Veterans Day & Low Index Volatility & Economic Reports 11.12.2014

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.

Veterans Day & Low Index Volatility & Economic Reports 11.12.2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

 Spoke with a few nice clients today about trading, the recent low volatility in stock index futures and trading in general.

The main point, which I had to remind myself and clients is that we need to adjust our trading to the markets, the markets will not adjust their behavior to accommodate us.
More than a few examples:
  1. Stock Index futures back to “controlled/manipulated mode” with not much fear = tight ranges, most of the move happens overnight, low volatility.
  2. Veteran’s day today – If you are trading bonds like I do and did some homework from previous Veteran’s days, you would have found out that becuase the pit session in bonds is closed and the banks are closed, the preferred method for today would have been to counter trend any moves over 7 ticks from yesterday’s close. As it happened bonds were down about 11 ticks at the low for today and finished unchanged…..There are many more examples and keeping a good trading journal can help you keep track of your research and find certain days with high probability for certain behavior.


Talking about Veteran’s Day made me realize that yesterday’s blog should have been dedicated to our veterans and not about the markets, but better late than never…..:

From CNN:

Check your assumptions

“Veterans are very often stereotyped into two stock characters: the crying wounded or the guy who jumps the White House fence to get to the President,” said Paul Rieckhoff, the executive director of the Iraq and Afghanistan Veterans of America, a national nonprofit with more than 200,000 members.

“Don’t treat us like victims,” said Rieckhoff, an Amherst College graduate and former Wall Street investment analyst who led an Army platoon in Iraq in 2003 and 2004. “We’re not broken. We’ve been through a lot, but we’re rising out of it.”

While national discussion and media coverage of post-traumatic stress disorder has chipped away at some of the generations-old entrenched stigma associated with mental illness, many of these stories involving PTSD make headlines because they involve violence, Rieckhoff said.

It’s critical for everyone to remember that having PTSD doesn’t mean a person will be violent, and not every veteran has PTSD.

Each veteran has a unique story. Their military service has probably shaped them in profound ways, but they are not the sum total of that time. Take the time get to know one of them. They have a lot of lessons to share.

Invest in veterans – it’s good business

One of the biggest hurdles service members face after leaving the military is finding a job. About 77% of veterans have struggled through unemployment and more than a quarter have searched for more than a year for a job, according to Iraq and Afghanistan Veterans of America.

But there’s reason for hope, judging by recent figures from the U.S. Bureau of Labor Statistics. The unemployment rate for post 9/11 veterans peaked in January 2011 at 15.2%, CNNMoney reported. In October 2013, there was 10% unemployment. Last month, the job picture for veterans improved as unemployment hovered around 7%. (The national unemployment rate is 5.8%.)

Many corporations have launched new hiring initiatives for veterans. In April 2013, Walmart pledged to give 100,000 veterans jobs within five years. In November 2013, Starbucks launched a nationwide initiative to hire 10,000 veterans and spouses by the end of 2018. Uber is driving programs to hire veterans.

Want to hire a veteran? The Returning Heroes Tax Credit should provide a financial incentive. For veterans who need jobs, the veterans job bank and resources on the VA website might help.  



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. Past performance is not indicative to future results.


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Futures Trading Levels

Contract Dec. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2048.17 4217.58 17678 1190.83 88.75
Resistance 2 2043.58 4201.92 17641 1186.37 88.45
Resistance 1 2040.17 4193.33 17605 1182.73 88.03
Pivot 2035.58 4177.67 17568 1178.27 87.73
Support 1 2032.17 4169.08 17532 1174.63 87.30
Support 2 2027.58 4153.42 17495 1170.17 87.00
Support 3 2024.17 4144.83 17459 1166.53 86.58
Contract Dec. Gold Dec.Silver Dec. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1203.2 16.35 79.88 141 17/32 1.2631
Resistance 2 1187.8 16.12 78.96 141 10/32 1.2567
Resistance 1 1176.2 15.92 78.26 141 4/32 1.2524
Pivot 1160.8 15.68 77.34 140 29/32 1.2460
Support 1 1149.2 15.48 76.64 140 23/32 1.2417
Support 2 1133.8 15.25 75.72 140 16/32 1.2353
Support 3 1122.2 15.05 75.02 140 10/32 1.2310
Contract Dec Corn Dec. Wheat Jan. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 385.3 538.9 1124.17 436.63 33.53
Resistance 2 379.9 532.1 1097.33 420.67 33.26
Resistance 1 376.8 528.7 1080.67 410.63 33.07
Pivot 371.4 521.8 1053.83 394.67 32.80
Support 1 368.3 518.4 1037.2 384.6 32.6
Support 2 362.9 511.6 1010.33 368.67 32.34
Support 3 359.8 508.2 993.67 358.63 32.15
Economic Reports


All times are Eastern time Zone (EST)


Date 4:08pm Currency Impact Detail Actual Forecast Previous Graph
WedNov 12  2:00am EUR German WPI m/m 0.2% 0.1%
3:00am USD FOMC Member Plosser Speaks
5:00am EUR Industrial Production m/m 0.6% -1.8%
10:00am USD Wholesale Inventories m/m 0.3% 0.7%
12:00pm USD FOMC Member Kocherlakota Speaks
1:01pm USD 10-y Bond Auction 2.38|2.5


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.


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