Monthly Unemployment & Economic Reports 10.02.2015

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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 Friday October 2, 2015

Hello Traders,

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

Monthly unemployment tomorrow morning! Market mover, be ready.

and on the topic of reports, trading , demo….great read below:

Why Didn’t I Get Filled? A treatise to Demo Traders”, on behalf of brokers everywhere.

By: Justin Smith, Cannon Trading Commodities BrokerDemo Trading. Also known as simulated trading, paper trading, playing with Monopoly money; whatever you’d like to call it, a demo can be your best friend or your worst enemy. Every Futures broker dreads having this conversation with their clients, as it is necessary with every new trader; however, much to a broker’s chagrin, every new trader will say that they already understand when in fact they rarely do. Let me assure you, if you’re a new or even sometimes-intermediate trader, you probably don’t. You may understand one popular issue of the conversation but odds are if you have been paper trading for five years waiting to be “successful” or to “understand the futures markets” in the simulated world before moving on, you have less of a chance of being successful in the live futures markets because you’re setting yourself up for failure (if you ever do, in fact, trade in the live markets). You should seriously consider speaking with a licensed commodities and futures broker before diving in.For the uninitiated, demo trading is the practice of trying out an online trading platform on a simulated basis-in a free demo trading account, you’re granted simulated funds, you’re placing simulated orders in the markets and you’re shown simulated profits and losses on what your trades might have done for you if you were futures trading on a live platform with live funds. First and foremost, it’s a wonderful technological tool for testing out a platform to see if it will suit your trading methodology. It can also be used to try different trading strategies, but problems arise when one equates simulated trading too much with live futures trading.

READ FULL ARTICLE

https://www.cannontrading.com/community/newsletter/Why-Didnt-I-get-my-fills#one

 

Did you know Cannon offers FOREX trading including the MT4 platform? Check out our Trading Systems/ALGO Trading and Managed Accounts section!

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

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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Futures Trading Levels

Contract Dec. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1972.50 4344.92 16739 1140.70 97.15
Resistance 2 1951.00 4285.33 16542 1124.60 96.89
Resistance 1 1933.25 4235.42 16362 1109.70 96.61
Pivot 1911.75 4175.83 16165 1093.60 96.35
Support 1 1894.00 4125.92 15985 1078.70 96.06
Support 2 1872.50 4066.33 15788 1062.60 95.80
Support 3 1854.75 4016.42 15608 1047.70 95.52
Contract Dec. Gold Dec. Silver Nov. Crude Oil Dec. Bonds Dec.   Euro
Resistance 3 1126.0 14.88 49.02 159 10/32 1.1306
Resistance 2 1122.3 14.78 48.06 158 31/32 1.1265
Resistance 1 1117.8 14.64 46.55 158 12/32 1.1231
Pivot 1114.1 14.54 45.59 158 1/32 1.1190
Support 1 1109.6 14.40 44.08 157 14/32 1.1156
Support 2 1105.9 14.30 43.12 157 3/32 1.1115
Support 3 1101.4 14.16 41.61 156 16/32 1.1081
Contract Dec. Corn Dec. Wheat Nov Beans Dec. SoyMeal Nov. Nat Gas
Resistance 3 400.8 536.1 914.58 313.80 2.63
Resistance 2 396.9 529.9 906.92 311.70 2.58
Resistance 1 392.8 524.1 892.08 307.80 2.51
Pivot 388.9 517.9 884.42 305.70 2.46
Support 1 384.8 512.1 869.6 301.8 2.4
Support 2 380.9 505.9 861.92 299.70 2.34
Support 3 376.8 500.1 847.08 295.80 2.27
Economic Reports

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

All times are Eastern time Zone (EST)

 

Date 4:34pm Currency Impact Detail Actual Forecast Previous Graph
FriOct 2 3:00am EUR Spanish Unemployment Change 17.9K 21.7K
5:00am EUR PPI m/m -0.5% -0.1%
8:30am USD Average Hourly Earnings m/m 0.2% 0.3%
USD Non-Farm Employment Change 202K 173K
USD Unemployment Rate 5.1% 5.1%
10:00am USD Factory Orders m/m -0.9% 0.4%
1:30pm 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

Tags: > Posted in: Future Trading News  

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