Trading Levels and Reports for November 28, 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 Wednesday November 28, 2012
Hello Traders,
Little more volume today in stock index futures along with bit wider ranges.
Below is a daily chart of the mini SP. So far it looks to me like we are still in a range. I would look to buy on short term basis around 1385 and be a seller around 1405.
Be aware of the market environment you are in. Last few days we have witnessed “holiday type trading”, with lower volume, slower market and counter trend moves intraday. Just being aware of this can help you while day-trading.
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 | 1417.25 | 2676.75 | 13020 | 817.70 | 444.53 |
| Resistance 2 | 1412.50 | 2667.75 | 12985 | 815.00 | 439.47 |
| Resistance 1 | 1405.00 | 2654.50 | 12920 | 811.00 | 436.43 |
| Pivot | 1400.25 | 2645.50 | 12885 | 808.30 | 431.37 |
| Support 1 | 1392.75 | 2632.25 | 12820 | 804.30 | 428.33 |
| Support 2 | 1388.00 | 2623.25 | 12785 | 801.60 | 423.27 |
| Support 3 | 1380.50 | 2610.00 | 12720 | 797.60 | 420.23 |
| Contract | Dec Gold | Dec. Silver | Jan. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1760.4 | 3458.5 | 89.47 | 151 31/32 | 1.3088 |
| Resistance 2 | 1756.1 | 3443.0 | 88.86 | 151 17/32 | 1.3050 |
| Resistance 1 | 1748.9 | 3422.0 | 88.05 | 151 7/32 | 1.2993 |
| Pivot | 1744.6 | 3406.5 | 87.44 | 150 25/32 | 1.2955 |
| Support 1 | 1737.4 | 3385.5 | 86.63 | 150 15/32 | 1.2898 |
| Support 2 | 1733.1 | 3370.0 | 86.02 | 150 1/32 | 1.2860 |
| Support 3 | 1725.9 | 3349.0 | 85.21 | 149 23/32 | 1.2803 |
| Contract | March Corn | March Wheat | Jan. Beans | Jan. Soy Meal | Jan. bean Oil |
| Resistance 3 | 778.4 | 873.0 | 1466.83 | 444.53 | 50.85 |
| Resistance 2 | 771.3 | 873.0 | 1458.42 | 439.47 | 50.65 |
| Resistance 1 | 767.7 | 873.0 | 1453.83 | 436.43 | 50.53 |
| Pivot | 760.6 | 873.0 | 1445.42 | 431.37 | 50.33 |
| Support 1 | 756.9 | 873.0 | 1440.8 | 428.3 | 50.2 |
| Support 2 | 749.8 | 873.0 | 1432.42 | 423.27 | 50.01 |
| Support 3 | 746.2 | 873.0 | 1427.83 | 420.23 | 49.89 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:11pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Wed
Nov 28
|
All Day | EUR |
German Prelim CPI m/m
|
-0.1% | 0.0% | ||||
| 4:00am | EUR |
M3 Money Supply y/y
|
2.8% | 2.7% | |||||
| 4:00am | EUR |
Private Loans y/y
|
-0.8% | -0.8% | |||||
| 10:00am | USD |
New Home Sales
|
387K | 389K | |||||
| 10:30am | USD |
Crude Oil Inventories
|
0.5M | -1.5M | |||||
| 12:15pm | USD |
FOMC Member Tarullo Speaks
|
|||||||
| 2:00pm | USD |
Beige Book
|
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 tradin
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