Volatility Continues in Futures Markets & Economic Reports 8.28.2015

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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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Futures Trading Levels

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
Economic Reports

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.

 

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