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Trading Levels and Reports for August 29, 2012

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 29, 2012

 

Hello Traders,

 Each trading day I hold a live educational day trading webinar during the first 2 hours of trading.   Here at Cannon Trading I am Vice President and President / AP of LEVEX Capital Management Inc., a registered commodity trading advisor.

Here I share:

  • Share my approach to day trading futures and
  • Explain my day trading strategies that can be applied to futures markets such as the E Mini S&P 500, crude oil futures, euro currency, and others.
  • Review some of the technical indicators you see on the charts
  • Detail my day trading money management philosophy

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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 1421.03 2810.67 13183 825.13 82.28
Resistance 2 1416.42 2800.33 13157 819.97 82.06
Resistance 1 1412.83 2792.67 13128 816.63 81.72
Pivot 1408.22 2782.33 13102 811.47 81.50
Support 1 1404.63 2774.67 13073 808.13 81.15
Support 2 1400.02 2764.33 13047 802.97 80.93
Support 3 1396.43 2756.67 13018 799.63 80.59

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 1692.3 1.2723 98.24 150 16/32
Resistance 2 1683.6 1.2652 97.39 150 2/32
Resistance 1 1676.5 1.2610 96.84 149 19/32
Pivot 1667.8 1.2539 95.99 149 5/32
Support 1 1660.7 1.2497 95.44 148 22/32
Support 2 1652.0 1.2426 94.59 148 8/32
Support 3 1644.9 1.2384 94.04 147 25/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 809.8 885.3 1752.50 3162.7
Resistance 2 806.7 883.2 1740.75 3134.3
Resistance 1 801.1 879.3 1731.50 3114.2
Pivot 797.9 877.2 1719.75 3085.8
Support 1 792.3 873.3 1710.5 3065.7
Support 2 789.2 871.2 1698.75 3037.3
Support 3 783.6 867.3 1689.50 3017.2


5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:54pm Currency Impact Detail Actual Forecast Previous Graph
Wed

Aug 29
All Day EUR
German Prelim CPI m/m
0.1% 0.4%
 4:00am EUR
Italian Retail Sales m/m
-0.1% -0.2%
8:30am USD
Prelim GDP q/q
1.7% 1.5%
8:30am USD
Prelim GDP Price Index q/q
1.6% 1.6%
10:00am USD
Pending Home Sales m/m
1.1% -1.4%
10:30am USD
Crude Oil Inventories
-1.1M -5.4M
2:00pm USD
Beige Book
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: Future Trading News  

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