{"id":4408,"date":"2012-10-24T12:11:10","date_gmt":"2012-10-24T20:11:10","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=4408"},"modified":"2014-09-15T03:59:33","modified_gmt":"2014-09-15T11:59:33","slug":"trading-levels-and-reports-for-october-25-2012","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/trading-levels-and-reports-for-october-25-2012\/","title":{"rendered":"Trading Levels and Reports for October 25, 2012"},"content":{"rendered":"

Jump to a section in this post:<\/span><\/p>\n

1. Market Commentary<\/a><\/strong>
\n2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index<\/a><\/strong>
\n3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds<\/a><\/strong>
\n4. Support and Resistance Levels – Corn, Wheat, Beans, Silver<\/a><\/strong>
\n5. Economic Reports for Thursday October 25, 2012<\/a><\/strong><\/p>\n

 <\/p>\n

Hello Traders,<\/strong><\/p>\n

\u00a0FOMC is behind us until Dec. 11-12 which is the next meeting. News summary below:<\/div>\n

 <\/p>\n

WASHINGTON (MarketWatch)\u00a0 The Federal Reserve on Wednesday continued to\u00a0express concern about the economy as it made no changes to its ultra-easy\u00a0policy stance.\u00a0In its statement, the Fed said that growth had been moderate. While consumer\u00a0spending had picked up, business spending had slowed. The Fed also said that\u00a0inflation had picked up somewhat, due to higher energy prices.Read full FOMC\u00a0statement.\u00a0The Fed decision maintains its third-round of asset purchases, known as\u00a0quantitative easing or QE3, unveiled in September, that consists of $40 billion\u00a0of mortgage-backed securities. The Fed is also buying $45 billion of Treasurys\u00a0offset by sales of shorter-term securities under its Operation Twist program\u00a0launched in September 2011.\u00a0The Fed believes these purchases put downward pressure on longer-term interest\u00a0rates and ease financial conditions to support growth.\u00a0Stocks rallied in the wake of the Sept. 13 Fed move, with the Dow industrials\u00a0surging 206 points, or 1.6% that day. But from the Sept. 12 close through\u00a0Tuesdays finish, the Dow had retreated 230.83 points, or 1.7%.\u00a0In its statement, the Fed did not change the open-ended nature of the MBS\u00a0purchases, repeating that they would continue until the labor market outlook\u00a0improved substantially. \u00a0The Labor Department reported earlier this month that the unemployment rate\u00a0dropped to 7.8% in October, the lowest rate since 2009. But the Fed indicated\u00a0that is not enough.\u00a0In its statement, the Fed said that growth in employment has been slow and the\u00a0unemployment rate remains elevated.\u00a0The Fed also repeated that it expects to keep short-term interest rates\u00a0unchanged until mid-2015. The Fed kept its key new language, adopted in\u00a0September, to hold rates near zero even after the recovery strengthens.\u00a0\u00a0On balance, the economy appears to be stuck in a slow gear.\u00a0Economists surveyed by MarketWatch estimate the U.S. expanded at a 1.6% clip in\u00a0the third quarter, somewhat faster than the 1.3% pace in the prior three-month\u00a0period, but still not strong enough to generate a large amount of new jobs.\u00a0\u00a0The initial estimate of growth in the July-September quarter will be released\u00a0Friday.\u00a0\u00a0The vote of the Feds interest-rate setting committee on Wednesday was 11 to\u00a01. A rotating set of 12 of the 19 Fed officials vote on rate policy. The\u00a0dissenter was Richmond Fed President Jeffrey Lacker, who has dissented at every\u00a0meeting this year. Lacker said he disagreed with the asset purchases and the\u00a0mid-2015 calendar date for the first rate hike.\u00a0Economists had expected a vanilla statement after the big changes in September\u00a0and with the presidential elections less than two weeks away.\u00a0Behind closed doors\u00a0Behind closed doors, two issues likely dominated the discussion, economists\u00a0said.\u00a0The first is what the Fed will do when it Twist program expires at the end of\u00a0the year.\u00a0\u00a0Several Fed officials have spoken in favor of the new bond-buying to hold\u00a0purchases at the $85 billion monthly rate when Operation Twist ends. Many\u00a0economists think the Fed will announce such a program on December 12 after its\u00a0next two-day meeting.\u00a0But others said the Fed will take its cues from whether, or how, Congress and\u00a0the White House address the fiscal cliff, the combination of tax hikes and\u00a0spending cuts now scheduled to hit the economy at the start of the year.\u00a0The second question is whether the Fed will rework its forward guidance to\u00a0adopt numerical targets for inflation and unemployment and abandon its calendar\u00a0date.\u00a0This would work something along the lines of a plan advocated by Charles Evans,\u00a0the president of the Chicago Fed, who wants the Fed to tell the market that it\u00a0would keep interest rates near zero, as long as unemployment remains above 7%,\u00a0and as long as inflation does not threaten to rise above 3%.\u00a0The first step towards numerical targets will be a consensus forecast of the 12\u00a0voters on the Feds interest-rate setting panel. At the moment, the Fed\u00a0provides a summary of individual policymakers forecasts.\u00a0The Feds policy statement did not discuss refining the guidance.\u00a0Fed watchers will be watching speeches by the top Fed officials and waiting to\u00a0the minutes of the meeting to get a sense on how close the Fed is to changing\u00a0the language and adopting a consensus forecast. The minutes will be released on\u00a0November 15.\u00a0This is one of those meetings where the minutes will be more interesting\u00a0than the policy statement, said Lou Crandall, chief economist at Wrightson\u00a0ICAP.\u00a0\u00a0After the December meeting, the Fed will also release updated forecasts and\u00a0Federal Reserve Chairman Ben Bernanke will hold a press conference. Analysts\u00a0view the meeting with press conferences to be more likely to contain policyshifts, so that the chairman can elaborate on the reasons behind the moves.\u00a0(TS:DJIA;)<\/p>\n

