Futures Trading Levels and Economic Reports for July 18, 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 Thursday July 18, 2013

Hello Traders,

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

I got a sell signal on the daily mini SP chart ( see below the red diamond) . To be honest it does not mean much UNLESS price can break 1665.00. At that point I think we have better chances for a more meaningful pullback.

There are times when I like to enter trades using a stop order. i do this when I feel that I need to see certain levels brake and that if these specific levels break, I think the market has better chances of picking up speed and momentum in the same direction. This is a good way to avoid picking tops and bottoms prematurely, like in todays example. I.E if market continues higher and does not break 1665 I will not get in a short position and stay out of the market. If it does, I may have given up a few points but for me personally, I will have more confidence in the trade.

EP – E Mini S&P 500, Equalized Active Daily Continuation

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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.

Futures Trading Levels

Contract Sept. 2013	SP500 (big & Mini)	Nasdaq100 (big & Mini)	Dow Jones (big & Mini)	Mini Russell	Dollar Index
Resistance 3	1691.17	3092.83	15538	1057.37	84.11
Resistance 2	1685.33	3084.67	15491	1050.03	83.87
Resistance 1	1681.42	3079.08	15455	1045.97	83.53
Pivot	1675.58	3070.92	15408	1038.63	83.28
Support 1	1671.67	3065.33	15372	1034.57	82.94
Support 2	1665.83	3057.17	15325	1027.23	82.70
Support 3	1661.92	3051.58	15289	1023.17	82.36

Contract	August Gold	Sept. Silver	August Crude Oil	Sept. Bonds	Sept. Euro
Resistance 3	1315.3	2079.8	109.12	136 21/32	1.3188
Resistance 2	1304.4	2046.7	107.87	135 24/32	1.3136
Resistance 1	1294.2	2020.3	107.14	135 8/32	1.3101
Pivot	1283.3	1987.2	105.89	134 11/32	1.3049
Support 1	1273.1	1960.8	105.16	133 27/32	1.3014
Support 2	1262.2	1927.7	103.91	132 30/32	1.2962
Support 3	1252.0	1901.3	103.18	132 14/32	1.2927

Contract	Dec Corn	Sept. Wheat	Nov.Beans	Dec. SoyMeal	Dec. bean Oil
Resistance 3	508.0	671.0	1279.17	386.17	46.00
Resistance 2	506.5	670.5	1271.58	381.83	45.83
Resistance 1	505.0	670.0	1267.67	379.37	45.55
Pivot	503.5	669.5	1260.08	375.03	45.38
Support 1	502.0	669.0	1256.2	372.6	45.1
Support 2	500.5	668.5	1248.58	368.23	44.93
Support 3	499.0	668.0	1244.67	365.77	44.65

For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date	4:23pm	Currency		Forecast	Previous

ThuJul 18	4:00am	EUR	Current Account	21.3B	19.5B
	Tentative	EUR	Spanish 10-y Bond Auction		4.77\|1.8
	8:30am	USD	Unemployment Claims	344K	360K
	10:00am	USD	Fed Chairman Bernanke Testifies
		USD	Philly Fed Manufacturing Index	8.5	12.5
		USD	CB Leading Index m/m	0.3%	0.1%
	10:30am	USD	Natural Gas Storage	63B	82B

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

Support & Resistance Levels

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Futures Trading Levels and Economic Reports for July 18, 2013

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

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