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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, July 22, 2008

Futures Trading levels and Economic reports for July 23rd

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Seems that the Fed's actions the last few days gave the market an artificial support which helped bring it up so far. 1286 is a major resistance level and my pure speculation is that this may be as high as we go on this run up. Be interesting to see as I have been wrong many times before (-:
 
good trading!
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1316.27 1878.00 11946 752.07
Resistance 2 1297.13 1852.50 11774 734.63
Resistance 1 1286.97 1839.00 11680 725.87
Pivot 1267.83 1813.50 11508 708.43
Support 1 1257.67 1800.00 11414 699.67
Support 2 1238.53 1774.50 11242 682.23
Support 3 1228.37 1761.00 11148 673.47
         
Contract  August Gold Sept. Euro Sept. Crude Oil Sept. Bonds 
Resistance 3 1001.93 1.5237 138.51 116  4/32
Resistance 2 989.47 1.5600 135.70 115 19/32
Resistance 1 967.03 1.5480 131.98 114 27/32
Pivot 954.57 1.5380 129.17 114 10/32
Support 1 932.13 1.5305 125.45 113 17/32
Support 2 919.67 1.5209 122.64 113     
Support 3 897.23 1.4670 118.92 112  8/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

7/23

6:00

18-Jul

MBA Mortgage Applications

- -

- -

- -

- -

WED

13:00

23-Jul

Fed's Beige Book

 

 

 

 

 
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 1:03 PM

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