Cannon Trading Futures Blog: Daily Support and Resistance Levels
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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.
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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 | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 945.63 | 1.5369 | 135.78 | 116 24/32 |
| Resistance 2 | 932.37 | 1.5600 | 131.59 | 116 1/32 |
| Resistance 1 | 919.83 | 1.5480 | 129.19 | 115 13/32 |
| Pivot | 906.57 | 1.5380 | 125.00 | 114 22/32 |
| Support 1 | 894.03 | 1.5305 | 122.60 | 114 1/32 |
| Support 2 | 880.77 | 1.5209 | 118.41 | 113 10/32 |
| Support 3 | 868.23 | 1.5087 | 116.01 | 112 22/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 7/31 | 7:30 | 2Q A | GDP QoQ (Annualized) | - - | - - | - - | 1.00% |
| THU | 7:30 | 2Q A | Personal Consumption | - - | - - | - - | 1.10% |
| | 7:30 | 2Q A | GDP Price Index | - - | - - | - - | 2.70% |
| | 7:30 | 2Q A | Core PCE QoQ | - - | - - | - - | 2.30% |
| | 7:30 | 2Q | Employment Cost Index | - - | - - | - - | 0.70% |
| | 7:30 | 26-Jul | Initial Jobless Claims | - - | - - | - - | - - |
| | 7:30 | 19-Jul | Continuing Claims | - - | - - | - - | - - |
| | 8:45 | JUL | Chicago Purchasing Manager | - - | - - | - - | 49.6 |
| | 9:00 | JUL | NAPM-Milwaukee | - - | - - | - - | 39 |
| | 23:00 | JUL | Domestic Vehicle Sales | - - | - - | - - | 9.9M |
| | | | | | | | |
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.
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Dear Trader,
Todays rally was a bit of a surprise to me as I was not expecting the strength we had today.
Todays high comes right around the 50% Fibonacci retracement level from the high made July 23rd at 1291.25 and the low made yesterday at 1233.
1261-1263 key pivotal are. 1269 is near term resistance, 1255 near support.
In general still seems that we are in a wide range of 1200 to 1292 and a breal above or below can send us into new range. In between expect continued volatility as we have seen the last two days.
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1296.87 | 1904.67 | 11745 | 742.87 |
| Resistance 2 | 1279.93 | 1880.33 | 11562 | 729.43 |
| Resistance 1 | 1271.37 | 1863.67 | 11467 | 721.67 |
| Pivot | 1254.43 | 1839.33 | 11284 | 708.23 |
| Support 1 | 1245.87 | 1822.67 | 11189 | 700.47 |
| Support 2 | 1228.93 | 1798.33 | 11006 | 687.03 |
| Support 3 | 1220.37 | 1781.67 | 10911 | 679.27 |
| | | | | |
| Contract | August Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 949.87 | 1.5446 | 130.42 | 116 6/32 |
| Resistance 2 | 941.43 | 1.5600 | 128.13 | 115 23/32 |
| Resistance 1 | 929.97 | 1.5480 | 124.99 | 115 6/32 |
| Pivot | 921.53 | 1.5380 | 122.70 | 114 23/32 |
| Support 1 | 910.07 | 1.5305 | 119.56 | 114 6/32 |
| Support 2 | 901.63 | 1.5209 | 117.27 | 113 23/32 |
| Support 3 | 890.17 | 1.4837 | 114.13 | 113 6/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 7/30 | 6:00 | 25-Jul | MBA Mortgage Applications | - - | - - | - - | - - |
| WED | 7:15 | JUL | ADP Employment Change | - - | - - | - - | -79K |
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.
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Dear Trader,
Looks like the bears are gaining momentum again. Next major support level before we test new lows is 1225 followed by 1214.
Have a good trading week!
