Cannon Trading Co. Inc.
We believe. The next frontier in futures trading.
Since 1988

Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, July 15, 2008

Futures Trading levels and Economic reports for July 16th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Below you will see a daily chart of the mini SP with the popular far east study called "Imoku - Ichimokukinkouhyou" , which traders in Japan and other Asian countries like to use.
 
As you can see the market entered its bear trend as of June 9th when we entered the "bearish cloud" (red cloud) and since then all rallies have been capped by line 1 (purple, middle line) which is Imoku:1  SimpleMovingAverage ( 'Input':HHi+LLow/2, Period:9, Offset:0 )
 
What does all this mean? is that currently 1239 will function as main resistance as the market continues to work its way down.
 
 
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1266.97 1902.67 11390 702.90
Resistance 2 1251.23 1867.33 11251 688.70
Resistance 1 1232.47 1835.67 11090 674.60
Pivot 1216.73 1800.33 10951 660.40
Support 1 1197.97 1768.67 10790 646.30
Support 2 1182.23 1733.33 10651 632.10
Support 3 1163.47 1701.67 10490 618.00
         
Contract  August Gold Sept. Euro August Crude Oil Sept. Bonds 
Resistance 3 1008.47 1.5120 155.70 118 10/32
Resistance 2 999.03 1.5600 151.22 117 30/32
Resistance 1 987.57 1.5480 144.89 117 16/32
Pivot 978.13 1.5380 140.41 117  4/32
Support 1 966.67 1.5305 134.08 116 22/32
Support 2 957.23 1.5209 129.60 116 10/32
Support 3 945.77 1.4598 123.27 115 28/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

7/16

6:00

11-Jul

MBA Mortgage Applications

- -

- -

- -

7.50%

WED

6:00

JUL

Bloomberg Global Confidence

- -

- -

- -

21.01

 

7:30

JUN

Consumer Price Index (MoM)

- -

0.70%

+.5% - +1.1%

0.60%

 

7:30

JUN

CPI Ex Food & Energy (MoM)

- -

0.20%

+.2% - +.2%

0.20%

 

7:30

JUN

Consumer Price Index (YoY)

- -

4.40%

- -

4.20%

 

7:30

JUN

CPI Ex Food & Energy (YoY)

- -

2.30%

- -

2.30%

 

7:30

JUN

CPI Core Index SA

- -

- -

- -

214.832

 

7:30

JUN

Consumer Price Index NSA

- -

217.9

- -

216.632

 

8:00

MAY

Net Long-term TIC Flows

- -

- -

- -

$115.1B

 

8:00

MAY

Total Net TIC Flows

- -

- -

- -

$60.6B

 

8:15

JUN

Industrial Production

- -

-0.10%

-.3% - +.5%

-0.20%

 

8:15

JUN

Capacity Utilization

- -

79.40%

79.1% - 79.7%

79.40%

 

12:00

JUL

NAHB Housing Market Index

- -

18

18 -19

18

 

13:00

16-Jul

Minutes of June 24-25 FOMC Meeting

 

 

 

 

 

13:00

 

Kansas City Fed Pres Hoeing speaks on the economic outlook and monetary policy

 

 

 

 

 
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 1:35 PM

0 Comments:

Post a Comment

<< Home