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Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

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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 9, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

 

Seems like both the NASDAQ and the Russell had a healthy correction over the past 8 weeks while both the Dow and the SP500 are still flirting with the all time highs. The big question is who going to catch up with who…NASDAQ and Russell starts edging higher or SP and Dow start going lower?

 

 

Daily charts of the mini Russell 2000 as well as the mini SP 500 for your review below:

 

 

 

 

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!!

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.

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Futures Trading Levels

Contract June 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1902.08 3632.58 16700 1136.03 80.20
Resistance 2 1893.42 3606.17 16636 1126.47 79.85
Resistance 1 1882.33 3571.33 16570 1110.23 79.64
Pivot 1873.67 3544.92 16506 1100.67 79.29
Support 1 1862.58 3510.08 16440 1084.43 79.08
Support 2 1853.92 3483.67 16376 1074.87 78.73
Support 3 1842.83 3448.83 16310 1058.63 78.52
Contract June Gold July Silver June Crude Oil June Bonds  June Euro
Resistance 3 1305.6 1959.0 101.93 137 16/32 1.4092
Resistance 2 1300.6 1949.0 101.43 137  3/32 1.4042
Resistance 1 1294.9 1932.5 100.87 136 17/32 1.3945
Pivot 1289.9 1922.5 100.37 136  4/32 1.3895
Support 1 1284.2 1906.0 99.81 135 18/32 1.3798
Support 2 1279.2 1896.0 99.31 135  5/32 1.3748
Support 3 1273.5 1879.5 98.75 134 19/32 1.3651
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 528.0 735.6 1496.33 496.10 41.40
Resistance 2 522.5 735.4 1483.17 490.30 41.27
Resistance 1 519.5 735.3 1476.33 485.50 41.20
Pivot 514.0 735.2 1463.17 479.70 41.07
Support 1 511.0 735.1 1456.3 474.9 41.0
Support 2 505.5 734.9 1443.17 469.10 40.87
Support 3 502.5 734.8 1436.33 464.30 40.80
5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:04pm Currency Impact Detail Actual Forecast Previous Graph
FriMay 9  2:00am EUR German Trade Balance 16.9B 15.7B
2:45am EUR French Gov Budget Balance -25.7B
4:00am EUR Italian Industrial Production m/m 0.2% -0.5%
10:00am USD JOLTS Job Openings 4.21M 4.17M
USD Wholesale Inventories m/m 0.5% 0.5%
6:00pm USD FOMC Member Kocherlakota 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.

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