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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Will the Mini S&P 500 See a Meaningful Bounce? | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. December Mini S&P 500 Continuous Futures chart
4. Economic Reports
5. Highlighted Earnings Releases

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1. Market Commentary

FRONT MONTH FOR EQUITIES AND BONDS IS DECEMBER

SYMBOL FOR DECEMBER IS Z

From a technical perspective, Dec. Mini Sp must hold above 1130.00 to have a chance of a meaningful bounce, a break below that level and we should test 1071.25 which is the equivalent for the Sept. lows of 1077.

Have a great weekend and be ready for a full, volatile trading week coming up.

Dec. mini SP continuous chart for your review below: Continue reading “Will the Mini S&P 500 See a Meaningful Bounce? | Support and Resistance Levels”

NYMEX Energy Futures Margin Requirements Changes – Heating Oil Futures and RBOB Gasoline Futures

Posted on by Ilan

Please be aware of margin requirement changes for selected energy futures contracts starting after the close of business on Monday, September 12, 2011. Below we provided a few selected contract changes.

NYMEX Heating Oil Futures Margin Requirement Changes

CC Rate Type Description Change ISO Current Initial Current Maintenance New Initial New Maintenance
HO Spec Tier 1 Decr. USD 9,788 7,250 8.775 6,500
HO Hedge/Member Tier 1 Decr. USD 7,250 7,250 6,500 6,500
HO Spec Tier 2 Decr. USD 9.788 7,250 8,775 6,500
HO Hedge/Member Tier 2 Decr. USD 7.250 7,250 6,500 6,500
HO Spec Tier 3 Decr. USD 9,788 7,250 8,775 6,500
HO Hedge/Member Tier 3 Decr. USD 7,250 7,250 6,500 6,500
HO Spec Tier 4 Decr. USD 9,450 7,000 8,438 6,250
HO Hedge/Member Tier 4 Decr. USD 7,000 7,000 6,250 6,250

 

NYMEX RBOB Gasoline Futures Margin Requirement Changes

CC Rate Type Description Change ISO Current Initial Current Maintenance New Initial New Maintenance
RT Spec Tier 1 Decr. USD 11,475 8,500 10,463 7,750
RT Hedge/Member Tier 1 Decr. USD 8,500 8,500 7,750 7,750
RT Spec Tier 2 Decr. USD 11,475 8,500 10,463 7,750
RT Hedge/Member Tier 2 Decr. USD 8,500 8,500 7,750 7,750
RT Spec Tier 3 Decr. USD 11,138 8,500 10,125 7,750
RT Hedge/Member Tier 3 Decr. USD 8,250 8,500 7,500 7,750
RT Spec Tier 4 Decr. USD 10,125 7,500 9,113 6,750
RT Hedge/Member Tier 4 Decr. USD 7,500 7,500 6,750 6,750

You can view the rest of the NYMEX energy futures margin requirements changes here: http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv11-317.pdf

CME Group Moment of Silence During Futures Market Hours | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. December Mini S&P 500 Continuous Futures chart
4. Economic Reports
5. Highlighted Earnings Releases

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1. Market Commentary

FRONT MONTH FOR EQUITIES AND BONDS IS DECEMBER

SYMBOL FOR DECEMBER IS Z

On a different note:

On Friday, September 9, 2011, CME Group will observe the tenth anniversary of the attacks on the World Trade Center. As a result, NYMEX/COMEX markets on CME Globex will observe voluntary moments of silence at: 07:46 CT/08:46 ET, 08:03 CT/09:03 ET, 08:59 CT/09:59 ET and 09:29 CT/10:29 ET. We request that all electronic market participants refrain from trading NYMEX and COMEX products on CME Globex and CME ClearPort during these moments of silence

December mini SP continuous chart for your review below: Continue reading “CME Group Moment of Silence During Futures Market Hours | Support and Resistance Levels”

Crude Oil Inventory Economic Report | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Support and Resistance Levels
2. Economic Reports
3. Highlighted Earnings Releases

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1. SUPPORT AND RESISTANCE LEVELS!

