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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 November 13, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
Gold and Silver took a hit today, selling off 1% and 2.5% respectively.
Gold and silver are much different markets in my opinion than mini SP or us tbonds for example. Gold, silver and crude oil for that matter are quite volatile with fear and greed playing a bigger role than in other markets. I have seen these markets make some very large moves intraday at times.
I do think that both gold and crude oil are GOOD markets to observe as potential for day-trading as long as you use stops…if you are a trader that “uses mental stops” , these markets are not for you…Good news is that both crude and gold have a mini contract .
Gold chart for your review below with some possible levels to watch for:
GOOD TRADING
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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 | 1781.08 | 3394.75 | 15847 | 1111.50 | 81.94 |
| Resistance 2 | 1775.42 | 3380.75 | 15799 | 1106.00 | 81.74 |
| Resistance 1 | 1769.83 | 3371.75 | 15752 | 1102.90 | 81.48 |
| Pivot | 1764.17 | 3357.75 | 15704 | 1097.40 | 81.28 |
| Support 1 | 1758.58 | 3348.75 | 15657 | 1094.30 | 81.01 |
| Support 2 | 1752.92 | 3334.75 | 15609 | 1088.80 | 80.81 |
| Support 3 | 1747.33 | 3325.75 | 15562 | 1085.70 | 80.55 |
| Contract | Dec. Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1306.9 | 2200.2 | 96.99 | 132 8/32 | 1.3574 |
| Resistance 2 | 1296.2 | 2167.8 | 96.10 | 131 30/32 | 1.3515 |
| Resistance 1 | 1282.0 | 2120.7 | 94.63 | 131 23/32 | 1.3476 |
| Pivot | 1271.3 | 2088.3 | 93.74 | 131 13/32 | 1.3417 |
| Support 1 | 1257.1 | 2041.2 | 92.27 | 131 6/32 | 1.3378 |
| Support 2 | 1246.4 | 2008.8 | 91.38 | 130 28/32 | 1.3319 |
| Support 3 | 1232.2 | 1961.7 | 89.91 | 130 21/32 | 1.3280 |
| Contract | Dec Corn | Dec. Wheat | Jan .Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 441.0 | 647.3 | 1337.33 | 439.03 | 41.55 |
| Resistance 2 | 438.8 | 646.8 | 1328.17 | 434.17 | 41.39 |
| Resistance 1 | 435.5 | 646.0 | 1321.33 | 430.93 | 41.07 |
| Pivot | 433.3 | 645.5 | 1312.17 | 426.07 | 40.91 |
| Support 1 | 430.0 | 644.8 | 1305.3 | 422.8 | 40.6 |
| Support 2 | 427.8 | 644.3 | 1296.17 | 417.97 | 40.43 |
| Support 3 | 424.5 | 643.5 | 1289.33 | 414.73 | 40.11 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:19pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedNov 13 | 5:00am | EUR | Industrial Production m/m | -0.2% | 1.0% | ||||
| 7:10am | EUR | German Buba President Weidmann Speaks | |||||||
| 1:01pm | USD | 10-y Bond Auction | 2.66|2.6 | ||||||
| 2:00pm | USD | Federal Budget Balance | -104.3B | 75.1B | |||||
| 7:00pm | USD | Fed Chairman Bernanke Speaks |
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.