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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, August 28, 2007

Futures Trading levels and Economic reports for Aug.29th

 
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Dear Trader,
 

Today's sell off was a bit different from the ones we have seen in the last few weeks/ months. I think today was the first "orderly, smooth" sell off I have seen in a while. By that I mean that we did not see quick 10 points bounces and high volatility, just a gradual steady decline in prices.

 

What does that mean? maybe not much but on a longer term view, I think this suggests more room to the down side.

 
LEVELS:
 
Contract (SEPT. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1483.13 1975.33 13477 797.83
Resistance 2 1473.07 1960.67 13393 791.92
Resistance 1 1455.13 1934.33 13239 780.33
Pivot 1445.07 1919.67 13155 774.42
Support 1 1427.13 1893.33 13001 762.83
Support 2 1417.07 1878.67 12917 756.92
Support 3 1399.13 1852.33 12763 745.33
         
Contract  December Gold Sept. Euro Oct. Crude Oil Sept. Bonds 
Resistance 3 682.00 1.3752 73.14 112 11/32
Resistance 2 679.30 1.3721 72.64 112  3/32
Resistance 1 676.40 1.3671 72.19 111 27/32
Pivot 673.70 1.3640 71.69 111 19/32
Support 1 670.80 1.3590 71.24 111 11/32
Support 2 668.10 1.3559 70.74 111  3/32
Support 3 665.20 1.3509 70.29 110 27/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, August 29, 2007


Economic
10:30AM Crude Oil/Gasoline/Distillate Inventories
01:00PM Treasury 2-year Note Auction results
Events
MBA Mortgage Applications (7:00, last –5.5%). Trades Ex-split: NE 2:1. Trades Ex-dividend: ADI $0.18, ARRO $0.21, B $0.14, BLK $0.67, CHL $0.54, CBE $0.21, CR $0.18, CSX $0.15, D $0.20, TEG $0.66, MGA $0.36, MI $0.31, TIN $0.28, PGR $2, WM $0.396, WB $0.64, WHR $0.43.
Earnings
Before the Open: BIG BWS CYBX DAI DSLT ENER FRED JOYG LAYN WSM. After the Close: CHS CTRN CWTR FCEL GEF HEI JAS UEPS NOVL PSS SIGM TIVO.
 
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.
 

posted by Cannon Trading at 1:06 PM

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