Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Be careful of the increased volatility. Learn to set yourself with a "daily loss limit" to prevent a case where you are having a bad trading day and your losses accumulate much more than you were willing to allow because you were trading with emotions and not discipline. Use of stops is highly recommended as markets move vary fast at times. Good trading.
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1306.57 | 1643.67 | 11664.33 | 747.27 |
| Resistance 2 | 1299.13 | 1634.33 | 11569.67 | 742.48 |
| Resistance 1 | 1284.57 | 1619.67 | 11390.33 | 734.37 |
| Pivot | 1277.13 | 1610.33 | 11295.67 | 729.58 |
| Support 1 | 1262.57 | 1595.67 | 11116.33 | 721.47 |
| Support 2 | 1255.13 | 1586.33 | 11021.67 | 716.68 |
| Support 3 | 1240.57 | 1571.67 | 10842.33 | 708.57 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.9239 | 1.3132 | 105 24/32 | 107 2/32 |
| Resistance 2 | 1.9137 | 1.3041 | 105 16/32 | 106 22/32 |
| Resistance 1 | 1.8989 | 1.2911 | 105 8/32 | 106 9/32 |
| Pivot | 1.8887 | 1.2820 | 105 | 105 29/32 |
| Support 1 | 1.8739 | 1.2690 | 104 24/32 | 105 16/32 |
| Support 2 | 1.8637 | 1.2599 | 104 16/32 | 105 4/32 |
| Support 3 | 1.8489 | 1.2469 | 104 8/32 | 104 23/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, May 18th, 2006
Economic
08:30am Initial Jobless Claims (last 324K)
10:00am Apr Leading Indicators (last –0.1%)
10:30am Natural Gas Inventories
12:00am May Philadelphia Fed (last 13.2)
Events
Fed's Warsh lead panel at Hedge Fund conference at 8:30am. Fed's Moskow gives Welcome Remarks at Banking conference at 9:15am. Fed's Bernanke speak at Banking Conference in Chicago at 9:30am. Vaccines and Related Biological Products Advisory Committee meets at 9:00am through 5/19. BofA Healthcare Conference in Nevada through 5/18. Bear Stearns Mortgage Finance/Housing Markets Conference in NYC through 5/19. Fed's Lacker speaks at Bank Conference in Virginia at 10:45am. Fed's Guynn speak at Hedge Fund conference in Georgia at 11:45am. Fed's Poole speaks on Yield-Curve Inversion in Philadelphia at 11:45am. Greenspan speaks at Bond Market Association in NYC at 5:30pm. ITRI, MAT, VVUS Analyst meetings.
Earnings
Before the Open: AAP BKS CMRG PLCE CLE DEBS KONG LTD NWY SHLD SCVL SSI SMRT STP. After the Close: ADIC ARO ALKS ADSK BRCD CTRN CPWM DELL FMCN GPS HIBB MRVL JWN RRGB SNS STXN SUPX.
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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