Cannon Trading Futures Blog: Daily Support and Resistance Levels Blog

Thursday, August 28, 2008

Futures Trading levels and Economic reports for August 29th

*To be removed, please reply with remove daytrading in subject line

Dear Trader,

The market rallied today (for a change I was right when I wrote two days ago that a break of 1277 can trigger 1300...). However, volume was low and we have a long weekend ahead of us so I am curious to see the market action tomorrow on the last trading day for August and ahead of Labor Day weekend.

LEVELS:

Contract (Sept. 2008)	SP500 (big & Mini)	Nasdaq100 (big & Mini)	Dow Jones (big & Mini)	Mini Russell
Resistance 3	1315.33	1943.67	12060	773.87
Resistance 2	1307.67	1934.33	11886	760.83
Resistance 1	1303.33	1923.67	11792	753.37
Pivot	1295.67	1914.33	11618	740.33
Support 1	1291.33	1903.67	11524	732.87
Support 2	1283.67	1894.33	11350	719.83
Support 3	1279.33	1883.67	11256	712.37

Contract	Dec Gold	Sept. Euro	Oct. Crude Oil	Sept. Bonds
Resistance 3	867.97	1.6240	125.72	120
Resistance 2	858.83	1.5600	123.11	119 16/32
Resistance 1	848.77	1.5480	119.30	119 6/32
Pivot	839.63	1.5380	116.69	118 22/32
Support 1	829.57	1.5305	112.88	118 11/32
Support 2	820.43	1.5209	110.27	117 27/32
Support 3	810.37	1.5820	106.46	117 17/32

REPORTS (CST): Provided by MF Global Research

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

8/29	8:45	AUG	Chicago Purchasing Manager	- -	50	- -	50.8
FRI	9:00	AUG F	U. of Michigan Confidence	- -	62	- -	61.7
	9:00	AUG	NAPM-Milwaukee	- -	- -	- -	44

Note all time are CST. ANY AND ALL TIMES AND DATES ARE SUBJECT TO CHANGE WITHOUT NOTICE. INFORMATION HAS BEEN TAKEN FROM SOURCES DEEMED TO BE RELIABLE, BUT NO ASSURANCES CAN BE MADE TO THE ACCURACY OF ANY OF THIS INFORMATION.

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!

Sincerely,

Ilan Levy-Mayer, M.B.A

Vice President / commodity broker
Cannon Trading Co Inc. - home of online futures trading
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannontrading.com

Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #515
Beverly Hills, Ca 90210

* Important Please Note:

IMPORTANT PLEASE NOTE: TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS. THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS. THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Wednesday, August 27, 2008

Futures Trading levels and Economic reports for August 28th