Trading Levels and Reports for October 10, 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 October 10, 2012
Hello Traders,
Volume returned to the markets and sellers took control today pushing the market lower.
My color scheme on the chart below as well as the fact that I have divergence on my RAL study ( RAL going up YET price going down…) suggests that the market is gravitating towards the 1416 FIB level. Time will tell if I am right.
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 | 1460.90 | 2807.00 | 13598 | 850.63 | 484.63 |
| Resistance 2 | 1455.80 | 2790.50 | 13559 | 845.07 | 481.67 |
| Resistance 1 | 1446.40 | 2763.00 | 13488 | 834.93 | 476.33 |
| Pivot | 1441.30 | 2746.50 | 13449 | 829.37 | 473.37 |
| Support 1 | 1431.90 | 2719.00 | 13378 | 819.23 | 468.03 |
| Support 2 | 1426.80 | 2702.50 | 13339 | 813.67 | 465.07 |
| Support 3 | 1417.40 | 2675.00 | 13268 | 803.53 | 459.73 |
| Contract | Dec Gold | Dec. Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1797.5 | 3495.0 | 97.22 | 149 8/32 | 1.3102 |
| Resistance 2 | 1789.5 | 3460.5 | 95.07 | 148 27/32 | 1.3051 |
| Resistance 1 | 1777.9 | 3426.0 | 93.60 | 148 15/32 | 1.2966 |
| Pivot | 1769.9 | 3391.5 | 91.45 | 148 2/32 | 1.2915 |
| Support 1 | 1758.3 | 3357.0 | 89.98 | 147 22/32 | 1.2830 |
| Support 2 | 1750.3 | 3322.5 | 87.83 | 147 9/32 | 1.2779 |
| Support 3 | 1738.7 | 3288.0 | 86.36 | 146 29/32 | 1.2694 |
| Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 753.4 | 878.4 | 1584.00 | 484.63 | 52.47 |
| Resistance 2 | 750.8 | 875.6 | 1577.00 | 481.67 | 52.18 |
| Resistance 1 | 746.4 | 869.9 | 1563.50 | 476.33 | 51.72 |
| Pivot | 743.8 | 867.1 | 1556.50 | 473.37 | 51.43 |
| Support 1 | 739.4 | 861.4 | 1543.0 | 468.0 | 51.0 |
| Support 2 | 736.8 | 858.6 | 1536.00 | 465.07 | 50.68 |
| Support 3 | 732.4 | 852.9 | 1522.50 | 459.73 | 50.22 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:51pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Wed
Oct 10
|
2:00am | EUR |
German WPI m/m
|
0.4% | 1.1% | ||||
| 2:45am | EUR |
French Industrial Production m/m
|
-0.2% | 0.2% | |||||
| 4:00am | EUR |
Italian Industrial Production m/m
|
-0.5% | -0.2% | |||||
| 10:00am | USD |
Wholesale Inventories m/m
|
0.5% | 0.7% | |||||
| 1:00pm | USD |
10-y Bond Auction
|
1.76|2.9 | ||||||
| 2:00pm | USD |
Beige Book
|
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| 4:30pm | USD |
FOMC Member Tarullo Speaks
|
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| All Day | ALL |
G7 Meetings
|
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
