Trading Levels and Economic Reports for March 8, 2013 - Cannon Trading

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 March 8, 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 Friday March 8, 2013


Hello Traders,

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

JUNE is now the front month for stock index futures. So if you are trading mini SP, mini Nasdaq, mini Dow, Mini Russell – you need to start trading the June contract.
The symbol for June is M, example ESM3MONTHLY UNEMPLOYMENT is tomorrow before cash open ( 8:30 Am Eastern Time). This is a market moving event that normally helps volatility.


Below is a screen shot of the April Brent Crude Oil chart from today, using my intraday chart template. In the chart you will see some good signals and signals that did not turn as well…


Intra day Brent Crude Chart


Would you like to have access to my DIAMOND and TOPAZ ALGOs as shown above

and be able to apply for any market and any time frame on your own PC ?   You can now have a two weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.




To start your trial, please visit:



If so, please send me an email with the following information:



1. Are you currently trading futures?

2. Charting software you use?

3. If you use sierra or ATcharts, please let me know the user name so I can enable you

4. Markets you currently trading?


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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.



support & resistance levels




5. Economic Reports


All times are Eastern time Zone (EST)

Date 4:14pm Currency Impact Detail Actual Forecast Previous Graph
FriMar 8 2:45am EUR French Gov Budget Balance -87.2B
6:00am EUR German Industrial Production m/m 0.6% 0.3%
8:30am USD Non-Farm Employment Change 162K 157K
USD Unemployment Rate 7.9% 7.9%
USD Average Hourly Earnings m/m 0.2% 0.2%
10:00am USD Wholesale Inventories m/m 0.4% -0.1%
8:00pm USD FOMC Member Duke 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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