Trading Levels and Reports for July 17, 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 Monday July 17, 2012
Hello Traders,
WORTH SHARING…from my colleague Dave Register of www.ExitPoints.com
The seven deadly sins for futures traders
1) Overtrading or underfunding your account
2) Chasing performance
3) Using an over optimized system
4) Failure to Always use Stop loss orders
5) Commissions too high
6) Large slippage in illiquid markets
7) Emotional Trading
Visit their blog to learn about trading ideas on weekly basis and let us know if you would like more information about their trading system!
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 | 1360.07 | 2604.33 | 12759 | 805.83 | 84.28 |
| Resistance 2 | 1356.03 | 2594.17 | 12729 | 802.07 | 84.03 |
| Resistance 1 | 1351.27 | 2582.83 | 12689 | 798.03 | 83.64 |
| Pivot | 1347.23 | 2572.67 | 12659 | 794.27 | 83.39 |
| Support 1 | 1342.47 | 2561.33 | 12619 | 790.23 | 83.00 |
| Support 2 | 1338.43 | 2551.17 | 12589 | 786.47 | 82.75 |
| Support 3 | 1333.67 | 2539.83 | 12549 | 782.43 | 82.36 |
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 | 1614.2 | 1.2442 | 91.04 | 153 12/32 | |
| Resistance 2 | 1604.4 | 1.2372 | 89.76 | 152 27/32 | |
| Resistance 1 | 1596.8 | 1.2325 | 88.97 | 152 8/32 | |
| Pivot | 1587.0 | 1.2255 | 87.69 | 151 23/32 | |
| Support 1 | 1579.4 | 1.2208 | 86.90 | 151 4/32 | |
| Support 2 | 1569.6 | 1.2138 | 85.62 | 150 19/32 | |
| Support 3 | 1562.0 | 1.2091 | 84.83 | 150 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Sept. Silver | |
| Resistance 3 | 793.0 | 893.0 | 1612.67 | 2808.5 | |
| Resistance 2 | 785.5 | 889.5 | 1604.83 | 2775.5 | |
| Resistance 1 | 779.0 | 887.0 | 1597.67 | 2752.0 | |
| Pivot | 771.5 | 883.5 | 1589.83 | 2719.0 | |
| Support 1 | 765.0 | 881.0 | 1582.7 | 2695.5 | |
| Support 2 | 757.5 | 877.5 | 1574.83 | 2662.5 | |
| Support 3 | 751.0 | 875.0 | 1567.67 | 2639.0 |
5. Economic Reports
source:http://www.forexfactory.com/calendar.php
| Date | 4:43pm | Currency | Impact | Detail | Actual | Forecast | Previous | Chart | |
|
Tue
Jul 17 |
5:00am | EUR |
German ZEW Economic Sentiment
|
 |
-17.3 |
-16.9
|
 |
||
| 5:00am | EUR |
ZEW Economic Sentiment
|
|
-18.3 |
-20.1
|
|
|||
| 8:30am | USD |
Core CPI m/m
|
|
0.2% |
0.2%
|
|
|||
| 8:30am | USD |
CPI m/m
|
|
0.0% |
-0.3%
|
|
|||
| 9:00am | USD |
TIC Long-Term Purchases
|
 |
45.7B |
25.6B
|
|
|||
| 9:15am | USD |
Capacity Utilization Rate
|
|
79.2% |
79.0%
|
|
|||
| 9:15am | USD |
Industrial Production m/m
|
|
0.4% |
-0.1%
|
|
|||
| 10:00am | USD |
Fed Chairman Bernanke Testifies
|
|
||||||
| 10:00am | USD |
NAHB Housing Market Index
|
|
30 |
29
|
|
|||
| 1:15pm | USD |
FOMC Member Pianalto Speaks
|
|
All times are Eastern time Zone (EST)
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
