Rollover, CPI & Futures Trading Levels for 03.12.24 - Support & Resistance Levels

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.

Rollover, CPI & Futures Trading Levels for 03.12.24

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CPI Tomorrow – Trade June ES/NQ/YM and MICROS

by John Thorpe, Senior Broker


For all of you index traders, you may have noticed the shrinking Open Interest and Volume in the March contracts. It’s that time when volume shifts to the next quarterly expiration contract. June! the symbol is M.

March volume will be drying up quickly, don’t get stuck Friday morning with a March contract at the crack of dawn when the carousel stops. Start trading the June contract today!

According to Bloomberg, the S&P 500 has averaged an 0.8% move on CPI days over the past six months

Today, stocks are sideways, the dollar and gold are both up marginally as investors nervously await tomorrows 7:30 a.m. CDT Consumer Price Index release.

Last Month, on Feb 13th stocks slid sharply following the release and Treasury yields surged higher when a surprise CPI number, an Increase of 0.3% in January, crossed the newswires. Housing costs accounted for much of the price rise.

Overall prices are expected to rise 0.4% percent after increasing 0.3% percent in January. Annual rates, which in January were 3.1% percent overall and 3.9% percent for the core, are expected at 3.1% and 3.7% percent respectively. Per econoday.



Plan your trade and trade your plan


Watch video below on how to rollover from March to June contracts if you are a stock index trader on our E-Futures Platform!





Daily Levels for March 12th, 2024

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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 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 judgement in trading.

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