Futures Trading levels and Economic reports for Oct. 13th
Words can not describe what we have witnessed over the last few weeks and especially the past few days.
Unseen volatility, huge moves in a matter of seconds and much more – are the norm these days rather than the exception.
Not much I can tell you that you have not seen on the screen or heard on the news. One thing I can recommend is to be 5 times more conservative as far as the day trading margin you use (in some cases this is actually enforced by the clearing house, some which have raised day-trading margins to full overnight margins).
If you are used to trading 2-3 contracts at a time with $5,000 or so, you need to switch to trading 1 contract and so on. The spikes and moves are so large that if you are trading in this environment you must be willing to take a bit more heat than normal and in order to do so, one must reduce their trading size.
Have a good weekend.
| Contract (Dec. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1043.33 | 1474.00 | 9892 | 611.10 |
| Resistance 2 | 992.67 | 1402.00 | 9395 | 570.40 |
| Resistance 1 | 939.83 | 1341.00 | 8893 | 543.60 |
| Pivot | 889.17 | 1269.00 | 8396 | 502.90 |
| Support 1 | 836.33 | 1208.00 | 7894 | 476.10 |
| Support 2 | 785.67 | 1136.00 | 7397 | 435.40 |
| Support 3 | 732.83 | 1075.00 | 6895 | 408.60 |
| Contract | Dec Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
| Resistance 3 | 1020.50 | 1.4058 | 92.82 | 119 9/32 |
| Resistance 2 | 978.40 | 1.3875 | 88.98 | 118 15/32 |
| Resistance 1 | 913.20 | 1.3646 | 84.78 | 117 21/32 |
| Pivot | 871.10 | 1.3463 | 80.94 | 116 27/32 |
| Support 1 | 805.90 | 1.3234 | 76.74 | 116 1/32 |
| Support 2 | 763.80 | 1.3051 | 72.90 | 115 7/32 |
| Support 3 | 698.60 | 1.2822 | 68.70 | 114 13/32 |
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
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!
Sincerely,
Ilan Levy-Mayer, M.B.A
Vice President / commodity broker
Cannon Trading Co Inc. - home of online futures trading
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannontrading.com
Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #515
Beverly Hills, Ca 90210
posted by Cannon Trading at 1:22 PM
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