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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.

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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:

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

 

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.

 

Futures Trading Levels

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
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

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

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