Cannon Trading Futures Blog: Daily Support and Resistance Levels
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
As expected, volatile moves right after the rate decision. When it was all said and done, the market was pretty much un-changed......
In the past I noticed that the "day after" can sometimes provide the real indication of the market direction and provide with better day-trading set ups as the moves are not as erratic.
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1339.53 | 1729.83 | 11778.00 | 788.90 |
| Resistance 2 | 1334.67 | 1722.92 | 11739.00 | 785.20 |
| Resistance 1 | 1331.23 | 1711.83 | 11709.00 | 781.70 |
| Pivot | 1326.37 | 1704.92 | 11670.00 | 778.00 |
| Support 1 | 1322.93 | 1693.83 | 11640.00 | 774.50 |
| Support 2 | 1318.07 | 1686.92 | 11601.00 | 770.80 |
| Support 3 | 1314.63 | 1675.83 | 11571.00 | 767.30 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.8872 | 1.2950 | 105 31/32 | 107 29/32 |
| Resistance 2 | 1.8808 | 1.2909 | 105 24/32 | 107 15/32 |
| Resistance 1 | 1.8739 | 1.2868 | 105 14/32 | 107 |
| Pivot | 1.8675 | 1.2827 | 105 6/32 | 106 18/32 |
| Support 1 | 1.8606 | 1.2786 | 104 28/32 | 106 3/32 |
| Support 2 | 1.8542 | 1.2745 | 104 21/32 | 105 21/32 |
| Support 3 | 1.8473 | 1.2704 | 104 11/32 | 105 6/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, May 11th, 2006
Economic
08:30am Initial Jobless Claims (last 322K), Apr Advance Retail Sales (last 0.6%), Retail Sales Less Autos (last 0.4%), Mar Business Inventories (last 0.0%)
10:30am Natural Gas Inventories
01:00pm Treasury's 10-year Note Auction results
Events
BOOT, FLSH, ITWO, MWY, VIGN Analyst meetings. GOOG Annual meeting. 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. Needham Internet/Digital Media Conference in NYC. E3 Expo in Los Angeles through 5/12. Fed's Moskow gives welcome remarks at Payments Conference in Chicago at 11:15am. Fed's Kohn speaks at Payments Conference in Chicago at 11:30am. Trades Ex-dividend: DD $0.37, EXC $0.40, LEH $0.12, ROK $0.225.
Earnings
Before the Open: ARXT PLB ACAT STST BVF COSI DISH FBST GTIV JJZ JCP MOVI CHUX PA SNDS KNOT THS URBN. After the Close: JOBS ADPT AEM ADI EXPE KSS MANU NVDA PSUN STEL WSTL.
Friday, May 12th, 2006
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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