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No Trade is Better Than a Bad Trade 11.10.2016

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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 November 10, 2016

Greetings!

Wow! What a volatile 24 hours we had across many markets. Mini Nasdaq limit down at one time, Mexican Peso down 11% at one point, bonds saw a 6 point swing, Dow had a range of over1100 points!! This one will definitely go down in the history books of trading….

What’s next?

Expect volatility and uncertainty to remain although not to this extent. Go back in your notes, research some volatile trading periods and adjust your trading accordingly and last but not least, remember that “No trade is better than a BAD trade”.

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

Levels for Trade Date of 11.10.2016

Contract Dec. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2346.08 5200.67 20111 1377.83 102.31
Resistance 2 2256.42 5019.08 19350 1305.47 100.48
Resistance 1 2207.83 4921.67 18939 1268.33 99.57
Pivot 2118.17 4740.08 18178 1195.97 97.74
Support 1 2069.58 4642.67 17767 1158.83 96.82
Support 2 1979.92 4461.08 17006 1086.47 94.99
Support 3 1931.33 4363.67 16595 1049.33 94.08
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds Dec.   Euro
Resistance 3 1389.6 19.57 49.48 170 21/32 1.1581
Resistance 2 1364.0 19.29 47.72 167 26/32 1.1449
Resistance 1 1319.4 18.84 46.60 162 12/32 1.1186
Pivot 1293.8 18.56 44.84 159 17/32 1.1054
Support 1 1249.2 18.11 43.72 154 3/32 1.0791
Support 2 1223.6 17.83 41.96 151 8/32 1.0659
Support 3 1179.0 17.38 40.84 145 26/32 1.0396
Contract Dec. Corn Dec. Wheat Jan. Beans Dec. SoyMeal Dec. Nat Gas
Resistance 3 364.8 429.1 1044.17 329.23 2.97
Resistance 2 359.9 423.4 1030.83 324.27 2.85
Resistance 1 350.3 415.1 1010.92 317.83 2.77
Pivot 345.4 409.4 997.58 312.87 2.66
Support 1 335.8 401.1 977.7 306.4 2.6
Support 2 330.9 395.4 964.33 301.47 2.46
Support 3 321.3 387.1 944.42 295.03 2.38

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

All times are Eastern time Zone (EST)

Date 4:04pm Currency Impact Detail Actual Forecast Previous Graph
WedNov 9  4:30am GBP
Goods Trade Balance
-11.3B -12.1B
5:00am EUR
EU Economic Forecasts
10:00am USD
Final Wholesale Inventories m/m
0.2% 0.2%
10:30am USD
Crude Oil Inventories
1.3M 14.4M
1:00pm GBP
MPC Member Haldane Speaks
1:01pm USD
10-y Bond Auction
1.79|2.5
7:01pm GBP
RICS House Price Balance
18% 17%

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 judgement in trading.

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

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