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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, July 10, 2008

Futures Trading levels and Economic reports for July 11th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
I am tempted to say that todays action may signal a short term bottom as we held the 1236 low and traded large volume (more than 3 million on the mini SP), BUT with recent volatility and the bearish sentiment in the air I have a feeling we still have more room to the downside.
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1284.50 1905.83 11489 692.93
Resistance 2 1271.50 1879.42 11375 684.47
Resistance 1 1263.00 1861.83 11302 677.73
Pivot 1250.00 1835.42 11188 669.27
Support 1 1241.50 1817.83 11115 662.53
Support 2 1228.50 1791.42 11001 654.07
Support 3 1220.00 1773.83 10928 647.33
         
Contract  August Gold Sept. Euro August Crude Oil Sept. Bonds 
Resistance 3 979.20 1.5233 150.65 118 13/32
Resistance 2 964.20 1.5600 146.37 117 31/32
Resistance 1 956.40 1.5480 143.98 117 21/32
Pivot 941.40 1.5380 139.70 117  7/32
Support 1 933.60 1.5305 137.31 116 28/32
Support 2 918.60 1.5209 133.03 116 14/32
Support 3 910.80 1.4900 130.64 116  4/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

7/11

7:30

MAY

Trade Balance

- -

- -

- -

-$60.9B

FRI

7:30

JUN

Import Price Index (MoM)

- -

- -

- -

2.30%

 

7:30

JUN

Import Price Index (YoY)

- -

- -

- -

17.80%

 

9:00

JUL P

U. of Michigan Confidence

- -

- -

- -

56.4

 

13:00

JUN

Monthly Budget Statement

- -

- -

- -

- -

 
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 1:27 PM

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