Futures Market Reports & Trading Levels 5.21.2014
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 Wednesday May 21, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
I mentioned yesterday that we have good chances of higher volume / volatility move after the very low energy day we saw to start the week, and I was right (for a change (-:
SP500 finished down 14 points and traded about 1.5 million contracts, almost 60% more than we did on Monday.
We got a few more reports tomorrow morning followed by FOMC minutes (1 PM central) which is a market MOVER event so my thought is that we may see some additional volatility tomorrow.
Why am I discussing this topic for two days in a row now?
I think that different types of trading days require different trading approaches/ strategies and if that you can assess quickly if this is a range bound day or more volatile / larger moves days EARLY enough, it may save you from trying to “average up/down” to soon or you may have better chances with break out strategies etc.
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
GOOD TRADING
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.
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| Contract June 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1899.83 | 3657.92 | 16654 | 1134.80 | 80.27 |
| Resistance 2 | 1892.17 | 3640.83 | 16579 | 1124.50 | 80.22 |
| Resistance 1 | 1880.08 | 3618.67 | 16459 | 1109.20 | 80.16 |
| Pivot | 1872.42 | 3601.58 | 16384 | 1098.90 | 80.11 |
| Support 1 | 1860.33 | 3579.42 | 16264 | 1083.60 | 80.04 |
| Support 2 | 1852.67 | 3562.33 | 16189 | 1073.30 | 79.99 |
| Support 3 | 1840.58 | 3540.17 | 16069 | 1058.00 | 79.93 |
| Contract | June Gold | July Silver | July Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1310.3 | 1974.5 | 103.69 | 138 12/32 | 1.3751 |
| Resistance 2 | 1303.7 | 1960.5 | 103.13 | 137 31/32 | 1.3732 |
| Resistance 1 | 1299.1 | 1950.5 | 102.80 | 137 18/32 | 1.3715 |
| Pivot | 1292.5 | 1936.5 | 102.24 | 137 5/32 | 1.3696 |
| Support 1 | 1287.9 | 1926.5 | 101.91 | 136 24/32 | 1.3679 |
| Support 2 | 1281.3 | 1912.5 | 101.35 | 136 11/32 | 1.3660 |
| Support 3 | 1276.7 | 1902.5 | 101.02 | 135 30/32 | 1.3643 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 484.7 | 671.8 | 1518.50 | 508.43 | 40.66 |
| Resistance 2 | 482.3 | 671.2 | 1508.75 | 503.77 | 40.49 |
| Resistance 1 | 477.9 | 670.8 | 1489.25 | 495.23 | 40.28 |
| Pivot | 475.6 | 670.2 | 1479.50 | 490.57 | 40.11 |
| Support 1 | 471.2 | 669.8 | 1460.0 | 482.0 | 39.9 |
| Support 2 | 468.8 | 669.2 | 1450.25 | 477.37 | 39.73 |
| Support 3 | 464.4 | 668.8 | 1430.75 | 468.83 | 39.52 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:51pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMay 21 | 4:00am | EUR | Current Account | 24.2B | 21.9B | ||||
| Tentative | EUR | German 10-y Bond Auction | 1.49|1.3 | ||||||
| 10:00am | EUR | Consumer Confidence | -8 | -9 | |||||
| USD | FOMC Member Dudley Speaks | ||||||||
| 10:30am | USD | Crude Oil Inventories | -0.1M | 0.9M | |||||
| 11:30am | USD | Fed Chair Yellen Speaks | |||||||
| 1:30pm | USD | FOMC Member Kocherlakota Speaks | |||||||
| 2:00pm | USD | FOMC Meeting Minutes |
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.
