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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 Tuesday October 28, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
Big week ahead for stock index futures as well as other markets.
We have FOMC taking place tomorrow and Wednesday with rate announcement coming out Wednesday.
A few other reports that did not take place during the shut down are released this week. Make sure you check forexfactory.com for updated report times.
I think that stock index futures have been a little harder to trade these past few years…With the Fed injecting money using the QE program, the “normal market forces” are not in play as much as in other markets. I personally miss the days where stock index futures traded “freely” and can’t wait for what I consider normal, free market forces to determine price action. That being said, it is what it is and I guess FED action is part of the market right now and we as traders need to adjust.
What i wrote above is part of the reason i find markets like crude oil, gold, grains and even bond futures more appealing for trading. So if any of you have some what of a similar feeling to what I described above and looking for alternative markets – let me know and I can be of help by suggesting different markets and pointing out some of the characteristics for the different markets.
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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.
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Contract Dec. 2013 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
Resistance 3 | 1774.08 | 3417.83 | 15677 | 1132.93 | 79.73 |
Resistance 2 | 1768.17 | 3403.67 | 15625 | 1127.07 | 79.59 |
Resistance 1 | 1763.33 | 3391.58 | 15571 | 1121.63 | 79.49 |
Pivot | 1757.42 | 3377.42 | 15519 | 1115.77 | 79.35 |
Support 1 | 1752.58 | 3365.33 | 15465 | 1110.33 | 79.25 |
Support 2 | 1746.67 | 3351.17 | 15413 | 1104.47 | 79.11 |
Support 3 | 1741.83 | 3339.08 | 15359 | 1099.03 | 79.01 |
Contract | Dec. Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
Resistance 3 | 1376.8 | 2302.2 | 100.59 | 135 27/32 | 1.3856 |
Resistance 2 | 1369.3 | 2286.8 | 99.70 | 135 20/32 | 1.3838 |
Resistance 1 | 1361.1 | 2268.2 | 99.14 | 135 12/32 | 1.3813 |
Pivot | 1353.6 | 2252.8 | 98.25 | 135 5/32 | 1.3795 |
Support 1 | 1345.4 | 2234.2 | 97.69 | 134 29/32 | 1.3770 |
Support 2 | 1337.9 | 2218.8 | 96.80 | 134 22/32 | 1.3752 |
Support 3 | 1329.7 | 2200.2 | 96.24 | 134 14/32 | 1.3727 |
Contract | Dec Corn | Dec. Wheat | Jan .Beans | Dec. SoyMeal | Dec. bean Oil |
Resistance 3 | 443.9 | 691.0 | 1301.00 | 434.13 | 41.37 |
Resistance 2 | 441.1 | 689.0 | 1294.00 | 429.17 | 41.15 |
Resistance 1 | 435.9 | 685.0 | 1281.00 | 421.93 | 40.75 |
Pivot | 433.1 | 683.0 | 1274.00 | 416.97 | 40.53 |
Support 1 | 427.9 | 679.0 | 1261.0 | 409.7 | 40.1 |
Support 2 | 425.1 | 677.0 | 1254.00 | 404.77 | 39.91 |
Support 3 | 419.9 | 673.0 | 1241.00 | 397.53 | 39.51 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
Date | 3:53pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
---|---|---|---|---|---|---|---|---|---|
TueOct 29 | 3:00am | EUR | GfK German Consumer Climate | 7.3 | 7.1 | ||||
8:30am | USD | Core Retail Sales m/m | 0.4% | 0.1% | |||||
USD | PPI m/m | 0.2% | 0.3% | ||||||
USD | Retail Sales m/m | 0.2% | 0.2% | ||||||
USD | Core PPI m/m | 0.1% | 0.0% | ||||||
9:00am | USD | S&P/CS Composite-20 HPI y/y | 12.4% | 12.4% | |||||
10:00am | USD | CB Consumer Confidence | 75.2 | 79.7 | |||||
USD | Business Inventories m/m | 0.3% | 0.4% |
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.