Trading Levels & Reports for June 14th – SP500 Trading in a Range
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Thursday June 14, 2012
Hello Traders,
First off heads up on some contract months changes:
1. Front month for stock indices, financials and many other markets is September.
2. June mini SP, mini NASDAQ, Russell, Dow etc. will expire Friday morning right before the open, so make sure you start trading September if you have not already done so!
3. June currencies are about to enter delivery stage, which can be costly. I highly recommend starting to trade September currencies as of Friday morning .
As far market direction, SP 500 still looks to be locked in between 1297 – 1342. My guess is that which ever way we going to break first will have chance for momentum continuation.
Be disciplined, be patient and trade well!
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.
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
| Contract Sept. 2012 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1335.27 | 2585.00 | 12633 | 775.97 | 83.17 |
| Resistance 2 | 1327.98 | 2569.00 | 12577 | 768.93 | 82.88 |
| Resistance 1 | 1318.37 | 2546.00 | 12498 | 758.97 | 82.50 |
| Pivot | 1311.08 | 2530.00 | 12442 | 751.93 | 82.21 |
| Support 1 | 1301.47 | 2507.00 | 12363 | 741.97 | 81.83 |
| Support 2 | 1294.18 | 2491.00 | 12307 | 734.93 | 81.54 |
| Support 3 | 1284.57 | 2468.00 | 12228 | 724.97 | 81.16 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | Aug Gold | June Euro | July Crude Oil | Sept. Bonds | |
| Resistance 3 | 1646.8 | 1.2772 | 85.54 | 151 20/32 | |
| Resistance 2 | 1636.4 | 1.2692 | 84.77 | 150 17/32 | |
| Resistance 1 | 1627.8 | 1.2635 | 83.68 | 149 26/32 | |
| Pivot | 1617.4 | 1.2555 | 82.91 | 148 23/32 | |
| Support 1 | 1608.8 | 1.2498 | 81.82 | 148 | |
| Support 2 | 1598.4 | 1.2418 | 81.05 | 146 29/32 | |
| Support 3 | 1589.8 | 1.2361 | 79.96 | 146 6/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | July Corn | July Wheat | July Beans | July Silver | |
| Resistance 3 | 623.7 | 626.3 | 1439.00 | 2942.8 | |
| Resistance 2 | 612.8 | 624.0 | 1431.75 | 2926.2 | |
| Resistance 1 | 602.7 | 620.0 | 1420.00 | 2903.3 | |
| Pivot | 591.8 | 617.8 | 1412.75 | 2886.7 | |
| Support 1 | 581.7 | 613.8 | 1401.0 | 2863.8 | |
| Support 2 | 570.8 | 611.5 | 1393.75 | 2847.2 | |
| Support 3 | 560.7 | 607.5 | 1382.00 | 2824.3 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
2:00am
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
