Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 13, 2015
For 2015 I would like to wish all of you discipline and patience in your trading!
Dull day in most markets with low volume ( with the exception of the energy sector). I was trying to think of something helpful to share with my readers and couldn’t really think of anything specific….so instead I decided to share with you one of the post-its I have glued to one of my screens….my reminder of the need to stay disciplined to a system I developed…..it says:”STUPID PEOPLE do the same things looking to achieve different results. Don’t let your emotions run your trading. Let the system run, you put too much work & time into it. Learn from past mistakes and adjust”
So whatever speaks to you that will help you stick to your money management rules and be discipline, type it, print it, place it some where visible….
Every so often when I think I need to “manually interfere with my system”, I look at my post-it and take a small time out. That helps me stay disciplined.
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. 2015||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Dec. Gold||Dec. Silver||Nov. Crude Oil||Dec. Bonds||Dec. Euro|
|Resistance 3||1183.3||16.33||52.43||159 2/32||1.1439|
|Resistance 2||1176.0||16.20||51.28||158 16/32||1.1424|
|Resistance 1||1169.0||16.02||49.34||158 6/32||1.1398|
|Support 1||1154.7||15.71||46.25||157 10/32||1.1357|
|Support 2||1147.4||15.58||45.10||156 24/32||1.1342|
|Support 3||1140.4||15.40||43.16||156 14/32||1.1316|
|Contract||Dec. Corn||Dec. Wheat||Nov Beans||Dec. SoyMeal||Nov. Nat Gas|
|TueOct 13||2:00am||EUR||German Final CPI m/m||-0.2%||-0.2%|
|EUR||German WPI m/m||-0.3%||-0.8%|
|5:00am||EUR||German ZEW Economic Sentiment||6.8||12.1|
|EUR||ZEW Economic Sentiment||30.1||33.3|
|6:00am||USD||NFIB Small Business Index||95.6||95.9|
|2:00pm||USD||Federal Budget Balance||93.8B||-64.4B|
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 judgment in trading.