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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, July 16, 2008

Futures Trading levels and Economic reports for July 17th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
I was expecting a bounce anytime and it came. A bit stronger than I thought, as I saw 1239 as major resistance level. Key question is how much longer and how much higher if at all the short covering rally will go?
 
 
A break above 1268 and this may be more than just a short covering rally. Market action over the next couple of days will let us know.....
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1289.67 1926.67 11723 726.33
Resistance 2 1267.83 1888.83 11477 706.57
Resistance 1 1255.17 1865.67 11342 695.53
Pivot 1233.33 1827.83 11096 675.77
Support 1 1220.67 1804.67 10961 664.73
Support 2 1198.83 1766.83 10715 644.97
Support 3 1186.17 1743.67 10580 633.93
         
Contract  August Gold Sept. Euro August Crude Oil Sept. Bonds 
Resistance 3 999.83 1.5162 145.62 118 18/32
Resistance 2 991.17 1.5600 142.46 117 28/32
Resistance 1 975.53 1.5480 138.42 116 18/32
Pivot 966.87 1.5380 135.26 115 28/32
Support 1 951.23 1.5305 131.22 114 18/32
Support 2 942.57 1.5209 128.06 113 28/32
Support 3 926.93 1.4712 124.02 112 18/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

7/17

7:30

JUN

Housing Starts

- -

965K

- -

975K

THU

7:30

12-Jul

Initial Jobless Claims

- -

- -

- -

- -

 

7:30

JUN

Building Permits

- -

970K

- -

978K

 

7:30

5-Jul

Continuing Claims

- -

- -

- -

- -

 

9:00

JUL

Philadelphia Fed.

- -

-15.1

- -

-17.1

 

 

 

 

 

 

 

 

 
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 1:06 PM

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