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Heikin-Ashi Mini Russell 2000 chart; Economic Reports & Levels 10.02.2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

We started October with a bearish statement on stock indices and being October that may make some bulls even more concerned….Yet it seems that over the past 5 years the bulls were quick to buy any major corrections and following the FED and QE were able to ride the waves up.Well QE is being reduced and job figures may provide the Fed. more confidence to continue with reducing QE. Friday’s monthly reports will be watched closely as well as the X factor – QE in Europe?To be honest I was never much of an in depth fundamental guy as I simply follow too many markets to be an expert on the different fundamentals that move each market, so I try to keep on top of the major news/issues and I rely 80% on charts, especially when it comes to shorter/medium time frames.

Couple of days ago I shared mini SP 500 daily chart and today I want to share the mini Russell 2000, which in my opinion served as the “leader” of the pack over the last few years and this chart looks a bit more bearish then the rest…YET approaching major support level at 1075. Today’s low was 1077.10. Close enough? Will we pierce through it and start a new wave down or is a bounce on the horizon?….No one knows with 100% certainty. No one. What one can do is look at different scenarios, prepare different trading plans along with money management rules and let price action show you the way.
Next couple of days will be interesting to watch and I suspect we will see more of the same volatility we witnessed last few days.

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. Past performance is not indicative to future results.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Contract Dec. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1993.67 4112.50 17211 1115.27 86.65
Resistance 2 1980.33 4079.25 17098 1106.83 86.47
Resistance 1 1960.42 4032.00 16917 1093.97 86.25
Pivot 1947.08 3998.75 16804 1085.53 86.07
Support 1 1927.17 3951.50 16623 1072.67 85.84
Support 2 1913.83 3918.25 16510 1064.23 85.66
Support 3 1893.92 3871.00 16329 1051.37 85.44
Contract December Gold Dec.Silver Nov. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1236.4 18.03 94.83 141 19/32 1.2708
Resistance 2 1228.2 17.74 93.90 140 23/32 1.2677
Resistance 1 1221.4 17.46 92.34 140 7/32 1.2651
Pivot 1213.2 17.16 91.41 139 11/32 1.2620
Support 1 1206.4 16.88 89.85 138 27/32 1.2594
Support 2 1198.2 16.59 88.92 137 31/32 1.2563
Support 3 1191.4 16.31 87.36 137 15/32 1.2537
Contract Dec Corn Dec. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 325.9 489.2 936.17 304.60 33.68
Resistance 2 324.1 484.3 927.58 302.00 33.31
Resistance 1 322.7 481.7 922.17 300.30 33.06
Pivot 320.8 476.8 913.58 297.70 32.69
Support 1 319.4 474.2 908.2 296.0 32.4
Support 2 317.6 469.3 899.58 293.40 32.07
Support 3 316.2 466.7 894.17 291.70 31.82
Economic Reports

source: http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

 

 

Date 4:23pm Currency Impact Detail Actual Forecast Previous Graph
ThuOct 2  3:00am EUR Spanish Unemployment Change 31.3K 8.1K
5:00am EUR PPI m/m -0.2% -0.1%
Tentative EUR Spanish 10-y Bond Auction 2.27|1.8
Tentative EUR French 10-y Bond Auction 1.32|2.8
7:30am USD Challenger Job Cuts y/y -20.7%
7:45am EUR Minimum Bid Rate 0.05% 0.05%
8:30am EUR ECB Press Conference
USD Unemployment Claims 299K 293K
10:00am USD Factory Orders m/m -9.4% 10.5%
10:30am USD Natural Gas Storage 107B 97B

 
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.

Tags: > Posted in: Future Trading News  

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