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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.

 

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 March 7, 2013

 

Hello Traders,

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

 

Rollover day for stock index futures is this Thursday.

 

 

For those of you trading any stock index futures contracts (E-mini S&PE-mini NASDAQE-mini Dow Jones, the “Big” pit-traded S&P 500etc.) it is extremely important to remember that this Thursday, March 7, is rollover day.

 

Starting Thursday, March 7, the June 2013 futures contracts will be the front month contracts.  Please note that the month symbol for June is M; so for example the mini S&P contract symbol would be ESM3.  It is recommended that all new positions be placed in the June 2013 contracts as of this Thursday.  Volume in the March ’13 contracts will begin to drop off until its expiration on Friday March 15th.

 

An additional note to pit traders:

 

Please be aware of liquidity issues in the March ’13 pit-traded contracts.  Expect sharply decreased liquidity beginning Thursday morning.  Carefully consider whether you wish to place Market or Stop orders in these contracts after that time as the executing brokers in the March ’13 contracts of the “Big” / pit-traded indexes will not be “held” on ANY order and they will not take Cancel and Replace orders at all beginning Friday March 8th.

 

More information:

 

For more information, here’s the link to the CME web site http://www.cmegroup.com/trading/equity-index/files/Rollover_Dates.pdf.


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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.

 

support & resistance levels for March 7th

 

 

 

5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:07pm Currency Impact Detail Actual Forecast Previous Graph
ThuMar 7  2:45am EUR French Trade Balance -4.8B -5.3B
Tentative EUR Spanish 10-y Bond Auction 5.20|1.6
Tentative EUR French 10-y Bond Auction 2.30|3.1
6:00am EUR German Factory Orders m/m 0.6% 0.8%
7:30am USD Challenger Job Cuts y/y -24.4%
7:45am EUR Minimum Bid Rate 0.75% 0.75%
8:30am EUR ECB Press Conference
USD Trade Balance -42.8B -38.5B
USD Unemployment Claims 354K 344K
USD Revised Nonfarm Productivity q/q -1.6% -2.0%
USD Revised Unit Labor Costs q/q 4.4% 4.5%
10:30am USD Natural Gas Storage -135B -171B
1:15pm USD FOMC Member Powell Speaks
3:00pm USD Consumer Credit m/m 15.2B 14.6B
4:30pm USD Bank Stress Test Results

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

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