Trading Levels and Reports for November 29, 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 29, 2012
Hello Traders,
I wrote on yesterday’s blog:
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.
I wish I could be right like that every day…..
(-:
What’s next?
Here is an updated daily chart of the mini Russell 2000, which seems to be leading the indices group as of lately. The TF closed right against immediate resistance with the next band of resistance coming at 825-829 levels
GOOD TRADING!
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| Contract Dec. 2012 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1442.42 | 2735.33 | 13262 | 835.30 | 440.43 |
| Resistance 2 | 1425.58 | 2700.42 | 13113 | 824.20 | 438.57 |
| Resistance 1 | 1416.67 | 2681.33 | 13037 | 818.40 | 435.63 |
| Pivot | 1399.83 | 2646.42 | 12888 | 807.30 | 433.77 |
| Support 1 | 1390.92 | 2627.33 | 12812 | 801.50 | 430.83 |
| Support 2 | 1374.08 | 2592.42 | 12663 | 790.40 | 428.97 |
| Support 3 | 1365.17 | 2573.33 | 12587 | 784.60 | 426.03 |
| Contract | Dec Gold | Dec. Silver | Jan. Crude Oil | March Bonds | Dec. Euro |
| Resistance 3 | 1777.0 | 3533.0 | 89.55 | 153 12/32 | 1.3035 |
| Resistance 2 | 1760.0 | 3468.5 | 88.45 | 152 19/32 | 1.2991 |
| Resistance 1 | 1739.4 | 3419.0 | 87.57 | 151 6/32 | 1.2968 |
| Pivot | 1722.4 | 3354.5 | 86.47 | 150 13/32 | 1.2924 |
| Support 1 | 1701.8 | 3305.0 | 85.59 | 149 | 1.2901 |
| Support 2 | 1684.8 | 3240.5 | 84.49 | 148 7/32 | 1.2857 |
| Support 3 | 1664.2 | 3191.0 | 83.61 | 146 26/32 | 1.2834 |
| Contract | March Corn | March Wheat | Jan. Beans | Jan. SoyMeal | Jan. bean Oil |
| Resistance 3 | 773.7 | 902.5 | 1457.83 | 440.43 | 50.80 |
| Resistance 2 | 770.3 | 898.3 | 1454.42 | 438.57 | 50.61 |
| Resistance 1 | 767.2 | 894.8 | 1450.33 | 435.63 | 50.49 |
| Pivot | 763.8 | 890.5 | 1446.92 | 433.77 | 50.30 |
| Support 1 | 760.7 | 887.0 | 1442.8 | 430.8 | 50.2 |
| Support 2 | 757.3 | 882.8 | 1439.42 | 428.97 | 49.99 |
| Support 3 | 754.2 | 879.3 | 1435.33 | 426.03 | 49.87 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:08pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Thu
Nov 29
|
3:55am | EUR |
German Unemployment Change
|
15K | 20K | ||||
| 4:10am | EUR |
Retail PMI
|
45.3 | ||||||
| Tentative | EUR |
Italian 10-y Bond Auction
|
4.81|1.5 | ||||||
| 8:30am | USD |
Prelim GDP q/q
|
2.8% | 2.0% | |||||
| 8:30am | USD |
Unemployment Claims
|
392K | 410K | |||||
| 8:30am | USD |
Prelim GDP Price Index q/q
|
2.8% | 2.8% | |||||
| 9:00am | USD |
FOMC Member Dudley Speaks
|
|||||||
| 10:00am | USD |
Pending Home Sales m/m
|
0.9% | 0.3% | |||||
| 10:30am | USD |
Natural Gas Storage
|
-5B | -38B | |||||
| 11:20am | EUR |
German Buba President Weidmann 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
