Futures Trading Levels & Economic Reports 6.25.2014

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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 June 25, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

I got burnt the last few years looking at the short side of stock index futures. Stocks have been going up and up and up…. Yet I cannot resist sharing my view that today MAY have been a reversal day for the SP 500. I will still need to see price action tomorrow in order to get a confirmation but the fact that we made new highs, then went ahead and reversed lower to take out last two days lows and closed on the lower range of the day – for me that is a bearish sign. To be upfront, I have gotten a few signals like this the last 2-3 years and none materialized to more than a small correction at best….

Time will tell if this set up is different or not and if I get any of my indicators to provide a sell signal I will update you. Until then I will take it one day at a time, one trade at a time and make sure that I am planning my trade based on the time frame I am trading and act accordingly, i.e. even if I think that medium term is bearish ( few days to few weeks)  but I am day trading, using tick or range bars ( talking minutes/ hours), one must make sure that they have an objective stand and read what is and what one would like it to be.

 

 

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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.  Past performance is not indicative to future results.

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Futures Trading Levels

Contract Sept. 2014 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1975.67 3868.00 17020 1205.70 80.76
Resistance 2 1967.83 3848.00 16952 1197.60 80.63
Resistance 1 1955.42 3821.25 16852 1182.80 80.51
Pivot 1947.58 3801.25 16784 1174.70 80.38
Support 1 1935.17 3774.50 16684 1159.90 80.26
Support 2 1927.33 3754.50 16616 1151.80 80.13
Support 3 1914.92 3727.75 16516 1137.00 80.01
Contract August Gold July Silver August Crude Oil September Bonds Sept. Euro
Resistance 3 1337.7 2148.3 107.78 137 6/32 1.3676
Resistance 2 1332.1 2132.7 107.12 136 22/32 1.3654
Resistance 1 1325.6 2112.3 106.57 136 14/32 1.3631
Pivot 1320.0 2096.7 105.91 135 30/32 1.3609
Support 1 1313.5 2076.3 105.36 135 22/32 1.3586
Support 2 1307.9 2060.7 104.70 135 6/32 1.3564
Support 3 1301.4 2040.3 104.15 134 30/32 1.3541
Contract Dec Corn Sept. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 444.8 587.8 1238.83 398.90 42.06
Resistance 2 442.8 586.4 1233.67 396.30 41.62
Resistance 1 441.8 583.6 1229.08 391.70 41.39
Pivot 439.8 582.2 1223.92 389.10 40.95
Support 1 438.8 579.3 1219.3 384.5 40.7
Support 2 436.8 577.9 1214.17 381.90 40.28
Support 3 435.8 575.1 1209.58 377.30 40.05
5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:38pm Currency Impact Detail Actual Forecast Previous Graph
WedJun 25  2:00am EUR GfK German Consumer Climate 8.6 8.5
4:00am EUR Italian Retail Sales m/m 0.2% -0.2%
8:30am USD Core Durable Goods Orders m/m 0.3% 0.3%
USD Durable Goods Orders m/m -0.1% 0.6%
USD Final GDP q/q -1.7% -1.0%
USD Final GDP Price Index q/q 1.3% 1.3%
9:45am USD Flash Services PMI 58.6 58.1
10:30am USD Crude Oil Inventories -1.2M -0.6M

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: Future Trading News  

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