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.
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