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 August 13, 2013
For 2013 I would like to wish all of you discipline and patience in your trading!
Another slow, summer trading day to start the week in the stock index futures segment. Be careful of this type of trading days. The low volume and narrow ranges can get you too comfortable to trading sloppy….
Sometimes no trade is better than a bad trade. Actually all the time…
In between gold futures had a nice up move over the last few sessions. Daily chart of Dec. Gold futures for your review below.
Notice that prices closed ABOVE the IMOKU cloud, which is usually a bullish sign. Market needs to confirm this bullish sign by closing above 1349.5.
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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 Sept. 2013||SP500 (big & Mini)||Nasdaq100 (big & Mini)||Dow Jones (big & Mini)||Mini Russell||Dollar Index|
|Contract||Dec. Gold||Sept. Silver||Sept. Crude Oil||Sept. Bonds||Sept. Euro|
|Resistance 3||1378.6||2247.5||108.21||135 26/32||1.3409|
|Resistance 2||1361.2||2196.0||107.33||135 14/32||1.3378|
|Resistance 1||1348.4||2165.0||106.78||134 24/32||1.3342|
|Support 1||1318.2||2082.5||105.35||133 22/32||1.3275|
|Support 2||1300.8||2031.0||104.47||133 10/32||1.3244|
|Support 3||1288.0||2000.0||103.92||132 20/32||1.3208|
|Contract||Dec Corn||Sept. Wheat||Nov.Beans||Dec. SoyMeal||Dec. bean Oil|
|TueAug 13||2:00am||EUR||German Final CPI m/m||0.5%||0.5%|
|EUR||German WPI m/m||0.2%||-0.4%|
|5:00am||EUR||German ZEW Economic Sentiment||40.3||36.3|
|EUR||Industrial Production m/m||1.1%||-0.3%|
|EUR||ZEW Economic Sentiment||37.4||32.8|
|7:30am||USD||NFIB Small Business Index||95.4||93.5|
|8:30am||USD||Core Retail Sales m/m||0.4%||0.0%|
|USD||Retail Sales m/m||0.2%||0.4%|
|USD||Import Prices m/m||0.9%||-0.2%|
|10:00am||USD||Business Inventories m/m||0.3%||0.1%|
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