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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, February 14, 2006

Trading levels and reports for Feb 15th

Dear Trader,
 

Today we saw more signs of what I believe to be increased volatility coming back into the SP futures (and other stock index futures) on an intraday basis. I think that for the most part 2005 was missing intraday volatility and was the main reason many systems and traders had a hard time. If I am correct and volatility picks up intraday , it should be a good thing for day-traders as day-traders need intraday range wide enough to execute their set ups. On the same token, increased volatility also demands better money management on the part of the trader. It does not take much to get “killed“ in a volatile day and loss a large percentage of your account in one day.

 

Be smart, be ready and always make sure you stay alive to trade another day…..

 
LEVELS:
 
Contract (March 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1303.50 1703.67 11245.00 742.58
Resistance 2 1292.40 1688.83 11155.00 733.42
Resistance 1 1285.30 1678.17 11100.00 727.58
Pivot 1274.20 1663.33 11010.00 718.42
Support 1 1267.10 1652.67 10955.00 712.58
Support 2 1256.00 1637.83 10865.00 703.42
Support 3 1248.90 1627.17 10810.00 697.58
         
Contract (March 2006) British Pound Euro Ten Years  US Bonds 
Resistance 3 1.7467 1.2006 108  4/32 112 26/32
Resistance 2 1.7415 1.1971 107 31/32 112 18/32
Resistance 1 1.7386 1.1950 107 27/32 112 10/32
Pivot 1.7334 1.1915 107 22/32 112  2/32
Support 1 1.7305 1.1894 107 18/32 111 26/32
Support 2 1.7253 1.1859 107 13/32 111 18/32
Support 3 1.7224 1.1838 107  9/32 111 10/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, February 15, 2006

Economic
08:30am Feb Empire Manufacturing (last 20.1)
09:00am Dec Net Foreign Security Purchases (last $89.1B)
09:15am Jan Industrial Production (last 0.6%), Capacity Utilization (last 80.7%)
10:00am Bernanke Report to House Financial Services Committee on Economy and Fed Policy
10:30am Crude Oil/Gasoline/Distillate Inventories
01:00pm Feb NAHB Housing Market Index (last 57)
Events
MBA Mortgage Applications (7:00, last –1.2%). UBS Global Healthcare Services Conference in NYC through 2/15. Lehman Industrial Select Conference in Miami through 2/16. Merrill Lynch Insurance Conference in NYC through 2/16. UBS Natural Gas & Electric Utilities Conference in NYC through 2/16. DB Small Cap Growth Conference in FL through 2/17. Treasury's Snow testifies at Senate Budget Committee at 2:00pm. Trading Ex-split: WGOV 3-1. Trades Ex-dividend: MSFT 1.35, MCO 0.44.
Earnings
Before the Open: ARTC BXC CMX CEN XEC DAKT DVA DSX ECA ENDP FE GENZ HC JNY KEA KVHI TVL ODP ZEUS PKD PFCB PDS PGN RRA SSYS MDCO TOO THS YCC. After the Close: ACAP AGP AMAT AQNT AZR BIIB CECO CBR CLF CCRT DENN DGIN HILL DTE ESPD EXPE FST GPRO GSIC GTRC HPQ LIOX MVSN NANO NTAP QDEL RNDC SONO SMA SNPS.
 
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 1:11 PM

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