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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, September 02, 2008

Futures Trading levels and Economic reports for Sept. 3rd

 
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Dear Trader,
 
If the first trading day of September is any indication for the rest of the month than we better be ready for a wild ride!
 
Big sell off in crude oil and energy complex along with a strong dollar and strong sell off in metals helped the stock market gap higher and visit the 1300 area for a bit. However a soft ISM number sent the market down to give up all gains and finish the day negative, which is quite a bearish sign usually. Time will tell.
 
Have a great trading month ahead!
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1327.70 1967.33 12042 778.23
Resistance 2 1315.60 1941.17 11918 767.07
Resistance 1 1295.80 1896.33 11715 752.93
Pivot 1283.70 1870.17 11591 741.77
Support 1 1263.90 1825.33 11388 727.63
Support 2 1251.80 1799.17 11264 716.47
Support 3 1232.00 1754.33 11061 702.33
         
Contract  Dec Gold Sept. Euro Oct. Crude Oil Sept. Bonds 
Resistance 3 853.97 1.6436 118.69 120 18/32
Resistance 2 839.43 1.5600 115.09 119 14/32
Resistance 1 824.27 1.5480 112.65 118 26/32
Pivot 809.73 1.5380 109.05 117 22/32
Support 1 794.57 1.5305 106.61 117  2/32
Support 2 780.03 1.5209 103.01 115 30/32
Support 3 764.87 1.6040 100.57 115 10/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

9/3

 

AUG

Total Vehicle Sales

- -

- -

- -

12.5M

WED

6:00

29-Aug

MBA Mortgage Applications

- -

- -

- -

- -

 

6:30

AUG

Challenger Job Cuts YoY

- -

- -

- -

140.80%

 

9:00

JUL

Factory Orders

- -

- -

- -

1.70%

 

13:00

3-Sep

Fed's Beige Book

- -

 

 

 

 

SEP

2Q

Mortgage Delinquencies

 

- -

- -

6.35%

 

 

 

 

 

 

 

 

 
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 1:19 PM

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