Futures Trading Levels and Economic Reports for October 23, 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 October 23, 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 October 23, 2013

Hello Traders,

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

I had 3376 as potential target for the mini NASDAQ for the last week or so. To be honest, I DID NOT think it would make it there but it did…question is now what?

If you are a counter trend trader, you can go short against this level risking a few points above it. If you are more on the conservative side, you probably want to wait for a trigger that the market is running out of steam before trying the short side….That trigger may be a cross over of stochastic on the hourly chart, perhaps a break below today’s lows….really depends on the style of trade you feel comfortable with and the time frame you are trading. The chart below is more for what I call swing trading rather than day trading.

There are many different ways to lose money trading futures and very few to make $$$. Some methods will work on some markets, some of the time. I have not found a way that works on all markets all the time….

Daily chart for your review below:

ENQ - E Mini NASDAQ 100, Equalized Active Daily Continuation

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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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Futures Trading Levels

Contract Dec. 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1775.83 3418.08 15628 1132.70 80.33
Resistance 2 1765.17 3397.67 15543 1126.60 80.09
Resistance 1 1757.33 3378.83 15473 1119.80 79.70
Pivot 1746.67 3358.42 15388 1113.70 79.47
Support 1 1738.83 3339.58 15318 1106.90 79.08
Support 2 1728.17 3319.17 15233 1100.80 78.84
Support 3 1720.33 3300.33 15163 1094.00 78.45
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds  Dec. Euro
Resistance 3 1388.8 2387.3 101.83 136 28/32 1.3960
Resistance 2 1366.7 2335.2 101.06 136 1.3877
Resistance 1 1353.6 2302.8 99.68 135 15/32 1.3829
Pivot 1331.5 2250.7 98.91 134 19/32 1.3746
Support 1 1318.4 2218.3 97.53 134  2/32 1.3698
Support 2 1296.3 2166.2 96.76 133  6/32 1.3615
Support 3 1283.2 2133.8 95.38 132 21/32 1.3567
Contract Dec Corn Dec. Wheat Nov.Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 447.8 704.5 1317.83 425.10 41.97
Resistance 2 445.4 703.8 1311.42 421.30 41.86
Resistance 1 441.8 702.3 1306.83 418.70 41.69
Pivot 439.4 701.5 1300.42 414.90 41.58
Support 1 435.8 700.0 1295.8 412.3 41.4
Support 2 433.4 699.3 1289.42 408.50 41.30
Support 3 429.8 697.8 1284.83 405.90 41.13
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)


Date 4:01pm Currency Impact Detail Actual Forecast Previous Graph
WedOct 23  Tentative EUR German 30-y Bond Auction 2.47|1.6
8:30am USD Import Prices m/m 0.3% 0.0%
9:00am EUR Belgian NBB Business Climate -4.1 -6.7
USD HPI m/m 0.8% 1.0%
10:00am EUR Consumer Confidence -14 -15
10:30am USD Crude Oil Inventories 2.7M 4.0M

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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