Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Volatility continues to dominate the market along with the bear camp....
LEVELS:
| Contract (June 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1287.60 | 1623.67 | 11325.67 | 738.33 |
| Resistance 2 | 1279.80 | 1612.08 | 11261.33 | 730.17 |
| Resistance 1 | 1270.90 | 1599.17 | 11192.67 | 723.08 |
| Pivot | 1263.10 | 1587.58 | 11128.33 | 714.92 |
| Support 1 | 1254.20 | 1574.67 | 11059.67 | 707.83 |
| Support 2 | 1246.40 | 1563.08 | 10995.33 | 699.67 |
| Support 3 | 1237.50 | 1550.17 | 10926.67 | 692.58 |
| | | | | |
| Contract (June 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.9218 | 1.3153 | 106 8/32 | 108 8/32 |
| Resistance 2 | 1.9056 | 1.3032 | 106 4/32 | 108 1/32 |
| Resistance 1 | 1.8964 | 1.2959 | 105 30/32 | 107 20/32 |
| Pivot | 1.8802 | 1.2838 | 105 26/32 | 107 13/32 |
| Support 1 | 1.8710 | 1.2765 | 105 20/32 | 107 |
| Support 2 | 1.8548 | 1.2644 | 105 16/32 | 106 25/32 |
| Support 3 | 1.8456 | 1.2571 | 105 10/32 | 106 12/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, May 23rd, 2006
Economic
10:00am May Richmond Fed Manufacturing Index (last 18)
Events
ICSC/UBSW Chain Store Sales (7:45, last 3.7%). Redbook Retail Sales (8:55, last 3.3%). GTRC, HIG, MNRO, PBR, WHR Analyst meeting. Radiological Devices Panel of the Medical Devices Advisory Committee meets at 9:30am. Fed's Bernanke, Treasury's Snow and SEC's Cox will testify in front of Senate Banking Committee on financial literacy at 10:00am. JPMorgan Technology conference in SF through 5/24. Lehman Worldwide Wireless/Wireline conference in NYC through 5/23. Morgan Stanley Media/Communications conference in DC through 5/24. UBS Enterprise Technology conference in NYC through 5/24. Goldman Sachs Basic Materials conference in NYC through 5/25. UBS Global Oil and Gas Conference in Austin through 5/25. ABC Consumer Confidence (last -17). Trading Ex-split: CMC 2-1, TTI 2-1.
Earnings
Before the Open: CBRL MNRO PERY SCMR TECD TOL. After the Close: BGP CSC DY MDT PHHM PVH SIGM.
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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