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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, July 11, 2006

Trading levels and reports for July 12th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
The market is in an "in between zone". We broker 1273 level early today but rallied off the next level at 1268.
 
Day-traders can trade this market fromboth sides, just stay nimble and have stops in place. Don't get stuck with a one direction view. Good trading.
 
LEVELS:
 
Contract (Sept. 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1300.87 1581.83 11373.00 739.33
Resistance 2 1291.53 1565.42 11294.00 729.67
Resistance 1 1286.17 1554.83 11245.00 724.33
Pivot 1276.83 1538.42 11166.00 714.67
Support 1 1271.47 1527.83 11117.00 709.33
Support 2 1262.13 1511.42 11038.00 699.67
Support 3 1256.77 1500.83 10989.00 694.33
         
Contract (Sept 2006) British Pound Euro Ten Years   US Bonds 
Resistance 3 1.8636 1.2931 105 17/32 107 30/32
Resistance 2 1.8568 1.2884 105 12/32 107 22/32
Resistance 1 1.8532 1.2858 105  7/32 107 14/32
Pivot 1.8464 1.2811 105  2/32 107  6/32
Support 1 1.8428 1.2785 104 30/32 106 30/32
Support 2 1.8360 1.2738 104 25/32 106 22/32
Support 3 1.8324 1.2712 104 20/32 106 14/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, Jul 12th, 2006


Economic
08:30am May Trade Balance (last -$63.4B)
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
Deadline for response from Iran on nuclear enrichment issue set for today. MBA Mortgage Applications (7:00, last 5.9%). CIBC Consumer Growth conference in Boston through 7/12. Fed Nominee Mishkin testifies before Senate Banking Committee at 10:30am. ASMI, ENTG, KLIC analyst meetings. PMTI replaces LSCP in S&P Smallcap 600 after the close of trading. Trades Ex-dividend: MS $0.27.
Earnings
Before the Open: AIR ACGY CBSH GCI HITK MTB WWW. After the Close: RECN TKLC.
 
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 1:09 PM

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