Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 October 2, 2013
For 2013 I would like to wish all of you discipline and patience in your trading!
Erratic moves across the board today. Personally was a tough trading day, getting stopped out on lows/ highs of different moves and not being able to get in synch with the markets.
The main advice I can provide during times when certain news affect the market like now is that no trade is better than a bad trade and being extra picky on entry points and trade selection is even more important in times like these.
Wishing all of you an excellent trading month in October!
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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.
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|Contract Dec. 2013||SP500 (big & Mini)||Nasdaq100 (big & Mini)||Dow Jones (big & Mini)||Mini Russell||Dollar Index|
|Contract||Dec. Gold||Dec. Silver||Nov. Crude Oil||Dec. Bonds||Dec. Euro|
|Resistance 3||1379.4||2323.3||104.09||134 7/32||1.3650|
|Resistance 2||1358.6||2260.2||103.34||133 27/32||1.3621|
|Resistance 1||1324.0||2189.3||102.57||133 15/32||1.3578|
|Support 1||1268.6||2055.3||101.05||132 23/32||1.3506|
|Support 2||1247.8||1992.2||100.30||132 11/32||1.3477|
|Support 3||1213.2||1921.3||99.53||131 31/32||1.3434|
|Contract||Dec Corn||Dec. Wheat||Nov.Beans||Dec. SoyMeal||Dec. bean Oil|
|WedOct 2||3:00am||EUR||Spanish Unemployment Change||12.3K||0.0K|
|Tentative||EUR||German 10-y Bond Auction||2.06|1.3|
|7:45am||EUR||Minimum Bid Rate||0.50%||0.50%|
|8:15am||USD||ADP Non-Farm Employment Change||177K||176K|
|8:30am||EUR||ECB Press Conference|
|10:30am||USD||Crude Oil Inventories||2.4M||2.6M|
|12:00pm||USD||FOMC Member Rosengren Speaks|
|3:30pm||USD||Fed Chairman Bernanke 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.