Futures Trading Levels and Economic Reports for June 12, 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 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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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 | 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 |
source:http://www.forexfactory.com/calendar.php
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
