Economic Reports and Trading Levels for February 7, 2013

Economic Reports and Trading Levels for February 7, 2013

 

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 February 7, 2013

 

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading!

 

Busy morning tomorrow with some numbers out of Euro Zone and weekly unemployment here. All this will take place before the cash open ( see calendar below)

 

At the moment, stock index futures are a bit confusing to me….I am not getting any reading if we are about to make another leg up or if we are topping out….when that happens, one needs to wait on the sidelines.

 

The above refers to my “swing trading”, medium trading outlook. As far as day trading, each day has a different personality. Some days are within a range, two sided action, some days are more trend days and some days are just pure volatile. Not easy to asses what day you may have ahead when you start trading but keeping a trading journal can help you with that and much more.

In my journal I write what reports we had, market action to reports, market behavior. I also write down what mistakes I made and feelings/ emotions and much more. I promise you that keeping a trading journal will only help your trading. More on that topic in next few blogs.

 

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.

 

support and resistance levels

 

5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:04pm Currency Impact Detail Actual Forecast Previous Graph
ThuFeb 7  2:45am EUR French Trade Balance -4.2B -4.3B
Day 1 EUR EU Economic Summit
Tentative EUR French 10-y Bond Auction 2.07|1.7
6:00am EUR German Industrial Production m/m 0.2% 0.2%
7:45am EUR Minimum Bid Rate 0.75% 0.75%
8:30am EUR ECB Press Conference
USD Unemployment Claims 361K 368K
USD Prelim Nonfarm Productivity q/q -1.3% 2.9%
USD Prelim Unit Labor Costs q/q 3.1% -1.9%
9:30am USD FOMC Member Stein Speaks
10:30am USD Natural Gas Storage -135B -194B
3:00pm USD Consumer Credit m/m 14.1B 16.0B
8:00pm USD FOMC Member Evans 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

Tags: > > > Posted in: Future Trading News  

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