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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, August 25, 2008

Futures Trading levels and Economic reports for Aug. 26th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Sometimes a longer term outlook is helpful even though most of you are day-traders.
 
Below you will see the weekly chart of the SP 500 with possible bounce levels as well as possible levels if this market makes new lows.
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1300.37 1950.67 11833 755.77
Resistance 2 1292.83 1936.33 11730 747.13
Resistance 1 1279.57 1915.67 11562 734.17
Pivot 1272.03 1901.33 11459 725.53
Support 1 1258.77 1880.67 11291 712.57
Support 2 1251.23 1866.33 11188 703.93
Support 3 1237.97 1845.67 11020 690.97
         
Contract  Dec Gold Sept. Euro Oct. Crude Oil Sept. Bonds 
Resistance 3 843.03 1.6192 118.71 120 25/32
Resistance 2 837.47 1.5600 117.39 119 29/32
Resistance 1 832.23 1.5480 116.33 119 11/32
Pivot 826.67 1.5380 115.01 118 15/32
Support 1 821.43 1.5305 113.95 117 28/32
Support 2 815.87 1.5209 112.63 117     
Support 3 810.63 1.5856 111.57 116 14/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

8/26

8:00

JUN

S&P/CaseShiller Home Price Ind

- -

- -

- -

168.5

TUE

8:00

JUN

S&P/CS Composite-20 YoY

- -

-16.40%

- -

-15.80%

 

8:00

2Q

S&P/Case-Shiller US HPI

- -

- -

- -

159.2

 

8:00

2Q

S&P/Case-Shiller US HPI YOY%

- -

- -

- -

-14.10%

 

9:00

AUG

Consumer Confidence

- -

53

50 - 56

51.9

 

9:00

AUG

Richmond Fed Manufact. Index

- -

- -

- -

-16

 

9:00

JUL

New Home Sales

- -

525K

510K - 570K

530K

 

9:00

JUN

House Price Index MoM

- -

-0.90%

- -

-0.30%

 

9:00

JUL

New Home Sales MoM

- -

-0.90%

- -

-0.60%

 

9:00

2Q

House Price Purchase Index QoQ

- -

- -

- -

- -

 

13:00

26-Aug

Minutes of Aug. 5 FOMC Meeting

- -

 

 

 

 

16:00

24-Aug

ABC Consumer Confidence

 

- -

- -

-49

 

 

 

 

 

 

 

 

 
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 1:26 PM

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