Trading Levels and Reports 7-31-2012
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 Monday July 31, 2012
Hello Traders,
August Gold is entering delivery period, so if you are trading gold, make sure you start trading December gold. Symbol for December is Z.
On a different note: If you are a day trader, how do you prepare for the trading day?
Do you simply turn on the machine and start trading? I hope not…
Here are a few pointers I recommend my clients as preparation for the trading day:
↔Know what reports are coming out that day
↔Overview of longer time frames (daily, hourly, 30 minutes)
↔Key support and resistance levels
↔Go over your equity run and make sure your statement is correct
↔Make sure your surroundings will enable you to trade
↔Fit trading into your schedule, life style not vice versa
↔Do you have a daily loss limit? Profit target?
These are just a few things any daytrader should do in order to be better prepared for the trading day. As always if you need any personalized feedback, feel free to visit our trader profile page or email me.
Also please like us on Facebook!!
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.
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
| Contract Sept. 2012 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1396.10 | 2680.67 | 13138 | 807.97 | 83.35 |
| Resistance 2 | 1391.70 | 2669.33 | 13105 | 803.23 | 83.20 |
| Resistance 1 | 1385.60 | 2651.67 | 13057 | 796.27 | 83.04 |
| Pivot | 1381.20 | 2640.33 | 13024 | 791.53 | 82.88 |
| Support 1 | 1375.10 | 2622.67 | 12976 | 784.57 | 82.72 |
| Support 2 | 1370.70 | 2611.33 | 12943 | 779.83 | 82.57 |
| Support 3 | 1364.60 | 2593.67 | 12895 | 772.87 | 82.41 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | Dec Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds | |
| Resistance 3 | 1644.8 | 1.2396 | 92.22 | 152 25/32 | |
| Resistance 2 | 1636.8 | 1.2356 | 91.58 | 151 31/32 | |
| Resistance 1 | 1631.1 | 1.2312 | 90.60 | 151 17/32 | |
| Pivot | 1624.1 | 1.2272 | 89.96 | 150 23/32 | |
| Support 1 | 1618.4 | 1.2228 | 88.98 | 150 9/32 | |
| Support 2 | 1611.4 | 1.2188 | 88.34 | 149 15/32 | |
| Support 3 | 1607.7 | 1.2144 | 87.36 | 149 1/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Sept. Silver | |
| Resistance 3 | 824.5 | 927.7 | 1664.67 | 2906.8 | |
| Resistance 2 | 821.0 | 922.8 | 1655.83 | 2863.2 | |
| Resistance 1 | 817.5 | 918.7 | 1649.67 | 2838.8 | |
| Pivot | 814.0 | 913.8 | 1640.83 | 2795.2 | |
| Support 1 | 810.5 | 909.7 | 1634.7 | 2770.8 | |
| Support 2 | 807.0 | 904.8 | 1625.83 | 2727.2 | |
| Support 3 | 803.5 | 900.7 | 1619.67 | 2702.8 |
5. Economic Reports
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
| Date | 4:23pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Tue
Jul 31
|
2:00am | EUR |
German Retail Sales m/m
|
0.6% | -0.3% | ||||
| 2:45am | EUR |
French Consumer Spending m/m
|
0.2% | 0.4% | |||||
| 3:55am | EUR |
German Unemployment Change
|
9K | 7K | |||||
| 4:00am | EUR |
Italian Monthly Unemployment Rate
|
10.2% | 10.1% | |||||
| 5:00am | EUR |
CPI Flash Estimate y/y
|
2.4% | 2.4% | |||||
| 5:00am | EUR |
Unemployment Rate
|
11.2% | 11.1% | |||||
| 5:00am | EUR |
Italian Prelim CPI m/m
|
0.3% | 0.2% | |||||
| 8:30am | USD |
Core PCE Price Index m/m
|
0.2% | 0.1% | |||||
| 8:30am | USD |
Employment Cost Index q/q
|
0.5% | 0.4% | |||||
| 8:30am | USD |
Personal Spending m/m
|
0.1% | 0.0% | |||||
| 8:30am | USD |
Personal Income m/m
|
0.5% | 0.2% | |||||
| 9:00am | USD |
S&P/CS Composite-20 HPI y/y
|
-1.5% | -1.9% | |||||
| 9:45am | USD |
Chicago PMI
|
52.6 | 52.9 | |||||
| 10:00am | USD |
CB Consumer Confidence
|
61.5 | 62.0 | |||||
| 4:00pm | USD |
Treasury Sec Geithner Speaks
|
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
