Trading Levels and Reports for 8-23-2012

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 Thursday August 23, 2012

 

Hello Traders,

From my colleague Dave Register at ExitPoints.com 

 

Why most futures traders lose money
1.Overtrading or underfunding your account
2.Chasing performance
3.Using an over optimized system
4.Failure to Always use Stop loss orders
5.Commissions too high
6.Large slippage in illiquid markets
7.Emotional Trading
Risk Control for Day Trading
1.Diversifymarkets you trade
2.USE Stop loss orders
3.USE limit orders for Objective profits
4.Exit at the end of the day

 

Also please like us on Facebook!!

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.

2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index

Contract Sept. 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1425.33 2827.67 13283 822.23 82.63
Resistance 2 1419.67 2808.83 13236 818.57 82.38
Resistance 1 1415.83 2795.67 13195 814.93 81.97
Pivot 1410.17 2776.83 13148 811.27 81.72
Support 1 1406.33 2763.67 13107 807.63 81.30
Support 2 1400.67 2744.83 13060 803.97 81.05
Support 3 1396.83 2731.67 13019 800.33 80.64

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract Dec Gold Sept. Euro Oct. Crude Oil Sept. Bonds
Resistance 3 1686.9 1.2677 99.07 149 25/32
Resistance 2 1672.5 1.2610 98.31 148 25/32
Resistance 1 1665.0 1.2568 97.79 148 12/32
Pivot 1650.6 1.2501 97.03 147 12/32
Support 1 1643.1 1.2459 96.51 146 31/32
Support 2 1628.7 1.2392 95.75 145 31/32
Support 3 1621.2 1.2350 95.23 145 18/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 851.0 919.8 1749.17 3079.2
Resistance 2 845.3 919.2 1740.58 3033.8
Resistance 1 840.0 917.8 1734.17 3007.7
Pivot 834.3 917.2 1725.58 2962.3
Support 1 829.0 915.8 1719.2 2936.2
Support 2 823.3 915.2 1710.58 2890.8
Support 3 818.0 913.8 1704.17 2864.7



5. Economic Reports

All times are Eastern time Zone (EST)

source:http://www.forexfactory.com/calendar.php

Date 4:02pm Currency Impact Detail Actual Forecast Previous Graph
Thu

Aug 23
 2:00am EUR
German Final GDP q/q
0.3% 0.3%
3:00am EUR
French Flash Manufacturing PMI
43.7 43.4
3:00am EUR
French Flash Services PMI
50.0 50.0
3:30am EUR
German Flash Manufacturing PMI
43.5 43.0
3:30am EUR
German Flash Services PMI
50.1 50.3
4:00am EUR
Flash Manufacturing PMI
44.2 44.0
4:00am EUR
Flash Services PMI
47.7 47.9
8:30am USD
Unemployment Claims
365K 366K
9:00am USD
Flash Manufacturing PMI
51.3 51.4
10:00am EUR
Consumer Confidence
-22 -22
10:00am USD
New Home Sales
363K 350K
10:00am USD
HPI m/m
0.6% 0.8%
10:30am USD
Natural Gas Storage
40B 20B
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
Tags: > > > Posted in: Future Trading News  

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