Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Market finished the month of August with another relatively low volume day aheadof the long Labor Day weekend.
techincally the market is at somewhat of a crossroad. I am looking at 1277-1280 as a pivotal level with 1320 being strong resistance and 1260 first major support.
Enjoy the long weekend and I hope all of you will have a great trading month during September!
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1309.87 | 1933.67 | 11825 | 754.97 |
| Resistance 2 | 1303.83 | 1918.33 | 11762 | 750.53 |
| Resistance 1 | 1293.57 | 1897.67 | 11654 | 744.97 |
| Pivot | 1287.53 | 1882.33 | 11591 | 740.53 |
| Support 1 | 1277.27 | 1861.67 | 11483 | 734.97 |
| Support 2 | 1271.23 | 1846.33 | 11420 | 730.53 |
| Support 3 | 1260.97 | 1825.67 | 11312 | 724.97 |
| | | | | |
| Contract | Dec Gold | Sept. Euro | Oct. Crude Oil | Sept. Bonds |
| Resistance 3 | 851.33 | 1.6258 | 121.65 | 119 9/32 |
| Resistance 2 | 847.77 | 1.5600 | 120.21 | 118 25/32 |
| Resistance 1 | 841.53 | 1.5480 | 117.89 | 118 1/32 |
| Pivot | 837.97 | 1.5380 | 116.45 | 117 17/32 |
| Support 1 | 831.73 | 1.5305 | 114.13 | 116 24/32 |
| Support 2 | 828.17 | 1.5209 | 112.69 | 116 8/32 |
| Support 3 | 821.93 | 1.5877 | 110.37 | 115 16/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 9/2 | 8:00 | JUN | RPX Composite 28dy Index | - - | - - | - - | 233.37 |
| TUE | 8:00 | JUN | RPX Composite 28dy YoY | - - | - - | - - | -15.60% |
| | 9:00 | AUG | ISM Manufacturing | - - | - - | - - | 50 |
| | 9:00 | JUL | Construction Spending MoM | - - | - - | - - | -0.40% |
| | 16:00 | 31-Aug | ABC Consumer Confidence | - - | - - | - - | - - |
| | | AUG | Domestic Vehicle Sales | - - | - - | - - | - - |
| | | | | | | | |
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,
The market rallied today (for a change I was right when I wrote two days ago that a break of 1277 can trigger 1300...). However, volume was low and we have a long weekend ahead of us so I am curious to see the market action tomorrow on the last trading day for August and ahead of Labor Day weekend.
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1315.33 | 1943.67 | 12060 | 773.87 |
| Resistance 2 | 1307.67 | 1934.33 | 11886 | 760.83 |
| Resistance 1 | 1303.33 | 1923.67 | 11792 | 753.37 |
| Pivot | 1295.67 | 1914.33 | 11618 | 740.33 |
| Support 1 | 1291.33 | 1903.67 | 11524 | 732.87 |
| Support 2 | 1283.67 | 1894.33 | 11350 | 719.83 |
| Support 3 | 1279.33 | 1883.67 | 11256 | 712.37 |
| | | | | |
| Contract | Dec Gold | Sept. Euro | Oct. Crude Oil | Sept. Bonds |
| Resistance 3 | 867.97 | 1.6240 | 125.72 | 120 |
| Resistance 2 | 858.83 | 1.5600 | 123.11 | 119 16/32 |
| Resistance 1 | 848.77 | 1.5480 | 119.30 | 119 6/32 |
| Pivot | 839.63 | 1.5380 | 116.69 | 118 22/32 |
| Support 1 | 829.57 | 1.5305 | 112.88 | 118 11/32 |
| Support 2 | 820.43 | 1.5209 | 110.27 | 117 27/32 |
| Support 3 | 810.37 | 1.5820 | 106.46 | 117 17/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 8/29 | 8:45 | AUG | Chicago Purchasing Manager | - - | 50 | - - | 50.8 |
| FRI | 9:00 | AUG F | U. of Michigan Confidence | - - | 62 | - - | 61.7 |
| | 9:00 | AUG | NAPM-Milwaukee | - - | - - | - - | 44 |
| | | | | | | | |
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,
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.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
The shorter term "bands" have narrowed to 1262.50 and 1277. I think that a break below 1262.50 -1259 area can lead to much lower prices, on the other hand a break above 1277 can trigger closing the last gap at 1290. Time will tell if this speculation is right.....
Good Trading!