Contract (Sept. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1225.33 2301.00 11802 744.90
Resistance 2 1211.92 2262.25 11609 726.70
Resistance 1 1204.83 2242.25 11509 717.20
Pivot 1191.42 2203.50 11316 699.00
Support 1 1184.33 2183.50 11216 689.50
Support 2 1170.92 2144.75 11023 671.30
Support 3 1163.83 2124.75 10923 661.80

 

Contract Dec. Gold Sept. Euro Oct. Crude Oil Dec. Bonds
Resistance 3 1889.2 1.4328 94.26 141 9/32
Resistance 2 1865.0 1.4239 92.00 140 26/32
Resistance 1 1842.2 1.4170 90.67 140 4/32
Pivot 1818.0 1.4081 88.41 139 21/32
Support 1 1795.2 1.4012 87.08 138 31/32
Support 2 1771.0 1.3923 84.82 138 16/32
Support 3 1748.2 1.3854 83.49 137 26/32

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2. Economic Reports Thursday September 8th, 2011

Trade Balance
8:30am USD

Unemployment Claims
8:30am USD

Natural Gas Storage
10:30am USD

Crude Oil Inventories
11:00am USD

Fed Chairman Bernanke Speaks
1:00pm USD

Consumer Credit m/m
3:00pm USD

President Obama Speaks
7:00pm USD

Economics Report Source: http://www.forexfactory.com/calendar.php

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3. Today’s Highlighted Earnings Releases

SYMBOL COMPANY EVENT TITLE EPS ESTIMATE EPS ACTUAL PREV. YEAR ACTUAL DATE/TIME (ET)
A9I.I Agi Therapeutics PLC Interim 2011 Agi Therapeutics PLC Earnings Release n/a n/a n/a 7-Sep
CNU Continucare Corp Q4 2011 Continucare Corp Earnings Release $ 0.11 n/a $ 0.09 7-Sep BMO
FCE.A Forest City Enterprises Inc Q2 2011 Forest City Enterprises Inc Earnings Release $ 0.37 n/a $ 0.54 7-Sep AMC
HW.TO Harry Winston Diamond Corp Q2 2012 Harry Winston Diamond Corp Earnings Release n/a n/a n/a 7-Sep AMC
HITK Hi-Tech Pharmacal Co Inc Q1 2012 Hi Tech Pharmacal Co Inc Earnings Release $ 0.84 n/a $ 0.67 7-Sep BMO
SEAC SeaChange International Inc Q2 2012 SeaChange International Inc Earnings Release $ 0.16 n/a $ 0.11 7-Sep AMC

Equities Indices Futures Rollover Dates – ES, NQ, TF, EMD, YM – September 2011

Posted on by Ilan

The equities futures contracts affected are listed below:

Contracts Rollover Date New Month & Symbol
ES Thursday 9/8/11 December, ‘Z’
TF Thursday 9/8/11 December, ‘Z’
NQ Thursday 9/8/11 December, ‘Z’
EMD Thursday 9/8/11 December, ‘Z’
YM Thursday 9/8/11 December, ‘Z’

We recommend that all new positions be placed in the December contract as of Thursday’s trade date.

Please close any open September Currencies positions by the close on Friday, September 16th.

Should you have any further questions please contact your futures broker.

More Volatitity after Holiday Weekend | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Hourly Futures chart of PIT big S&P500
4. Economic Reports
5. Highlighted Earnings Releases

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1. Market Commentary

Market came back from a long weekend with extra energy and extra volatility.

We gaped lower to start the session and then bounced most of the day after better than expected ISM.

At this point, there more than a few gaps on the daily chart to be filled in both directions.

I am looking at a “band” between 1183 and 1136 as we go into tonight’s and tomorrow session.

To be honest, I don’t have a feel on which way to play the market outside of day-trading set ups right now.

I share these set ups, like the one below using the hourly chart in my daily, live signals service.

