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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, July 17, 2008

Futures Trading levels and Economic reports for July 18th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Another up day but as not as powerful as yesterdays. Tomorrow is options expiration day.
 
1261 is a KEY LEVEL ( on a closing basis). A close above 1261 may trigger another up leg. As long as we close below it, I still consider this as a short covering rally.
 
LEVELS:
 

Contract (Sept. 2008)

SP500 (big & Mini)

Nasdaq100 (big & Mini)

Dow Jones (big & Mini)

Mini Russell

Resistance 3

1287.67

1898.67

11768

714.00

Resistance 2

1275.33

1883.33

11605

705.70

Resistance 1

1265.67

1864.67

11503

698.90

Pivot

1253.33

1849.33

11340

690.60

Support 1

1243.67

1830.67

11238

683.80

Support 2

1231.33

1815.33

11075

675.50

Support 3

1221.67

1796.67

10973

668.70

Contract

August Gold

Sept. Euro

August Crude Oil

Sept. Bonds

Resistance 3

1000.27

1.5136

142.51

116 23/32

Resistance 2

990.13

1.5600

139.63

116 7/32

Resistance 1

973.37

1.5480

134.76

115 15/32

Pivot

963.23

1.5380

131.88

114 31/32

Support 1

946.47

1.5305

127.01

114 8/32

Support 2

936.33

1.5209

124.13

113 24/32

Support 3

919.57

1.4803

119.26

113

 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

 
 
NONE tomorrow
 
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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