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posted by Cannon Trading at 11:01 AM
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*To be removed, please reply with remove daytrading in subject line
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Good Morning- Option expiration day is know for its high volatility and 2 sides trading action. Have a great trading day!
| Daily | Mini- June 09 | Mini-Nasdaq 100 Futures June 09 | Mini-Dow Futures June 09 | Mini Russell 2000 Futures June 09 | 30-year June 09 | 10-Year U Futures June 09 |
| | 831.50 | 1293.00 | 7814 | 447.50 | 12423 | 12126 |
| | 845.25 | 1318.00 | 7945 | 458.50 | 12518 | 12219 |
| | 853.75 | 1333.00 | 8007 | 465.30 | 12604.5 | 12222 |
| Résistance 1 | 867.50 | 1358.00 | 8119 | 476.30 | 12621.5 | 12231.5 |
| Résistance 2 | 871.00 | 1376.00 | 8234 | 484.50 | 12630.5 | 12304.5 |
| Résistance 3 | 876.00 | 1394.00 | 8400 | 491.70 | 12714.5 | 12313.5 |
Friday, April 17, 2009
Economic
9:55am April prelim Univ of Michigan confidence (last 57.3)
Events
8:30am Fed's Hoenig speaks at Fed conference in
Earnings
Before the Open: AO
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Sincerely,
Ilan Levy-Mayer, M.B.A
Vice President
Cannon Trading Co Inc.
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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.
posted by Cannon Trading at 7:38 AM
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Market gave up some gains and bounced slightly off the 50% retracement from the 810-861 move, right around 836.
LOTS of economic numbers tomorrow (in addition to the ongoing earnings reports) and that will determine if we will seee 830-820-810 levels or if the rally from last week will resume and 861 will be taken out .
My guess (and it is really a pure speculation on my part) is that selling pressure will prevail for the next couple of days, i.e. lower prices.
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 866.93 | 1362.50 | 8077 | 478.53 |
| Resistance 2 | 860.07 | 1349.25 | 8023 | 472.57 |
| Resistance 1 | 850.03 | 1336.50 | 7957 | 462.53 |
| Pivot | 843.17 | 1323.25 | 7903 | 456.57 |
| Support 1 | 833.13 | 1310.50 | 7837 | 446.53 |
| Support 2 | 826.27 | 1297.25 | 7783 | 440.57 |
| Support 3 | 816.23 | 1284.50 | 7717 | 430.53 |
| Contract | June Gold | June Euro | May Crude Oil | June Bonds |
| Resistance 3 | 910.57 | 1.3509 | 53.05 | 129 29/32 |
| Resistance 2 | 905.13 | 1.3443 | 52.09 | 128 30/32 |
| Resistance 1 | 897.97 | 1.3353 | 50.78 | 128 11/32 |
| Pivot | 892.53 | 1.3287 | 49.82 | 127 12/32 |
| Support 1 | 885.37 | 1.3197 | 48.51 | 126 25/32 |
| Support 2 | 879.93 | 1.3131 | 47.55 | 125 26/32 |
| Support 3 | 872.77 | 1.3041 | 46.24 | 125 7/32 |
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
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9301 Wilshire Blvd. Suite #515
Beverly Hills, Ca 90210
posted by Cannon Trading at 1:22 PM
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posted by Cannon Trading at 12:57 PM
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Market opened lower, tested support at 842 and never looked back.
If the action we had on both Thursday and today was done during "normal trading days" and not during what I call "Holiday Mode", I would say that it is quite bullish. However, because the rally took place during the day before and after Easter on light volume, I will need to see some proof coming up the rest of this week when more volume comes back into the market.
Some important economic reports are due the rest of the week along with option expiration day on Friday.
Some levels to watch for are: 861, 873 on the way up. 848, 839 and 823 on the way down.
Good Trading!
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 884.23 | 1371.00 | 8232 | 485.47 |
| Resistance 2 | 872.77 | 1357.50 | 8146 | 477.13 |
| Resistance 1 | 864.63 | 1348.00 | 8083 | 471.97 |
| Pivot | 853.17 | 1334.50 | 7997 | 463.63 |
| Support 1 | 845.03 | 1325.00 | 7934 | 458.47 |
| Support 2 | 833.57 | 1311.50 | 7848 | 450.13 |
| Support 3 | 825.43 | 1302.00 | 7785 | 444.97 |
| Contract | June Gold | June Euro | May Crude Oil | June Bonds |
| Resistance 3 | 921.33 | 1.3734 | 55.08 | 129 22/32 |
| Resistance 2 | 911.27 | 1.3562 | 53.62 | 128 18/32 |
| Resistance 1 | 903.03 | 1.3467 | 51.77 | 127 27/32 |
| Pivot | 892.97 | 1.3295 | 50.31 | 126 23/32 |
| Support 1 |
