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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, August 27, 2008

Futures Trading levels and Economic reports for August 28th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Market penetrated the 1277 resistance level and backed from the next resistance level at 1285. Some what of a sluggish bounce that can either pick up steam or folds after tomorrow's early morning reports.  1291 is a level to watch in case we rally, 1262.50 important level if we pick up speed on the way down.
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1302.63 1950.17 11762 754.43
Resistance 2 1293.87 1933.33 11657 745.37
Resistance 1 1287.23 1916.67 11576 738.13
Pivot 1278.47 1899.83 11471 729.07
Support 1 1271.83 1883.17 11390 721.83
Support 2 1263.07 1866.33 11285 712.77
Support 3 1256.43 1849.67 11204 705.53
         
Contract  Dec Gold Sept. Euro Oct. Crude Oil Sept. Bonds 
Resistance 3 855.20 1.6288 124.08 120  5/32
Resistance 2 848.30 1.5600 121.86 119 17/32
Resistance 1 839.80 1.5480 120.09 119  6/32
Pivot 832.90 1.5380 117.87 118 17/32
Support 1 824.40 1.5305 116.10 118  6/32
Support 2 817.50 1.5209 113.88 117 18/32
Support 3 809.00 1.5850 112.11 117  7/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

8/28

7:30

2Q P

GDP QoQ (Annualized)

- -

2.80%

1.9% - +3.5%

1.90%

THU

7:30

2Q P

Personal Consumption

- -

- -

- -

1.50%

 

7:30

2Q P

GDP Price Index

- -

1.10%

+1% - +1.5%

1.10%

 

7:30

2Q P

Core PCE QoQ

- -

2.10%

- -

2.10%

 

7:30

23-Aug

Initial Jobless Claims

- -

- -

- -

432K

 

7:30

16-Aug

Continuing Claims

- -

- -

- -

3362K

 

7:30

JUL

Personal Income

- -

0.00%

- -

0.10%

 

7:30

JUL

Personal Spending

- -

0.20%

- -

0.60%

 

7:30

JUL

PCE Deflator (YoY)

- -

- -

- -

4.10%

 

7:30

JUL

PCE Core (MoM)

- -

0.30%

- -

0.30%

 

7:30

JUL

PCE Core (YoY)

- -

2.40%

- -

2.30%

 
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 1:12 PM

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