Global Events & Economic Reports for 7.18.2014
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 July 18, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Just as I wrote about summer trading, unfortunate events with Malaysian airlines plane crash as well as other Geo political events, sent the market down pretty hard along with two sided volatile action.
Personally this was not an easy trading day, as I did not adjust the stops to match increased volatility only to see the direction of trade come back the way I wanted it.
Trading is not easy mentally! I have seen myself and other traders get frustrated when that happens and start a chain of actions that was not in the game plan and can many times cause much bigger losses…. Revenge trading, doubling down are just a few of our “bad friends” who show up when you are not focused and disciplined….
This is when one should take a pause, small break from trading. Step out, stretch, get fresh air and collect one self composure before deciding if to continue trading and how.
I am glad to share that this actually helped me today stay within my game plan and minimize losses to what i consider “acceptable levels”…
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
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 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1997.17 | 3985.17 | 17238 | 1162.97 | 80.78 |
| Resistance 2 | 1986.58 | 3956.33 | 17161 | 1155.33 | 80.72 |
| Resistance 1 | 1970.17 | 3916.92 | 17054 | 1142.17 | 80.65 |
| Pivot | 1959.58 | 3888.08 | 16977 | 1134.53 | 80.60 |
| Support 1 | 1943.17 | 3848.67 | 16870 | 1121.37 | 80.53 |
| Support 2 | 1932.58 | 3819.83 | 16793 | 1113.73 | 80.47 |
| Support 3 | 1916.17 | 3780.42 | 16686 | 1100.57 | 80.40 |
| Contract | August Gold | Sept.Silver | August Crude Oil | September Bonds | Sept. Euro |
| Resistance 3 | 1358.6 | 2194.7 | 105.92 | 139 25/32 | 1.3565 |
| Resistance 2 | 1342.3 | 2162.3 | 104.60 | 139 5/32 | 1.3554 |
| Resistance 1 | 1330.8 | 2140.7 | 103.90 | 138 24/32 | 1.3541 |
| Pivot | 1314.5 | 2108.3 | 102.58 | 138 4/32 | 1.3530 |
| Support 1 | 1303.0 | 2086.7 | 101.88 | 137 23/32 | 1.3517 |
| Support 2 | 1286.7 | 2054.3 | 100.56 | 137 3/32 | 1.3506 |
| Support 3 | 1275.2 | 2032.7 | 99.86 | 136 22/32 | 1.3493 |
| Contract | Dec Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 399.7 | 551.5 | 1139.17 | 378.27 | 37.36 |
| Resistance 2 | 396.1 | 551.3 | 1129.33 | 372.43 | 37.15 |
| Resistance 1 | 391.7 | 551.0 | 1111.67 | 364.97 | 36.77 |
| Pivot | 388.1 | 550.8 | 1101.83 | 359.13 | 36.56 |
| Support 1 | 383.7 | 550.5 | 1084.2 | 351.7 | 36.2 |
| Support 2 | 380.1 | 550.3 | 1074.33 | 345.83 | 35.97 |
| Support 3 | 375.7 | 550.0 | 1056.67 | 338.37 | 35.59 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:28pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriJul 18 | 4:00am | EUR | Current Account | 24.3B | 21.5B | ||||
| 6:30am | EUR | German Buba President Weidmann Speaks | |||||||
| 9:55am | USD | Prelim UoM Consumer Sentiment | 83.5 | 82.5 | |||||
| USD | Prelim UoM Inflation Expectations | 3.1% | |||||||
| 10:00am | USD | CB Leading Index m/m | 0.6% | 0.5% |
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.
