Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Back from a quick vacation. Hope everyone enjoyed the holiday and are ready for a full week of trading.
Traders may want to pay attention again to crude oil prices as it seems the inverse correlation has returned.
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1316.07 | 1762.33 | 11323.33 | 769.67 |
| Resistance 2 | 1307.53 | 1746.17 | 11264.67 | 764.08 |
| Resistance 1 | 1303.77 | 1728.33 | 11197.33 | 759.67 |
| Pivot | 1295.23 | 1712.17 | 11138.67 | 754.08 |
| Support 1 | 1291.47 | 1694.33 | 11071.33 | 749.67 |
| Support 2 | 1282.93 | 1678.17 | 11012.67 | 744.08 |
| Support 3 | 1279.17 | 1660.33 | 10945.33 | 739.67 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.8025 | 1.2547 | 106 4/32 | 108 11/32 |
| Resistance 2 | 1.7895 | 1.2442 | 105 30/32 | 108 |
| Resistance 1 | 1.7802 | 1.2371 | 105 25/32 | 107 22/32 |
| Pivot | 1.7672 | 1.2266 | 105 18/32 | 107 11/32 |
| Support 1 | 1.7579 | 1.2195 | 105 13/32 | 107 1/32 |
| Support 2 | 1.7449 | 1.2090 | 105 7/32 | 106 22/32 |
| Support 3 | 1.7356 | 1.2019 | 105 2/32 | 106 12/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, Apr 18th, 2006
Economic
08:30am Mar Producer Price Index (last –1.4%), PPI Ex Food & Energy (last 0.3%), Housing Starts (last 2.12M), Building Permits (last 2.18M)
02:00pm Minutes of Mar. 28 FOMC Meeting
Events
ICSC/UBSW Chain Store Sales (7:45, last 7.0%). Redbook Retail Sales (8:55, last 3.3%). JCP Analyst meeting. Fed's Yellen speaks on Economy at conference in San Jose at 11:45am. Fed's Moskow speaks at Auto Industry conference in Detroit at 12:05pm. Fed's Warsh speaks on Financial Risk in Atlanta at 2:00. ABC Consumer Confidence (last -9). Trading Ex-split: AVD 4-3, NBR 2-1.
Earnings
Before the Open: AOS ADTN ASO BSX DJ DHI EMMS FITB FCX GGXY IMN JEF JNJ KEY MTB MAN MAT MEL MER NCC NTRS PH BTU PBG RBNC STT SVU TZOO UIS UAG UNH USB VIP WFC. After the Close: ALL AMGN BCR CYMI GILD IBM LLTC MOT PLXT RLRN RLI STX SOV TER TXN TSS TRMK USNA WM YHOO.
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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