Futures Trading Levels & Reports for April 5th 2018
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Four Straight Days of 2% Moves!!
It seems volatility is here to stay as there has been 7 days in 2018 where the stock market have moved +/- 2%!
It seems volatility is here to stay in 2018 and it’s coming from multiple areas. This time around, President Trump’s announcement to put $50 Billion tariffs on Chinese goods sent the S&P 500 into dizzy last week, falling 5%, rebounding 2% yesterday, and giving it back today.
In fact, today marks the fourth consecutive trading day the S&P 500 has closed at +2% / -2%.
Thursday, March 22nd: -2.52%
Friday, March 23rd: -2.10%
Monday, March 26th: +2.72%
Tuesday, March 27th: -2.01%
Just how unusual is this? According to Bespoke, the last time this happened was August 2011! Just a couple of weeks ago, we were all wondering just how long the market would go up with little to no volatility to be seen. Now, we’ve seen four straight days of markets moving +/-2%, adding up to 7 days of 2% moves in 2018! Before February 2018, we hadn’t seen a +/ 2% day in the S&P since Nov’16!
President Trump’s tariffs may have kicked off the volatility, but it doesn’t seem to be a one news cycle story in the markets. Volatility is here to stay. The question is, where will the volatility take us? New highs – or further into a correction?
Source: https://www.rcmalternatives.com/2018/03/four-straight-days-of-2-moves/
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.
Futures Trading Levels
4-05-2018
| Contract June 2018 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2766.75 | 6959.75 | 25479 | 1605.30 | 8026.29 |
| Resistance 2 | 2708.25 | 6775.75 | 24878 | 1571.40 | 7730.92 |
| Resistance 1 | 2676.50 | 6674.75 | 24563 | 1552.10 | 7314.72 |
| Pivot | 2618.00 | 6490.75 | 23962 | 1518.20 | 7019.35 |
| Support 1 | 2586.25 | 6389.75 | 23647 | 1498.90 | 6603.15 |
| Support 2 | 2527.75 | 6205.75 | 23046 | 1465.00 | 6307.78 |
| Support 3 | 2496.00 | 6104.75 | 22731 | 1445.70 | 5891.58 |
| Contract | June Gold | May Silver | May Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1365.4 | 16.76 | 65.66 | 147 8/32 | 1.2438 |
| Resistance 2 | 1359.0 | 16.64 | 64.65 | 146 29/32 | 1.2410 |
| Resistance 1 | 1348.1 | 16.46 | 64.08 | 146 8/32 | 1.2379 |
| Pivot | 1341.7 | 16.34 | 63.07 | 145 29/32 | 1.2351 |
| Support 1 | 1330.8 | 16.17 | 62.50 | 145 8/32 | 1.2320 |
| Support 2 | 1324.4 | 16.05 | 61.49 | 144 29/32 | 1.2292 |
| Support 3 | 1313.5 | 15.87 | 60.92 | 144 8/32 | 1.2261 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | May Nat Gas |
| Resistance 3 | 395.4 | 469.7 | 1061.58 | 409.27 | 2.82 |
| Resistance 2 | 390.8 | 464.6 | 1041.92 | 396.53 | 2.78 |
| Resistance 1 | 385.9 | 460.2 | 1028.58 | 389.17 | 2.74 |
| Pivot | 381.3 | 455.1 | 1008.92 | 376.43 | 2.71 |
| Support 1 | 376.4 | 450.7 | 995.6 | 369.1 | 2.7 |
| Support 2 | 371.8 | 445.6 | 975.92 | 356.33 | 2.64 |
| Support 3 | 366.9 | 441.2 | 962.58 | 348.97 | 2.60 |
Economic Reports, source:
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 judgement in trading.
