Trading Levels and Reports for 8-24-2012
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 Friday August 24, 2012
Hello Traders,
Couple of days ago I shared with you my daily mini SP chart with a possible sell signal I had. That specific signal along with the one below for the mini Russell got a confirmation in my opinion with price action breaking below immediate support.
For the mini Russell 2000 to make a meaningful correction, perhaps 787, I would like to see price action breaking below 801 .
Daily chart of the mini Russell 2000 for your review below. If you would like to have a second opinion on different markets, trading methods and more, feel free to
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 | 1417.33 | 2801.67 | 13135 | 829.73 | 81.85 |
| Resistance 2 | 1412.92 | 2790.33 | 13113 | 823.47 | 81.69 |
| Resistance 1 | 1406.83 | 2777.17 | 13075 | 814.03 | 81.54 |
| Pivot | 1402.42 | 2765.83 | 13053 | 807.77 | 81.38 |
| Support 1 | 1396.33 | 2752.67 | 13015 | 798.33 | 81.22 |
| Support 2 | 1391.92 | 2741.33 | 12993 | 792.07 | 81.06 |
| Support 3 | 1385.83 | 2728.17 | 12955 | 782.63 | 80.91 |
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 | 1705.1 | 1.2662 | 100.19 | 149 23/32 | |
| Resistance 2 | 1691.3 | 1.2627 | 99.24 | 149 5/32 | |
| Resistance 1 | 1682.1 | 1.2596 | 97.65 | 148 25/32 | |
| Pivot | 1668.3 | 1.2561 | 96.70 | 148 7/32 | |
| Support 1 | 1659.1 | 1.2530 | 95.11 | 147 27/32 | |
| Support 2 | 1645.3 | 1.2495 | 94.16 | 147 9/32 | |
| Support 3 | 1636.1 | 1.2464 | 92.57 | 146 29/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Sept. Silver | |
| Resistance 3 | 844.8 | 942.5 | 1756.33 | 3199.7 | |
| Resistance 2 | 837.9 | 932.5 | 1744.17 | 3139.3 | |
| Resistance 1 | 826.3 | 913.5 | 1729.08 | 3096.7 | |
| Pivot | 819.4 | 903.5 | 1716.92 | 3036.3 | |
| Support 1 | 807.8 | 884.5 | 1701.8 | 2993.7 | |
| Support 2 | 800.9 | 874.5 | 1689.67 | 2933.3 | |
| Support 3 | 789.3 | 855.5 | 1674.58 | 2890.7 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:04pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Fri
Aug 24
|
8:30am | USD |
Core Durable Goods Orders m/m
|
0.5% | -1.4% | ||||
| 8:30am | USD |
Durable Goods Orders m/m
|
2.6% | 1.3% | |||||
| 9:00am | EUR |
Belgium NBB Business Climate
|
-11.6 | -11.3 |
