Trading Levels and Reports for October 11, 2012 - Cannon Trading

Trading Levels and Reports for October 11, 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 Thursday October 11, 2012

 

Hello Traders,

Some mistakes newcomers and experienced day traders make (TRY TO AVOID…)

 

1. Over leveraging in day-trading

2. Inability to accept losses

3. Averaging down or up

4. Impatience

5.NOT using stops

6. NOT establishing daily profit target

 

I have quite a bit more in mind and will share in up coming emails with some details and examples.

 

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 1446.00 2763.67 13484 833.03 479.83
Resistance 2 1441.65 2753.33 13440 830.47 475.27
Resistance 1 1433.70 2736.67 13350 826.43 468.93
Pivot 1429.35 2726.33 13306 823.87 464.37
Support 1 1421.40 2709.67 13216 819.83 458.03
Support 2 1417.05 2699.33 13172 817.27 453.47
Support 3 1409.10 2682.67 13082 813.23 447.13
Contract Dec Gold Dec. Silver Nov. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1782.2 3471.3 95.71 150 26/32 1.3015
Resistance 2 1776.1 3445.2 94.69 149 27/32 1.2968
Resistance 1 1770.7 3426.8 93.07 149 12/32 1.2937
Pivot 1764.6 3400.7 92.05 148 13/32 1.2890
Support 1 1759.2 3382.3 90.43 147 30/32 1.2859
Support 2 1753.1 3356.2 89.41 146 31/32 1.2812
Support 3 1747.7 3337.8 87.79 146 16/32 1.2781
Contract Dec. Corn Dec. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 749.9 874.2 1556.83 479.83 51.57
Resistance 2 746.1 872.6 1548.42 475.27 51.37
Resistance 1 741.4 871.2 1535.83 468.93 51.00
Pivot 737.6 869.6 1527.42 464.37 50.80
Support 1 732.9 868.2 1514.8 458.0 50.4
Support 2 729.1 866.6 1506.42 453.47 50.23
Support 3 724.4 865.2 1493.83 447.13 49.86

 

5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:58pm Currency Impact Detail Actual Forecast Previous Graph
Thu

Oct 11
2:00am EUR
German Final CPI m/m
0.0% 0.0%
2:45am EUR
French CPI m/m
0.1% 0.7%
3:30am USD
FOMC Member Yellen Speaks
4:00am EUR
ECB Monthly Bulletin
8:30am USD
Trade Balance
-44.1B -42.0B
8:30am USD
Unemployment Claims
368K 367K
8:30am USD
Import Prices m/m
0.7% 0.7%
10:00am USD
FOMC Member Stein Speaks
10:30am USD
Natural Gas Storage
79B 77B
11:00am USD
Crude Oil Inventories
1.3M -0.5M
1:00pm USD
30-y Bond Auction
2.90|2.7
Day 1 ALL
IMF 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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