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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 Tuesday October 6, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
The move we saw from Friday morning right after job numbers to today was a very powerful, vertical up move.
The question, big question is:
Is this a vicious bear market rally, possibly an opportunity to sell?
Did market participants decided that rates will be at zero for foreseeable future ( ZIRP) and market just finished a healthy 10% correction and heading back to an all time high?
Big questions….I am not sure which way to lean but here my daily chart of the mini SP 500 with some levels to watch. We are right against key resistance, possible right shoulder in the head and shoulder formation.
Did you know Cannon offers FOREX trading including the MT4 platform? Check out our Trading Systems/ALGO Trading and Managed Accounts section!
GOOD TRADING
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| Contract Dec. 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2033.33 | 4422.42 | 17154 | 1175.43 | 97.23 |
| Resistance 2 | 2006.67 | 4376.08 | 16924 | 1156.87 | 96.76 |
| Resistance 1 | 1990.58 | 4343.17 | 16788 | 1146.13 | 96.49 |
| Pivot | 1963.92 | 4296.83 | 16558 | 1127.57 | 96.02 |
| Support 1 | 1947.83 | 4263.92 | 16422 | 1116.83 | 95.74 |
| Support 2 | 1921.17 | 4217.58 | 16192 | 1098.27 | 95.27 |
| Support 3 | 1905.08 | 4184.67 | 16056 | 1087.53 | 95.00 |
| Contract | Dec. Gold | Dec. Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1153.3 | 16.50 | 48.85 | 160 21/32 | 1.1386 |
| Resistance 2 | 1147.4 | 16.12 | 47.89 | 159 29/32 | 1.1343 |
| Resistance 1 | 1141.3 | 15.87 | 47.12 | 158 20/32 | 1.1270 |
| Pivot | 1135.4 | 15.49 | 46.16 | 157 28/32 | 1.1227 |
| Support 1 | 1129.3 | 15.24 | 45.39 | 156 19/32 | 1.1154 |
| Support 2 | 1123.4 | 14.86 | 44.43 | 155 27/32 | 1.1111 |
| Support 3 | 1117.3 | 14.61 | 43.66 | 154 18/32 | 1.1038 |
| Contract | Dec. Corn | Dec. Wheat | Nov Beans | Dec. SoyMeal | Nov. Nat Gas |
| Resistance 3 | 399.8 | 528.7 | 896.83 | 309.37 | 2.56 |
| Resistance 2 | 396.7 | 523.3 | 891.42 | 307.13 | 2.52 |
| Resistance 1 | 395.1 | 519.4 | 887.83 | 305.47 | 2.50 |
| Pivot | 391.9 | 514.1 | 882.42 | 303.23 | 2.45 |
| Support 1 | 390.3 | 510.2 | 878.8 | 301.6 | 2.4 |
| Support 2 | 387.2 | 504.8 | 873.42 | 299.33 | 2.38 |
| Support 3 | 385.6 | 500.9 | 869.83 | 297.67 | 2.36 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:07pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueOct 6 | 2:00am | EUR | German Factory Orders m/m | 0.5% | -1.4% | ||||
| 4:10am | EUR | Retail PMI | 51.4 | ||||||
| All Day | EUR | ECOFIN Meetings | |||||||
| Day 2 | EUR | Eurogroup Meetings | |||||||
| 8:30am | USD | Trade Balance | -47.6B | -41.9B | |||||
| 10:00am | USD | IBD/TIPP Economic Optimism | 44.6 | 42.0 | |||||
| 1:00pm | EUR | ECB President Draghi Speaks | |||||||
| 5:30pm | USD | FOMC Member Williams Speaks |
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.