Trading Levels and Reports for August 31, 2012 - Cannon Trading

Trading Levels and Reports for August 31, 2012

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Friday August 31, 2012

 

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index

Contract Sept. 2012 SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1411.63 2794.67 13125 819.90 82.20
Resistance 2 1407.12 2783.33 13080 816.40 81.99
Resistance 1 1404.43 2772.67 13055 812.90 81.83
Pivot 1399.92 2761.33 13010 809.40 81.62
Support 1 1397.23 2750.67 12985 805.90 81.46
Support 2 1392.72 2739.33 12940 802.40 81.25
Support 3 1390.03 2728.67 12915 798.90 81.09


3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract Dec Gold Sept. Euro Oct. Crude Oil Dec. Bonds
Resistance 3 1681.2 1.2637 97.27 151 26/32
Resistance 2 1674.0 1.2601 96.44 151 8/32
Resistance 1 1666.8 1.2559 95.62 150 25/32
Pivot 1659.6 1.2523 94.79 150 7/32
Support 1 1652.4 1.2481 93.97 149 24/32
Support 2 1645.2 1.2445 93.14 149 6/32
Support 3 1638.0 1.2403 92.32 148 23/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 824.2 926.5 1796.33 3159.3
Resistance 2 820.8 920.0 1783.17 3128.2
Resistance 1 814.7 911.0 1773.33 3088.8
Pivot 811.3 904.5 1760.17 3057.7
Support 1 805.2 895.5 1750.3 3018.3
Support 2 801.8 889.0 1737.17 2987.2
Support 3 795.7 880.0 1727.33 2947.8


5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:54pm Currency Impact Detail Actual Forecast Previous Graph
Fri

Aug 31
 2:00am EUR
German Retail Sales m/m
0.2% -0.1%
4:00am EUR
Italian Monthly Unemployment Rate
10.9% 10.8%
4:00am EUR
Italian Quarterly Unemployment Rate
10.6% 9.8%
5:00am EUR
CPI Flash Estimate y/y
2.5% 2.4%
5:00am EUR
Unemployment Rate
11.3% 11.2%
5:00am EUR
Italian Prelim CPI m/m
0.3% 0.1%
9:45am USD
Chicago PMI
53.6 53.7
9:55am USD
Revised UoM Consumer Sentiment
73.7 73.6
9:55am USD
Revised UoM Inflation Expectations
3.6%
10:00am USD
Fed Chairman Bernanke Speaks
10:00am USD
Factory Orders m/m
1.7% -0.5%
Day 2 ALL
Jackson Hole Symposium

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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