Good vs Bad Trading Futures 11-12-2015

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.

Good vs Bad Trading Futures 11-12-2015

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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 November 12, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

The Good Voice versus The Bad Voice

How many times has this happened to you?
You have a client who knows how to make money. It’s apparent in the daily statements; they have a good winning percentage, consistent profits, etc. Everything’s moving along nicely until in seeps the Bad Voice.
The Bad Voice can motivate people to go down a slippery slope. Like a client -who is normally a day trader- decides to carry his/her losing position and make it into a swing trade. Or you are down and refuse to accept the fact it may be a losing day; so you double down and become aggressive with the intention, “if this trade is a winner, I’ll have another winning day.”
The Bad Voice: It’s in all of us all the time. It’s like when you are unbuckling your belt at a Las Vegas buffet but still decide to go back for another round of cake; or you decide to run the yellow light even though you’re running early to your next appointment. But when it comes to trading, there’s bigger risks involved than a traffic ticket or a tear in your pants. These bad choices can have a snow ball effect and turn a mediocre day into a bad day or a bad day into needing a stiff drink.
This comes from the inability to accept loss. I have had this happen to me numerous times as a trader. Trading is tough mentally and emotionally, which is why it’s smart to have a solid game plan to serve and follow. Following through with a plan will make the Good Voice strong. It will give you a sense of accomplishment and direction. The Bad Voice will only come in when you are lost or too emotional. The Good Voice will tell you not to double down or just keep the stop. Ground yourself when the Bad Voice starts to whisper to go ahead and reverse the position and double it.
Ultimately it takes experience -good and bad- to help build the muscles and endurance that makes listening to the Good Voice strong. So if you’re starting out, remember to step away when the Bad Voice enters your head and reconnect with your game plan. It’ll make your trading all the better.

Many ways to trade any market, many ways to lose money in any market and only very few ways to lock in gains. If you need help creating a trading plan, visit our broker assist services.



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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Futures Trading Levels

Contract Dec. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2100.08 4710.42 17904 1203.10 99.75
Resistance 2 2093.67 4692.58 17852 1197.40 99.54
Resistance 1 2080.83 4660.92 17748 1186.00 99.29
Pivot 2074.42 4643.08 17696 1180.30 99.09
Support 1 2061.58 4611.42 17592 1168.90 98.84
Support 2 2055.17 4593.58 17540 1163.20 98.63
Support 3 2042.33 4561.92 17436 1151.80 98.38
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds Dec.   Euro
Resistance 3 1101.3 14.69 45.33 153 1.0848
Resistance 2 1097.4 14.59 44.72 152 23/32 1.0813
Resistance 1 1091.0 14.43 43.84 152 15/32 1.0780
Pivot 1087.1 14.33 43.23 152 6/32 1.0745
Support 1 1080.7 14.17 42.35 151 30/32 1.0712
Support 2 1076.8 14.07 41.74 151 21/32 1.0677
Support 3 1070.4 13.91 40.86 151 13/32 1.0644
Contract Dec. Corn Dec. Wheat Jan Beans Dec. SoyMeal Dec. Nat Gas
Resistance 3 368.0 506.5 870.67 298.23 2.43
Resistance 2 365.8 502.3 866.08 296.27 2.39
Resistance 1 364.0 498.5 863.42 295.13 2.33
Pivot 361.8 494.3 858.83 293.17 2.29
Support 1 360.0 490.5 856.2 292.0 2.2
Support 2 357.8 486.3 851.58 290.07 2.19
Support 3 356.0 482.5 848.92 288.93 2.13
Economic Reports


All times are Eastern time Zone (EST)

Date 3:52pm Currency Impact Detail Actual Forecast Previous Graph
ThuNov 12  2:00am EUR German Final CPI m/m 0.0% 0.0%
2:45am EUR French CPI m/m 0.1% -0.4%
3:30am EUR ECB President Draghi Speaks
5:00am EUR Industrial Production m/m -0.1% -0.5%
5:30am EUR ECB President Draghi Speaks
8:30am USD Unemployment Claims 270K 276K
9:30am USD Fed Chair Yellen Speaks
10:00am USD JOLTS Job Openings 5.39M 5.37M
10:15am USD FOMC Member Evans Speaks
11:00am USD Crude Oil Inventories 0.8M 2.8M
12:15pm USD FOMC Member Dudley Speaks
1:01pm USD 30-y Bond Auction 2.91|2.5
2:00pm USD Federal Budget Balance -130.2B 91.1B
6:00pm USD FOMC Member Fischer 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 here in 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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