Futures Trading levels and Economic reports for Sept. 5th
Market is in a weak posture. 3% sell off right before the monthly un-employment levels is usually not a good sign and a bearish number can send this market to test lows from July 15th ( ~1200 ). On the flip side, if we get a positive surprise in tomorrows reports, then the market can retrace large chunks of today's losses. Either way the technical picture of stock index futures does not look healthy.
Fibonacci Support levels if we continue lower are: 1231.50, 1225, 1217, 1205, 1200, 1190 and 1177.
Possible resistance levels are: 1247, 1263 and 1278
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1288.67 | 1859.67 | 11801 | 764.97 |
| Resistance 2 | 1278.33 | 1843.33 | 11678 | 754.23 |
| Resistance 1 | 1257.67 | 1810.67 | 11437 | 736.87 |
| Pivot | 1247.33 | 1794.33 | 11314 | 726.13 |
| Support 1 | 1226.67 | 1761.67 | 11073 | 708.77 |
| Support 2 | 1216.33 | 1745.33 | 10950 | 698.03 |
| Support 3 | 1195.67 | 1712.67 | 10709 | 680.67 |
| Contract | Dec Gold | Sept. Euro | Oct. Crude Oil | Sept. Bonds |
| Resistance 3 | 835.57 | 1.6682 | 113.98 | 120 20/32 |
| Resistance 2 | 827.53 | 1.5600 | 112.29 | 119 30/32 |
| Resistance 1 | 814.17 | 1.5480 | 109.90 | 119 18/32 |
| Pivot | 806.13 | 1.5380 | 108.21 | 118 29/32 |
| Support 1 | 792.77 | 1.5305 | 105.82 | 118 17/32 |
| Support 2 | 784.73 | 1.5209 | 104.13 | 117 27/32 |
| Support 3 | 771.37 | 1.5992 | 101.74 | 117 15/32 |
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 9/5 | 7:30 | AUG | Change in Nonfarm Payrolls | - - | - - | - - | -51k |
| FRI | 7:30 | AUG | Unemployment Rate | - - | - - | - - | 5.70% |
| | 7:30 | AUG | Change in Manufact. Payrolls | - - | - - | - - | -35K |
| | 7:30 | AUG | Average Hourly Earnings MoM | - - | - - | - - | 0.30% |
| | 7:30 | AUG | Average Hourly Earnings YoY | - - | - - | - - | 3.40% |
| | 7:30 | AUG | Average Weekly Hours | - - | - - | - - | 33.6 |
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
posted by Cannon Trading at 1:06 PM
0 Comments:
Post a Comment
<< Home