Trading Levels and Reports for October 24, 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 24, 2012
Hello Traders,
Stock Index futures living up for their “October reputation” with a small sell off over the last few days. While the overall up trend is still in tact, I think we may see an additional pullback first.
Regardless of the longer term picture ( weekly mini SP chart for your review below), as volatility increases, I recommend day-traders to DECREASE trading size in order to allow oneself a chance to stay in trades while volatility is higher.
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.
Due to technical difficulties, there will be no support and resistance levels today.
5. Economic Reports
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
| Date | 4:09pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Wed
Oct 24
|
3:00am | EUR |
French Flash Manufacturing PMI
|
43.9 | 42.7 | ||||
| 3:00am | EUR |
French Flash Services PMI
|
45.6 | 45.0 | |||||
| 3:30am | EUR |
German Flash Manufacturing PMI
|
48.1 | 47.4 | |||||
| 3:30am | EUR |
German Flash Services PMI
|
50.1 | 49.7 | |||||
| 4:00am | EUR |
German Ifo Business Climate
|
101.5 | 101.4 | |||||
| 4:00am | EUR |
Flash Manufacturing PMI
|
46.6 | 46.1 | |||||
| 4:00am | EUR |
Flash Services PMI
|
46.5 | 46.1 | |||||
| Tentative | EUR |
German 10-y Bond Auction
|
1.52|1.2 | ||||||
| 7:45am | EUR |
ECB President Draghi Speaks
|
|||||||
| 9:00am | USD |
Flash Manufacturing PMI
|
51.6 | 51.1 | |||||
| 10:00am | EUR |
ECB President Draghi Speaks
|
|||||||
| 10:00am | USD |
New Home Sales
|
386K | 373K | |||||
| 10:00am | USD |
HPI m/m
|
0.4% | 0.2% | |||||
| 10:30am | USD |
Crude Oil Inventories
|
2.0M | 2.9M | |||||
| 2:15pm | USD |
FOMC Statement
|
|||||||
| 2:15pm | USD |
Federal Funds Rate
|
<0.25% | <0.25% |
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
