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 February 7, 2013
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.
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.
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