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Trading Levels and Reports for July 10, 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 Tuesday July 10, 2012

Hello Traders,

It’s been a while since I took an in depth look at the different markets and below you will see the daily chart of the mini SP as I see it. Possible short. I think a break below 1333 can trigger a revisit of the 1300 area.

 

Keep in mind we have a week full of reports along with FOMC minutes on Wednesday.

 

Also be aware that I am “seeing summer trading volume” or in plain language, thinner volume than normal which can create a different trading dynamics for intraday traders.

 

mini Sp 500 daily chart july 9th 2012

 

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 1359.07 2642.00 12787 812.70 83.90
Resistance 2 1354.23 2629.00 12743 808.80 83.76
Resistance 1 1350.87 2617.00 12712 805.90 83.53
Pivot 1346.03 2604.00 12668 802.00 83.40
Support 1 1342.67 2592.00 12637 799.10 83.17
Support 2 1337.83 2579.00 12593 795.20 83.03
Support 3 1334.47 2567.00 12562 792.30 82.80

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract Aug Gold Sept. Euro Aug Crude Oil Sept. Bonds
Resistance 3 1612.4 1.2425 89.28 151 26/32
Resistance 2 1602.7 1.2381 87.88 151 8/32
Resistance 1 1595.3 1.2355 86.80 150 29/32
Pivot 1585.6 1.2311 85.40 150 11/32
Support 1 1578.2 1.2285 84.32 150
Support 2 1568.5 1.2241 82.92 149 14/32
Support 3 1561.1 1.2215 81.84 149 3/32

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

Contract Dec. Corn Sept. Wheat Nov. Beans Sept. Silver
Resistance 3 742.7 850.3 1590.83 2820.0
Resistance 2 737.8 845.8 1580.42 2784.0
Resistance 1 733.9 837.0 1564.08 2759.0
Pivot 729.1 832.5 1553.67 2723.0
Support 1 725.2 823.8 1537.3 2698.0
Support 2 720.3 819.3 1526.92 2662.0
Support 3 716.4 810.5 1510.58 2637.0

 

5. Economic Reports

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

All times are Eastern time Zone (EST)

 

Date 3:36pm Currency Impact Detail Actual Forecast Previous Chart
Tue

Jul 10

2:45am EUR
French Industrial Production m/m
-0.9%
1.5%
4:00am EUR
Italian Industrial Production m/m
-0.3%
-1.9%
All Day EUR
ECOFIN Meetings
10:00am USD
IBD/TIPP Economic Optimism
46.9
46.7

 

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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