Cannon Trading Futures Blog: Daily Support and Resistance Levels
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Market took out the 1268 level but stopped before the next support at 1263.
Good bounces and sell offs along the way, which are good market conditions for flexible traders. My bias is still for weaker prices in the long run but ona day to day basis or even minutes to minutes if you are an active day-trader you must have a set of rules and set ups you have confidence in, so you can trade with comfort and not out of fear.
LEVELS:
| Contract (Sept. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1295.37 | 1569.33 | 11335.33 | 729.90 |
| Resistance 2 | 1288.43 | 1556.92 | 11271.67 | 724.70 |
| Resistance 1 | 1278.37 | 1536.83 | 11177.33 | 715.15 |
| Pivot | 1271.43 | 1524.42 | 11113.67 | 709.95 |
| Support 1 | 1261.37 | 1504.33 | 11019.33 | 700.40 |
| Support 2 | 1254.43 | 1491.92 | 10955.67 | 695.20 |
| Support 3 | 1244.37 | 1471.83 | 10861.33 | 685.65 |
| | | | | |
| Contract (Sept 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.8644 | 1.2925 | 105 17/32 | 108 |
| Resistance 2 | 1.8577 | 1.2881 | 105 10/32 | 107 21/32 |
| Resistance 1 | 1.8472 | 1.2819 | 105 6/32 | 107 14/32 |
| Pivot | 1.8405 | 1.2775 | 104 31/32 | 107 3/32 |
| Support 1 | 1.8300 | 1.2713 | 104 28/32 | 106 28/32 |
| Support 2 | 1.8233 | 1.2669 | 104 21/32 | 106 17/32 |
| Support 3 | 1.8128 | 1.2607 | 104 17/32 | 106 10/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, Jul 13th, 2006
Economic
08:30am Initial Jobless Claims (last 313K)
10:30am Natural Gas Inventories
01:00pm Treasury's 10-year TIPS auction results
02:00pm Jun Monthly Budget Statement (last -$42.8B)
Events
Bank of Japan's Monetary Policy meeting begins today and will last for two days. Fed's Stearn speaks on Economic Outlook in Montana at 3:15pm.
Earnings
Before the Open: FLE FLOW JRC MAR MNI MEG METH PEP PII PGR TXI TRB. After the Close: CAMP CTAS ESIO IFIN.
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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