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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 April 4, 2014
For 2014 I would like to wish all of you discipline and patience in your trading!
Today I must share an observation that may help many of you.
So many times as a broker I see clients who know how to make money… I see it in the daily statements, good winning %, consistent profits UNTIL….something happens. Either the client who is normally a day-trader decides to carry his/hers losing position and make it into a swing trade…..OR the trader is down and refuses to accept the fact it may be a losing day and decides to double down and get more aggressive because if this trade is a winner he will have another winning day….the examples go on and no I am not referring to anyone specific although many of you probably think I am talking about them.
I have done it before as a trader. It is the inability to accept a loss that creates this snow ball.
I am to a psychologist not a professional writer ( English is my second language if you did not tell by now (-:
ON A SIMILAR NOTE:
Monthly unemployment figures come out tomorrow morning. That would be a great time to excessive discipline and control of what is written above…..
GOOD TRADING
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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 | 1900.83 | 3724.00 | 16619 | 1208.30 | 81.23 |
| Resistance 2 | 1894.17 | 3696.50 | 16575 | 1199.70 | 80.96 |
| Resistance 1 | 1888.83 | 3664.00 | 16539 | 1189.00 | 80.79 |
| Pivot | 1882.17 | 3636.50 | 16495 | 1180.40 | 80.51 |
| Support 1 | 1876.83 | 3604.00 | 16459 | 1169.70 | 80.34 |
| Support 2 | 1870.17 | 3576.50 | 16415 | 1161.10 | 80.07 |
| Support 3 | 1864.83 | 3544.00 | 16379 | 1150.40 | 79.90 |
| Contract | June Gold | May Silver | May Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1305.7 | 2046.7 | 102.26 | 132 31/32 | 1.3898 |
| Resistance 2 | 1299.9 | 2027.3 | 101.37 | 132 21/32 | 1.3853 |
| Resistance 1 | 1293.4 | 2004.7 | 100.86 | 132 14/32 | 1.3786 |
| Pivot | 1287.6 | 1985.3 | 99.97 | 132 4/32 | 1.3741 |
| Support 1 | 1281.1 | 1962.7 | 99.46 | 131 29/32 | 1.3674 |
| Support 2 | 1275.3 | 1943.3 | 98.57 | 131 19/32 | 1.3629 |
| Support 3 | 1268.8 | 1920.7 | 98.06 | 131 12/32 | 1.3562 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | May bean Oil |
| Resistance 3 | 508.6 | 676.7 | 1499.00 | 495.57 | 42.10 |
| Resistance 2 | 504.7 | 676.3 | 1487.75 | 489.83 | 41.88 |
| Resistance 1 | 502.3 | 676.2 | 1481.50 | 484.97 | 41.78 |
| Pivot | 498.4 | 675.8 | 1470.25 | 479.23 | 41.56 |
| Support 1 | 496.1 | 675.7 | 1464.0 | 474.4 | 41.5 |
| Support 2 | 492.2 | 675.3 | 1452.75 | 468.63 | 41.24 |
| Support 3 | 489.8 | 675.2 | 1446.50 | 463.77 | 41.14 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:21pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriApr 4 | 2:00am | EUR | German Factory Orders m/m | 0.5% | 1.2% | ||||
| 4:10am | EUR | Retail PMI | 48.5 | ||||||
| 8:30am | USD | Non-Farm Employment Change | 199K | 175K | |||||
| USD | Unemployment Rate | 6.6% | 6.7% | ||||||
| USD | Average Hourly Earnings m/m | 0.2% | 0.4% |
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.