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1289.50 | 1930.33 | 11544 | 739.87 |
| Resistance 2 | 1282.50 | 1917.17 | 11490 | 733.43 |
| Resistance 1 | 1276.80 | 1903.33 | 11448 | 728.37 |
| Pivot | 1269.80 | 1890.17 | 11394 | 721.93 |
| Support 1 | 1264.10 | 1876.33 | 11352 | 716.87 |
| Support 2 | 1257.10 | 1863.17 | 11298 | 710.43 |
| Support 3 | 1251.40 | 1849.33 | 11256 | 705.37 |
| | | | | |
| Contract | Dec Gold | Sept. Euro | Oct. Crude Oil | Sept. Bonds |
| Resistance 3 | 863.87 | 1.6393 | 124.20 | 119 16/32 |
| Resistance 2 | 849.93 | 1.5600 | 121.05 | 119 5/32 |
| Resistance 1 | 839.87 | 1.5480 | 118.67 | 118 30/32 |
| Pivot | 825.93 | 1.5380 | 115.52 | 118 20/32 |
| Support 1 | 815.87 | 1.5305 | 113.14 | 118 13/32 |
| Support 2 | 801.93 | 1.5209 | 109.99 | 118 2/32 |
| Support 3 | 791.87 | 1.5826 | 107.61 | 117 27/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 8/27 | 6:00 | 22-Aug | MBA Mortgage Applications | - - | - - | - - | -1.50% |
| WED | 7:30 | JUL | Durable Goods Orders | - - | 0.10% | -1.3% - +2.2% | 0.80% |
| | 7:30 | JUL | Durables Ex Transportation | - - | -0.50% | - - | 2.00% |
| | 7:35 | | Atlanta Fed Pres Lockhart will speak about inflation and inflationary pressures in the US Economy at Georgia State | | | | |
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,
Sometimes a longer term outlook is helpful even though most of you are day-traders.
Below you will see the weekly chart of the SP 500 with possible bounce levels as well as possible levels if this market makes new lows.
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1300.37 | 1950.67 | 11833 | 755.77 |
| Resistance 2 | 1292.83 | 1936.33 | 11730 | 747.13 |
| Resistance 1 | 1279.57 | 1915.67 | 11562 | 734.17 |
| Pivot | 1272.03 | 1901.33 | 11459 | 725.53 |
| Support 1 | 1258.77 | 1880.67 | 11291 | 712.57 |
| Support 2 | 1251.23 | 1866.33 | 11188 | 703.93 |
| Support 3 | 1237.97 | 1845.67 | 11020 | 690.97 |
| | | | | |
| Contract | Dec Gold | Sept. Euro | Oct. Crude Oil | Sept. Bonds |
| Resistance 3 | 843.03 | 1.6192 | 118.71 | 120 25/32 |
| Resistance 2 | 837.47 | 1.5600 | 117.39 | 119 29/32 |
| Resistance 1 | 832.23 | 1.5480 | 116.33 | 119 11/32 |
| Pivot | 826.67 | 1.5380 | 115.01 | 118 15/32 |
| Support 1 | 821.43 | 1.5305 | 113.95 | 117 28/32 |
| Support 2 | 815.87 | 1.5209 | 112.63 | 117 |
| Support 3 | 810.63 | 1.5856 | 111.57 | 116 14/32 |
REPORTS (CST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 8/26 | 8:00 | JUN | S&P/CaseShiller Home Price Ind | - - | - - | - - | 168.5 |
| TUE | 8:00 | JUN | S&P/CS Composite-20 YoY | - - | -16.40% | - - | -15.80% |
| | 8:00 | 2Q | S&P/Case-Shiller US HPI | - - | - - | - - | 159.2 |
| | 8:00 | 2Q | S&P/Case-Shiller US HPI YOY% | - - | - - | - - | -14.10% |
| | 9:00 | AUG | Consumer Confidence | - - | 53 | 50 - 56 | 51.9 |
| | 9:00 | AUG | Richmond Fed Manufact. Index | - - | - - | - - | -16 |
| | 9:00 | JUL | New Home Sales | - - | 525K | 510K - 570K | 530K |
| | 9:00 | JUN | House Price Index MoM | - - | -0.90% | - - | -0.30% |
| | 9:00 | JUL | New Home Sales MoM | - - | -0.90% | - - | -0.60% |
| | 9:00 | 2Q | House Price Purchase Index QoQ | - - | - - | - - | - - |
| | 13:00 | 26-Aug | Minutes of Aug. 5 FOMC Meeting | - - | | | |
| | 16:00 | 24-Aug | ABC Consumer Confidence | | - - | - - | -49 |
| | | | | | | | |
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,
Today was my first day at work after two weeks and it seems the market really did not do much other than act erratic and stay within the 1260-1314 range.
One more week left in August before more volume returns to the market after Labor day break.
Have a good weekend!
