Economic Reports and Trading Levels for January 31, 2013

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

Economic Reports and Trading Levels for January 31, 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 January 31, 2013


Hello Traders,

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

 Pit traded SP 500 daily chart for your review below. In order for the market to have a chance at visiting the 1465 level, we need to see some follow through selling tomorrow. As long as market does NOT close above 1506, I I would look to attack it from the short side.





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.


levels for 1-31-13



5. Economic Reports


All times are Eastern time Zone (EST)

Date 10:18am Currency Impact Detail Actual Forecast Previous Graph
ThuJan 31 2:00am EUR German Retail Sales m/m -1.7% 0.1% 0.6%
All Day EUR German Prelim CPI m/m -0.5% -0.5% 0.9%
2:45am EUR French Consumer Spending m/m 0.0% 0.3% 0.2%
3:55am EUR German Unemployment Change -16K 9K -2K
7:30am USD Challenger Job Cuts y/y -24.4% -22.1%
8:30am USD Unemployment Claims 368K 362K 330K
USD Core PCE Price Index m/m 0.0% 0.1% 0.0%
USD Employment Cost Index q/q 0.5% 0.6% 0.4%
USD Personal Spending m/m 0.2% 0.4% 0.4%
USD Personal Income m/m 2.6% 0.7% 1.0%
9:45am USD Chicago PMI 55.6 51.1 51.6
 10:30am USD Natural Gas Storage -202B -172B

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

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