Trading Levels and Reports for 11-09-2012
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 November 9, 2012
Hello Traders,
Market definitely broke to the downside following the election results.
We closed today below the 1384 support level, which opens the door for a test of 1358.
Keep in mind that the day-trading ranges are getting wider, volatility is picking up. For me personally that means two things:
Trade SMALLER quantity and give your trades more room, be more patient on your entries.
Daily chart of the mini SP for your review below:
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.
| Contract Dec. 2012 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1412.00 | 2660.08 | 13028 | 813.27 | 478.47 |
| Resistance 2 | 1404.75 | 2641.67 | 12977 | 808.93 | 475.03 |
| Resistance 1 | 1391.25 | 2608.33 | 12888 | 800.97 | 468.97 |
| Pivot | 1384.00 | 2589.92 | 12837 | 796.63 | 465.53 |
| Support 1 | 1370.50 | 2556.58 | 12748 | 788.67 | 459.47 |
| Support 2 | 1363.25 | 2538.17 | 12697 | 784.33 | 456.03 |
| Support 3 | 1349.75 | 2504.83 | 12608 | 776.37 | 449.97 |
| Contract | Dec Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1763.7 | 3350.0 | 87.17 | 153 20/32 | 1.2838 |
| Resistance 2 | 1749.4 | 3297.5 | 86.43 | 152 16/32 | 1.2810 |
| Resistance 1 | 1741.2 | 3268.0 | 85.69 | 151 31/32 | 1.2778 |
| Pivot | 1726.9 | 3215.5 | 84.95 | 150 27/32 | 1.2750 |
| Support 1 | 1718.7 | 3186.0 | 84.21 | 150 10/32 | 1.2718 |
| Support 2 | 1704.4 | 3133.5 | 83.47 | 149 6/32 | 1.2690 |
| Support 3 | 1696.2 | 3104.0 | 82.73 | 148 21/32 | 1.2658 |
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 751.0 | 917.8 | 1513.83 | 478.47 | 49.64 |
| Resistance 2 | 748.8 | 910.2 | 1509.92 | 475.03 | 49.41 |
| Resistance 1 | 745.0 | 906.3 | 1502.83 | 468.97 | 49.09 |
| Pivot | 742.8 | 898.7 | 1498.92 | 465.53 | 48.86 |
| Support 1 | 739.0 | 894.8 | 1491.8 | 459.5 | 48.5 |
| Support 2 | 736.8 | 887.2 | 1487.92 | 456.03 | 48.31 |
| Support 3 | 733.0 | 883.3 | 1480.83 | 449.97 | 47.99 |
5. Economic Reports
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
| Date | 4:03pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Fri
Nov 9
|
2:00am | EUR |
German Final CPI m/m
|
0.0% | 0.0% | ||||
| 2:45am | EUR |
French Industrial Production m/m
|
-0.9% | 1.5% | |||||
| 2:45am | EUR |
French Gov Budget Balance
|
-97.7B | ||||||
| 4:00am | EUR |
Italian Industrial Production m/m
|
-1.4% | 1.7% | |||||
| 8:30am | USD |
Import Prices m/m
|
0.0% | 1.1% | |||||
| 9:55am | USD |
Prelim UoM Consumer Sentiment
|
82.6 | 82.6 | |||||
| 9:55am | USD |
Prelim UoM Inflation Expectations
|
3.1% | ||||||
| 10:00am | USD |
Wholesale Inventories m/m
|
0.4% | 0.5% |
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
