Trading Levels and Reports for November 27, 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 Thursday November 22, 2012
Hello Traders,
Significant news last week regarding for traders of the E-Mini S&P 500 (ES), YM (Mini-sized Dow), NQ (E-Mini NASDAQ-100) and EMD (E-Mini S&P MidCap 400) –as of Sunday, November 18, 2012 the close of the CME Globex for electronically traded equity index futures contracts will change from 4:15 p.m. US/Eastern to 5:15 p.m. US/Eastern. Your broker will most likely cancel any orders you have that are not filled by 5:15 p.m. US/Eastern. This time change will affect your day trading starting Monday, November 19.
* There will be a 15-minute halt in electronic trading from 4:15 p.m. to 4:30 p.m. US/Eastern
* Trading for equity index contracts listed on CME Globex will resume at 4:30 p.m. US/Eastern for the same trade date for 45 minutes, closing at 5:15 p.m. US/Eastern. This includes Fridays, meaning that the end of the trading week on CME Globex also will be changed to 5:15 p.m. US/Eastern
* CME Globex trades that take place during the 4:30 p.m. – 5:15 p.m. US/Eastern time frame will be subject to the daily settlement prices calculated at 4:15 p.m. US/Eastern (i.e., settlement times will not change).
* Trading of equity index contracts on CME Globex will be closed from 5:15 p.m. – 6:00 p.m. US/Eastern.
* Trading re-opens at 6:00 p.m. US/Eastern on CME Globex (Sundays-Thursdays) for the new trade date.
These changes to CME Globex hours coincide with the implementation of daily price limits on equity index contracts (switching from quarterly price limits, pending regulatory review). Daily price limits will be applied each day starting at 6:00 p.m. US/Eastern. The changes are designed to harmonize CME products with the underlying markets at U.S. stock exchanges, which will adopt daily price limits on February 4, 2013, in accordance with updated market-wide circuit breaker rules.
* Trading re-opens at 6:00 p.m. US/Eastern on CME Globex (Sundays-Thursdays) for the new trade date.
* The Reference price for daily price limits for the next trade date will be calculated based on the 4:00 p.m. US/Eastern futures prices.
* The width of the equity index futures price limit band will be based on the underlying cash equity index.
* The daily limits will be published on the CME Group website prior to the CME Globex open at 6:00 p.m. US/Eastern.
* CME Globex trading hour changes are effective for both U.S. and international equity index futures and options.
Here is the official announcement from the CME
And a helpful table from the CME
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 | 1413.67 | 2680.58 | 12992 | 814.57 | 440.10 |
| Resistance 2 | 1408.58 | 2664.42 | 12958 | 810.63 | 436.90 |
| Resistance 1 | 1405.17 | 2655.33 | 12942 | 808.47 | 434.30 |
| Pivot | 1400.08 | 2639.17 | 12908 | 804.53 | 431.10 |
| Support 1 | 1396.67 | 2630.08 | 12892 | 802.37 | 428.50 |
| Support 2 | 1391.58 | 2613.92 | 12858 | 798.43 | 425.30 |
| Support 3 | 1388.17 | 2604.83 | 12842 | 796.27 | 422.70 |
| Contract | Dec Gold | Dec. Silver | Jan. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1758.5 | 3459.8 | 89.29 | 152 12/32 | 1.3032 |
| Resistance 2 | 1755.4 | 3441.2 | 88.79 | 151 25/32 | 1.3010 |
| Resistance 1 | 1752.2 | 3425.8 | 88.27 | 151 5/32 | 1.2991 |
| Pivot | 1749.1 | 3407.2 | 87.77 | 150 18/32 | 1.2969 |
| Support 1 | 1745.9 | 3391.8 | 87.25 | 149 30/32 | 1.2950 |
| Support 2 | 1742.8 | 3373.2 | 86.75 | 149 11/32 | 1.2928 |
| Support 3 | 1739.6 | 3357.8 | 86.23 | 148 23/32 | 1.2909 |
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 760.8 | 849.0 | 1442.17 | 440.10 | 50.47 |
| Resistance 2 | 758.4 | 849.0 | 1437.58 | 436.90 | 50.13 |
| Resistance 1 | 754.8 | 849.0 | 1431.17 | 434.30 | 49.86 |
| Pivot | 752.4 | 849.0 | 1426.58 | 431.10 | 49.52 |
| Support 1 | 748.8 | 849.0 | 1420.2 | 428.5 | 49.2 |
| Support 2 | 746.4 | 849.0 | 1415.58 | 425.30 | 48.91 |
| Support 3 | 742.8 | 849.0 | 1409.17 | 422.70 | 48.64 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:50pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Tue
Nov 27
|
2:00am | EUR |
German Import Prices m/m
|
-0.5% | -0.7% | ||||
| 6:30am | USD |
FOMC Member Lockhart Speaks
|
|||||||
| 8:30am | USD |
Core Durable Goods Orders m/m
|
-0.6% | 2.0% | |||||
| 8:30am | USD |
Durable Goods Orders m/m
|
-0.6% | 9.8% | |||||
| 8:30am | USD |
Fed Chairman Bernanke Speaks
|
|||||||
| 9:00am | USD |
S&P/CS Composite-20 HPI y/y
|
2.9% | 2.0% | |||||
| 10:00am | USD |
CB Consumer Confidence
|
73.1 | 72.2 | |||||
| 10:00am | USD |
HPI m/m
|
0.4% | 0.7% | |||||
| 10:00am | USD |
Richmond Manufacturing Index
|
-2 | -7 |
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
