Futures Trading Levels and Economic Reports 3.07.2014
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 Friday March 07, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Monthly unemployment numbers coming out tomorrow morning, 7:30 AM central time. This is definitely a market moving report that normally injects high volatility into indices, financials, currencies, metals and even the energies.
I personally do NOT trade until after the report and this is what I recommend my clients but as long as you are aware and ready, you can make your own decisions.
Below you will see a 1 minute chart of the mini SP 500 from the last monthly unemployment back in February 7th 2014 just to get an idea of the moves prior and after the report, notice the 26 point move during the 1 minute bar right when the numbers came out!!!:
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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 March 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1891.17 | 3764.92 | 16548 | 1216.57 | 80.67 |
| Resistance 2 | 1886.08 | 3751.08 | 16493 | 1212.73 | 80.44 |
| Resistance 1 | 1881.17 | 3736.92 | 16453 | 1208.27 | 80.05 |
| Pivot | 1876.08 | 3723.08 | 16398 | 1204.43 | 79.82 |
| Support 1 | 1871.17 | 3708.92 | 16358 | 1199.97 | 79.43 |
| Support 2 | 1866.08 | 3695.08 | 16303 | 1196.13 | 79.20 |
| Support 3 | 1861.17 | 3680.92 | 16263 | 1191.67 | 78.81 |
| Contract | Apr. Gold | May Silver | April Crude Oil | June Bonds | Mar. Euro |
| Resistance 3 | 1381.6 | 2225.0 | 104.55 | 132 31/32 | 1.4081 |
| Resistance 2 | 1367.8 | 2195.0 | 103.32 | 132 22/32 | 1.3977 |
| Resistance 1 | 1359.0 | 2170.5 | 102.60 | 132 7/32 | 1.3919 |
| Pivot | 1345.2 | 2140.5 | 101.37 | 131 30/32 | 1.3815 |
| Support 1 | 1336.4 | 2116.0 | 100.65 | 131 15/32 | 1.3757 |
| Support 2 | 1322.6 | 2086.0 | 99.42 | 131 6/32 | 1.3653 |
| Support 3 | 1313.8 | 2061.5 | 98.70 | 130 23/32 | 1.3595 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | May bean Oil |
| Resistance 3 | 501.0 | 649.0 | 1449.00 | 460.57 | 45.39 |
| Resistance 2 | 496.5 | 647.5 | 1444.00 | 457.83 | 44.98 |
| Resistance 1 | 493.8 | 646.8 | 1441.00 | 454.37 | 44.74 |
| Pivot | 489.3 | 645.3 | 1436.00 | 451.63 | 44.33 |
| Support 1 | 486.5 | 644.5 | 1433.0 | 448.2 | 44.1 |
| Support 2 | 482.0 | 643.0 | 1428.00 | 445.43 | 43.68 |
| Support 3 | 479.3 | 642.3 | 1425.00 | 441.97 | 43.44 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:08pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriMar 7 | 2:00am | EUR | German WPI m/m | 0.6% | 0.4% | ||||
| 2:45am | EUR | French Gov Budget Balance | -74.9B | ||||||
| EUR | French Trade Balance | -5.3B | -5.2B | ||||||
| 6:00am | EUR | German Industrial Production m/m | 0.7% | -0.6% | |||||
| 8:30am | USD | Non-Farm Employment Change | 151K | 113K | |||||
| USD | Trade Balance | -39.1B | -38.7B | ||||||
| USD | Unemployment Rate | 6.6% | 6.6% | ||||||
| USD | Average Hourly Earnings m/m | 0.2% | 0.2% | ||||||
| 12:00pm | USD | FOMC Member Dudley Speaks | |||||||
| 3:00pm | USD | Consumer Credit m/m | 14.6B | 18.8B |
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.