As far as trading, what I wrote yesterday, still holds true today: 1391 is a major support level and how the market will react if we visit this level soon, will provide futures clues. This time I am sharing the daily chart for your review below:<\/div>\n
<\/div>\n
\u00a0\"mini<\/div>\n

 <\/p>\n

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Also please like us on Facebook<\/a>!!<\/h3>\n<\/div>\n
<\/div>\n

GOOD TRADING!<\/strong><\/p>\n

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.<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Contract Dec. 2012<\/td>\n\u00a0SP500 (big & Mini)<\/td>\nNasdaq100 (big & Mini)<\/td>\nDow Jones (big & Mini)<\/td>\nMini Russell<\/td>\nDollar Index<\/td>\n<\/tr>\n
Resistance 3<\/td>\n1424.40<\/td>\n2704.00<\/td>\n13150<\/td>\n827.17<\/td>\n496.80<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1419.50<\/td>\n2691.50<\/td>\n13119<\/td>\n822.83<\/td>\n490.70<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1411.50<\/td>\n2671.00<\/td>\n13067<\/td>\n817.27<\/td>\n486.30<\/td>\n<\/tr>\n
Pivot<\/td>\n1406.60<\/td>\n2658.50<\/td>\n13036<\/td>\n812.93<\/td>\n480.20<\/td>\n<\/tr>\n
Support 1<\/td>\n1398.60<\/td>\n2638.00<\/td>\n12984<\/td>\n807.37<\/td>\n475.80<\/td>\n<\/tr>\n
Support 2<\/td>\n1393.70<\/td>\n2625.50<\/td>\n12953<\/td>\n803.03<\/td>\n469.70<\/td>\n<\/tr>\n
Support 3<\/td>\n1385.70<\/td>\n2605.00<\/td>\n12901<\/td>\n797.47<\/td>\n465.30<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nDec Gold<\/td>\nDec. Silver<\/td>\nDec. Crude Oil<\/td>\nDec. Bonds<\/td>\nDec. Euro<\/td>\n<\/tr>\n
Resistance 3<\/td>\n1728.7<\/td>\n3255.2<\/td>\n89.68<\/td>\n148\u00a0\u00a05\/32<\/td>\n1.3085<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1722.0<\/td>\n3230.3<\/td>\n88.57<\/td>\n147 31\/32<\/td>\n1.3044<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1712.2<\/td>\n3203.2<\/td>\n87.15<\/td>\n147 19\/32<\/td>\n1.3008<\/td>\n<\/tr>\n
Pivot<\/td>\n1705.5<\/td>\n3178.3<\/td>\n86.04<\/td>\n147 13\/32<\/td>\n1.2967<\/td>\n<\/tr>\n
Support 1<\/td>\n1695.7<\/td>\n3151.2<\/td>\n84.62<\/td>\n147\u00a0\u00a01\/32<\/td>\n1.2931<\/td>\n<\/tr>\n
Support 2<\/td>\n1689.0<\/td>\n3126.3<\/td>\n83.51<\/td>\n146 27\/32<\/td>\n1.2890<\/td>\n<\/tr>\n
Support 3<\/td>\n1679.2<\/td>\n3099.2<\/td>\n82.09<\/td>\n146 15\/32<\/td>\n1.2854<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nDec. Corn<\/td>\nDec. Wheat<\/td>\nNov. Beans<\/td>\nDec. SoyMeal<\/td>\nDec. bean Oil<\/td>\n<\/tr>\n
Resistance 3<\/td>\n772.4<\/td>\n896.7<\/td>\n1585.00<\/td>\n496.80<\/td>\n52.37<\/td>\n<\/tr>\n
Resistance 2<\/td>\n767.8<\/td>\n893.3<\/td>\n1579.50<\/td>\n490.70<\/td>\n52.13<\/td>\n<\/tr>\n
Resistance 1<\/td>\n761.2<\/td>\n888.7<\/td>\n1575.00<\/td>\n486.30<\/td>\n51.99<\/td>\n<\/tr>\n
Pivot<\/td>\n756.6<\/td>\n885.3<\/td>\n1569.50<\/td>\n480.20<\/td>\n51.75<\/td>\n<\/tr>\n
Support 1<\/td>\n749.9<\/td>\n880.7<\/td>\n1565.0<\/td>\n475.8<\/td>\n51.6<\/td>\n<\/tr>\n
Support 2<\/td>\n745.3<\/td>\n877.3<\/td>\n1559.50<\/td>\n469.70<\/td>\n51.37<\/td>\n<\/tr>\n
Support 3<\/td>\n738.7<\/td>\n872.7<\/td>\n1555.00<\/td>\n465.30<\/td>\n51.23<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

