Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Tomorrow's economic reports, here and in Europe should provide the spark for either a break above today's high and start of a new leg up or a repeat of the last few weeks where the market was trading between 1300 to 1321.
Key level to watch in early trading is 1316.
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1331.47 | 1774.33 | 11417.00 | 784.25 |
| Resistance 2 | 1326.33 | 1762.67 | 11362.00 | 778.25 |
| Resistance 1 | 1322.57 | 1754.83 | 11327.00 | 774.50 |
| Pivot | 1317.43 | 1743.17 | 11272.00 | 768.50 |
| Support 1 | 1313.67 | 1735.33 | 11237.00 | 764.75 |
| Support 2 | 1308.53 | 1723.67 | 11182.00 | 758.75 |
| Support 3 | 1304.77 | 1715.83 | 11147.00 | 755.00 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.7764 | 1.2435 | 106 24/32 | 109 20/32 |
| Resistance 2 | 1.7699 | 1.2399 | 106 21/32 | 109 15/32 |
| Resistance 1 | 1.7628 | 1.2372 | 106 19/32 | 109 12/32 |
| Pivot | 1.7563 | 1.2336 | 106 15/32 | 109 7/32 |
| Support 1 | 1.7492 | 1.2309 | 106 13/32 | 109 4/32 |
| Support 2 | 1.7427 | 1.2273 | 106 10/32 | 108 31/32 |
| Support 3 | 1.7356 | 1.2246 | 106 8/32 | 108 28/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, Apr 6th, 2006
Economic
07:00am BoE rate decision
07:45am ECB's rate decision
08:30am Initial Jobless Claims (last 302K)
10:30am Natural Gas Inventories
Events
Fed's Kroszner speaks on Banking Intergration in London at 3:30am. Same-Store Sale Reports Before the Open - including ANN ANF BEBE BJ CHRS CHS COST CVS DDS DG FDO FD GPS GES GYMB JCP JOSB JWN KSS LTD NWY PIR PLCE PSUN ROST SKS SHRP SMRT TLB TGT TJX WMT. Treasury's Snow testifies at Senate Appropriations Subcommittee at 9:30am. TS Analyst meeting. Trades Ex-dividend: VZ $0.405.
Earnings
Before the Open: AM ISCA MTRX MOV PIR RAD RPM. After the Close: STZ LWSN RIMM.
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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