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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, July 13, 2006

Trading levels and reports for July 14th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Mid-east tensions helped send the stock market to the path of least resistance which in my eyes is still down.
 
Be aware that when volatility rises, you need to be even more selective in choosing your trades. Getting in and placing tight stops , will result in you getting whippsawed of your position because of increased volatility. Choose your entry wisely in a way that you can place stops that will give you a chance to stay in the market.
 
LEVELS:
 
Contract (Sept. 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1276.10 1542.00 11140.00 713.67
Resistance 2 1269.90 1530.50 11085.00 708.58
Resistance 1 1259.20 1510.00 10985.00 698.42
Pivot 1253.00 1498.50 10930.00 693.33
Support 1 1242.30 1478.00 10830.00 683.17
Support 2 1236.10 1466.50 10775.00 678.08
Support 3 1225.40 1446.00 10675.00 667.92
         
Contract (Sept 2006) British Pound Euro Ten Years   US Bonds 
Resistance 3 1.8658 1.2848 105 21/32 107 31/32
Resistance 2 1.8579 1.2817 105 15/32 107 24/32
Resistance 1 1.8520 1.2782 105 12/32 107 19/32
Pivot 1.8441 1.2751 105  6/32 107 12/32
Support 1 1.8382 1.2716 105  3/32 107  7/32
Support 2 1.8303 1.2685 104 29/32 107     
Support 3 1.8244 1.2650 104 26/32 106 27/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Friday, Jul 14th, 2006


Economic
08:30am Jun Import Price Index (last 1.6%), Advance Retail Sales (last 0.1%), Retail Sales Less Autos (last 0.5%)
09:45am Jul Preliminary U. of Michigan Confidence (last 84.9)
10:00am May Business Inventories (last 0.4%)
Events
G8 summit in St. Petersburg, Russia starts July 15 through July 17
Earnings
Before the Open: GE RF. After the Close: None.
 
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 1:24 PM

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