Trading Levels and Reports for January 15, 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 Reports for January 15, 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 Tuesday January 15, 2013


Hello Traders,

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


Using Volume Charts for Day-Trading:


My theory is that when it comes to short term day trading, volume is much more important than time, hence I use volume bars/charts quite a bit. I use bars of between 1,000 to 18,000 contracts traded (pending the specific market, based on recent volatility, average daily trade volume and a few other factors). That means that instead of bars completing based on time frame (i.e. 1 minute or 15 minutes etc.), I use volume instead of time. So each time X,000 contracts traded, a new bar will complete. When the specific market has high volume and is moving fast, the bars will complete faster. When market is in low volume without much action, the bars will complete slower.


For me personally, this has helped getting signals ahead of time when there is fast action in the market and avoiding false signals when volume is low.



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.


suppport and resistance levels for futures



5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:57pm Currency Impact Detail Actual Forecast Previous Graph
TueJan 15 2:00am EUR German Final CPI m/m 0.9% 0.9%
2:45am EUR French Gov Budget Balance -94.6B
5:00am EUR Trade Balance 8.2B 7.9B
8:00am USD FOMC Member Rosengren Speaks
8:30am USD Core Retail Sales m/m 0.2% 0.0%
USD PPI m/m -0.1% -0.8%
USD Retail Sales m/m 0.2% 0.3%
USD Core PPI m/m 0.2% 0.1%
USD Empire State Manufacturing Index 1.9 -8.1
10:00am USD Business Inventories m/m 0.3% 0.4%

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

Click to rate this post!
[Total: 0 Average: 0]
Tags: > > > Posted in: Future Trading News  

Comments are closed.

Trading Expertise As Featured In

Trading Tips You Can Use Right Away!

Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
  • License 3 Broker at your Fingertips