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Mini Dow Futures Outlook & Risk/Reward – Trading Levels & Reports for 10.31.2013

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

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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 October 31, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

So FOMC came and gone and like I said many times before, many times the real reaction comes the next day.
Which way, I am not sure but I am sharing a daily chart of the mini Dow futures where I see either potential for double top if we hold below today’s high OR potential for a break above and move towards the next FIBONACCI extension as seen on the chart.

As always in our business….time will tell, which brings me to a different point I would like to share:

My thoughts are as follow, there is probably 65% chance this market will try to make a new high and break today’s high ( in my opinion), however, I think that is we make a new high it will not be that much further than were we at now. While I think there is better chances for a move up, I think that if we do make a move down, there are HIGHER probabilities for a larger move downside than a larger move to the upside….hope this make sense. Based on this personal view of mine, I will look for a short set up with relatively small stop in hopes to catch the next big wave down. it may take a few attempts on my end but I like the risk / reward of this set up and hope that by sharing the thought process I gave you an idea on another approach for trading.

 

YM - E-Mini Dow Futures - $5 Multiplier, Equlaized Active Daily Continuation

YM – E-Mini Dow Futures – $5 Multiplier

If you like the information we share? We would appreciate your positive reviews on our new yelp!!

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.

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

Futures Trading Levels

Contract Dec. 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1791.92 3435.25 15823 1140.53 80.52
Resistance 2 1782.58 3418.50 15750 1131.77 80.25
Resistance 1 1770.42 3397.75 15655 1117.83 80.03
Pivot 1761.08 3381.00 15582 1109.07 79.76
Support 1 1748.92 3360.25 15487 1095.13 79.54
Support 2 1739.58 3343.50 15414 1086.37 79.27
Support 3 1727.42 3322.75 15319 1072.43 79.05
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds  Dec. Euro
Resistance 3 1382.0 2376.8 98.75 136 20/32 1.3870
Resistance 2 1370.8 2343.2 98.28 136  6/32 1.3829
Resistance 1 1356.9 2306.3 97.52 135 16/32 1.3780
Pivot 1345.7 2272.7 97.05 135  2/32 1.3739
Support 1 1331.8 2235.8 96.29 134 12/32 1.3690
Support 2 1320.6 2202.2 95.82 133 30/32 1.3649
Support 3 1306.7 2165.3 95.06 133  8/32 1.3600
Contract Dec Corn Dec. Wheat Jan .Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 438.3 681.9 1285.33 418.70 42.31
Resistance 2 436.4 680.3 1282.17 416.60 42.11
Resistance 1 433.3 677.7 1279.33 414.20 41.86
Pivot 431.4 676.1 1276.17 412.10 41.66
Support 1 428.3 673.4 1273.3 409.7 41.4
Support 2 426.4 671.8 1270.17 407.60 41.21
Support 3 423.3 669.2 1267.33 405.20 40.96
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

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

All times are Eastern time Zone (EST)

 

Date 4:19pm Currency Impact Detail Actual Forecast Previous Graph
ThuOct 31  3:00am EUR German Retail Sales m/m 0.5% -0.2%
EUR GfK German Consumer Climate 7.3 7.1
EUR German Import Prices m/m 0.2% 0.1%
3:45am EUR French Consumer Spending m/m 0.2% -0.4%
5:00am EUR Italian Monthly Unemployment Rate 12.4% 12.2%
6:00am EUR CPI Flash Estimate y/y 1.1% 1.1%
EUR Unemployment Rate 12.0% 12.0%
EUR Italian Prelim CPI m/m 0.4% -0.3%
7:30am USD Challenger Job Cuts y/y 19.1%
8:30am USD Unemployment Claims 341K 350K
9:00am USD Treasury Sec Lew Speaks
9:45am USD Chicago PMI 55.1 55.7
10:30am USD Natural Gas Storage 35B 87B

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

Tags: > > Posted in: Commodity Trading   | Future Trading News   | Futures Trading  

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