Trading Levels and Reports for June 27, 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 Friday July 27, 2012
Hello Traders,
Comforting words out of Europe helped the stock market bounce nicely today.
Also the end of the month is approaching, which in recent months we saw some rallies during the last few days of the month.
With that being said, I still think the market has equal chances of going either way. You can see my daily chart below with possible upside targets (marked with -3-) and possible downside targets (marked with -4-).
Be patient, be disciplined!
Also please like us on Facebook!!
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 | 1371.67 | 2624.67 | 12985 | 805.40 | 84.77 |
| Resistance 2 | 1364.93 | 2609.33 | 12930 | 794.30 | 84.31 |
| Resistance 1 | 1359.97 | 2593.67 | 12880 | 784.00 | 83.58 |
| Pivot | 1353.23 | 2578.33 | 12825 | 772.90 | 83.12 |
| Support 1 | 1348.27 | 2562.67 | 12775 | 762.60 | 82.39 |
| Support 2 | 1341.53 | 2547.33 | 12720 | 751.50 | 81.93 |
| Support 3 | 1336.57 | 2531.67 | 12670 | 741.20 | 81.20 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | Aug Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds | |
| Resistance 3 | 1645.4 | 1.2593 | 92.96 | 153 7/32 | |
| Resistance 2 | 1633.5 | 1.2465 | 91.71 | 152 31/32 | |
| Resistance 1 | 1624.1 | 1.2380 | 90.56 | 152 20/32 | |
| Pivot | 1612.2 | 1.2252 | 89.31 | 152 12/32 | |
| Support 1 | 1602.8 | 1.2167 | 88.16 | 152 1/32 | |
| Support 2 | 1590.9 | 1.2039 | 86.91 | 151 25/32 | |
| Support 3 | 1581.5 | 1.1954 | 85.76 | 151 14/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Sept. Silver | |
| Resistance 3 | 803.7 | 903.7 | 1632.67 | 2833.3 | |
| Resistance 2 | 796.1 | 899.3 | 1617.83 | 2805.7 | |
| Resistance 1 | 786.2 | 891.7 | 1592.67 | 2776.3 | |
| Pivot | 778.6 | 887.3 | 1577.83 | 2748.7 | |
| Support 1 | 768.7 | 879.7 | 1552.7 | 2719.3 | |
| Support 2 | 761.1 | 875.3 | 1537.83 | 2691.7 | |
| Support 3 | 751.2 | 867.7 | 1512.67 | 2662.3 |
5. Economic Reports
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
| Date | 3:27pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
| Fri
Jul 27
|
All Day | EUR |
German Prelim CPI m/m
|
0.4% | -0.1% | ||||
| 3:00am | EUR |
Spanish Unemployment Rate
|
24.7% | 24.4% | |||||
| 8:30am | USD |
Advance GDP q/q
|
1.5% | 1.9% | |||||
| 8:30am | USD |
Advance GDP Price Index q/q
|
1.6% | 2.0% | |||||
| 9:55am | USD |
Revised UoM Consumer Sentiment
|
72.0 | 72.0 | |||||
| 9:55am | USD |
Revised UoM Inflation Expectations
|
2.8% |
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
