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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.

Futures Trading Levels and Economic Reports for August 6, 2013

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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 Tuesday August 6, 2013

Hello Traders,

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

Extremely low volume on stock index futures. Some of this may have to do with the summer vacations, perhaps some has to do with the fact that we are trading at new highs? To be honest I am not sure and will do some research to find out what kind of volume the actual stocks/ NYSE are having.

Overall, market making new highs on low volume does not give me much confidence in the long side. In between the intra day ranges are tight and volatility is low. I know that many of you are mini SP 500 traders, ES. However, keep your mind open to other markets as well like mini Russell (usually has more volatility than the ES), crude oil and gold futures as well as currency futures and 30 year bonds.

Each market has different personality, different behavior along with different times of the day when it is most active. If you are finding that the ES is not giving you enough risk/opportunities then start monitoring a couple of other markets and perhaps explore them in demo / simulated mode.

I will be happy to share feedback and answer questions via email or phone.

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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.


Futures Trading Levels

Contract Sept. 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1711.83 3154.42 15665 1071.00 82.46
Resistance 2 1708.42 3147.33 15631 1066.50 82.31
Resistance 1 1705.58 3142.17 15592 1063.70 82.11
Pivot 1702.17 3135.08 15558 1059.20 81.96
Support 1 1699.33 3129.92 15519 1056.40 81.76
Support 2 1695.92 3122.83 15485 1051.90 81.61
Support 3 1693.08 3117.67 15446 1049.10 81.41
Contract Dec. Gold Sept. Silver Sept. Crude Oil Sept. Bonds  Sept. Euro
Resistance 3 1339.0 2040.3 109.54 134 26/32 1.3367
Resistance 2 1329.7 2019.7 108.61 134 11/32 1.3335
Resistance 1 1315.4 1993.3 107.55 133 24/32 1.3298
Pivot 1306.1 1972.7 106.62 133  9/32 1.3266
Support 1 1291.8 1946.3 105.56 132 22/32 1.3229
Support 2 1282.5 1925.7 104.63 132  7/32 1.3197
Support 3 1268.2 1899.3 103.57 131 20/32 1.3160
Contract Dec Corn Sept. Wheat Nov.Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 473.2 665.2 1203.50 362.47 43.85
Resistance 2 468.8 661.1 1195.75 359.13 43.55
Resistance 1 464.7 653.2 1189.50 355.37 43.38
Pivot 460.3 649.1 1181.75 352.03 43.08
Support 1 456.2 641.2 1175.5 348.3 42.9
Support 2 451.8 637.1 1167.75 344.93 42.61
Support 3 447.7 629.2 1161.50 341.17 42.44
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)


Date 3:12pm Currency Impact Detail Actual Forecast Previous Graph
TueAug 6  4:00am EUR Italian Industrial Production m/m 0.5% 0.1%
5:00am EUR Italian Prelim GDP q/q -0.4% -0.6%
6:00am EUR German Factory Orders m/m 1.1% -1.3%
8:30am USD Trade Balance -43.1B -45.0B
10:00am USD JOLTS Job Openings 3.91M 3.83M
USD IBD/TIPP Economic Optimism 47.9 47.1
1:00pm USD FOMC Member Evans Speaks


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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