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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, May 08, 2006

Trading levels and reports for May 8th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Nice rally Friday on the heels of un-employment reports which the market took as a sign that the Fed may be done with raising rates.
 
1334-1336 is the next resistance on the June SP.
 
Make it a good trading week.
 
LEVELS:
 
Contract (June 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1342.93 1738.00 11785.00 795.75
Resistance 2 1337.07 1731.50 11700.00 791.75
Resistance 1 1333.73 1727.00 11650.00 788.75
Pivot 1327.87 1720.50 11565.00 784.75
Support 1 1324.53 1716.00 11515.00 781.75
Support 2 1318.67 1709.50 11430.00 777.75
Support 3 1315.33 1705.00 11380.00 774.75
         
Contract (June 2006) British Pound Euro Ten Years  US Bonds 
Resistance 3 1.8812 1.2904 105 30/32 107 29/32
Resistance 2 1.8724 1.2854 105 21/32 107 13/32
Resistance 1 1.8662 1.2811 105 15/32 106 31/32
Pivot 1.8574 1.2761 105  6/32 106 15/32
Support 1 1.8512 1.2718 105      106  1/32
Support 2 1.8424 1.2668 104 23/32 105 17/32
Support 3 1.8362 1.2625 104 17/32 105  3/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Monday, May 8th, 2006


Economic
None Seen
Events
Jefferies Gaming/Lodging/Media/Entertainment Conference in Las Vegas through 5/10. Trades Ex-dividend: AEP $0.37, HET $0.3625, IBM $0.30.
Earnings
Before the Open: AES ARII EIX ETM FTO HW HNT HOC IART ISTA LPMA NBR NNDS NSTC PKE SALM SVM. After the Close: ARXX AQNT ARNA AUDC AVNX BLKB BBBB CPE CEGE CMG CCRT CCRN CUTR TRAK DIGE DTSI EGLE EAGL FLR FTI FST GGP SRVY INPC IN LIOX MCHX MIVA OPMR OSIP PTEC QGEN SAX SBAC PKS SONS SYKE TOA TLCV UHCO USIH VCLK WGII WGRD WCAA WCG ZIPR.
 
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 6:24 AM

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