Trading Levels and Reports for 8-22-2012
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 Wednesday August 22, 2012
Hello Traders,
Are we finally seeing a short term top on stock indices??
I am not sure to be honest but I like the risk reward on a short stop if we can take out todays’ lows at 1408.
Chart and possible levels below for your review:
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 | 1437.90 | 2836.33 | 13405 | 839.00 | 83.07 |
| Resistance 2 | 1431.25 | 2819.67 | 13355 | 832.90 | 82.79 |
| Resistance 1 | 1421.50 | 2795.83 | 13265 | 823.80 | 82.36 |
| Pivot | 1414.85 | 2779.17 | 13215 | 817.70 | 82.08 |
| Support 1 | 1405.10 | 2755.33 | 13125 | 808.60 | 81.66 |
| Support 2 | 1398.45 | 2738.67 | 13075 | 802.50 | 81.38 |
| Support 3 | 1388.70 | 2714.83 | 12985 | 793.40 | 80.95 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | Dec Gold | Sept. Euro | Oct. Crude Oil | Sept. Bonds | |
| Resistance 3 | 1671.3 | 1.2667 | 99.49 | 147 30/32 | |
| Resistance 2 | 1657.5 | 1.2580 | 98.67 | 147 4/32 | |
| Resistance 1 | 1648.5 | 1.2524 | 97.70 | 146 23/32 | |
| Pivot | 1634.7 | 1.2437 | 96.88 | 145 29/32 | |
| Support 1 | 1625.7 | 1.2381 | 95.91 | 145 16/32 | |
| Support 2 | 1611.9 | 1.2294 | 95.09 | 144 22/32 | |
| Support 3 | 1602.9 | 1.2238 | 94.12 | 144 9/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Sept. Silver | |
| Resistance 3 | 849.2 | 931.3 | 1755.67 | 3046.0 | |
| Resistance 2 | 844.6 | 926.7 | 1744.83 | 2996.0 | |
| Resistance 1 | 841.7 | 923.8 | 1738.67 | 2961.0 | |
| Pivot | 837.1 | 919.2 | 1727.83 | 2911.0 | |
| Support 1 | 834.2 | 916.3 | 1721.7 | 2876.0 | |
| Support 2 | 829.6 | 911.7 | 1710.83 | 2826.0 | |
| Support 3 | 826.7 | 908.8 | 1704.67 | 2791.0 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:49pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Wed
Aug 22
|
10:00am | USD |
Existing Home Sales
|
4.52M | 4.37M | ||||
| 10:30am | USD |
Crude Oil Inventories
|
0.1M | -3.7M | |||||
| 2:00pm | USD |
FOMC Meeting Minutes
|
