Trading Levels and Economic Reports for February 21, 2013

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.

Trading Levels and Economic Reports for February 21, 2013


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 February 21, 2013


Hello Traders,

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


We finally had a volatility and price breakout on stock index futures. After a long period of very low volatility and tight ranges, market experienced higher volatility today and broke to the down side.

Markets do go through cycles of lower and higher volatility and traders need to adjust their strategy accordingly.

Below is a daily chart of the mini Russell 2000, which has been somewhat the leader of stock indices recently. Notice we are sitting on first support (red line, DMA) at 912 with next level at 891

daily mini russell chart




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.


trading levels



5. Economic Reports


All times are Eastern time Zone (EST)

Date 2:24pm Currency Impact Detail Actual Forecast Previous Graph
ThuFeb 21  3:00am EUR French Flash Manufacturing PMI 43.9 42.9
EUR French Flash Services PMI 44.5 43.6
3:30am EUR German Flash Manufacturing PMI 50.4 49.8
EUR German Flash Services PMI 55.5 55.7
4:00am EUR Flash Manufacturing PMI 48.4 47.9
EUR Flash Services PMI 49.2 48.6
Tentative EUR Spanish 10-y Bond Auction 5.29|2.3
8:30am USD Core CPI m/m 0.2% 0.1%
USD Unemployment Claims 353K 341K
USD CPI m/m 0.1% 0.0%
9:00am USD Flash Manufacturing PMI 55.6 55.8
10:00am USD Existing Home Sales 4.89M 4.94M
USD Philly Fed Manufacturing Index 1.1 -5.8
21st-24th USD Mortgage Delinquencies 7.40%
10:00am USD CB Leading Index m/m 0.2% 0.5%
10:30am USD Natural Gas Storage -119B -157B
11:00am USD Crude Oil Inventories 1.9M 0.6M
12:30pm USD FOMC Member Bullard 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 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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