Volatility Continues in Futures Markets & Economic Reports 8.28.2015
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 August 28, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
The volatility continues….some fast, large intraday moves.
One thing really jumps at me today and that is that most traders spend so much time on when to buy, when to sell, exit and entry strategies etc. and so little time on proper money management and position size.
During this type of volatility, one must reduce trading size in my opinion.
Stops have to be wider , hence position size needs to be smaller.
You have to calculate your daily risk limit and set daily profit targets as well.
I wrote much more about this topic in this article that was published few years back in SFO magazine.
Read it here. Survive to trade another day……
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 Sept. 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2064.25 | 4500.25 | 17246 | 1194.43 | 97.28 |
| Resistance 2 | 2027.25 | 4416.50 | 16954 | 1175.67 | 96.67 |
| Resistance 1 | 2008.50 | 4372.75 | 16803 | 1164.43 | 96.24 |
| Pivot | 1971.50 | 4289.00 | 16511 | 1145.67 | 95.63 |
| Support 1 | 1952.75 | 4245.25 | 16360 | 1134.43 | 95.19 |
| Support 2 | 1915.75 | 4161.50 | 16068 | 1115.67 | 94.58 |
| Support 3 | 1897.00 | 4117.75 | 15917 | 1104.43 | 94.15 |
| Contract | Dec. Gold | Dec. Silver | Oct. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1141.0 | 15.16 | 48.03 | 160 20/32 | 1.1502 |
| Resistance 2 | 1134.7 | 14.87 | 45.44 | 158 28/32 | 1.1435 |
| Resistance 1 | 1129.5 | 14.65 | 44.12 | 157 17/32 | 1.1340 |
| Pivot | 1123.2 | 14.36 | 41.53 | 155 25/32 | 1.1273 |
| Support 1 | 1118.0 | 14.14 | 40.21 | 154 14/32 | 1.1178 |
| Support 2 | 1111.7 | 13.85 | 37.62 | 152 22/32 | 1.1111 |
| Support 3 | 1106.5 | 13.63 | 36.30 | 151 11/32 | 1.1016 |
| Contract | Dec. Corn | Dec. Wheat | Nov Beans | Dec. SoyMeal | Oct. Nat Gas |
| Resistance 3 | 385.9 | 510.6 | 897.33 | 322.20 | 2.78 |
| Resistance 2 | 382.3 | 505.4 | 890.67 | 320.00 | 2.74 |
| Resistance 1 | 378.7 | 497.6 | 884.83 | 317.50 | 2.71 |
| Pivot | 375.1 | 492.4 | 878.17 | 315.30 | 2.68 |
| Support 1 | 371.4 | 484.6 | 872.3 | 312.8 | 2.6 |
| Support 2 | 367.8 | 479.4 | 865.67 | 310.60 | 2.61 |
| Support 3 | 364.2 | 471.6 | 859.83 | 308.10 | 2.57 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:49pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriAug 28 | All Day | EUR | German Prelim CPI m/m | -0.1% | 0.2% | ||||
| 3:00am | EUR | Spanish Flash CPI y/y | -0.1% | 0.1% | |||||
| Tentative | EUR | Italian 10-y Bond Auction | 1.83|1.4 | ||||||
| 8:30am | USD | Goods Trade Balance | -62.3B | ||||||
| USD | Core PCE Price Index m/m | 0.1% | 0.1% | ||||||
| USD | Personal Spending m/m | 0.4% | 0.2% | ||||||
| USD | Personal Income m/m | 0.4% | 0.4% | ||||||
| 10:00am | USD | Revised UoM Consumer Sentiment | 93.2 | 92.9 | |||||
| USD | Revised UoM Inflation Expectations | 2.8% | |||||||
| Day 2 | ALL | Jackson Hole Symposium |
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.
