Week Ahead: What to Watch Out For + Trading Levels for August 8th 2023 - Support & Resistance Levels %

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

Week Ahead: What to Watch Out For + Trading Levels for August 8th 2023

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The Week Ahead, by John Thorpe, Senior Broker

A sleepy week for market moving info EXCEPT!….     if you are trading the financial futures products you look for earnings reports and economic numbers to fuel the big moves you can profit ( or lose…) from, this week we have….

Well, the major earnings reports seem to be behand us but we still have companies that are proxies for gauging economic health,  this week’s biggest one is UPS, on Tuesday before the open.   Yellow trucking is bankrupt, what say UPS and it’s delivery wagons?  I snipped this from Seeking Alpha The consensus EPS estimate is $2.50 and the consensus revenue estimate is $23.12 billion.

  • Over the last 2 years, UPS has beaten EPS estimates 88% of the time and has beaten revenue estimates 63% of the time.

Fewer economic numbers this week but we have a whopper on Thursday early, July CPI will be released at 7:30 am CDT

PPI is on Friday morning and for you stalwart grain traders Friday @ 9:00 CDT WASDE, Crop production and USDA Supply and Demand , these numbers are critical to marketing efforts this time of year and could create large price swings call you broker and ask about grain options before the reports to take advantage of Friday Grain Volatility and beyond!



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 when it comes to Futures Trading.

Futures Trading Levels


#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG


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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 here in 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 judgement in trading.

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