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1278.70 | 1898.67 | 11523 | 723.83 |
| Resistance 2 | 1269.10 | 1876.33 | 11435 | 717.07 |
| Resistance 1 | 1252.30 | 1845.67 | 11282 | 707.03 |
| Pivot | 1242.70 | 1823.33 | 11194 | 700.27 |
| Support 1 | 1225.90 | 1792.67 | 11041 | 690.23 |
| Support 2 | 1216.30 | 1770.33 | 10953 | 683.47 |
| Support 3 | 1199.50 | 1739.67 | 10800 | 673.43 |
| | | | | |
| Contract | August Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 944.97 | 1.5201 | 128.32 | 117 11/32 |
| Resistance 2 | 938.93 | 1.5600 | 126.77 | 116 11/32 |
| Resistance 1 | 934.47 | 1.5480 | 125.73 | 115 23/32 |
| Pivot | 928.43 | 1.5380 | 124.18 | 114 23/32 |
| Support 1 | 923.97 | 1.5305 | 123.14 | 114 3/32 |
| Support 2 | 917.93 | 1.5209 | 121.59 | 113 3/32 |
| Support 3 | 913.47 | 1.4946 | 120.55 | 112 15/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 7/29 | 8:00 | MAY | S&P/CaseShiller Home Price Ind | - - | - - | - - | 169.9 |
| TUE | 8:00 | MAY | S&P/CS Composite-20 YoY | - - | - - | - - | -15.30% |
| | 9:00 | JUL | Consumer Confidence | - - | - - | - - | 50.4 |
| | 16:00 | 27-Jul | ABC Consumer Confidence | - - | - - | - - | - - |
| | | | | | | | |
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.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Have a great weekend! and a positive trading week!
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1273.50 | 1888.33 | 11525 | 728.50 |
| Resistance 2 | 1268.00 | 1871.17 | 11476 | 722.30 |
| Resistance 1 | 1262.00 | 1858.33 | 11403 | 715.50 |
| Pivot | 1256.50 | 1841.17 | 11354 | 709.30 |
| Support 1 | 1250.50 | 1828.33 | 11281 | 702.50 |
| Support 2 | 1245.00 | 1811.17 | 11232 | 696.30 |
| Support 3 | 1239.00 | 1798.33 | 11159 | 689.50 |
| | | | | |
| Contract | August Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 954.00 | 1.5230 | 129.71 | 116 23/32 |
| Resistance 2 | 944.60 | 1.5600 | 128.11 | 116 3/32 |
| Resistance 1 | 937.30 | 1.5480 | 125.70 | 115 |
| Pivot | 927.90 | 1.5380 | 124.10 | 114 12/32 |
| Support 1 | 920.60 | 1.5305 | 121.69 | 113 9/32 |
| Support 2 | 911.20 | 1.5209 | 120.09 | 112 21/32 |
| Support 3 | 903.90 | 1.4954 | 117.68 | 111 18/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
NONE FOR MONDAY
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.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Trading action has been quite interesting this week, to say the least. Market reacted with a sharp bounce in response to some of the FEDs actions with financial stocks and the housing bill but gave up quite a bit today.
In my opinion, this market is still bearish but the FED was able to do what it wanted and that it is to put a bit more fear into the bears.
May see a wide range of between 1238 to 1284 for a while but if we break below 1238 then the next objective is 1177.
