Trading Levels and Reports for July 10, 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 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.
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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 | 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
