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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, July 24, 2008

Futures Trading levels and Economic reports for July 25th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Trading action has been quite interesting this week, to say the least.  Market reacted with a sharp bounce in response to some of the FEDs actions with financial stocks and the housing bill but gave up quite a bit today.
 
In my opinion, this market is still bearish but the FED was able to do what it wanted and that it is to put a bit more fear into the bears.
 
May see a wide range of between 1238 to 1284 for a while but if we break below 1238 then the next objective is 1177.
 
LEVELS:
 

Contract (Sept. 2008)

SP500 (big & Mini)

Nasdaq100 (big & Mini)

Dow Jones (big & Mini)

Mini Russell

Resistance 3

1305.57

1886.00

11833

740.27

Resistance 2

1294.53

1872.00

11732

731.53

Resistance 1

1273.27

1845.50

11533

717.77

Pivot

1262.23

1831.50

11432

709.03

Support 1

1240.97

1805.00

11233

695.27

Support 2

1229.93

1791.00

11132

686.53

Support 3

1208.67

1764.50

10933

672.77

Contract

August Gold

Sept. Euro

Sept. Crude Oil

Sept. Bonds

Resistance 3

949.40

1.5262

129.61

117

Resistance 2

940.40

1.5600

128.03

116 3/32

Resistance 1

933.90

1.5480

126.69

115 17/32

Pivot

924.90

1.5380

125.11

114 20/32

Support 1

918.40

1.5305

123.77

114 2/32

Support 2

909.40

1.5209

122.19

113 5/32

Support 3

902.90

1.5001

120.85

112 19/32

 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

/25

7:30

JUN

Durable Goods Orders

- -

- -

- -

0.00%

FRI

7:30

JUN

Durables Ex Transportation

- -

- -

- -

-0.90%

 

9:00

JUL F

U. of Michigan Confidence

- -

- -

- -

- -

 

9:00

JUN

New Home Sales

- -

- -

- -

512K

 

9:00

JUN

New Home Sales MoM

- -

- -

- -

-2.50%

 

 

 

 

 

 

 

 

 
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 1:14 PM

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