Futures Trading Levels and Economic Reports for September 17, 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 Tuesday September 17, 2013

Hello Traders,

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

Big moves took place last night when the markets reopened in reaction to news about Syria, but by the time the markets closed today, most of the markets went back to levels from Friday session, so we are still waiting to see the actual direction for many different markets. I am sure we will see some whipsaw both ways over the next few days.

 

In the field of day-trading, my tip for today is:

 

Try to limit the amount of time you are trying to day-trade as well as try to choose the RIGHT period of time during the day to day-trade.

 

I think the more hours one spends in front of the charts trading, the higher chances one has to be prone for mistakes, frustration and more.

 

The other part is to choose the right period of time in the day for the markets you trade. Different markets have different period of times during the day when they are more active, perhaps more volatile etc.

 

This also has to coincide with your schedule and other constraints.

 

 

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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 Dec. 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1716.58 3255.75 15646 1077.73 81.89
Resistance 2 1710.17 3234.50 15578 1071.97 81.67
Resistance 1 1700.83 3198.75 15505 1061.83 81.56
Pivot 1694.42 3177.50 15437 1056.07 81.35
Support 1 1685.08 3141.75 15364 1045.93 81.24
Support 2 1678.67 3120.50 15296 1040.17 81.02
Support 3 1669.33 3084.75 15223 1030.03 80.91
Contract Dec. Gold Dec. Silver Oct. Crude Oil Dec. Bonds  Dec. Euro
Resistance 3 1357.1 2310.3 109.41 132 15/32 1.3433
Resistance 2 1346.5 2279.7 108.71 131 29/32 1.3412
Resistance 1 1328.3 2229.8 107.47 130 27/32 1.3376
Pivot 1317.7 2199.2 106.77 130  9/32 1.3355
Support 1 1299.5 2149.3 105.53 129  7/32 1.3319
Support 2 1288.9 2118.7 104.83 128 21/32 1.3298
Support 3 1270.7 2068.8 103.59 127 19/32 1.3262
Contract Dec Corn Dec. Wheat Nov.Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 467.5 649.5 1383.83 455.17 43.02
Resistance 2 464.5 647.8 1375.42 448.63 42.84
Resistance 1 460.5 644.5 1361.83 438.57 42.60
Pivot 457.5 642.8 1353.42 432.03 42.42
Support 1 453.5 639.5 1339.8 422.0 42.2
Support 2 450.5 637.8 1331.42 415.43 42.00
Support 3 446.5 634.5 1317.83 405.37 41.76
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 4:29pm Currency Impact Detail Actual Forecast Previous Graph
TueSep 17  4:00am EUR Current Account 18.3B 16.9B
5:00am EUR German ZEW Economic Sentiment 45.3 42.0
EUR ZEW Economic Sentiment 47.2 44.0
EUR Trade Balance 15.3B 14.9B
8:15am USD Treasury Sec Lew Speaks
8:30am USD Core CPI m/m 0.1% 0.2%
USD CPI m/m 0.2% 0.2%
9:00am USD TIC Long-Term Purchases -45.3B -66.9B
10:00am USD NAHB Housing Market Index 59 59

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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