Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Wishing all of you a great trading month in September!
Since we start a new month, I thought a monthly chart of SP 500 would be appropriate for longer term view.
My overall stance is leaning towards the bear camp.
I think that 1000-1017 are is very important support and if we break below it can accelerate selling towards 941 level very fast. On the other hand as long as that support holds the market will trade in a wide range between the 1000 level and 1115 area.
Futures Trading Levels
This Week’s Calendar from Econoday.Com
All reports are EST time
Another great source for economic reports around the globe with “report importance indicator” at: http://www.forexfactory.com/calendar.php
Wednesday, Sept 1st 2010 – http://mam.econoday.com/byweek.asp?cust=mam
- Motor Vehicle Sales
- MBA Purchase Applications
7:00 AM ET
- Challenger Job-Cut Report
7:30 AM ET
- ADP Employment Report
8:15 AM ET
- ISM Mfg Index
10:00 AM ET
- Construction Spending
10:00 AM ET
- EIA Petroleum Status Report
10:30 AM ET
- Elizabeth Duke Speaks
10:45 AM ET
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!