Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Todays rally was strong and steady and suggests more upside potantial if we can clear the old high of 1210-1211 from January. However and not to sound like a broken records, rallies often can terminate very quickly so you must be ready for both sides of the trade.
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1331.03 | 1750.00 | 11370.33 | 760.10 |
| Resistance 2 | 1320.27 | 1727.50 | 11307.67 | 751.40 |
| Resistance 1 | 1314.53 | 1716.00 | 11269.33 | 746.90 |
| Pivot | 1303.77 | 1693.50 | 11206.67 | 738.20 |
| Support 1 | 1298.03 | 1682.00 | 11168.33 | 733.70 |
| Support 2 | 1287.27 | 1659.50 | 11105.67 | 725.00 |
| Support 3 | 1281.53 | 1648.00 | 11067.33 | 720.50 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.7697 | 1.2215 | 107 31/32 | 112 3/32 |
| Resistance 2 | 1.7601 | 1.2160 | 107 21/32 | 111 20/32 |
| Resistance 1 | 1.7543 | 1.2123 | 107 14/32 | 111 11/32 |
| Pivot | 1.7447 | 1.2068 | 107 4/32 | 110 28/32 |
| Support 1 | 1.7389 | 1.2031 | 106 29/32 | 110 19/32 |
| Support 2 | 1.7293 | 1.1976 | 106 19/32 | 110 4/32 |
| Support 3 | 1.7235 | 1.1939 | 106 12/32 | 109 27/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, March 15, 2006
Economic
08:30am Mar Empire Manufacturing (last 20.3), Feb Import Price Index (last 1.3%)
09:00am Jan Net Foreign Security Purchases (last $56.6B)
10:30am Crude Oil/Gasoline/Distillate Inventories
01:00pm Mar NAHB Housing Market Index (last 57)
02:00pm Fed's Beige Book
Events
MBA Mortgage Applications (7:00, last 0.7%). DB Technology Conference in Miami through 3/15. AG Edwards Energy Conference in Boston through 3/15. BofA Consumer Conference in NYC through 3/16. Citigroup Small/Mid Cap Conference in Las Vegas through 3/16. Montgomery Technology Conference in Santa Monica through 3/15. Morgan Stanley Global Electricity & Energy Conference in NYC through 3/16. RTEC mid-Q update. BRCD, FNSR analyst meeting. Fed's Guynn speaks about Economic Outlook in Atlanta at 7:30pm. Fed's Yellen speaks on Economy in Australia at 9:00pm. Trading Ex-split: BMHC 2-1, GWR 3-2, PALM 2-1. Trades Ex-dividend: BDK $0.38.
Earnings
Before the Open: CHRS GDP LEH POP ROST SMTS. After the Close: CMVT COSI GYMB HOTT IO KNTA PRSC ULCM VRNT ZUMZ.
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.
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