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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, May 11, 2006

Trading levels and reports for May12th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Like I thought, we were able to see the real reaction to yesterdays rate hike in todays session, which while being just as volatile, was much less erratic and provided better trade set ups. Have a good trading Friday and a great weekend.
 
LEVELS:
 
Contract (June 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1344.07 1733.00 11826.33 791.95
Resistance 2 1335.93 1717.50 11754.67 785.10
Resistance 1 1323.57 1691.00 11648.33 772.70
Pivot 1315.43 1675.50 11576.67 765.85
Support 1 1303.07 1649.00 11470.33 753.45
Support 2 1294.93 1633.50 11398.67 746.60
Support 3 1282.57 1607.00 11292.33 734.20
         
Contract (June 2006) British Pound Euro Ten Years  US Bonds 
Resistance 3 1.9288 1.3134 105 19/32 107 12/32
Resistance 2 1.9078 1.3019 105 13/32 107  1/32
Resistance 1 1.8961 1.2947 105  6/32 106 19/32
Pivot 1.8751 1.2832 105      106  8/32
Support 1 1.8634 1.2760 104 26/32 105 26/32
Support 2 1.8424 1.2645 104 20/32 105 15/32
Support 3 1.8307 1.2573 104 13/32 105  1/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Friday, May 12th, 2006


Economic
08:30am Apr Import Price Index (last –0.4%), Mar Trade Balance (last -$65.7B)
09:45am May Preliminary U. of Michigan Confidence (last 87.4)
Events
SSYS, WY Analyst meetings. E3 Expo in Los Angeles through 5/12.
Earnings
Before the Open: DRS VLCCF MAG. After the Close: HOM.
 
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 1:19 PM

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