Trading Levels and Economic Reports for February 21, 2013
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 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
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.
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
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
