Futures Trading Levels and Economic Reports for April 24, 2013
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 April 24, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
Today we witnessed the possibility of erratic moves in the futures market.
From what I am reading, false rumors generated by hackers hit the news with: Explosions in the White House, Obama is hurt….
That resulted in the SP futures dropping 18 full points in matter of minutes. An intraday chart of mini SP 500 for your review below. Note the huge price drop and volume between 12:06 and 12:12 central time.
That brings me to a point that I like to share, using “auto brackets when entering a trade”. This is my personal preference but when I enter day-trades, I like my software to immediately generate a stop and a limit**. I have the ability to modify these stops/ targets but at least I have orders in the system. This can help in situations like today, when different reports come out etc.
Most of our trading platforms have that ability of auto brackets and you can test drive two of my favorite platforms for free:
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
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.
| Contract June 2013 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1608.58 | 2904.50 | 14941 | 955.43 | 83.89 |
| Resistance 2 | 1591.67 | 2871.75 | 14801 | 941.67 | 83.55 |
| Resistance 1 | 1582.58 | 2850.50 | 14724 | 934.33 | 83.34 |
| Pivot | 1565.67 | 2817.75 | 14584 | 920.57 | 83.00 |
| Support 1 | 1556.58 | 2796.50 | 14507 | 913.23 | 82.79 |
| Support 2 | 1539.67 | 2763.75 | 14367 | 899.47 | 82.45 |
| Support 3 | 1530.58 | 2742.50 | 14290 | 892.13 | 82.24 |
| Contract | June Gold | May Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1458.6 | 2420.8 | 91.54 | 150 6/32 | 1.3185 |
| Resistance 2 | 1445.7 | 2380.7 | 90.48 | 149 22/32 | 1.3137 |
| Resistance 1 | 1429.8 | 2335.8 | 89.91 | 148 27/32 | 1.3072 |
| Pivot | 1416.9 | 2295.7 | 88.85 | 148 11/32 | 1.3024 |
| Support 1 | 1401.0 | 2250.8 | 88.28 | 147 16/32 | 1.2959 |
| Support 2 | 1388.1 | 2210.7 | 87.22 | 147 | 1.2911 |
| Support 3 | 1372.2 | 2165.8 | 86.65 | 146 5/32 | 1.2846 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 624.7 | 699.3 | 1383.00 | 406.60 | 49.02 |
| Resistance 2 | 622.3 | 697.5 | 1376.00 | 404.30 | 48.78 |
| Resistance 1 | 618.2 | 696.5 | 1367.25 | 401.10 | 48.60 |
| Pivot | 615.8 | 694.8 | 1360.25 | 398.80 | 48.36 |
| Support 1 | 611.7 | 693.8 | 1351.5 | 395.6 | 48.2 |
| Support 2 | 609.3 | 692.0 | 1344.50 | 393.30 | 47.94 |
| Support 3 | 605.2 | 691.0 | 1335.75 | 390.10 | 47.76 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:54pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedApr 24 | 4:00am | EUR | German Ifo Business Climate | 106.4 | 106.7 | ||||
| EUR | Italian Retail Sales m/m | 0.4% | -0.5% | ||||||
| Tentative | EUR | German 30-y Bond Auction | 2.45|1.8 | ||||||
| 8:30am | USD | Core Durable Goods Orders m/m | 0.5% | -0.7% | |||||
| USD | Durable Goods Orders m/m | -2.9% | 5.6% | ||||||
| 9:00am | EUR | Belgium NBB Business Climate | -14.3 | -15.0 | |||||
| 9:30am | USD | Treasury Sec Lew Speaks | |||||||
| 10:30am | USD | Crude Oil Inventories | 1.8M | -1.2M |
