Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
FOMC tomorrow and Wednesday + lots of earnings coming out. Be prepared for changing volatility and times of dead markets like today and times of fast moving markets like we will probably see Wednesday.
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1333.47 | 1734.17 | 11663.33 | 790.80 |
| Resistance 2 | 1332.13 | 1731.08 | 11646.67 | 788.20 |
| Resistance 1 | 1329.67 | 1726.17 | 11626.33 | 785.95 |
| Pivot | 1328.33 | 1723.08 | 11609.67 | 783.35 |
| Support 1 | 1325.87 | 1718.17 | 11589.33 | 781.10 |
| Support 2 | 1324.53 | 1715.08 | 11572.67 | 778.50 |
| Support 3 | 1322.07 | 1710.17 | 11552.33 | 776.25 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.8821 | 1.2901 | 105 16/32 | 107 2/32 |
| Resistance 2 | 1.8760 | 1.2862 | 105 13/32 | 106 28/32 |
| Resistance 1 | 1.8681 | 1.2805 | 105 9/32 | 106 23/32 |
| Pivot | 1.8620 | 1.2766 | 105 6/32 | 106 17/32 |
| Support 1 | 1.8541 | 1.2709 | 105 3/32 | 106 12/32 |
| Support 2 | 1.8480 | 1.2670 | 105 | 106 6/32 |
| Support 3 | 1.8401 | 1.2613 | 104 28/32 | 106 1/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, May 9th, 2006
Economic
10:00am Mar Wholesale Inventories (last 0.8%)
01:00pm Treasury's 3-year Note Auction results
Events
AHC begins trading as HES today. ICSC/UBSW Chain Store Sales (7:45, last 5.3%). Redbook Retail Sales (8:55, last 5.1%). BK, FNM, KBH, TXN Analyst meetinig. E3 Expo in Los Angeles through 5/12. Jefferies Gaming/Lodging/Media/Entertainment Conference in Las Vegas through 5/10. Bear Stearns Global Transportation Conference in NYC through 5/10. CIBC Media/Internet/Telecom Conference in Boston through 5/10. DA Davidson Financial Services conference in Seattle through 5/10. Merrill Lynch Metals/Mining/Steel Conference in Miami through 5/11. ABC Consumer Confidence (last -13). Trading Ex-split: LTR 3-1. Trades Ex-dividend: ETR $0.54. BKMU replaces SVC in S&P SmallCap 600 at close of trading.
Earnings
Before the Open: AMRI ANPI AACC ASFI BRY BIOS BLT BRNC CVC CSE CE CHD CTCO XTXI DYN EPL ENTG GIVN GKIS GTI GAP HANS HELE HB HSP IMAX KPA VTIV KCS KG KOSP LAMR LAZ TVL MAC TMR MNTA NRG OMG OPTN ORBK ORA PSTI PEC PNW PXD PCP PGN RTIX SLE BID SRZ SYD THC LCC WRNC WPI WW WCI WGR. During Trading Hours: SNHY. After the Close: AZPN ASYT ADBL BIDU BAS BBG BLTI CELL CAMP CPKI CRL CSCO HILL ECLG ENER ESPD KEYW EXEL FCH GSX SOLD HUMC IDTI INCX IVII IPAS JUPM KOPN LEAP LTRE MTSN MRX MTLG MFLX MYL UEPS NVTL NTN NUHC NUAN RSCR SAPE SFCC SINA SLNK STAK STXS SYMC TMTA UTI VSTA DIS WTW WFII.
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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