Trading Levels and Economic Reports for May 3, 2013
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday May 3, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
Some big moves took place over the last few days with different reports here in the US as well as in Europe.
Tomorrow we have monthly non farm payroll, another market moving report, coming out early in the morning, an hour before the cash open.
Here is some info about this report:
- Specs
- © Forex Factory
| Source | Bureau of Labor Statistics (latest release) |
| Measures | Change in the number of employed people during the previous month, excluding the farming industry; |
| Usual Effect | Actual > Forecast = Good for currency; |
| Frequency | Released monthly, usually on the first Friday after the month ends; |
| Next Release | Jun 7, 2013 |
| FF Notes | This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts; |
| Why Traders Care |
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity; |
| Also Called | Non-Farm Payrolls, NFP, Employment Change; |
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GOOD TRADING
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| Contract June 2013 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1613.42 | 2964.00 | 14940 | 959.00 | 83.49 |
| Resistance 2 | 1603.83 | 2937.25 | 14858 | 948.70 | 82.95 |
| Resistance 1 | 1597.92 | 2920.75 | 14808 | 942.60 | 82.61 |
| Pivot | 1588.33 | 2894.00 | 14726 | 932.30 | 82.08 |
| Support 1 | 1582.42 | 2877.50 | 14676 | 926.20 | 81.74 |
| Support 2 | 1572.83 | 2850.75 | 14594 | 915.90 | 81.20 |
| Support 3 | 1566.92 | 2834.25 | 14544 | 909.80 | 80.86 |
| Contract | June Gold | July Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1502.3 | 2501.0 | 98.88 | 150 12/32 | 1.3363 |
| Resistance 2 | 1487.8 | 2460.0 | 96.57 | 149 28/32 | 1.3292 |
| Resistance 1 | 1477.1 | 2419.0 | 95.28 | 149 18/32 | 1.3181 |
| Pivot | 1462.6 | 2378.0 | 92.97 | 149 2/32 | 1.3110 |
| Support 1 | 1451.9 | 2337.0 | 91.68 | 148 24/32 | 1.2999 |
| Support 2 | 1437.4 | 2296.0 | 89.37 | 148 8/32 | 1.2928 |
| Support 3 | 1426.7 | 2255.0 | 88.08 | 147 30/32 | 1.2817 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 678.2 | 736.2 | 1389.50 | 413.77 | 49.43 |
| Resistance 2 | 670.3 | 732.3 | 1384.75 | 411.33 | 49.22 |
| Resistance 1 | 666.2 | 730.4 | 1378.50 | 408.77 | 48.86 |
| Pivot | 658.3 | 726.6 | 1373.75 | 406.33 | 48.65 |
| Support 1 | 654.2 | 724.7 | 1367.5 | 403.8 | 48.3 |
| Support 2 | 646.3 | 720.8 | 1362.75 | 401.33 | 48.08 |
| Support 3 | 642.2 | 718.9 | 1356.50 | 398.77 | 47.72 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:13pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriMay 3 | 5:00am | EUR | EU Economic Forecasts | ||||||
| EUR | PPI m/m | -0.1% | 0.2% | ||||||
| 8:30am | USD | Non-Farm Employment Change | 146K | 88K | |||||
| USD | Unemployment Rate | 7.6% | 7.6% | ||||||
| USD | Average Hourly Earnings m/m | 0.2% | 0.0% | ||||||
| 10:00am | USD | ISM Non-Manufacturing PMI | 54.1 | 54.4 | |||||
| USD | Factory Orders m/m | -2.8% | 3.0% | ||||||
| 12:30pm | USD | FOMC Member Tarullo 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
