Futures Trading Levels & Economic Reports for 11.12.2013
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 November 12, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
Extremely quiet day in the markets with US banks closed in observance of Veteran’s day.
I expect volume and volatility to return tomorrow. I guess it is always easier to look back and have hindsight in your favor …. but traders coming into today should have noted a few things:
- Bank Holiday
- Lighter volume
- Inability of the market to break overnight highs/lows
The conclusions could have been:
- Trade lightly or avoid trading
- Understanding there is a high chance for range bound market ( sell close to previous session highs, buy close to previous session lows)
- and/or look at other markets, perhaps crude oil, perhaps soybeans etc.
Again, much easier for me to say so right now when the market about to close but maybe the thought process will help you the next time.
PS: Here is another advantage of writing a trading journal. Next time we have a bank holiday, your notes may come in handy.
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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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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| Contract Dec. 2013 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1778.58 | 3385.67 | 15818 | 1113.03 | 81.62 |
| Resistance 2 | 1774.42 | 3375.58 | 15781 | 1107.27 | 81.52 |
| Resistance 1 | 1771.08 | 3365.67 | 15752 | 1103.33 | 81.33 |
| Pivot | 1766.92 | 3355.58 | 15715 | 1097.57 | 81.23 |
| Support 1 | 1763.58 | 3345.67 | 15686 | 1093.63 | 81.04 |
| Support 2 | 1759.42 | 3335.58 | 15649 | 1087.87 | 80.94 |
| Support 3 | 1756.08 | 3325.67 | 15620 | 1083.93 | 80.75 |
| Contract | Dec. Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1299.2 | 2168.7 | 96.87 | 132 3/32 | 1.3511 |
| Resistance 2 | 1294.0 | 2156.8 | 96.13 | 131 29/32 | 1.3465 |
| Resistance 1 | 1288.5 | 2146.7 | 95.60 | 131 21/32 | 1.3439 |
| Pivot | 1283.3 | 2134.8 | 94.86 | 131 15/32 | 1.3393 |
| Support 1 | 1277.8 | 2124.7 | 94.33 | 131 7/32 | 1.3367 |
| Support 2 | 1272.6 | 2112.8 | 93.59 | 131 1/32 | 1.3321 |
| Support 3 | 1267.1 | 2102.7 | 93.06 | 130 25/32 | 1.3295 |
| Contract | Dec Corn | Dec. Wheat | Jan .Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 445.2 | 661.7 | 1322.17 | 431.50 | 40.91 |
| Resistance 2 | 441.1 | 658.6 | 1313.33 | 427.70 | 40.73 |
| Resistance 1 | 437.9 | 652.4 | 1307.17 | 424.90 | 40.57 |
| Pivot | 433.8 | 649.3 | 1298.33 | 421.10 | 40.39 |
| Support 1 | 430.7 | 643.2 | 1292.2 | 418.3 | 40.2 |
| Support 2 | 426.6 | 640.1 | 1283.33 | 414.50 | 40.05 |
| Support 3 | 423.4 | 633.9 | 1277.17 | 411.70 | 39.89 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:14pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueNov 12 | 2:00am | EUR | German Final CPI m/m | -0.2% | -0.2% | ||||
| EUR | German WPI m/m | 0.3% | 0.7% | ||||||
| 7:30am | USD | NFIB Small Business Index | 93.5 | 93.9 |
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.