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1305.57 | 1886.00 | 11833 | 740.27 |
| Resistance 2 | 1294.53 | 1872.00 | 11732 | 731.53 |
| Resistance 1 | 1273.27 | 1845.50 | 11533 | 717.77 |
| Pivot | 1262.23 | 1831.50 | 11432 | 709.03 |
| Support 1 | 1240.97 | 1805.00 | 11233 | 695.27 |
| Support 2 | 1229.93 | 1791.00 | 11132 | 686.53 |
| Support 3 | 1208.67 | 1764.50 | 10933 | 672.77 |
| | | | | |
| Contract | August Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 949.40 | 1.5262 | 129.61 | 117 |
| Resistance 2 | 940.40 | 1.5600 | 128.03 | 116 3/32 |
| Resistance 1 | 933.90 | 1.5480 | 126.69 | 115 17/32 |
| Pivot | 924.90 | 1.5380 | 125.11 | 114 20/32 |
| Support 1 | 918.40 | 1.5305 | 123.77 | 114 2/32 |
| Support 2 | 909.40 | 1.5209 | 122.19 | 113 5/32 |
| Support 3 | 902.90 | 1.5001 | 120.85 | 112 19/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| /25 | 7:30 | JUN | Durable Goods Orders | - - | - - | - - | 0.00% |
| FRI | 7:30 | JUN | Durables Ex Transportation | - - | - - | - - | -0.90% |
| | 9:00 | JUL F | U. of Michigan Confidence | - - | - - | - - | - - |
| | 9:00 | JUN | New Home Sales | - - | - - | - - | 512K |
| | 9:00 | JUN | New Home Sales MoM | - - | - - | - - | -2.50% |
| | | | | | | | |
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.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1305.67 | 1922.33 | 11831 | 741.10 |
| Resistance 2 | 1298.33 | 1896.67 | 11756 | 734.10 |
| Resistance 1 | 1290.27 | 1873.33 | 11691 | 727.80 |
| Pivot | 1282.93 | 1847.67 | 11616 | 720.80 |
| Support 1 | 1274.87 | 1824.33 | 11551 | 714.50 |
| Support 2 | 1267.53 | 1798.67 | 11476 | 707.50 |
| Support 3 | 1259.47 | 1775.33 | 11411 | 701.20 |
| | | | | |
| Contract | August Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 971.70 | 1.5262 | 131.80 | 115 4/32 |
| Resistance 2 | 960.50 | 1.5600 | 130.25 | 114 21/32 |
| Resistance 1 | 939.90 | 1.5480 | 127.22 | 114 9/32 |
| Pivot | 928.70 | 1.5380 | 125.67 | 113 26/32 |
| Support 1 | 908.10 | 1.5305 | 122.64 | 113 15/32 |
| Support 2 | 896.90 | 1.5209 | 121.09 | 113 |
| Support 3 | 876.30 | 1.4878 | 118.06 | 112 20/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 7/24 | 7:30 | 19-Jul | Initial Jobless Claims | - - | - - | - - | - - |
| THU | 7:30 | 12-Jul | Continuing Claims | - - | - - | - - | - - |
| | 9:00 | JUN | Existing Home Sales | - - | - - | - - | 4.99M |
| | 9:00 | JUN | Existing Home Sales MoM | - - | - - | - - | 2.00% |
| | | | | | | | |
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.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Seems that the Fed's actions the last few days gave the market an artificial support which helped bring it up so far. 1286 is a major resistance level and my pure speculation is that this may be as high as we go on this run up. Be interesting to see as I have been wrong many times before (-:
good trading!
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1316.27 | 1878.00 | 11946 | 752.07 |
| Resistance 2 | 1297.13 | 1852.50 | 11774 | 734.63 |
| Resistance 1 | 1286.97 | 1839.00 | 11680 | 725.87 |
| Pivot | 1267.83 | 1813.50 | 11508 | 708.43 |
| Support 1 | 1257.67 | 1800.00 | 11414 | 699.67 |
| Support 2 | 1238.53 | 1774.50 | 11242 | 682.23 |
| Support 3 | 1228.37 | 1761.00 | 11148 | 673.47 |
| | | | | |
| Contract | August Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 1001.93 | 1.5237 | 138.51 | 116 4/32 |
| Resistance 2 | 989.47 | 1.5600 | 135.70 | 115 19/32 |
| Resistance 1 | 967.03 | 1.5480 | 131.98 | 114 27/32 |
| Pivot | 954.57 | 1.5380 | 129.17 | 114 10/32 |
| Support 1 | 932.13 | 1.5305 | 125.45 | 113 17/32 |
| Support 2 | 919.67 | 1.5209 | 122.64 | 113 |
| Support 3 | 897.23 | 1.4670 | 118.92 | 112 8/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 7/23 | 6:00 | 18-Jul | MBA Mortgage Applications | - - | - - | - - | |