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1307.67 | 1968.00 | 11976 | 762.80 |
| Resistance 2 | 1300.83 | 1955.00 | 11806 | 751.10 |
| Resistance 1 | 1296.67 | 1942.50 | 11714 | 744.80 |
| Pivot | 1289.83 | 1929.50 | 11544 | 733.10 |
| Support 1 | 1285.67 | 1917.00 | 11452 | 726.80 |
| Support 2 | 1278.83 | 1904.00 | 11282 | 715.10 |
| Support 3 | 1274.67 | 1891.50 | 11190 | 708.80 |
| | | | | |
| Contract | Dec Gold | Sept. Euro | Oct. Crude Oil | Sept. Bonds |
| Resistance 3 | 856.13 | 1.6166 | 127.35 | 118 24/32 |
| Resistance 2 | 849.87 | 1.5600 | 124.60 | 118 11/32 |
| Resistance 1 | 838.63 | 1.5480 | 119.67 | 118 |
| Pivot | 832.37 | 1.5380 | 116.92 | 117 19/32 |
| Support 1 | 821.13 | 1.5305 | 111.99 | 117 7/32 |
| Support 2 | 814.87 | 1.5209 | 109.24 | 116 26/32 |
| Support 3 | 803.63 | 1.5728 | 104.31 | 116 15/32 |
Monday, August 25, 2008
Economic
10:00am July Existing Home Sales (last 4.86M, m/m -2.6%)
Events
Democratic National Convention (through Aug 28), Trades Ex-split: ALXN 2-1. Trades Ex-dividend: VMC $0.49, HLF
Earnings
Before the Open: APWR, IONA. After the Close: WINN, CPY.
Note all time are EST. 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.
9301 Wilshire Blvd. Suite No. 515, Beverly Hills, CA 90210 Tel : 800-454-9572 jonathan@cannontrading.com
Good Morning-
| Daily Support & Résistance Levels | Mini-S&P 500 Futures Sept. 08 | Mini-Nasdaq 100 Futures Sept. 08 | Mini-Dow Futures Sept. 08 | Mini Russell 2000 Futures Sept. 08 | 30-year US Bond Futures Sept. 08 | 10-Year US Note Futures Sept. 08 |
| Support 3 | 1263.00 | 1871.00 | 11286 | 704.80 | 11613 | 11514 |
| Support 2 | 1271.25 | 1882.00 | 11370 | 710.00 | 11702 | 11525 |
| Support 1 | 1278.00 | 1896.00 | 11422 | 721.40 | 11713.5 | 11531.5 |
| Résistance 1 | 1287.00 | 1923.00 | 11502 | 732.00 | 11809.5 | 11610 |
| Résistance 2 | 1293.25 | 1933.00 | 11569 | 737.70 | 11824 | 11617 |
| Résistance 3 | 1306.00 | 1943.00 | 11636 | 742.80 | 11914 | 11627.5 |
Updated: 21-Aug-08 10:00 ET
This Week's Calendar
Click on a "Release" for Insight
| Date | ET | Release | For | Actual | Briefing.com | Consensus | Prior | Revised From |
| Aug 21 | 08:30 | Initial Claims | 08/16 | 432K | 435K | 438K | 445K | 450K |
| Aug 21 | 10:00 | Leading Indicators | Jul | -0.7% | -0.3% | -0.3% | 0.0% | -0.1% |
| Aug 21 | 10:00 | Philadelphia Fed | Aug | -12.7 | -12.0 | -13.4 | -16.3 | |
Week of August 25 - August 29
| Date | ET | Release | For | Actual | Briefing.com | Consensus | Prior | Revised From |
| Aug 25 | 10:00 | Existing Home Sales | Jul | | 4.95M | 4.90M | 4.86M | |
| Aug 26 | 10:00 | Consumer Confidence | Aug | | 53.0 | 53.0 | 51.9 | |
| Aug 26 | 10:00 | New Home Sales | Jul | | 535K | 523K | 530K | |
| Aug 26 | 14:00 | FOMC Minutes | Aug 5 | | | | | |
| Aug 27 | 08:30 | Durable Orders | Jul | | 0.5% | 0.1% | 0.8% | |
| Aug 27 | 10:35 | Crude Inventories | 08/23 | | NA | NA | 9390K | |
| Aug 28 | 08:30 | Chain Deflator-Prel. | Q2 | | 1.1% | NA | 1.1% | |
| Aug 28 | 08:30 | GDP-Prel. | Q2 | | 2.8% | 2.7% | 1.9% | |
| Aug 28 | 08:30 | Initial Claims | 08/23 | | NA | NA | 432K | |
| Aug 29 | 08:30 | Personal Income | Jul | | -0.3% | -0.1% | 0.1% | |
| Aug 29 | 08:30 | Personal Spending | Jul | | 0.3% | 0.3% | 0.6% | |
| Aug 29 | 09:45 | Chicago PMI | Aug | | 50.5 | 49.9 | 50.8 | |
| Aug 29 | 10:00 | Mich Sentiment-Rev. | Aug | | 63.0 | 62.3 | NA | |
Important Please Note: Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits.. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. Readers are urged to exercise their own judgment in trading!
| Disclaimer:
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINACIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETLEY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCONTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. |
Please read the FULL DISCLAIMER at the the end of th
