Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday August 6, 2015
For 2015 I would like to wish all of you discipline and patience in your trading!
Daily chart of the Dow Jones cash index below for your review.
I marked what you can see as lower highs and lower lows.
Today’s rally may have a bit more to go to the upside but a failure to clear 17800 area may result in a resumed downside pressure.
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.
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|Contract Sept. 2015||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Dec. Gold||Sept. Silver||Sept. Crude Oil||Sept. Bonds||Sept. Euro|
|Resistance 3||1099.6||14.88||48.19||158 12/32||1.1051|
|Resistance 2||1095.7||14.78||47.44||157 21/32||1.0999|
|Resistance 1||1089.9||14.67||46.32||156 22/32||1.0955|
|Support 2||1076.3||14.36||43.70||154 9/32||1.0807|
|Support 3||1070.5||14.25||42.58||153 10/32||1.0763|
|Contract||Dec. Corn||Sept. Wheat||Nov Beans||Dec. SoyMeal||Sept. Nat Gas|
|ThuAug 6||2:00am||EUR||German Factory Orders m/m||0.4%||-0.2%|
|Tentative||EUR||Spanish 10-y Bond Auction||2.10|1.5|
|Tentative||EUR||French 10-y Bond Auction||1.30|2.1|
|7:30am||USD||Challenger Job Cuts y/y||42.7%|
|10:30am||USD||Natural Gas Storage||46B||52B|
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 here in 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.