Global Events & Economic Reports for 7.18.2014

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

Global Events & Economic Reports for 7.18.2014

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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 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!!


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 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
5. Economic Reports


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.


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