Futures Trading Levels and Economic Reports for September 12, 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 September 12, 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 Thursday September 12, 2013

Hello Traders,

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

I was asked today ( and many times before…) what I think are the top two reasons so many traders lose money day-trading?
My answer was ” if I had to pick the top 2 reasons, it would be: 1. Inability to accept losses 2. Over leveraging the already leveraged futures contracts”

Each one of these topics deserves quite a bit of ink but until I expand on each and other factors I believe are contributors, I recommend reading the following:

 

https://www.cannontrading.com/tools/education-8-steps

 

 

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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.

 

Futures Trading Levels

Contract Sept. 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1702.67 3221.08 15530 1065.57 82.29
Resistance 2 1695.58 3204.92 15425 1061.73 82.12
Resistance 1 1691.92 3192.33 15372 1058.67 81.81
Pivot 1684.83 3176.17 15267 1054.83 81.63
Support 1 1681.17 3163.58 15214 1051.77 81.32
Support 2 1674.08 3147.42 15109 1047.93 81.15
Support 3 1670.42 3134.83 15056 1044.87 80.84
Contract Dec. Gold Dec. Silver Oct. Crude Oil Dec. Bonds  Sept. Euro
Resistance 3 1382.4 2380.7 109.92 130 25/32 1.3424
Resistance 2 1375.5 2352.8 109.01 130  6/32 1.3375
Resistance 1 1369.7 2334.2 108.36 129 26/32 1.3344
Pivot 1362.8 2306.3 107.45 129  7/32 1.3295
Support 1 1357.0 2287.7 106.80 128 27/32 1.3264
Support 2 1350.1 2259.8 105.89 128  8/32 1.3215
Support 3 1344.3 2241.2 105.24 127 28/32 1.3184
Contract Dec Corn Dec. Wheat Nov.Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 481.1 651.0 1366.50 435.90 43.63
Resistance 2 477.2 650.0 1362.75 432.20 43.48
Resistance 1 474.8 649.0 1360.50 430.10 43.22
Pivot 470.9 648.0 1356.75 426.40 43.07
Support 1 468.6 647.0 1354.5 424.3 42.8
Support 2 464.7 646.0 1350.75 420.60 42.66
Support 3 462.3 645.0 1348.50 418.50 42.40
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 4:08pm Currency Impact Detail Actual Forecast Previous Graph
ThuSep 12  2:00am EUR German WPI m/m 0.2% -0.3%
2:45am EUR French CPI m/m 0.5% -0.3%
4:00am EUR ECB Monthly Bulletin
EUR Italian Industrial Production m/m 0.3% 0.3%
5:00am EUR Industrial Production m/m -0.1% 0.7%
7:40am EUR ECB President Draghi Speaks
8:30am USD Unemployment Claims 332K 323K
USD Import Prices m/m 0.6% 0.2%
9:00am USD FOMC Member Dudley Speaks
10:30am USD Natural Gas Storage 65B 58B
1:00pm USD 30-y Bond Auction 3.65|2.1
2:00pm USD Federal Budget Balance -155.3B -97.6B

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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