Trading Levels and Reports for October 10, 2012

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.

Mini ES S&P Daily Chart 0ct 10th

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
4:30pm USD
FOMC Member Tarullo Speaks
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

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