Hourly chart of PIT (big SP500) for your review below: Continue reading “More Volatitity after Holiday Weekend | Support and Resistance Levels”

Bearish Close for the Mini Russell 2000 | Support and Resistance Levels

Posted on by Ilan

In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Futures Chart for Mini Russell 2000
4a. Economic Reports Monday September 5th
4b. Economic Reports Tuesday September 6th

1. Market Commentary

I wrote the following yesterday:
I am getting mixed signals from the chart perspective and there is a case both for the bulls and the bears.

The bulls need to hold above 1183.00 and break above 1215.75

The bears need to break below 1183.00 to have a shot at the 1142.50 level.

Well we broke below 1183 and closed right around 1172, which to me is a bearish close. However to keep things in perspective, this is pretty much the same price we traded at last Friday…..The next level the bulls must defend is 1132.75.

It will be interesting to see which direction this market takes after the long weekend.

Wishing all of you a great, long Labor Day weekend. recharge, relax, enjoy and see you next week! You can view the Labor Day 2011 futures trading hours below.

View Labor Day 2011 Holiday Futures Trading Hours

Daily chart of Mini Russell 2000 including a sell signal I got yesterday after the close for your review below.

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2. Support and Resistance Levels!

Contract (Sept. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1198.23 2274.25 11745 730.13
Resistance 2 1191.62 2248.00 11631 719.77
Resistance 1 1181.93 2208.25 11426 700.33
Pivot 1175.32 2182.00 11312 689.97
Support 1 1165.63 2142.25 11107 670.53
Support 2 1159.02 2116.00 10993 660.17
Support 3 1149.33 2076.25 10788 640.73

 

Contract Dec. Gold Sept. Euro Oct. Crude Oil Dec. Bonds
Resistance 3 1916.9 1.4365 92.26 145 2/32
Resistance 2 1900.7 1.4326 90.62 142 23/32
Resistance 1 1892.7 1.4258 88.69 141 16/32
Pivot 1876.5 1.4219 87.05 139 5/32
Support 1 1868.5 1.4151 85.12 137 30/32
Support 2 1852.3 1.4112 83.48 135 19/32
Support 3 1844.3 1.4044 81.55 134 12/32

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3. Daily Futures chart for Mini Russell 2000 from September 2nd, 2011

Daily Futures chart for Mini Russell 2000 from September 2nd, 2011

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4a. Economic Reports Monday September 5th, 2011

Bank Holiday
8:30am USD

4b. Economic Reports Tuesday September 6th, 2011

ISM Non-Manufacturing PMI
10:00am USD

Economics Report Source: http://www.forexfactory.com/calendar.php

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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 herein 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!

Labor Day 2011 Holiday Futures Trading Hours

Posted on by Ilan

Labor Day Holiday Trading Hours

The exchange holiday trading hours are listed below, please contact us if you have any questions!

Friday, September 2 Schedule

CME Group (Floor)

Regular Close

NYMEX (Floor)

Regular Close

GLOBEX

3:15 pm Close: CME Interest Rate, CBOT Financial, Foreign Exchange, GSCI, Wood Pulp, Crude Palm Oil and Green Exchange products

* All other products regular close

ICE

3:15 pm Close: Index and Financial products

* All other products regular close

EUREX

Regular Close

OneChicago

Regular Close

NYSE

Regular Close

Forex

Regular Close

Sunday, September 4 Schedule

CME Group (Floor)

Closed

NYMEX (Floor)

Closed

GLOBEX

Regular Open

* Exceptions – Dairy, Crude Palm Oil, GSCI, Lumber, Weather, CBOT/KCBT/MGEX Grains, MGEX Apple Juice, Ethanol, TRAKRS, Dow UBS ER and Livestock products closed

ICE

Regular Open

* Exceptions – Soft and Open outcry products closed

EUREX

Regular Open

* Exceptions – US, Brazilian, Canadian Equity Derivatives and Hurricane Futures closed

OneChicago

Closed

NYSE

Closed

Forex

Regular Open

Monday, September 5 Schedule

CME Group (Floor)

