Cannon Futures Trading Blog

S&P 500 Futures Outlook, Commodities Support & Resistance Levels, & Economic Calendars

( Daily Commodity and Futures Market Update from Ilan Levy-Mayer - VP of Cannon Trading )

This Blog provides market outlook for different commodities and futures markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily blog will include educational information about different aspects of commodity and futures trading.

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Best Trading Practices: Always Ask your Futures Broker July 30th 2010

“Last Trading day of the month tomorrow.”

At any time traders, especially self directed futures traders, must be aware of first notice day, last trading, economic reports etc.

Tomorrow is first notice day for August Gold futures contract – As your futures and commodity broker we try our best to keep many of you informed via this daily blog but always make sure you contact your futures broker with any questions you may have.

Daily chart of September e-mini Dow Jones below for review. I am not sure about direction to be honest. Both bulls and bears have a case and at this point we are trading in a band between 10293 and 10536, which is a wide trading range.

Trading Levels:

This Week’s Calendar from Econoday.Com
All reports are EST time
Friday July 30th – http://mam.econoday.com/byweek.asp?cust=mam

GDP
8:30 AM ET
Employment Cost Index
8:30 AM ET
Chicago PMI
9:45 AM ET
Consumer Sentiment
9:55 AM ET
Farm Prices
3:00 PM ET

Disclaimer:
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!

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