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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, July 08, 2008

Futures Trading levels and Economic reports for July 9th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Market finally bounced a bit after a good few days of finishing in red.
 
In the big picture this bounce does not mean much unless we can go above 1293 which is the next resistance level and even then, the picture is still bearish overall.
 
I think one thing daytraders should realize is that usually when the enviroment becomes bearish, the day-trading ranges are wider and volatility is higher so don't take the approach of "let me wait just a few seconds and see what happens..."as it may cost you more money than you think.
 
 
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1317.17 1940.00 11775 726.03
Resistance 2 1296.33 1908.00 11577 704.07
Resistance 1 1285.67 1891.00 11477 693.03
Pivot 1264.83 1859.00 11279 671.07
Support 1 1254.17 1842.00 11179 660.03
Support 2 1233.33 1810.00 10981 638.07
Support 3 1222.67 1793.00 10881 627.03
         
Contract  August Gold Sept. Euro August Crude Oil Sept. Bonds 
Resistance 3 956.43 1.5286 147.81 117 31/32
Resistance 2 945.87 1.5600 145.13 117 15/32
Resistance 1 934.13 1.5480 140.51 117  4/32
Pivot 923.57 1.5380 137.83 116 20/32
Support 1 911.83 1.5305 133.21 116  9/32
Support 2 901.27 1.5209 130.53 115 25/32
Support 3 889.53 1.4968 125.91 115 14/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

7/9

6:00

4-Jul

MBA Mortgage Applications

- -

- -

- -

- -

WED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Note all time are CST. 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 #515
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 1:04 PM

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