Low Volume across all Futures Markets & Economic Reports / Levels 5.20.2014
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 Tuesday May 20, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
We started the week with very low volume, low energy type of trading across the markets.
Not my favorite conditions but that is part of trading….YOU need to adjust to what the market is doing, how the market is trading/ behaving since the opposite will NOT happen….mini SP volume looks to be under 1 million contracts today, which is well below the average volume. If anything, days like today are sometimes followed by higher volatility/ higher volume days, so make sure to see what type of trading range/ volatility the overnight session had and how the first 30 minutes of trading tomorrow look like to see if it can help you asses the type of trading day ahead of you.
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GOOD TRADING
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| Contract June 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1905.83 | 3686.17 | 16636 | 1142.17 | 80.31 |
| Resistance 2 | 1894.42 | 3651.83 | 16567 | 1128.73 | 80.21 |
| Resistance 1 | 1888.58 | 3634.17 | 16526 | 1120.47 | 80.14 |
| Pivot | 1877.17 | 3599.83 | 16457 | 1107.03 | 80.04 |
| Support 1 | 1871.33 | 3582.17 | 16416 | 1098.77 | 79.96 |
| Support 2 | 1859.92 | 3547.83 | 16347 | 1085.33 | 79.86 |
| Support 3 | 1854.08 | 3530.17 | 16306 | 1077.07 | 79.79 |
| Contract | June Gold | July Silver | July Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1319.0 | 1997.5 | 103.54 | 138 10/32 | 1.3770 |
| Resistance 2 | 1312.4 | 1983.0 | 103.02 | 138 2/32 | 1.3752 |
| Resistance 1 | 1302.8 | 1960.0 | 102.57 | 137 14/32 | 1.3730 |
| Pivot | 1296.2 | 1945.5 | 102.05 | 137 6/32 | 1.3712 |
| Support 1 | 1286.6 | 1922.5 | 101.60 | 136 18/32 | 1.3690 |
| Support 2 | 1280.0 | 1908.0 | 101.08 | 136 10/32 | 1.3672 |
| Support 3 | 1270.4 | 1885.0 | 100.63 | 135 22/32 | 1.3650 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 485.8 | 688.8 | 1531.33 | 515.30 | 40.90 |
| Resistance 2 | 483.9 | 682.2 | 1511.42 | 505.10 | 40.77 |
| Resistance 1 | 480.6 | 678.3 | 1498.33 | 497.80 | 40.60 |
| Pivot | 478.7 | 671.7 | 1478.42 | 487.60 | 40.47 |
| Support 1 | 475.3 | 667.8 | 1465.3 | 480.3 | 40.3 |
| Support 2 | 473.4 | 661.2 | 1445.42 | 470.10 | 40.17 |
| Support 3 | 470.1 | 657.3 | 1432.33 | 462.80 | 40.00 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:47pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueMay 20 | 2:00am | EUR | German PPI m/m | 0.0% | -0.3% | ||||
| 12:30pm | USD | FOMC Member Plosser Speaks | |||||||
| 1:00pm | USD | FOMC Member Dudley 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.
