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 March 7, 2013
For 2013 I would like to wish all of you discipline and patience in your trading!
For those of you trading any stock index futures contracts (E-mini S&P, E-mini NASDAQ, E-mini Dow Jones, the “Big” pit-traded S&P 500, etc.) 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.
For more information, here’s the link to the CME web site http://www.cmegroup.com/trading/equity-index/files/Rollover_Dates.pdf.
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.
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