Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
I am out of words....I have been a commodity broker since 1998 and can not recall another trading day as volatile as today.
Huge volume, fast moves, large swings in short period of times......
Preservation of capital should be top priority during these times. Use hard stops and learn to limit your losses.
"Survive to trade another day"!
LEVELS:
| Contract (Sept 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1511.33 | 2012.67 | 13760 | 804.33 |
| Resistance 2 | 1493.17 | 1987.33 | 13597 | 794.67 |
| Resistance 1 | 1481.33 | 1973.67 | 13500 | 787.83 |
| Pivot | 1463.17 | 1948.33 | 13337 | 778.17 |
| Support 1 | 1451.33 | 1934.67 | 13240 | 771.33 |
| Support 2 | 1433.17 | 1909.33 | 13077 | 761.67 |
| Support 3 | 1421.33 | 1895.67 | 12980 | 754.83 |
| | | | | |
| Contract | Dec Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 686.97 | 1.3800 | 62.45 | 110 26/32 |
| Resistance 2 | 682.83 | 1.3766 | 61.25 | 110 19/32 |
| Resistance 1 | 679.37 | 1.3727 | 60.60 | 110 10/32 |
| Pivot | 675.23 | 1.3693 | 60.00 | 110 3/32 |
| Support 1 | 671.77 | 1.3654 | 59.20 | 109 26/32 |
| Support 2 | 667.63 | 1.3620 | 58.60 | 109 19/32 |
| Support 3 | 664.17 | 1.3581 | 57.90 | 109 10/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, August 02, 2007
Economic
07:00am Bank of England Rate decision
07:45am ECB Rate decision
08:30am Initial Jobless Claims (last 301K)
10:00am Jun Factory Orders (last –0.5)
10:30am Natural Gas Inventories
Events
Trades Ex-dividend: C $0.54, ETN $0.43, SO $0.403.
Earnings
Before the Open: EYE AGYS ATG AMRI ATK AMT ANPI ANSS AIV ARQL AACC AIZ RATE B BNT BLT BCO CNQ CNP CTL CHTR CKP CTEC CBB CLX ED CVS DNR DSX EK ECIL EDO ENTG ENZN EXPE FAF GET GIL GLBL GTI GMCR HAE HPY HTZ HOS HYC IPCC IP ITG KBR LEA LCUT MAC CLI MDTH MGM MORN BABY NSR NI NOK NRG NUS NYX OMG OCR OPXT ORCH OSCI PTRY PTEN PDGI PDC PPL PDE QCCO PWR RRI RSTI RDC SRE HOT SFY SMA SYPR TLM TE TWGP USPH ULBI VRX VNDA VSE VIA.B VSH WPI WST WLK WMB WWE WPL. During Trading Hours: DIOD. After the Close: ATVI ABCO ALKS AW ASYT ADBL BBND BKHM BRS BUCY CAB CPE CAPA CBOU CBEY CBL CTLM CEM CHK CQB CSTR CVLT DVA TRAK EVC ERES GFIG IDSY IMMR IBI IN ITMN SWIM JSDA LPSN LOOK MOH MOVE MFLX NFG NATL NEM NUVO ORH OPWV OEH PEET PYX PL PSA SLXP SBAC SGMS SIMG SM SXE SRT SUPG SPSX TWLL TSRA TBL USTR UEIC UHCO VOLC WLT WCG.
Note all time are EST. ANY AND ALL TIMES AND DATES ARE SUBJECT TO CHANGE WITHOUT NOTICE. INFORMATION HAS BEEN TAKEN FROM SOURCES DEEMED TO BE RELIABLE, BUT NO ASSURANCES CAN BE MADE TO THE ACCURACY OF ANY OF THIS INFORMATION.
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!
Sincerely,
Ilan Levy-Mayer, M.B.A
Vice President / commodity broker
Cannon Trading Co Inc. - home of online futures trading
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannontrading.com
Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #614
Beverly Hills, Ca 90210
* Important Please Note:
IMPORTANT PLEASE NOTE: TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS. THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS. THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
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