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Futures Trading Levels & Economic Reports for July 6th 2010

Wishing you a great 4th of July weekend! ( Our office is closed Monday )

Stock indices are getting a bit oversold and I suspect that sometime next week we should see a good, short covering rally. However, i don’t try to predict when it will happen but rather use price action with support/resistance lines to get a confirmation.

Daily chart of the e mini Russell 2000 for your review below. A break above 613 would give me more confidence in taking a trade from the long side, until then the trend is still pointing lower.

TFE - Russell 2000 Index Mini (S100) (ICE), Equalized Active Daily Continuation

TFE – Russell 2000 Index Mini (S100) (ICE), Equalized Active Daily Continuation

Trading Levels:

Futures Trading Levels July 2nd 2010

Futures Trading Levels July 2nd 2010

Date ET Release For Actual Briefing.com Consensus Prior Revised From
  • Jul 06 10:00 ISM Services Jun 55.4 55.0 55.4
  • Jul 07 10:30 Crude Inventories 07/03 NA NA -2.01M
  • Jul 08 08:30 Continuing Claims 06/26 4600K 4600K 4616K
  • Jul 08 08:30 Initial Claims 07/03 465K 460K 472K
  • Jul 08 15:00 Consumer Credit May -$2.5B NA -$3.0B $1.0B
  • Jul 09 10:00 Wholesale Inventories May 0.3% 0.4% 0.4%

Disclaimer:
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. This is not a solicitation of any order to buy or sell, but a current futures 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!

 

Tags: > > > > > Posted in: Commodity Trading   | Future Trading News   | Futures Trading   | Index Futures  

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