Trading Levels and Economic Reports for February 22, 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 Friday February 22, 2013
For 2013 I would like to wish all of you discipline and patience in your trading!
As I mentioned yesterday, it seems that the stock index futures are shifting from lower volatility to slightly higher volatility. Traders need to adjust and modify their trading accordingly, in my opinion.
Today’s lows at 1495 basis the March Mini SP 500 will function as the first major support. An hourly close below, can trigger 1473. On the way up, I am looking at 1512 as a level to watch in case the rally resumes.
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