Futures Trading Levels and Economic Reports for June 12, 2013

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 June 12, 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 Wednesday June 12, 2013

Hello Traders,

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


Yesterday I wrote:


“While my heart says stock index futures should go down…my mind is looking at the chart and says: if we break above 1649 we may see a mini rally….”

So other than the fact that my heart / gut feeling was better than my mind as of today….The other point this brings me to, is what I like to call price confirmation.


Many times I will get a signal or indicator that i feel comfortable with BUT just because a an indicator suggests  buy or sell does not mean it is a crystal ball…This is when I like to see that price action actually confirms the signal I got by breaking above or below certain levels, hence what I call price confirmation.


Many times, I will actually look to enter certain type of trades using a stop order based on this concept.


If you have more questions about this topic, reply to this email and I will do my best top share more about this personal technical trading preference.



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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 June 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1660.83 3025.17 15407 1010.80 82.26
Resistance 2 1651.67 3007.08 15327 1001.30 82.00
Resistance 1 1639.83 2985.67 15234 991.60 81.53
Pivot 1630.67 2967.58 15154 982.10 81.28
Support 1 1618.83 2946.17 15061 972.40 80.81
Support 2 1609.67 2928.08 14981 962.90 80.55
Support 3 1597.83 2906.67 14888 953.20 80.08
Contract August Gold July Silver July Crude Oil Sept. Bonds  June Euro
Resistance 3 1411.4 2246.3 97.97 142  6/32 1.3432
Resistance 2 1399.3 2221.2 96.94 140 30/32 1.3375
Resistance 1 1388.7 2190.3 96.10 140  8/32 1.3346
Pivot 1376.6 2165.2 95.07 139 1.3289
Support 1 1366.0 2134.3 94.23 138 10/32 1.3260
Support 2 1353.9 2109.2 93.20 137  2/32 1.3203
Support 3 1343.3 2078.3 92.36 136 12/32 1.3174
Contract July Corn July Wheat Nov.Beans July SoyMeal July bean Oil
Resistance 3 675.2 700.8 1343.33 486.57 48.56
Resistance 2 667.8 698.8 1335.67 476.33 48.43
Resistance 1 663.7 697.8 1331.33 469.87 48.24
Pivot 656.3 695.8 1323.67 459.63 48.11
Support 1 652.2 694.8 1319.3 453.2 47.9
Support 2 644.8 692.8 1311.67 442.93 47.79
Support 3 640.7 691.8 1307.33 436.47 47.60
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:03pm Currency Impact Detail Actual Forecast Previous Graph
WedJun 12  1:30am EUR French Final Non-Farm Payrolls q/q -0.1% -0.1%
2:00am EUR German Final CPI m/m 0.4% 0.4%
2:45am EUR French CPI m/m 0.3% -0.1%
Day 2 EUR German Constitutional Court Ruling
5:00am EUR Industrial Production m/m -0.2% 1.0%
10:30am USD Crude Oil Inventories -1.5M -6.3M
1:00pm USD 10-y Bond Auction 1.81|2.7
2:00pm USD Federal Budget Balance -110.2B 112.9B

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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