Trading Levels and Reports for July 13, 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 July 13, 2012
Hello Traders,
We saw some volatility in the markets today and swings on both sides. I expect more volatility during tomorrow’s session, which MOST day-traders like. Remember to adjust your trading size LOWER as volatility gets HIGHER….
Below is a daily chart of the mini Russell 2000 contract.
Tomorrow is Friday the 13th…I think if we take out today’s lows, the door will open for a more serious downside move.
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 | 1350.67 | 2588.08 | 12710 | 808.43 | 84.40 |
| Resistance 2 | 1342.58 | 2569.17 | 12635 | 799.37 | 84.19 |
| Resistance 1 | 1336.17 | 2553.83 | 12575 | 792.93 | 83.99 |
| Pivot | 1328.08 | 2534.92 | 12500 | 783.87 | 83.79 |
| Support 1 | 1321.67 | 2519.58 | 12440 | 777.43 | 83.59 |
| Support 2 | 1313.58 | 2500.67 | 12365 | 768.37 | 83.38 |
| Support 3 | 1307.17 | 2485.33 | 12305 | 761.93 | 83.18 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| ontract | Aug Gold | Sept. Euro | Aug Crude Oil | Sept. Bonds | |
| Resistance 3 | 1605.4 | 1.2338 | 88.89 | 152 31/32 | |
| Resistance 2 | 1591.6 | 1.2299 | 87.63 | 152 10/32 | |
| Resistance 1 | 1581.9 | 1.2255 | 86.73 | 151 31/32 | |
| Pivot | 1568.1 | 1.2216 | 85.47 | 151 10/32 | |
| Support 1 | 1558.4 | 1.2172 | 84.57 | 150 31/32 | |
| Support 2 | 1544.6 | 1.2133 | 83.31 | 150 10/32 | |
| Support 3 | 1534.9 | 1.2089 | 82.41 | 149 31/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Sept. Silver | |
| Resistance 3 | 780.3 | 900.8 | 1553.00 | 2844.7 | |
| Resistance 2 | 759.8 | 879.4 | 1546.00 | 2789.8 | |
| Resistance 1 | 746.0 | 863.1 | 1537.50 | 2752.2 | |
| Pivot | 725.5 | 841.7 | 1530.50 | 2697.3 | |
| Support 1 | 711.8 | 825.3 | 1522.0 | 2659.7 | |
| Support 2 | 691.3 | 803.9 | 1515.00 | 2604.8 | |
| Support 3 | 677.5 | 787.6 | 1506.50 | 2567.2 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:07pm | Currency | Impact | Detail | Actual | Forecast | Previous | Chart | |
|
Fri
Jul 13 |
Tentative | EUR |
Italian 10-y Bond Auction
|
 |
6.19|1.3
|
||||
| 8:30am | USD |
PPI m/m
|
 |
-0.5% |
-1.0%
|
 |
|||
| 8:30am | USD |
Core PPI m/m
|
|
0.3% |
0.2%
|
|
|||
| 9:55am | USD |
Prelim UoM Consumer Sentiment
|
|
73.5 |
73.2
 |
|
|||
| 9:55am | USD |
Prelim UoM Inflation Expectations
|
|
3.1%
|
|
||||
| 1:20pm | USD |
FOMC Member Lockhart 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
