Trading Levels and Reports for August 7, 2012
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 Thursday September 6, 2012
Hello Traders,
Big jump today for stock index futures. Tomorrow we have monthly un employment which is defintely a market mover report.
Should be interesting. I have immediate resistance at 1442 and first major support at 1411. It is a wide range between.
Be patient and trade well!
Daily mini SP 500 chart for your review below:
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GOOD TRADING!
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.
| Contract Sept. 2012 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1457.50 | 2890.50 | 13468 | 862.60 | 81.80 |
| Resistance 2 | 1444.25 | 2860.00 | 13375 | 851.00 | 81.63 |
| Resistance 1 | 1437.50 | 2843.00 | 13322 | 844.00 | 81.35 |
| Pivot | 1424.25 | 2812.50 | 13229 | 832.40 | 81.18 |
| Support 1 | 1417.50 | 2795.50 | 13176 | 825.40 | 80.90 |
| Support 2 | 1404.25 | 2765.00 | 13083 | 813.80 | 80.73 |
| Support 3 | 1397.50 | 2748.00 | 13030 | 806.80 | 80.45 |
| Contract | Dec Gold | Sept. Euro | Oct. Crude Oil | Dec. Bonds | |
| Resistance 3 | 1738.9 | 1.2766 | 99.78 | 151 1/32 | |
| Resistance 2 | 1727.9 | 1.2710 | 98.74 | 150 20/32 | |
| Resistance 1 | 1715.7 | 1.2674 | 96.78 | 150 | |
| Pivot | 1704.7 | 1.2618 | 95.74 | 149 19/32 | |
| Support 1 | 1692.5 | 1.2582 | 93.78 | 148 31/32 | |
| Support 2 | 1681.5 | 1.2526 | 92.74 | 148 18/32 | |
| Support 3 | 1669.3 | 1.2490 | 90.78 | 147 30/32 | |
| Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. Silver | |
| Resistance 3 | 817.2 | 914.8 | 1770.33 | 3389.3 | |
| Resistance 2 | 809.3 | 903.3 | 1761.67 | 3346.7 | |
| Resistance 1 | 803.9 | 897.5 | 1754.33 | 3309.8 | |
| Pivot | 796.1 | 886.0 | 1745.67 | 3267.2 | |
| Support 1 | 790.7 | 880.3 | 1738.3 | 3230.3 | |
| Support 2 | 782.8 | 868.8 | 1729.67 | 3187.7 | |
| Support 3 | 777.4 | 863.0 | 1722.33 | 3150.8 |
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
Sep 7
|
2:00am | EUR |
German Trade Balance
|
15.5B | 16.2B | ||||
| 2:45am | EUR |
French Gov Budget Balance
|
-56.7B | ||||||
| 2:45am | EUR |
French Trade Balance
|
-5.7B | -6.0B | |||||
| 6:00am | EUR |
German Industrial Production m/m
|
0.1% | -0.9% | |||||
| 8:30am | USD |
Non-Farm Employment Change
|
123K | 163K | |||||
| 8:30am | USD |
Unemployment Rate
|
8.3% | 8.3% | |||||
| 8:30am | USD |
Average Hourly Earnings m/m
|
0.2% | 0.1% |
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
