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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, March 08, 2006

Roll Over notice + Trading levels and reports for March 9th

 
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Dear Trader,
 

Stock Index Rollover notice

For those of you trading the "Big" S&P 500 futures, E-Mini futures, or any Stock Index contract, it is extremely important to remember that tomorrow - Thursday, March 9th - is rollover day. It is recommended that all new positions be placed in the June 2006 contract as of Thursday's trade date. GLOBEX will not roll over until Thursday morning at 8:30 A.M. Central Time, despite the fact that the trade date changes today - Wednesday afternoon.

Further, please be aware that the executing brokers in the March contract of the "Big" S&P 500 and NASDAQ 100 will not be "held" on ANY order, and that they will not take Cancel and Replace orders at all beginning Friday March10th. Also, please be aware of liquidity issues in the 2nd step E-Mini S&P and E-Mini NASDAQ. Expect sharply decreased liquidity in the March contract beginning Thursday morning. Carefully consider whether you wish to place Market or Stop orders after that time.

Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.

If you have any questions, please contact us.

 
LEVELS:
 
Contract (March 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1297.17 1701.00 11159.33 738.00
Resistance 2 1289.43 1686.50 11094.67 731.25
Resistance 1 1284.47 1676.00 11051.33 727.00
Pivot 1276.73 1661.50 10986.67 720.25
Support 1 1271.77 1651.00 10943.33 716.00
Support 2 1264.03 1636.50 10878.67 709.25
Support 3 1259.07 1626.00 10835.33 705.00
         
Contract (June 2006) British Pound Euro Ten Years  US Bonds 
Resistance 3 1.7494 1.2023 107  6/32 111  4/32
Resistance 2 1.7458 1.1984 107  1/32 110 30/32
Resistance 1 1.7417 1.1955 106 30/32 110 26/32
Pivot 1.7381 1.1916 106 26/32 110 20/32
Support 1 1.7340 1.1887 106 23/32 110 16/32
Support 2 1.7304 1.1848 106 18/32 110 10/32
Support 3 1.7263 1.1819 106 15/32 110  6/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, March 09, 2006

Economic
08:30am Initial Jobless Claims (last 294K), Jan Trade Balance (last -$65.7B)
10:30am Natural Gas Inventories
01:00pm Treasury's 10-year Note Auction results
Events
Blood Products Advisory Committee meeting at 8:00am through 3/10. Fed's Moskow speaks at Chicago Fed's Detroit Branch opening at 9:00am. Fed's Kohn dedicates Chicago Fed Branch in Detroit at 9:20am. SG Cowen Healthcare Conference in Boston through 3/9. JMP Securities Research Conference in SF through 3/9. Bear Stearns Retail, Restaurants & Consumer Conference in NYC through 3/10. Lehman Brother Global Healthcare Conference in Miami through 3/10. Fed's Geithner speaks on Global Economies and Trade in NYC at 1:00pm. Trades Ex-dividend: BNI 1.01, CI 0.08, FDX 0.29.
Earnings
Before the Open: ALOG WTR BBI CMN CTIC PLCE CLE CMLS CBUK DEBS EAGL FLE FS GTI HANS IMAX IDCC METH NOBH OMG ORCH PA ZQK RHB STGS TRGL URBN. During Trading Hours: NSM. After the Close: ARO DWA HIBB IFOX JILL JUPM KWD MCDTA RCI SFCC SSAG.
 
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!

Sincerely,

Ilan Levy-Mayer, M.B.A

Vice President
Cannon Trading Co Inc.
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannoncapital.com

Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #614
Beverly Hills, Ca 90210

The finest compliment I can receive is a referral from a trusted client.
 
* Important Please Note: 
Trading commodity futures and options involves substantial risk of loss. 
The recommendations contained in this letter is of opinion only and does not guarantee any profits.
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 1:19 PM

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