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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.

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 November 1, 2012

 

Hello Traders,

 Monthly Unemployment numbers tomorrow at 7:30 AM central time, an hour before cash open.

This is a market moving report so be aware!

DESCRIPTION
Monthly change in employment excluding the farming sector. Nonfarm payrolls is an influential statistic and economic indicator released monthly by the US Bureau of Labor Statistics as part of a comprehensive report on the state of the labor market. Payroll jobs move with the economy and help define business cycles; the figure is therefore analysed to determine whether the economy is expanding or contracting.As the Federal Reserve is mandated to establish a monetary policy that ensures maximum employment, the Fed pays particular attention to this employment statistic. A surge in new nonfarm payrolls suggests rising employment and thus potential inflationary pressures, which the Fed often counters with rate increases. On the other hand, a consistent decline in nonfarm employment suggests a slowing economy, which makes a decrease in rates more likely.
WEB ADDRESS
http://www.bls.gov/

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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.

 

 

Contract Dec. 2012  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1457.00 2757.92 13363 847.80 496.47
Resistance 2 1440.50 2721.33 13287 837.40 493.23
Resistance 1 1431.50 2700.42 13223 831.30 488.77
Pivot 1415.00 2663.83 13147 820.90 485.53
Support 1 1406.00 2642.92 13083 814.80 481.07
Support 2 1389.50 2606.33 13007 804.40 477.83
Support 3 1380.50 2585.42 12943 798.30 473.37
Contract Dec Gold Dec. Silver Dec. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1736.8 3306.2 89.08 149 19/32 1.3037
Resistance 2 1732.2 3287.8 88.25 149  9/32 1.3012
Resistance 1 1723.1 3255.7 87.58 148 29/32 1.2979
Pivot 1718.5 3237.3 86.75 148 19/32 1.2954
Support 1 1709.4 3205.2 86.08 148  7/32 1.2921
Support 2 1704.8 3186.8 85.25 147 29/32 1.2896
Support 3 1695.7 3154.7 84.58 147 17/32 1.2863
Contract Dec. Corn Dec. Wheat Jan. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 768.8 877.5 1578.25 496.47 51.05
Resistance 2 765.0 874.5 1574.00 493.23 50.88
Resistance 1 758.0 871.5 1567.00 488.77 50.65
Pivot 754.3 868.5 1562.75 485.53 50.48
Support 1 747.3 865.5 1555.8 481.1 50.3
Support 2 743.5 862.5 1551.50 477.83 50.08
Support 3 736.5 859.5 1544.50 473.37 49.85

 

5. Economic Reports

All times are Eastern time Zone (EST)

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

Date 3:52pm Currency Impact Detail Actual Forecast Previous Graph
Fri

Nov 2
 4:15am EUR
Spanish Manufacturing PMI
44.5
4:45am EUR
Italian Manufacturing PMI
45.9 45.7
5:00am EUR
Final Manufacturing PMI
45.3 45.3
8:30am USD
Non-Farm Employment Change
123K 114K
8:30am USD
Unemployment Rate
7.9% 7.8%
8:30am USD
Average Hourly Earnings m/m
0.2% 0.3%
10:00am USD
Factory Orders m/m
4.7% -5.2%
2:25pm USD
FOMC Member Williams 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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