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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, February 09, 2006

Trading Levels and reports for Feb 10th

Dear Trader,
 

The market action today may signal further downside tomorrow.

We had a run up and then a failure to break upper resistance followed by downside momentum.

 

The other alternative is that we will see increased volatility and two sided action for a while until the market will asses Bernake point of view on interest rates.

 

Either way, today was a good day-trading day for those of you who like to go in and out several times a day as the market presented tradable set ups on both sides. Make it a great Friday tomorrow.

 
LEVELS:
 
Contract (March 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1286.37 1709.67 11040.00 737.33
Resistance 2 1281.93 1699.33 11005.00 733.57
Resistance 1 1274.07 1678.67 10950.00 726.53
Pivot 1269.63 1668.33 10915.00 722.77
Support 1 1261.77 1647.67 10860.00 715.73
Support 2 1257.33 1637.33 10825.00 711.97
Support 3 1249.47 1616.67 10770.00 704.93
         
Contract (March 2006) British Pound Euro Ten Years  US Bonds 
Resistance 3 1.7487 1.2055 108 23/32 114  4/32
Resistance 2 1.7461 1.2032 108 16/32 113 19/32
Resistance 1 1.7428 1.2012 108  9/32 113  7/32
Pivot 1.7402 1.1989 108  3/32 112 22/32
Support 1 1.7369 1.1969 107 28/32 112 10/32
Support 2 1.7343 1.1946 107 21/32 111 25/32
Support 3 1.7310 1.1926 107 14/32 111 13/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Friday, February 10, 2006

Economic
08:30am Dec Trade Balance (last -$64.2B)
02:00pm Jan Monthly Budget Statement (last $8.6B)
Events
Cellular, Tissue and Gene Therapies Advisory Committee through 2/10 at 8:00am. Drug Safety and Risk Management Advisory Committee through 2/10 at 8:00am. PFE analyst meeting.
Earnings
Before the Open: AU ACI BPO DP ECL MTD SCG VMSI VC. After the Close: None Seen.
 
Note all time are EST. 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!

posted by Cannon Trading at 1:05 PM

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