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 29, 2008

Futures Trading levels and Economic reports for July 30th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Todays rally was a bit of a surprise to me as I was not expecting the strength we had today.
 
Todays high comes right around the 50% Fibonacci retracement level from the high made July 23rd at 1291.25 and the low made yesterday at 1233.
1261-1263 key pivotal are. 1269 is near term resistance, 1255 near support.
 
In general still seems that we are in a wide range of 1200 to 1292 and a breal above or below can send us into new range. In between expect continued volatility as we have seen the last two days.
 
 
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1296.87 1904.67 11745 742.87
Resistance 2 1279.93 1880.33 11562 729.43
Resistance 1 1271.37 1863.67 11467 721.67
Pivot 1254.43 1839.33 11284 708.23
Support 1 1245.87 1822.67 11189 700.47
Support 2 1228.93 1798.33 11006 687.03
Support 3 1220.37 1781.67 10911 679.27
         
Contract  August Gold Sept. Euro Sept. Crude Oil Sept. Bonds 
Resistance 3 949.87 1.5446 130.42 116  6/32
Resistance 2 941.43 1.5600 128.13 115 23/32
Resistance 1 929.97 1.5480 124.99 115  6/32
Pivot 921.53 1.5380 122.70 114 23/32
Support 1 910.07 1.5305 119.56 114  6/32
Support 2 901.63 1.5209 117.27 113 23/32
Support 3 890.17 1.4837 114.13 113  6/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

7/30

6:00

25-Jul

MBA Mortgage Applications

- -

- -

- -

- -

WED

7:15

JUL

ADP Employment Change

- -

- -

- -

-79K

 
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 1:16 PM

0 Comments:

Post a Comment

<< Home