Mini Russell & Mini S&P Heikin Ashi Charts & Economic Reports 5.09.2014
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 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:
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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 | 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 |
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.
