Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Some big reports tomorrow.
Recent days/ weeks volatility is the highest I have seen in the last 2 years. I encourage you to trade with stops. The market moves so fast at times that you can get caught "frozen" and lose most of your trading capital if not all in one trading day.
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1289.13 | 1631.67 | 11341.67 | 744.50 |
| Resistance 2 | 1277.97 | 1611.83 | 11263.33 | 731.80 |
| Resistance 1 | 1269.33 | 1598.17 | 11201.67 | 722.40 |
| Pivot | 1258.17 | 1578.33 | 11123.33 | 709.70 |
| Support 1 | 1249.53 | 1564.67 | 11061.67 | 700.30 |
| Support 2 | 1238.37 | 1544.83 | 10983.33 | 687.60 |
| Support 3 | 1229.73 | 1531.17 | 10921.67 | 678.20 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.9071 | 1.3057 | 106 14/32 | 108 15/32 |
| Resistance 2 | 1.8976 | 1.2988 | 106 9/32 | 108 5/32 |
| Resistance 1 | 1.8849 | 1.2889 | 106 | 107 23/32 |
| Pivot | 1.8754 | 1.2820 | 105 27/32 | 107 13/32 |
| Support 1 | 1.8627 | 1.2721 | 105 19/32 | 106 31/32 |
| Support 2 | 1.8532 | 1.2652 | 105 14/32 | 106 21/32 |
| Support 3 | 1.8405 | 1.2553 | 105 5/32 | 106 7/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, May 25th, 2006
Economic
08:30am Initial Jobless Claims (last 367K), Q1 Preliminary GDP Annualized (last 4.8%), GDP Price Index (last 3.3%), Personal Consumption (last 5.5%), Core PCE (last 2.0%)
10:00am Apr Existing Home Sales (last 6.92M), Help Wanted Index (last 38)
10:30am Natural Gas Inventories
01:00pm Treasury's 5-year Note auction results
Events
LSTR, SUPG, VRSN Analyst meetings. Goldman Sachs Basic Materials conference in NYC through 5/25. UBS Global Oil and Gas Conference in Austin through 5/25. Goldman Sachs Internet conference in Las Vegas through 5/25. BKMU replaces SVC in S&P SmallCap 600 after the close of trading. Fed's Olson speaks on Community Development in DC at 5:00pm. Trades Ex-dividend: ATI $0.10, JNJ $0.375.
Earnings
Before the Open: BLI BWS FLO HRL JOYG PDCO PDC RL SAFM TTC UNFI. After the Close: AGIL CHS CMOS CYBX DITC FRNT.
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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