Futures Trading Levels and Economic Reports for May 8, 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 May 8, 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 May 8, 2013

Hello Traders,

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


Survivor Day
By Ilan Levy-Mayer
I started as a commodity broker back in 1998, when com
missions of $25 per round turn for the E-minis were
considered a deep discount. I had the luxury of observing many
types of day traders and saw things from the sidelines that
most traders could not see during the heat of battle, one of
which is the importance of solid money management for the
long-term survival of day trade.
Day trading is by definition a trade that is initiated and
completed during the same trading day. In this wide category,
you will find many types of traders. On one end of the
spectrum are scalpers, who go for one or two ticks of profit several
times a day in trades lasting just seconds. On the other side
are speculators who stay in a position from the start of the day
until the close. One of the main appeals of day trading for all
types is that the trader goes home flat without having to worry
about positions. When the market closes, the day is done.
Money management, as the name implies, is applying
prudent principles to help conserve your trade (risk) capital.

Without risk capital to trade, a speculator does not have a chance…



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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 1637.92 2976.92 15156 979.73 82.79
Resistance 2 1629.83 2966.83 15077 972.77 82.61
Resistance 1 1625.42 2957.42 15035 969.13 82.48
Pivot 1617.33 2947.33 14956 962.17 82.30
Support 1 1612.92 2937.92 14914 958.53 82.18
Support 2 1604.83 2927.83 14835 951.57 82.00
Support 3 1600.42 2918.42 14793 947.93 81.87
Contract June Gold July Silver June Crude Oil June Bonds  June Euro
Resistance 3 1496.7 2480.7 97.52 147 18/32 1.3184
Resistance 2 1483.4 2442.3 96.89 147  8/32 1.3160
Resistance 1 1467.1 2416.7 96.18 146 25/32 1.3120
Pivot 1453.8 2378.3 95.55 146 15/32 1.3096
Support 1 1437.5 2352.7 94.84 146 1.3056
Support 2 1424.2 2314.3 94.21 145 22/32 1.3032
Support 3 1407.9 2288.7 93.50 145  7/32 1.2992
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 656.3 713.7 1402.00 411.10 49.89
Resistance 2 650.7 711.3 1392.75 408.50 49.55
Resistance 1 645.3 710.2 1387.50 405.90 49.34
Pivot 639.7 707.8 1378.25 403.30 49.00
Support 1 634.3 706.7 1373.0 400.7 48.8
Support 2 628.7 704.3 1363.75 398.10 48.45
Support 3 623.3 703.2 1358.50 395.50 48.24
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:07pm Currency Impact Detail Actual Forecast Previous Graph
WedMay 8 All Day EUR French Bank Holiday
 6:00am EUR German Industrial Production m/m -0.1% 0.5%
8:30am USD FOMC Member Stein Speaks
10:30am USD Crude Oil Inventories 2.1M 6.7M
1:00pm USD 10-y Bond Auction 1.80|2.8

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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