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 Tuesday March 5, 2013
For 2013 I would like to wish all of you discipline and patience in your trading!
Choppy action today in stock indices as we approach rollover day this Thursday.
It seems that counter trend set ups work much better on days like today rather than trying to catch a trend since there was none…..
The market looks like it can have another push up if we can get a close above 1530 but at this point I really don’t have a strong opinion on the direction of this market from a swing trading point of view.
I think that the economic numbers along with rollover activity this Wednesday, Thursday and Friday may finally give the market a direction and hope they provide us with a clue.
As far as Day Trading I honestly think that discipline and the ability to accept a loss on any given day are the biggest factors for many traders out there.
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