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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 January 17, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
I really don’t think anyone has found a “perfect way” to day-trade.
Different techniques work well in different market environment.
The chart below illustrates a few principals I like:
- It uses a tick chart rather than a time chart. I like tick charts better when day-trading shorter time frames for the simple reason it already includes a big factor in the market, VOLUME. If you are using 5 minutes chart for example, you may get signals simply because time “has passed” and certain indicators you are using adopt certain values. When using tick charts, at times where there is lots of movement in the market, you won’t have to wait until your time frame bar closes to get your signal, volume becomes a bigger more important part of your trading decision.
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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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| Contract March 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1853.08 | 3623.08 | 16529 | 1177.53 | 81.53 |
| Resistance 2 | 1848.42 | 3615.67 | 16477 | 1173.97 | 81.37 |
| Resistance 1 | 1843.83 | 3608.83 | 16415 | 1171.93 | 81.19 |
| Pivot | 1839.17 | 3601.42 | 16363 | 1168.37 | 81.03 |
| Support 1 | 1834.58 | 3594.58 | 16301 | 1166.33 | 80.86 |
| Support 2 | 1829.92 | 3587.17 | 16249 | 1162.77 | 80.70 |
| Support 3 | 1825.33 | 3580.33 | 16187 | 1160.73 | 80.52 |
| Contract | Feb. Gold | Mar. Silver | Feb. Crude Oil | Mar. Bonds | Mar. Euro |
| Resistance 3 | 1255.0 | 2051.0 | 95.69 | 132 6/32 | 1.3718 |
| Resistance 2 | 1250.0 | 2038.0 | 95.16 | 131 22/32 | 1.3683 |
| Resistance 1 | 1245.9 | 2023.0 | 94.65 | 131 13/32 | 1.3650 |
| Pivot | 1240.9 | 2010.0 | 94.12 | 130 29/32 | 1.3615 |
| Support 1 | 1236.8 | 1995.0 | 93.61 | 130 20/32 | 1.3582 |
| Support 2 | 1231.8 | 1982.0 | 93.08 | 130 4/32 | 1.3547 |
| Support 3 | 1227.7 | 1967.0 | 92.57 | 129 27/32 | 1.3514 |
| Contract | March Corn | March Wheat | March Beans | March SoyMeal | March bean Oil |
| Resistance 3 | 434.3 | 582.2 | 1342.33 | 447.67 | 38.61 |
| Resistance 2 | 432.0 | 577.6 | 1335.67 | 443.93 | 38.33 |
| Resistance 1 | 430.0 | 575.2 | 1325.33 | 437.97 | 38.19 |
| Pivot | 427.8 | 570.6 | 1318.67 | 434.23 | 37.91 |
| Support 1 | 425.8 | 568.2 | 1308.3 | 428.3 | 37.8 |
| Support 2 | 423.5 | 563.6 | 1301.67 | 424.53 | 37.49 |
| Support 3 | 421.5 | 561.2 | 1291.33 | 418.57 | 37.35 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:58pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriJan 17 | 2:45am | EUR | French Gov Budget Balance | -86.0B | |||||
| 8:30am | USD | Building Permits | 1.01M | 1.01M | |||||
| USD | Housing Starts | 0.99M | 1.09M | ||||||
| 9:15am | USD | Capacity Utilization Rate | 79.2% | 79.0% | |||||
| USD | Industrial Production m/m | 0.4% | 1.1% | ||||||
| 9:55am | USD | Prelim UoM Consumer Sentiment | 83.4 | 82.5 | |||||
| USD | Prelim UoM Inflation Expectations | 3.0% | |||||||
| 10:00am | USD | JOLTS Job Openings | 3.97M | 3.93M |
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