Trading Levels and Reports for August 29, 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 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
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GOOD TRADING!
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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
|
