Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
FOMC rate decision tomorrow. Market is widely anticipating rates to rise by .25% and traders will watch the language closely. Most FOMC days can be very volatile, so be careful. Announcement comes at 14:15 eastern time.
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1335.40 | 1754.17 | 11743.00 | 789.18 |
| Resistance 2 | 1333.10 | 1739.33 | 11704.00 | 787.37 |
| Resistance 1 | 1330.90 | 1744.67 | 11683.00 | 785.13 |
| Pivot | 1328.60 | 1729.83 | 11644.00 | 783.32 |
| Support 1 | 1326.40 | 1735.17 | 11623.00 | 781.08 |
| Support 2 | 1324.10 | 1720.33 | 11584.00 | 779.27 |
| Support 3 | 1321.90 | 1725.67 | 11563.00 | 777.03 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.8909 | 1.2960 | 105 13/32 | 107 1/32 |
| Resistance 2 | 1.8805 | 1.2889 | 105 10/32 | 106 25/32 |
| Resistance 1 | 1.8734 | 1.2837 | 105 8/32 | 106 21/32 |
| Pivot | 1.8630 | 1.2766 | 105 4/32 | 106 13/32 |
| Support 1 | 1.8559 | 1.2714 | 105 2/32 | 106 9/32 |
| Support 2 | 1.8455 | 1.2643 | 104 31/32 | 106 1/32 |
| Support 3 | 1.8384 | 1.2591 | 104 29/32 | 105 29/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, May 10th, 2006
Economic
10:30am Crude Oil/Gasoline/Distillate Inventories
02:00pm Apr Monthly Budget Statement (last $57.7B)
02:15pm FOMC Rate Decision expected
04:00pm Treasury's Currency Report to be released
Events
MBA Mortgage Applications (7:00, last 8.8%). BN, NCS, NTRS, WST Analyst meetings. 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. Goldman Sachs Consumer Products Conference in NYC through 5/11. Piper Jaffray Hardware/Communications Conference in NYC through 5/11. E3 Expo in Los Angeles through 5/12. Trading Ex-split: ANST 2-1. Trades Ex-dividend: XOM $0.32, PFE $0.24.
Earnings
Before the Open: ALVR RMK BECN BNT CNSL CRYP CMLS DQE ENCY XJT FWLT GISX GMCR HS IIJI IPG LM MGPI MEND MSA MT NTBK NICE HAWK POP SGDE STE TEVA TOMO URI URS WSSI WEDC. During Trading Hours: SAM. After the Close: AIRN AIG ABTL BGFV BORL DCEL IFOX IO IPAR JKHY LEV NKTR NWS.A OPTV PSEM PRSC TALX TRMS OVEN UDRL INT.
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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