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Day Trading Mind Traps 9.08.2016

Posted on by Ilan

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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 September 8, 2016

Hello Traders,

Greetings!

Didn’t have anything of added value to share today so instead I am sharing a timeless article we published a couple of years ago about Day Trading Mind Traps!

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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Futures Trading Levels

Levels for Trade Date of  9.08.2016

Contract Sept. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2197.75 4868.33 18619 1273.27 95.50
Resistance 2 2192.25 4853.92 18580 1267.03 95.27
Resistance 1 2188.50 4841.33 18548 1263.57 95.12
Pivot 2183.00 4826.92 18509 1257.33 94.90
Support 1 2179.25 4814.33 18477 1253.87 94.75
Support 2 2173.75 4799.92 18438 1247.63 94.52
Support 3 2170.00 4787.33 18406 1244.17 94.37
Contract Dec. Gold Dec. Silver Oct. Crude Oil Dec. Bonds Sept.   Euro
Resistance 3 1366.5 20.55 46.87 172 6/32 1.1312
Resistance 2 1362.0 20.39 46.22 171 27/32 1.1294
Resistance 1 1355.8 20.13 45.84 171 11/32 1.1269
Pivot 1351.3 19.97 45.19 171 1.1251
Support 1 1345.1 19.71 44.81 170 16/32 1.1226
Support 2 1340.6 19.55 44.16 170 5/32 1.1208
Support 3 1334.4 19.29 43.78 169 21/32 1.1183
Contract Dec. Corn Dec. Wheat Nov. Beans Dec. SoyMeal Oct. Nat Gas
Resistance 3 338.8 410.2 988.75 327.50 2.81
Resistance 2 336.3 407.6 983.50 322.50 2.77
Resistance 1 334.8 405.2 979.50 319.60 2.73
Pivot 332.3 402.6 974.25 314.60 2.70
Support 1 330.8 400.2 970.3 311.7 2.6
Support 2 328.3 397.6 965.00 306.70 2.62
Support 3 326.8 395.2 961.00 303.80 2.57

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:57pm Currency Impact Detail Actual Forecast Previous Graph
ThuSep 8 1:30am EUR
French Final Non-Farm Payrolls q/q
 0.2% 0.2%
7:45am EUR
Minimum Bid Rate
 0.00% 0.00%
8:30am EUR
ECB Press Conference
USD
Unemployment Claims
 264K 263K
10:30am USD
Natural Gas Storage
 51B
11:00am USD
Crude Oil Inventories
 0.6M 2.3M
3:00pm USD
Consumer Credit m/m
 15.7B 12.3B

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 here in 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 judgement in trading.

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.