Trading Levels and Reports for November 2, 2012
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Thursday November 1, 2012
Hello Traders,
Monthly Unemployment numbers tomorrow at 7:30 AM central time, an hour before cash open.
This is a market moving report so be aware!
| DESCRIPTION |
| Monthly change in employment excluding the farming sector. Nonfarm payrolls is an influential statistic and economic indicator released monthly by the US Bureau of Labor Statistics as part of a comprehensive report on the state of the labor market. Payroll jobs move with the economy and help define business cycles; the figure is therefore analysed to determine whether the economy is expanding or contracting.As the Federal Reserve is mandated to establish a monetary policy that ensures maximum employment, the Fed pays particular attention to this employment statistic. A surge in new nonfarm payrolls suggests rising employment and thus potential inflationary pressures, which the Fed often counters with rate increases. On the other hand, a consistent decline in nonfarm employment suggests a slowing economy, which makes a decrease in rates more likely. |
| WEB ADDRESS |
| http://www.bls.gov/ |
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GOOD TRADING!
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| Contract Dec. 2012 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1457.00 | 2757.92 | 13363 | 847.80 | 496.47 |
| Resistance 2 | 1440.50 | 2721.33 | 13287 | 837.40 | 493.23 |
| Resistance 1 | 1431.50 | 2700.42 | 13223 | 831.30 | 488.77 |
| Pivot | 1415.00 | 2663.83 | 13147 | 820.90 | 485.53 |
| Support 1 | 1406.00 | 2642.92 | 13083 | 814.80 | 481.07 |
| Support 2 | 1389.50 | 2606.33 | 13007 | 804.40 | 477.83 |
| Support 3 | 1380.50 | 2585.42 | 12943 | 798.30 | 473.37 |
| Contract | Dec Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1736.8 | 3306.2 | 89.08 | 149 19/32 | 1.3037 |
| Resistance 2 | 1732.2 | 3287.8 | 88.25 | 149 9/32 | 1.3012 |
| Resistance 1 | 1723.1 | 3255.7 | 87.58 | 148 29/32 | 1.2979 |
| Pivot | 1718.5 | 3237.3 | 86.75 | 148 19/32 | 1.2954 |
| Support 1 | 1709.4 | 3205.2 | 86.08 | 148 7/32 | 1.2921 |
| Support 2 | 1704.8 | 3186.8 | 85.25 | 147 29/32 | 1.2896 |
| Support 3 | 1695.7 | 3154.7 | 84.58 | 147 17/32 | 1.2863 |
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 768.8 | 877.5 | 1578.25 | 496.47 | 51.05 |
| Resistance 2 | 765.0 | 874.5 | 1574.00 | 493.23 | 50.88 |
| Resistance 1 | 758.0 | 871.5 | 1567.00 | 488.77 | 50.65 |
| Pivot | 754.3 | 868.5 | 1562.75 | 485.53 | 50.48 |
| Support 1 | 747.3 | 865.5 | 1555.8 | 481.1 | 50.3 |
| Support 2 | 743.5 | 862.5 | 1551.50 | 477.83 | 50.08 |
| Support 3 | 736.5 | 859.5 | 1544.50 | 473.37 | 49.85 |
5. Economic Reports
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
| Date | 3:52pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Fri
Nov 2
|
4:15am | EUR |
Spanish Manufacturing PMI
|
44.5 | |||||
| 4:45am | EUR |
Italian Manufacturing PMI
|
45.9 | 45.7 | |||||
| 5:00am | EUR |
Final Manufacturing PMI
|
45.3 | 45.3 | |||||
| 8:30am | USD |
Non-Farm Employment Change
|
123K | 114K | |||||
| 8:30am | USD |
Unemployment Rate
|
7.9% | 7.8% | |||||
| 8:30am | USD |
Average Hourly Earnings m/m
|
0.2% | 0.3% | |||||
| 10:00am | USD |
Factory Orders m/m
|
4.7% | -5.2% | |||||
| 2:25pm | USD |
FOMC Member Williams Speaks
|
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
