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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, July 31, 2008

Futures Trading levels and Economic reports for August 1st

 
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Dear Trader,
 
Yu-Yu market the last few sessions....up 20 points, down 20 points.
 
Big reports tomorrow may give us a better idea of which direction this market is heading to.
 
Have a great trading month in August!
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1299.47 1921.67 11782 734.73
Resistance 2 1292.23 1900.33 11691 728.17
Resistance 1 1279.47 1876.67 11522 721.43
Pivot 1272.23 1855.33 11431 714.87
Support 1 1259.47 1831.67 11262 708.13
Support 2 1252.23 1810.33 11171 701.57
Support 3 1239.47 1786.67 11002 694.83
         
Contract  Dec Gold Sept. Euro Sept. Crude Oil Sept. Bonds 
Resistance 3 951.77 1.5357 132.30 117 24/32
Resistance 2 943.13 1.5600 130.10 116 27/32
Resistance 1 932.57 1.5480 127.12 116 11/32
Pivot 923.93 1.5380 124.92 115 15/32
Support 1 913.37 1.5305 121.94 114 31/32
Support 2 904.73 1.5209 119.74 114  2/32
Support 3 894.17 1.4964 116.76 113 18/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

8/1

 

JUL

Total Vehicle Sales

- -

- -

- -

13.6M

FRI

7:30

JUL

Change in Nonfarm Payrolls

- -

- -

- -

-62k

 

7:30

JUL

Unemployment Rate

- -

- -

- -

5.50%

 

7:30

JUL

Change in Manufact. Payrolls

- -

- -

- -

-33K

 

7:30

JUL

Average Hourly Earnings MoM

- -

- -

- -

0.30%

 

7:30

JUL

Average Hourly Earnings YoY

- -

- -

- -

3.40%

 

7:30

JUL

Average Weekly Hours

- -

- -

- -

33.7

 

8:00

MAY

RPX Composite 28dy Index

- -

- -

- -

234.41

 

8:00

MAY

RPX Composite 28dy YoY

- -

- -

- -

-14.67%

 

9:00

JUL

ISM Manufacturing

- -

- -

- -

50.2

 

9:00

JUN

Construction Spending MoM

- -

- -

- -

-0.40%

 

9:00

JUL

ISM Prices Paid

- -

- -

- -

91.5

 

 

 

 

 

 

 

 

 
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 1:16 PM 0 comments

Wednesday, July 30, 2008

Futures Trading levels and Economic reports for July 31st

 
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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