Closed

NYMEX (Floor)

Closed

GLOBEX

Closed: Dairy, Crude Palm Oil, GSCI, Lumber, Weather, CBOT/KCBT/MGEX Grains, MGEX Apple Juice, Ethanol, TRAKRS, Dow UBS ER and Livestock products

10:30 am Close: Equity products

12:00 pm Close: CME Interest Rate, CBOT Financial, Foreign Exchange, Real Estate, and Wood Pulp products

12:15 pm Close: NYMEX/COMEX/DME and Green Exchange products

*Trading Resumes at the times listed below*

5:00 pm Open: Equity, Interest Rate, Foreign Exchange, Dairy, Crude Palm Oil, Livestock, GSCI, Lumber, Weather, Real Estate, Wood Pulp, NYMEX/COMEX/DME and Green Exchange products

5:30 pm Open: Financial products

6:00 pm Open: CBOT/KCBT/MGEX Grain and Ethanol products

ICE

Closed: Softs and Open outcry products

10:30 am Close: Index products

12:00 pm Close: Financial products

EUREX

Closed: US, Brazilian, Canadian Equity Derivatives and Hurricane Futures

*No cash payment in USD

OneChicago

Closed

NYSE

Closed

Forex

Regular Close

Download the PDF version of the CME Globex Labor Day Holiday Schedule.

Or you can visit The ICE Exchange Labor Day Holiday Calendar page.

*All hours listed in Central Time

The above calendar is compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The closing times for certain contracts may have been rescheduled.

If you have any questions please contact your broker.

Monthly Job Report May Move the Markets | Support and Resistance Levels

Posted on by Ilan

In this post:
1. Market Commentary
2. Daily Futures Chart for Mini S&P 500
3. Support and Resistance Levels
4. Economic Reports
5. Highlighted Earnings Releases

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1. Market Commentary

Monthly unemployment is sure to move the market tomorrow morning…the big question is which way and to be honest , I have no idea…..

i am getting mixed signals from the chart perspective and there is a case both for the bulls and the bears.

The bulls need to hold above 1183.00 and break above 1215.75

The bears need to break below 1183.00 to have a shot at the 1142.50 level.

I am sure we can see wild and wide swings when the report comes out tomorrow morning before cash open and through out the trading session as large traders will try to square their positions ahead of the long, Labor day weekend.

When is doubt, stay out until you have a clearer picture of what you think the market will do.

See the Labor Day Holiday Trading Hours at our weekly newsletter.

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2. Support and Resistance Levels!

Contract (Sept. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1246.43 2300.75 11865 758.03
Resistance 2 1237.22 2282.25 11785 746.57
Resistance 1 1220.73 2252.50 11635 728.53
Pivot 1211.52 2234.00 11555 717.07
Support 1 1195.03 2204.25 11405 699.03
Support 2 1185.82 2185.75 11325 687.57
Support 3 1169.33 2156.00 11175 669.53

 

Contract Dec. Gold Sept. Euro Oct. Crude Oil Dec. Bonds
Resistance 3 1853.5 1.4510 91.43 140 25/32
Resistance 2 1843.5 1.4444 90.66 139 4/32
Resistance 1 1835.4 1.4356 89.74 138 11/32
Pivot 1825.4 1.4290 88.97 136 22/32
Support 1 1817.3 1.4202 88.05 135 29/32
Support 2 1807.3 1.4136 87.28 134 8/32
Support 3 1799.2 1.4048 86.36 133 15/32

Continue reading “Monthly Job Report May Move the Markets | Support and Resistance Levels”

Higher Market Volatility During Labor Day Weekend | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Economic Reports
4. Highlighted Earnings Releases

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1. Market Commentary

Next two days are full of economic reports and ahead of Labor Day weekend.

I expect even higher volatility the next two trading days.

Wishing you a great trading month in September.

Our weekly newsletter, includes a good article on volume/ open interest along with Holiday Trading Hours.

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. Continue reading “Higher Market Volatility During Labor Day Weekend | Support and Resistance Levels”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.