Futures Trading Levels & Economic Reports 6.25.2014
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 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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| 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 |
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.
