Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Powerful bounce this morning, which started as Obama was speaking in front of the UN. Don’t think it was related but such was the timing…..
Daily chart of the mini Russell 2000 for your review below. I am sure many of you have noticed the divergence between the different stock indices. The SP500 is still flirting with all time highs, while the Russell 2000 is off quite a bit from the highs made on July 1st 2014.
My best guess for the Russell is a bounce towards the 1141.50 level, followed by a retest of the 1098 level but I must admit this is a pure guess on my side as am trying to predict a few moves ahead….
GOOD TRADING !
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 Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2022.17 | 4167.67 | 17423 | 1144.53 | 85.86 |
| Resistance 2 | 2007.33 | 4128.83 | 17286 | 1134.47 | 85.54 |
| Resistance 1 | 1999.17 | 4108.67 | 17210 | 1129.03 | 85.35 |
| Pivot | 1984.33 | 4069.83 | 17073 | 1118.97 | 85.03 |
| Support 1 | 1976.17 | 4049.67 | 16997 | 1113.53 | 84.83 |
| Support 2 | 1961.33 | 4010.83 | 16860 | 1103.47 | 84.51 |
| Support 3 | 1953.17 | 3990.67 | 16784 | 1098.03 | 84.32 |
| Contract | December Gold | Dec.Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1234.6 | 18.22 | 96.00 | 138 3/32 | 1.2937 |
| Resistance 2 | 1230.6 | 18.05 | 94.65 | 137 26/32 | 1.2904 |
| Resistance 1 | 1224.1 | 17.86 | 93.83 | 137 12/32 | 1.2847 |
| Pivot | 1220.1 | 17.69 | 92.48 | 137 3/32 | 1.2814 |
| Support 1 | 1213.6 | 17.50 | 91.66 | 136 21/32 | 1.2757 |
| Support 2 | 1209.6 | 17.33 | 90.31 | 136 12/32 | 1.2724 |
| Support 3 | 1203.1 | 17.14 | 89.49 | 135 30/32 | 1.2667 |
| Contract | Dec Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 334.6 | 484.8 | 943.83 | 312.00 | 33.25 |
| Resistance 2 | 332.2 | 483.9 | 941.92 | 310.80 | 33.07 |
| Resistance 1 | 330.8 | 482.1 | 939.33 | 309.40 | 32.90 |
| Pivot | 328.4 | 481.2 | 937.42 | 308.20 | 32.72 |
| Support 1 | 327.1 | 479.3 | 934.8 | 306.8 | 32.5 |
| Support 2 | 324.7 | 478.4 | 932.92 | 305.60 | 32.37 |
| Support 3 | 323.3 | 476.6 | 930.33 | 304.20 | 32.20 |
source: http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:05pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuSep 25 | 4:00am | EUR | M3 Money Supply y/y | 1.9% | 1.8% | ||||
| EUR | Private Loans y/y | -1.5% | -1.6% | ||||||
| EUR | Italian Retail Sales m/m | 0.2% | 0.0% | ||||||
| 8:30am | USD | Core Durable Goods Orders m/m | 0.7% | -0.7% | |||||
| USD | Durable Goods Orders m/m | -17.7% | 22.6% | ||||||
| USD | Unemployment Claims | 294K | 280K | ||||||
| 9:45am | USD | Flash Services PMI | 59.4 | 59.5 | |||||
| 10:30am | USD | Natural Gas Storage | 98B | 90B |
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.