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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.

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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 Tuesday October 22, 2013

Hello Traders,

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

Make sure you are aware of the revised economic reports schedule, example: tomorrow we will have monthly unemployment figures for Sept. since this report was not released when it was suppose to because of the shut down. As far price forecast, tough to tell. Market been going up more than a few days in a row and is due for pullback, the questions is: when and how much higher can it go before pulls back…..

Revised release schedule for US economic data delayed by govt shutdown

Fri, 18 Oct 2013 12:57 PM ESTMonday 10/21:
EIA Weekly Petroleum Inventories (postponed from prev week)Tuesday 10/22:
Employment Report
 – Change in Non-Farm Payrolls/Two-Month Payroll Net Revision/Unemployment Rate; Change in Household Employment/Average Hourly Earnings; Average Weekly Hours/Underemployment Rate/Labor Force Participation Rate (Sept)
EIA Weekly Natural Gas Inventories (postponed from prev week)Wednesday 10/23:
U.S. Import and Export Price Indexes (Sept)
EIA Weekly Petroleum InventoriesThursday 10/24:
Job Openings & Labor Turnover Survey (Aug)
EIA Weekly Natural Gas Inventories

Tuesday 10/29:
PPI; PPI Ex-Food/Energy (Sept)

Wednesday 10/30:
CPI; CPI Ex-Food and Energy; CPI Core Index (Sept)
Real Earnings (Oct)

Friday 11/8:
Employment Report (Oct)
WASDE

Tuesday 11/19:
Employment Cost Index (Q3)

**Thus far it appears all data will be released at their normal posting time.

Not Yet Scheduled:
Construction Spending/Housing Starts (Aug) – expected week of 10/25
Factory Orders (Aug)
International Trade (Aug)
Wholesale Trade (Aug)
Advance Monthly Retail Sales (Sept)
Business Inventories (Sept)
Usual Weekly Earnings of Wage and Salary Workers (Q3)
Productivity and Costs (Prelim) (Q3)
Job Openings and Labor Turnover Survey (Sept)
U.S. Import and Export Price Indexes (Oct)
Producer Price Index (Oct)
Consumer Price Index (Oct)
Producer Price Index (Nov)

**The US Commerce Dept has not updated their website and have not responded to numerous requests for any information regarding their backlog of data releases.

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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.

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Futures Trading Levels

Contract Dec. 2013 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1749.83 3382.75 15431 1122.93 80.05
Resistance 2 1746.17 3372.50 15399 1119.57 79.96
Resistance 1 1742.08 3363.00 15361 1114.63 79.85
Pivot 1738.42 3352.75 15329 1111.27 79.77
Support 1 1734.33 3343.25 15291 1106.33 79.66
Support 2 1730.67 3333.00 15259 1102.97 79.57
Support 3 1726.58 3323.50 15221 1098.03 79.46
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1334.2 2289.8 102.61 134 27/32 1.3735
Resistance 2 1329.0 2261.7 101.92 134 18/32 1.3713
Resistance 1 1322.3 2241.8 100.79 134 5/32 1.3697
Pivot 1317.1 2213.7 100.10 133 28/32 1.3675
Support 1 1310.4 2193.8 98.97 133 15/32 1.3659
Support 2 1305.2 2165.7 98.28 133 6/32 1.3637
Support 3 1298.5 2145.8 97.15 132 25/32 1.3621
Contract Dec Corn Dec. Wheat Nov.Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 452.2 705.3 1319.50 428.03 42.12
Resistance 2 448.3 703.4 1311.75 422.17 42.02
Resistance 1 446.2 701.6 1307.50 418.93 41.83
Pivot 442.3 699.7 1299.75 413.07 41.73
Support 1 440.2 697.8 1295.5 409.8 41.5
Support 2 436.3 695.9 1287.75 403.97 41.44
Support 3 434.2 694.1 1283.50 400.73 41.25
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 4:17pm Currency Impact Detail Actual Forecast Previous Graph
TueOct 22  8:30am USD Non-Farm Employment Change 182K 169K
USD Unemployment Rate 7.3% 7.3%
USD Average Hourly Earnings m/m 0.2% 0.2%
9:00am USD TIC Long-Term Purchases 30.9B 31.1B
10:00am USD Construction Spending m/m 0.5% 0.6%
USD Richmond Manufacturing Index 0 0
10:30am USD Natural Gas Storage 81B 90B

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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