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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 May 1, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Interesting action in the markets post FOMC. Sell offs in metals and indices, bounce in energies.
I have a feeling May will be a volatile month ahead.
Quick look at mini Russell 2000 chart below. This index made new all time highs April 15th, tried to test the high again this week and failed and the momentum right now is with the bears, at least in the short term and at least for now….Some levels if the sell off continues as well as some upside levels if we bounce.
GOOD TRADING
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| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2130.83 | 4558.25 | 18236 | 1265.93 | 96.52 |
| Resistance 2 | 2116.42 | 4518.25 | 18107 | 1253.67 | 96.03 |
| Resistance 1 | 2099.08 | 4466.50 | 17948 | 1236.03 | 95.45 |
| Pivot | 2084.67 | 4426.50 | 17819 | 1223.77 | 94.96 |
| Support 1 | 2067.33 | 4374.75 | 17660 | 1206.13 | 94.38 |
| Support 2 | 2052.92 | 4334.75 | 17531 | 1193.87 | 93.89 |
| Support 3 | 2035.58 | 4283.00 | 17372 | 1176.23 | 93.31 |
| Contract | June Gold | July Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1232.9 | 17.57 | 61.53 | 162 4/32 | 1.1504 |
| Resistance 2 | 1220.1 | 17.15 | 60.65 | 161 3/32 | 1.1389 |
| Resistance 1 | 1201.5 | 16.64 | 60.13 | 160 11/32 | 1.1308 |
| Pivot | 1188.7 | 16.22 | 59.25 | 159 10/32 | 1.1193 |
| Support 1 | 1170.1 | 15.71 | 58.73 | 158 18/32 | 1.1112 |
| Support 2 | 1157.3 | 15.29 | 57.85 | 157 17/32 | 1.0997 |
| Support 3 | 1138.7 | 14.78 | 57.33 | 156 25/32 | 1.0916 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 373.9 | 475.0 | 1010.42 | 331.63 | 3.03 |
| Resistance 2 | 371.6 | 474.5 | 1002.33 | 328.17 | 2.90 |
| Resistance 1 | 368.9 | 474.3 | 989.17 | 322.13 | 2.82 |
| Pivot | 366.6 | 473.8 | 981.08 | 318.67 | 2.69 |
| Support 1 | 363.9 | 473.5 | 967.9 | 312.6 | 2.6 |
| Support 2 | 361.6 | 473.0 | 959.83 | 309.17 | 2.47 |
| Support 3 | 358.9 | 472.8 | 946.67 | 303.13 | 2.39 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:47pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriMay 1 | All Day | EUR | French Bank Holiday | ||||||
| All Day | EUR | German Bank Holiday | |||||||
| All Day | EUR | Italian Bank Holiday | |||||||
| 9:45am | USD | Final Manufacturing PMI | 54.2 | 54.2 | |||||
| 10:00am | USD | ISM Manufacturing PMI | 52.1 | 51.5 | |||||
| USD | Revised UoM Consumer Sentiment | 96.1 | 95.9 | ||||||
| USD | Construction Spending m/m | 0.5% | -0.1% | ||||||
| USD | ISM Manufacturing Prices | 42.3 | 39.0 | ||||||
| USD | Revised UoM Inflation Expectations | 2.5% | |||||||
| All Day | USD | Total Vehicle Sales | 16.9M | 17.2M |
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.