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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, May 15, 2006

Trading levels and reports for May 15th + invitation to chat room

 
 
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Dear Trader,
 
Last week we saw the market starting very quiet with tight range and then following the FOMC volatility just exploded!
 
This can happen at any day, during any period of time and it's the main reason I highly recommend using what I call "daily loss limit", i.e. always know what's the most you are willing to loss on any given day and when that happens, have the discipline to flatten yourself and walk away.
 
This may be one of the toughest things a trader has to do and very few can do that but it may be the biggest key to trading survival.
 
Have a great trading week.
 

Millennium-Traders.com

 

 

 

 

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LEVELS:
 
Contract (June 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1320.00 1673.00 11630.33 763.78
Resistance 2 1314.50 1666.50 11582.67 759.27
Resistance 1 1304.50 1654.00 11495.33 750.53
Pivot 1299.00 1647.50 11447.67 746.02
Support 1 1289.00 1635.00 11360.33 737.28
Support 2 1283.50 1628.50 11312.67 732.77
Support 3 1273.50 1616.00 11225.33 724.03
         
Contract (June 2006) British Pound Euro Ten Years  US Bonds 
Resistance 3 1.9212 1.3133 105  3/32 106  8/32
Resistance 2 1.9112 1.3061 105      106  1/32
Resistance 1 1.9032 1.3007 104 27/32 105 26/32
Pivot 1.8932 1.2935 104 24/32 105 19/32
Support 1 1.8852 1.2881 104 20/32 105 12/32
Support 2 1.8752 1.2809 104 17/32 105  5/32
Support 3 1.8672 1.2755 104 12/32 104 30/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Monday, May 15th, 2006


Economic
08:30am May Empire Manufacturing (last 15.8)
09:00am Mar Net Foreign Security Purchases (last $86.9B)
01:00am May NAHB Housing Market Index (last 50)
Events
UBS Global Financial Services Conference in NYC through 5/17. Trades Ex-dividend: MSFT $0.09. SAFT replaces SYD in S&P SmallCap 600 at close of trading.
Earnings
Before the Open: JADE NTE NVAX PETS ROC TGT VAL. After the Close: A DEIX GG HOM JAS NTES NINE OSIS SHMR.
 
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 6:27 AM

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