Futures Trading Levels, On Weak Markets

Markets are showing signs of weakness as I mentioned over past 10 days or so.

Below is a mini Russell daily chart with different levels for your review.

I think that Fridays high of 829.40 and 803.40 ( 61.8% Fibonacci level) will serve as the bands for now until we either get some acceleration of selling or exhaustion of selling and bounce.

Daily Chart of the Mini Russell from July 18th 2011

Daily Chart of the Mini Russell from July 14th 2011



Commodity Futures trading levels for July 19th, 2011

Economic Reports for Tuesday July 19th, 2011

Building Permits
8:30am USD

Housing Starts
8:30am USD

Economics Report Source: http://www.forexfactory.com/calendar.php

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!

Tags: > Posted in: Futures Trading   | Uncategorized  

Comments are closed.

Download Cannon’s new eBook, “Futures Forthright” instantly.

Quick Tip: After registering you will be emailed login information, so be sure to use an email address you have access to. If you need assistance please call us at 1-800-454-9572, a professional broker will help you through the registration process.
Doing Business With
See more...