5. Economic Reports<\/strong><\/h3>\n

All times are Eastern time Zone (EST)<\/a><\/h3>\n

source:http:\/\/www.forexfactory.com\/calendar.php<\/a><\/h3>\n
\n\n\n\n\n\n\n\n\n\n\n\n
Date<\/td>\n3:56pm<\/a><\/td>\nCurrency<\/td>\nImpact<\/td>\n<\/td>\nDetail<\/td>\nActual<\/td>\nForecast<\/td>\nPrevious<\/td>\nGraph<\/td>\n<\/tr>\n
Thu<\/p>\n
Oct 25<\/div>\n<\/td>\n
<\/a>\u00a04:00am<\/td>\nEUR<\/td>\n<\/td>\n\n
M3 Money Supply y\/y<\/div>\n<\/td>\n
<\/td>\n<\/td>\n3.0%<\/td>\n2.9%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n4:00am<\/td>\nEUR<\/td>\n<\/td>\n\n
Private Loans y\/y<\/div>\n<\/td>\n
<\/td>\n<\/td>\n-0.4%<\/td>\n-0.6%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nTentative<\/td>\nEUR<\/td>\n<\/td>\n\n
Italian Retail Sales m\/m<\/div>\n<\/td>\n
<\/td>\n<\/td>\n0.3%<\/td>\n-0.2%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n8:30am<\/td>\nUSD<\/td>\n<\/td>\n\n
Core Durable Goods Orders m\/m<\/div>\n<\/td>\n
<\/td>\n<\/td>\n0.8%<\/td>\n-1.6%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n8:30am<\/td>\nUSD<\/td>\n<\/td>\n\n
Unemployment Claims<\/div>\n<\/td>\n
<\/td>\n<\/td>\n371K<\/td>\n388K<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n8:30am<\/td>\nUSD<\/td>\n<\/td>\n\n
Durable Goods Orders m\/m<\/div>\n<\/td>\n
<\/td>\n<\/td>\n7.1%<\/td>\n-13.2%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n10:00am<\/td>\nUSD<\/td>\n<\/td>\n\n
Pending Home Sales m\/m<\/div>\n<\/td>\n
<\/td>\n<\/td>\n2.3%<\/td>\n-2.6%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n10:30am<\/td>\nUSD<\/td>\n<\/td>\n\n
Natural Gas Storage<\/div>\n<\/td>\n
<\/td>\n<\/td>\n66B<\/td>\n51B<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc<\/a>. 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<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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 25, 2012   Hello […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[133,63,268,144],"class_list":["post-4408","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","tag-future-brokers","tag-future-trading","tag-futures-trading-company","tag-futures-trading-levels"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/4408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=4408"}],"version-history":[{"count":5,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/4408\/revisions"}],"predecessor-version":[{"id":5226,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/4408\/revisions\/5226"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=4408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=4408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=4408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}