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Futures Market Recap & Futures Levels 4.21.2015

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday April 21, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

Big turn around on equities between Friday and today thanks to China news….will be interesting to see what tomorrow will bring…..

From our friends at weekly summary below, followed by mid session update from today, to provide you with a bit more of the fundamentals moving the markets:

” The Shanghai Composite rose higher for the sixth straight week, tacking on another 6%, making for impressive rally of over 30% for the year. Investors have been undeterred by the apparent slowdown in the economy, as showcased by Q1 GDP and the bulk of data-points for the month of March. First quarter GDP growth of 7% was right in line with consensus and matched the overall 2015 target but still marked a 6-year low. Retail sales grew just 10.2% y/y, the slowest since February 2006 and missing forecasts. Industrial output grew 5.6%, the slowest since November 2008 and well below estimates at 7%e. Fixed-asset investment grew at a 14-year low of 13.5%.

Developments on Friday may put a big dent in the Chinese rally and by extension global equities. To help cut leverage and cool equity markets the China Securities Regulatory Commission banned the margin trading arms of brokerages from taking part in so-called “umbrella trusts”, raising fears of a big China equity selloff. The regulator also placed limits on margin trading for highly risky small stocks that trade OTC, and warned the small investors driving the mainland equity rally not borrow money or sell property to buy stocks. ”

“European and US stocks are seeing a strong snapback from Friday’s declines. The PBoC’s RRR cut helped neutralize fears of a Chinese selloff after Friday’s regulatory crackdown and some good US earnings helping US markets go higher. As of writing, the DJIA is up 1.34%, the S&P500 is up 1.02% and the Nasdaq is up 1.14%.

During the European session, there were news reports that EU Commissioner Juncker was looking at a new plan to prevent a Greek default, as negotiations were going nowhere. Later the Greek government issued a decree forcing local governments to transfer all their cash balances to the central bank ahead of another IMF payment as the nation’s cash crunch worsens. With the situation looking dire, ECB member Constancio said that if a default happens, EU treaties do not allow a country to be expelled from the euro zone. ECB’s Nowotny commented that there would be limited contagion from a Greek exit. EUR/USD remains right in the middle of its 6-week trading range between 1.05-1.10.

In a sign of things to come, major property firm Kaisa Group Holdings Ltd. Became the first Chinese developer to default on debts denominated in USD after 30 days elapsed from two missed bond payments. Kaisa had until Monday to make the payments after a 30-day grace period expired at the weekend. Kaisa’s business imploded in February after the company’s management quit over ties to China’s disgraced internal security chief Zhou Yongkang, and analysts suggest the authorities will continue to let firms like Kaisa go in their efforts to clean up financial markets.

Morgan Stanley had a very good first quarter, with net income up sharply y/y and revenue up more than 10% y/y. Both EPS and revenue topped expectations. The CEO said the firm’s investment banking pipeline remains healthy and bond trading revenue hit its highest level in three years. MS was up more than 2% in the premarket but has given up gains in cash trading. In other movers, Halliburton is up 4% on a good earnings report. In the US, the firm said drilling activity has dropped approximately 50% from the peak in November and pricing pressure would continue. Royal Caribbean cut its FY guidance, citing FX impact, and somewhat puzzlingly cited rising fuel costs. RCL is down nearly 8%. ”

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Contract June 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2120.17 4498.83 18274 1281.00 99.25
Resistance 2 2108.83 4457.92 18145 1273.10 98.78
Resistance 1 2101.17 4434.08 18048 1267.80 98.46
Pivot 2089.83 4393.17 17919 1259.90 97.99
Support 1 2082.17 4369.33 17822 1254.60 97.67
Support 2 2070.83 4328.42 17693 1246.70 97.20
Support 3 2063.17 4304.58 17596 1241.40 96.88
Contract June Gold May Silver June Crude Oil June Bonds June   Euro
Resistance 3 1224.2 16.77 61.01 166 26/32 1.0914
Resistance 2 1216.6 16.56 59.82 166 3/32 1.0871
Resistance 1 1206.0 16.25 58.78 165 3/32 1.0807
Pivot 1198.4 16.04 57.59 164 12/32 1.0764
Support 1 1187.8 15.73 56.55 163 12/32 1.0700
Support 2 1180.2 15.52 55.36 162 21/32 1.0657
Support 3 1169.6 15.21 54.32 161 21/32 1.0593
Contract May Corn May Wheat May Beans May SoyMeal May Nat Gas
Resistance 3 382.5 498.3 988.83 327.40 2.64
Resistance 2 381.0 498.3 984.67 323.70 2.62
Resistance 1 379.5 498.3 981.08 321.10 2.58
Pivot 378.0 498.3 976.92 317.40 2.56
Support 1 376.5 498.3 973.3 314.8 2.5
Support 2 375.0 498.3 969.17 311.10 2.50
Support 3 373.5 498.3 965.58 308.50 2.46
5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:45pm Currency Impact Detail Actual Forecast Previous Graph
TueApr 21  5:00am EUR German ZEW Economic Sentiment 55.6 54.8
EUR ZEW Economic Sentiment 63.7 62.4

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.


Tags: > Posted in: Economic Trading   | Future Trading News   | Futures Trading  

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