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Daily Futures Trading Levels and Economic Reports
Economic Reports and Expiration Notices
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Cannon Trading / E-Futures.com
April 21, 2009
Greetings!
So far the market has cooperated nicely with some Fibonnaci levels. We opened right at 823 level and worked gradually higher the rest of the day to close right against current resistance levels at 848-851. The big question....whats next?
Well there are a few areas of resistance stacked together between 848 to 856, if the market can clear these levels, the door is open for a second run at the highs of 872. On the flip side, failure to clear and a break below 838 opens the door for 823 and then 811. I guess earnings later today and housing numbers tomorrow morning will determine that.
Good Trading!
Futures Trading Levels
| Contract (June 2009) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 881.57 | 1366.33 | 8185 | 496.53 |
| Resistance 2 | 865.03 | 1348.67 | 8058 | 483.07 |
| Resistance 1 | 856.37 | 1338.33 | 7990 | 475.43 |
| Pivot | 839.83 | 1320.67 | 7863 | 461.97 |
| Support 1 | 831.17 | 1310.33 | 7795 | 454.33 |
| Support 2 | 814.63 | 1292.67 | 7668 | 440.87 |
| Support 3 | 805.97 | 1282.33 | 7600 | 433.23 |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 910.80 | 1.3086 | 52.2833 | 129 4/32 |
| Resistance 2 | 903.60 | 1.3038 | 50.7867 | 128 12/32 |
| Resistance 1 | 893.90 | 1.2986 | 49.7133 | 127 |
| Pivot | 886.70 | 1.2938 | 48.2167 | 126 8/32 |
| Support 1 | 877.00 | 1.2886 | 47.1433 | 124 28/32 |
| Support 2 | 869.80 | 1.2838 | 45.6467 | 124 4/32 |
| Support 3 | 860.10 | 1.2786 | 44.5733 | 122 24/32 |
Economic Reports
provided by Trade The News
Economic
10:00am Feb House Price Index m/m (last 1.7%)
10:30am DoE Crude Oil/Gasoline/Distillate Inventories
Events
10:00am Treasury Sec Geithner testifies before Congressional panel on TARP. 10:00am GE Annual Meeting. MBA Mortgage Applications (7:00, last -11%). Trades Ex-dividend: CL $0.44, PLL $0.145.
Earnings
Before the Open: APD, AAI, ATI, MO, ABFS, T, ATMI, BA, CHE, CAL, CFR, DOV, ELN, ECA, FCX, GNTX, GENZ, IGTE, IMN, IR, JAKK, JRN, KNSY, KMB, NITE, NOC, LII, MCD, MKSI, MS, PBG, PAS, PFCB, PDS, PFS, RYN, RIMG, R, SNA, STJ, SY, SNV, TDY, TIN, WLP, WFC, WIT, WWW. During Trading Hours: EGN, SUSQ. After the Close: AATI, AFFX, ACL, ADS, AB, DOX, AAPL, ASIA, AF, AXYS, BCR, CMG, CTXS, CNS, COHR, CLB, EXBD, CSGP, CVA, DAC, EBAY, EPIQ, EFX, EQIX, FFIV, FIC, DAVE, FR, FMC, GGG, GSIC, HUBG, ISIL, IRBT, KEX, LRCX, LHO, LEG, LOGI, MTSC, NTGR, NFX, NE, NVLS, NUVA, OPWV, PTV, PTP, PHM, QCOM, QDEL, RJF, RCRC, RHI, RUSHA, SEIC, SKX, SLM, STLD, SRDX, TER, TMK, TSCO, TQNT, TBI, WOOF, VTNC, VMW, WGOV, XLNX, YUM.
Note all time are EST. ANY AND ALL TIMES AND DATES ARE SUBJECT TO CHANGE WITHOUT NOTICE. INFORMATION HAS BEEN TAKEN FROM SOURCES DEEMED TO BE RELIABLE, BUT NO ASSURANCES CAN BE MADE TO THE ACCURACY OF ANY OF THIS INFORMATION.
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!
Click the image below to enlarge.
June lean hog futures at the Chicago Mercantile Exchange have seen a potentially bearish symmetrical triangle pattern form on the daily bar chart. Trend lines can be drawn from recent highs and recent lows in June hogs to form the triangle. Symmetrical triangles are continuation patterns. Given that the most recent dominant price trend on the daily chart for June lean hogs is down, technical odds do favor a downside "breakout" from the triangle pattern. It would take a solid push in June hogs below trend-line support at the $71.00 level to begin to produce a bearish downside breakout from the triangle pattern on the daily chart. Measuring implications from this particular chart pattern suggest a downside price objective of $63.00, should a bearish downside breakout occur soon. The bulls would regain fresh upside near-term technical momentum by pushing and closing June lean hog futures prices back above strong trend-line resistance at $75.00.
Visit our educational series on chart patterns in futures trading to read more about descending triangles.
Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at Jim Wyckoff
Add grain prices to your site:
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 04/23 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Existing Home Sales(Mar) 9:35 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
FN: May Crude Oil(NYM)
|
| 04/24 Fri |
7:30 AM CDT - Dairy Products Prices
7:30 AM CDT - Durable Orders(Mar) 9:00 AM CDT - New Home Sales(Mar) |
LT: May 2,5,10 Year Notes Options(CBT)
May Bonds Options(CBT) May Corn Options(CBT) May Oats Options(CBT) May Rough Rice(CBT) May Wheat Options(CBT) May Soybeans Options(CBT) May Soyoil Options(CBT) May Soymeal Options(CBT) |
| 04/27 Mon |
|
LT: May Copper Options(CMX)
May Gold Options(CMX) May Silver Options(CMX) May Heating Oil Options(NYM) May RBOB Gasoline Options(NYM) May Natural Gas Options(NYM) |
| 04/28 Tue |
8:00 AM CDT - Consumer Confidence(Apr)
FOMC Meeting |
LT: Apr Gold(CMX)
Apr Copper(CMX) Apr Silver(CMX) Apr Platinum(CMX) Apr Palladium(CMX) May Natural Gas(NYM) |
| 04/29 Wed |
7:30 AM CDT - Chain Deflator-Adv(Q1)
7:30 AM CDT - GDP-Adv(Q1) 9:35 AM CDT - API & DOE Energy Stats 1:15 PM CDT - FOMC Rate Decision |
FN: May Natural Gas(NYM)
|
| 04/30 Thu |
7:30 AM CDT - Personal Income & Spending(Mar)
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 8:45 AM CDT - Chicago PMI(Apr) 9:00 AM CDT - Employment Cost Index(Q1) 9:35 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
FN: May Gold(CBT)
May Silver(CMX) May Copper(CMX) May Platinum(CMX) May Palladium(CMX) May Corn(CBT) May Oats(CBT) May Rough Rice(CBT) May Wheat(CBT) May Soybeans(CBT) May Soyoil(CBT) May Soymeal(CBT) LT: Apr Feeder Cattle(CME) Apr Live Cattle(CME) Apr Fed Funds(CBT) May Heating Oil(NYM) May RBOB Gasoline(NYM) Apr Live Cattle Options(CME) Apr Feeder Cattle Options(CME) May Lumber Options(CME) |
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** 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!