Futures Trading Levels and Economic Reports for August 15, 2013
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 Thursday August 15, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
I will try to share once in a while some “swing trade set ups” I share with my broker assist clients in hopes of showing different angle to trading and other trading types than day-trading.
Today is a set up in the Euro currency market.
Based on research I have done with the most active futures markets, I have applied 2 of the most successful of my 5 ALGOS to each specific market based on the past behavior ( past performance is not indicative of future results). As you can see from the chart, the two algos I use for the euro are marked with triangles and + sign.
I then use experience and knowledge I have accumulated over the years to determine stops and exits.
In this case I got a sell signal to go short the euro. For me personally signals need what I call price confirmation, so in this case I would go short the Euro at 132.33 on a stop. So unless price action takes out what I consider support level, i will not be short.
If and once I am in the market, I will use 131.51 as my initial target and 133.61 as my initial stop.
Chart for your review below. Any questions, please let me know and I will be happy to assist.
EUG – Euro FX (Globex), Equalized Active Daily Continuation
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS
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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.
| Contract Sept. 2013 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1701.08 | 3158.58 | 15536 | 1056.80 | 82.14 |
| Resistance 2 | 1697.17 | 3151.17 | 15481 | 1054.50 | 82.02 |
| Resistance 1 | 1689.33 | 3136.83 | 15391 | 1050.10 | 81.89 |
| Pivot | 1685.42 | 3129.42 | 15336 | 1047.80 | 81.78 |
| Support 1 | 1677.58 | 3115.08 | 15246 | 1043.40 | 81.65 |
| Support 2 | 1673.67 | 3107.67 | 15191 | 1041.10 | 81.53 |
| Support 3 | 1665.83 | 3093.33 | 15101 | 1036.70 | 81.40 |
| Contract | Dec. Gold | Sept. Silver | Sept. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1361.9 | 2263.5 | 108.92 | 133 14/32 | 1.3326 |
| Resistance 2 | 1348.7 | 2224.5 | 107.99 | 133 6/32 | 1.3305 |
| Resistance 1 | 1341.6 | 2204.5 | 107.46 | 132 30/32 | 1.3282 |
| Pivot | 1328.4 | 2165.5 | 106.53 | 132 22/32 | 1.3261 |
| Support 1 | 1321.3 | 2145.5 | 106.00 | 132 14/32 | 1.3238 |
| Support 2 | 1308.1 | 2106.5 | 105.07 | 132 6/32 | 1.3217 |
| Support 3 | 1301.0 | 2086.5 | 104.54 | 131 30/32 | 1.3194 |
| Contract | Dec Corn | Dec. Wheat | Nov.Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 466.2 | 647.8 | 1263.42 | 396.27 | 42.93 |
| Resistance 2 | 461.1 | 645.3 | 1251.33 | 387.83 | 42.86 |
| Resistance 1 | 458.2 | 644.0 | 1245.17 | 383.47 | 42.75 |
| Pivot | 453.1 | 641.5 | 1233.08 | 375.03 | 42.68 |
| Support 1 | 450.2 | 640.3 | 1226.9 | 370.7 | 42.6 |
| Support 2 | 445.1 | 637.8 | 1214.83 | 362.23 | 42.50 |
| Support 3 | 442.2 | 636.5 | 1208.67 | 357.87 | 42.39 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:21pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuAug 15 | All Day | EUR | French Bank Holiday | ||||||
| All Day | EUR | Italian Bank Holiday | |||||||
| 8:15am | USD | FOMC Member Bullard Speaks | |||||||
| 8:30am | USD | Core CPI m/m | 0.2% | 0.2% | |||||
| USD | Unemployment Claims | 334K | 333K | ||||||
| USD | CPI m/m | 0.2% | 0.5% | ||||||
| USD | Empire State Manufacturing Index | 10.2 | 9.5 | ||||||
| 9:00am | USD | TIC Long-Term Purchases | 31.3B | -27.2B | |||||
| 9:15am | USD | Capacity Utilization Rate | 77.9% | 77.8% | |||||
| USD | Industrial Production m/m | 0.5% | 0.3% | ||||||
| 10:00am | USD | Philly Fed Manufacturing Index | 15.6 | 19.8 | |||||
| USD | NAHB Housing Market Index | 57 | 57 | ||||||
| 10:30am | USD | Natural Gas Storage | 73B | 96B |
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
