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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, July 30, 2008

Futures Trading levels and Economic reports for July 31st

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
From todays action it looks like the market is looking for a strong GDP number early morning. That can work in a few different ways...the number tomorrow has to beat expectations in order for the market to continue higher. If the number comes as expected or below, we may actually see a pull back in prices as current prices already discount a positive report. Will wait and see!
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1313.00 1910.67 11885 739.13
Resistance 2 1299.00 1888.33 11734 730.77
Resistance 1 1292.00 1872.17 11660 724.33
Pivot 1278.00 1849.83 11509 715.97
Support 1 1271.00 1833.67 11435 709.53
Support 2 1257.00 1811.33 11284 701.17
Support 3 1250.00 1795.17 11210 694.73
         
Contract  Dec Gold Sept. Euro Sept. Crude Oil Sept. Bonds 
Resistance 3 945.63 1.5369 135.78 116 24/32
Resistance 2 932.37 1.5600 131.59 116  1/32
Resistance 1 919.83 1.5480 129.19 115 13/32
Pivot 906.57 1.5380 125.00 114 22/32
Support 1 894.03 1.5305 122.60 114  1/32
Support 2 880.77 1.5209 118.41 113 10/32
Support 3 868.23 1.5087 116.01 112 22/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

7/31

7:30

2Q A

GDP QoQ (Annualized)

- -

- -

- -

1.00%

THU

7:30

2Q A

Personal Consumption

- -

- -

- -

1.10%

 

7:30

2Q A

GDP Price Index

- -

- -

- -

2.70%

 

7:30

2Q A

Core PCE QoQ

- -

- -

- -

2.30%

 

7:30

2Q

Employment Cost Index

- -

- -

- -

0.70%

 

7:30

26-Jul

Initial Jobless Claims

- -

- -

- -

- -

 

7:30

19-Jul

Continuing Claims

- -

- -

- -

- -

 

8:45

JUL

Chicago Purchasing Manager

- -

- -

- -

49.6

 

9:00

JUL

NAPM-Milwaukee

- -

- -

- -

39

 

23:00

JUL

Domestic Vehicle Sales

- -

- -

- -

9.9M

 

 

 

 

 

 

 

 

 
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 1:15 PM

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