Trading Levels and Reports for October 18, 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 October 18, 2012
Hello Traders,
Many clients have asked me over the years: “what other markets do you like for day-trading?” and my answer includes markets like gold, us bonds and crude oil.
Crude Oil is one of these markets that can reward and/or punish day traders very quickly….It is a volatile market and if you are a trader that refuses to use stops….then this is defintely NOT your market for day-trading.
Crude Oil inventories come out weekly on Wednesdays at 9:30 Central time.
This report has a large impact on Crude Oil prices.
Below you will see an intra day chart from todays session reflecting price action during this report.
If you would like to have a trial of the above charting software OR simply get a second opinion on your trading needs and methods, please visit our trader’s profile.
On a different note, we are now in stock earnings season, which will affect stock index futures price action.
A good source to follow earning reports and release times is:
http://earnings.com/highlight.asp?client=cb
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 | 1468.83 | 2807.17 | 13562 | 853.57 | 462.70 |
| Resistance 2 | 1463.27 | 2792.83 | 13528 | 847.43 | 459.30 |
| Resistance 1 | 1459.63 | 2781.67 | 13507 | 843.37 | 457.00 |
| Pivot | 1454.07 | 2767.33 | 13473 | 837.23 | 453.60 |
| Support 1 | 1450.43 | 2756.17 | 13452 | 833.17 | 451.30 |
| Support 2 | 1444.87 | 2741.83 | 13418 | 827.03 | 447.90 |
| Support 3 | 1441.23 | 2730.67 | 13397 | 822.97 | 445.60 |
| Contract | Dec Gold | Dec. Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1766.4 | 3378.3 | 94.00 | 148 8/32 | 1.3212 |
| Resistance 2 | 1760.7 | 3354.2 | 93.42 | 147 28/32 | 1.3179 |
| Resistance 1 | 1755.4 | 3336.3 | 92.70 | 147 10/32 | 1.3155 |
| Pivot | 1749.7 | 3312.2 | 92.12 | 146 30/32 | 1.3122 |
| Support 1 | 1744.4 | 3294.3 | 91.40 | 146 12/32 | 1.3098 |
| Support 2 | 1738.7 | 3270.2 | 90.82 | 146 | 1.3065 |
| Support 3 | 1733.4 | 3252.3 | 90.10 | 145 14/32 | 1.3041 |
| Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 755.0 | 863.7 | 1529.67 | 462.70 | 51.51 |
| Resistance 2 | 750.5 | 860.1 | 1520.08 | 459.30 | 51.28 |
| Resistance 1 | 748.0 | 858.2 | 1514.67 | 457.00 | 51.16 |
| Pivot | 743.5 | 854.6 | 1505.08 | 453.60 | 50.93 |
| Support 1 | 741.0 | 852.7 | 1499.7 | 451.3 | 50.8 |
| Support 2 | 736.5 | 849.1 | 1490.08 | 447.90 | 50.58 |
| Support 3 | 734.0 | 847.2 | 1484.67 | 445.60 | 50.46 |
5. Economic Reports
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
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
