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 Wednesday December 11, 2013
For 2013 I would like to wish all of you discipline and patience in your trading!
A quick note about trading systems.
I know most of you are what i consider self directed traders. You like to make your own decisions of when to buy/ sell/ markets etc.
Some of you may have tried different automated trading systems in the past and some may be currently trading some systems. i think that if one has the risk capital and does the due diligence, there are some good systems out there which can be used as diversification to your own trading and/ or as a form of more aggressive investment.
I do want to bring to your attention two trading systems I personally really like and have been impressed with the results.
One is a medium term system/model that works with seasonal spreads. We have clients in this office who been trading these spreads for years and will be more than happy to share additional details for those of you who are interested.
The second is a day trading system that finishes each day flat. It does not trade often, avg of about 2 trades a day. it picks trades from about 20 different futures markets and is offered as auto trade here at cannon trading. Again, I am quite impressed with the results so far and will be happy to share more with interested clients prospects.
Please email me with any questions/ interest on the topic above and I will be happy to assist!
I was informed that our blog is being nominated for the STAR award by traderplanet.com which is very nice to hear and know that the work and amount of time we put into it is not going unnoticed!
I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:
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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||Feb. Gold||Mar. Silver||Jan. Crude Oil||Mar. Bonds||Dec. Euro|
|Resistance 3||1303.8||2132.3||100.57||130 31/32||1.3859|
|Resistance 2||1285.6||2087.7||99.66||130 21/32||1.3827|
|Resistance 1||1273.7||2063.3||99.07||130 14/32||1.3798|
|Support 1||1243.6||1994.3||97.57||129 29/32||1.3737|
|Support 2||1225.4||1949.7||96.66||129 19/32||1.3705|
|Support 3||1213.5||1925.3||96.07||129 12/32||1.3676|
|Contract||Dec Corn||March Wheat||Jan .Beans||Jan. SoyMeal||Jan. bean Oil|
|WedDec 11||1:30am||EUR||French Final Non-Farm Payrolls q/q||-0.1%||-0.1%|
|2:00am||EUR||German Final CPI m/m||0.2%||0.2%|
|10:00am||USD||Treasury Sec Lew Speaks|
|10:30am||USD||Crude Oil Inventories||-2.2M||-5.6M|
|1:01pm||USD||10-y Bond Auction||2.75|2.7|
|2:00pm||USD||Federal Budget Balance||-142.6B||-91.6B|
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/