Mini Russell 2000 Chart, Futures Levels & Economic Reports 2.20.2014
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 Thursday March 20, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
As expected and forewarned in this blog….very quiet, tight trading until the announcement and then HIGH volatility. I personally, do not like to trade this way as I feel the risk is greater than reward, however there are certain type of traders who can’t wait for the big reports to trade….
Here is what the daily chart of the Mini Russell 2000 looks like after today. June is front month now for stock indices, currencies and financials.
TFE – Russell 2000 Index Mini, Equalized Active Daily Continuation
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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 | 1892.83 | 3756.75 | 16529 | 1220.10 | 81.19 |
| Resistance 2 | 1880.17 | 3731.00 | 16412 | 1211.00 | 80.72 |
| Resistance 1 | 1867.33 | 3704.00 | 16284 | 1201.20 | 80.43 |
| Pivot | 1854.67 | 3678.25 | 16167 | 1192.10 | 79.96 |
| Support 1 | 1841.83 | 3651.25 | 16039 | 1182.30 | 79.67 |
| Support 2 | 1829.17 | 3625.50 | 15922 | 1173.20 | 79.20 |
| Support 3 | 1816.33 | 3598.50 | 15794 | 1163.40 | 78.91 |
| Contract | Apr. Gold | May Silver | May Crude Oil | June Bonds | Mar. Euro |
| Resistance 3 | 1382.9 | 2132.8 | 100.39 | 134 7/32 | 1.4030 |
| Resistance 2 | 1371.6 | 2114.7 | 99.83 | 133 24/32 | 1.3981 |
| Resistance 1 | 1350.5 | 2086.8 | 99.46 | 132 28/32 | 1.3905 |
| Pivot | 1339.2 | 2068.7 | 98.90 | 132 13/32 | 1.3856 |
| Support 1 | 1318.1 | 2040.8 | 98.53 | 131 17/32 | 1.3780 |
| Support 2 | 1306.8 | 2022.7 | 97.97 | 131 2/32 | 1.3731 |
| Support 3 | 1285.7 | 1994.8 | 97.60 | 130 6/32 | 1.3655 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | May bean Oil |
| Resistance 3 | 499.2 | 716.8 | 1445.50 | 474.07 | 43.05 |
| Resistance 2 | 495.1 | 716.3 | 1439.75 | 468.73 | 42.83 |
| Resistance 1 | 491.4 | 716.0 | 1435.50 | 465.37 | 42.46 |
| Pivot | 487.3 | 715.5 | 1429.75 | 460.03 | 42.24 |
| Support 1 | 483.7 | 715.3 | 1425.5 | 456.7 | 41.9 |
| Support 2 | 479.6 | 714.8 | 1419.75 | 451.33 | 41.65 |
| Support 3 | 475.9 | 714.5 | 1415.50 | 447.97 | 41.28 |
* The levels for stock index below are still calculated based on March contract because of volume. To get the levels for June contracts:
subtract 7 points on the SP, 6 points on the mini NASDAQ, 3 points on the mini Russell and 70 points on the mini Dow for each level.
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:53pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuMar 20 | 3:00am | EUR | German PPI m/m | 0.2% | -0.1% | ||||
| Day 1 | EUR | EU Economic Summit | |||||||
| 8:30am | USD | Unemployment Claims | 327K | 315K | |||||
| 10:00am | USD | Existing Home Sales | 4.65M | 4.62M | |||||
| USD | Philly Fed Manufacturing Index | 4.2 | -6.3 | ||||||
| USD | CB Leading Index m/m | 0.3% | 0.3% | ||||||
| 10:30am | USD | Natural Gas Storage | -195B | ||||||
| 4:00pm | USD | Bank Stress Test Results |
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
