Reports and Trading Levels for November 15, 2012
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Thursday November 15, 2012
Hello Traders,
I mentioned last week ( Nov. 7th blog) that the next target on the ES is 1358. Today we met this target and then broke and CLOSED below it.
What next? I wish I had a crystal ball to predict but I don’t….however based on technical tools and statistics my speculation is that we will head towards the 1332 level. That being said, I do think that we are oversold at this point and can see a strong short covering bounce at any time. Daily chart for your review below:
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.
| Contract Dec. 2012 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1404.58 | 2626.58 | 12930 | 808.97 | 447.70 |
| Resistance 2 | 1393.17 | 2606.17 | 12845 | 800.93 | 444.20 |
| Resistance 1 | 1372.33 | 2567.33 | 12685 | 786.17 | 440.10 |
| Pivot | 1360.92 | 2546.92 | 12600 | 778.13 | 436.60 |
| Support 1 | 1340.08 | 2508.08 | 12440 | 763.37 | 432.50 |
| Support 2 | 1328.67 | 2487.67 | 12355 | 755.33 | 429.00 |
| Support 3 | 1307.83 | 2448.83 | 12195 | 740.57 | 424.90 |
| Contract | Dec Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1745.8 | 3347.7 | 88.66 | 153 9/32 | 1.2862 |
| Resistance 2 | 1740.0 | 3320.3 | 87.66 | 152 23/32 | 1.2824 |
| Resistance 1 | 1732.2 | 3291.2 | 86.94 | 152 15/32 | 1.2781 |
| Pivot | 1726.4 | 3263.8 | 85.94 | 151 29/32 | 1.2743 |
| Support 1 | 1718.6 | 3234.7 | 85.22 | 151 21/32 | 1.2700 |
| Support 2 | 1712.8 | 3207.3 | 84.22 | 151 3/32 | 1.2662 |
| Support 3 | 1705.0 | 3178.2 | 83.50 | 150 27/32 | 1.2619 |
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 736.8 | 851.0 | 1430.67 | 447.70 | 48.20 |
| Resistance 2 | 732.9 | 850.3 | 1427.33 | 444.20 | 48.02 |
| Resistance 1 | 729.3 | 849.5 | 1423.17 | 440.10 | 47.85 |
| Pivot | 725.4 | 848.8 | 1419.83 | 436.60 | 47.67 |
| Support 1 | 721.8 | 848.0 | 1415.7 | 432.5 | 47.5 |
| Support 2 | 717.9 | 847.3 | 1412.33 | 429.00 | 47.32 |
| Support 3 | 714.3 | 846.5 | 1408.17 | 424.90 | 47.15 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:11pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Thu
Nov 15
|
1:30am | EUR |
French Prelim GDP q/q
|
0.0% | 0.0% | ||||
| 2:00am | EUR |
German Prelim GDP q/q
|
0.1% | 0.3% | |||||
| 4:00am | EUR |
ECB Monthly Bulletin
|
|||||||
| 4:00am | EUR |
Italian Prelim GDP q/q
|
-0.4% | -0.8% | |||||
| 5:00am | EUR |
CPI y/y
|
2.5% | 2.5% | |||||
| 5:00am | EUR |
Core CPI y/y
|
1.5% | 1.5% | |||||
| 5:00am | EUR |
Flash GDP q/q
|
-0.2% | -0.2% | |||||
| 8:30am | USD |
Core CPI m/m
|
0.1% | 0.1% | |||||
| 8:30am | USD |
Unemployment Claims
|
372K | 355K | |||||
| 8:30am | USD |
CPI m/m
|
0.1% | 0.6% | |||||
| 8:30am | USD |
Empire State Manufacturing Index
|
-7.2 | -6.2 | |||||
| 9:00am | USD |
FOMC Member Lacker Speaks
|
|||||||
| 10:00am | USD |
Philly Fed Manufacturing Index
|
1.1 | 5.7 | |||||
| 10:00am | USD |
Mortgage Delinquencies
|
7.58% | ||||||
| 10:30am | USD |
Natural Gas Storage
|
-13B | 21B | |||||
| 11:00am | USD |
Crude Oil Inventories
|
2.5M | 1.8M | |||||
| 1:20pm | USD |
Fed Chairman Bernanke Speaks
|
|||||||
| 6:30pm | USD |
FOMC Member Dudley Speaks
|
