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 Wednesday November 09, 2016
Elections and Margins note:
With elections taking place, most of our FCMs ( clearing firms) raised the daytrading margins to either 50% or 100% of the overnight level.
This is currently not affecting Transact and Shogun users.
An example may be that you could normally day trade crude oil with $800 per contract but for Tonight through Wednesday morning you will need either full margin in the amount of approximately $4,000 or 50% which will be $2,000.
Not all software and clearing houses did so but we recommend you contact your broker to find out exactly what your margins are set at. This is a temporary increase ahead of anticipated volatility.
In my opinion this will help you protect yourself just as much as it does the firm….
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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Levels for Trade Date of 11.09.2016
|Contract Dec. 2016||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Dec. Gold||Dec. Silver||Dec. Crude Oil||Dec. Bonds||Dec. Euro|
|Resistance 3||1305.5||19.21||46.26||164 14/32||1.1130|
|Resistance 2||1298.5||18.97||45.83||163 27/32||1.1107|
|Resistance 1||1287.3||18.66||45.28||162 30/32||1.1072|
|Support 1||1269.1||18.10||44.30||161 14/32||1.1014|
|Support 2||1262.1||17.86||43.87||160 27/32||1.0991|
|Support 3||1250.9||17.55||43.32||159 30/32||1.0956|
|Contract||Dec. Corn||Dec. Wheat||Jan. Beans||Dec. SoyMeal||Dec. Nat Gas|
Goods Trade Balance
EU Economic Forecasts
Final Wholesale Inventories m/m
Crude Oil Inventories
MPC Member Haldane Speaks
10-y Bond Auction
RICS House Price Balance