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 Tuesday October 22, 2013
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
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
PPI; PPI Ex-Food/Energy (Sept)
CPI; CPI Ex-Food and Energy; CPI Core Index (Sept)
Real Earnings (Oct)
Employment Report (Oct)
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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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||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|
|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|
|TueOct 22||8:30am||USD||Non-Farm Employment Change||182K||169K|
|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..