Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Strong up move fizzeled towards the close. More reports early morning tomorrow as well as Bernanke speaking some more.
Expect more volatility tomorrow. Trade with stops and try to implement whats your maximum daily loss you are willing to take.
LEVELS:
| Contract (Sept. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1293.27 | 1536.67 | 11408.33 | 735.08 |
| Resistance 2 | 1281.13 | 1523.33 | 11247.67 | 721.67 |
| Resistance 1 | 1271.57 | 1506.67 | 11146.33 | 712.33 |
| Pivot | 1259.43 | 1493.33 | 10985.67 | 698.92 |
| Support 1 | 1249.87 | 1476.67 | 10884.33 | 689.58 |
| Support 2 | 1237.73 | 1463.33 | 10723.67 | 676.17 |
| Support 3 | 1228.17 | 1446.67 | 10622.33 | 666.83 |
| | | | | |
| Contract (Sept 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.8745 | 1.2862 | 106 22/32 | 109 14/32 |
| Resistance 2 | 1.8606 | 1.2762 | 106 2/32 | 108 18/32 |
| Resistance 1 | 1.8529 | 1.2704 | 105 24/32 | 108 3/32 |
| Pivot | 1.8390 | 1.2604 | 105 4/32 | 107 7/32 |
| Support 1 | 1.8313 | 1.2546 | 104 26/32 | 106 24/32 |
| Support 2 | 1.8174 | 1.2446 | 104 6/32 | 105 28/32 |
| Support 3 | 1.8097 | 1.2388 | 103 28/32 | 105 13/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, Jul 20th, 2006
Economic
08:30am Initial Jobless Claims (last 332K)
10:00am Jun Leading Indicators (last –0.6%), Fed's Bernanke gives semi-annual report to House Financial Services Committee
10:30am Natural Gas Inventories
11:00am Treasury's 20-year TIPS funding announcement
12:00am Jul Philadelphia Fed (last 13.1)
02:00pm Minutes of Jun. 20 FOMC Meeting
Events
Trading Ex-split: RS 2-1.
Earnings
Before the Open: ACMR AME ARB AGIX AVCI BAX BBT BLS BHE BOT CHIC CHZ CPS CMA CAL CBE CY DHR DJ DHI ELNK EFX EXAR FCS FITB F GNTX GDW HSY HON IEX ITW IMCL IGT IONA KVHI LSTR LOGI MMR MDC MEDI NE NOK NCX NVR BTU PFE PPG REDF RS RIMG SWY SAP SCHL POOL SEIC SHW SLM SPWR SY SMMX SYNT TXT TRAD TZOO UTEK UNP USAP USAK VTNC WB WSO WFT WCC WYE. During Trading Hours: VIVO. After the Close: AMD AMGN ATR AVID BRCM BTUI BUCY COF CERN CHRT COHU CPWR DST FFIV FDC FBC FSL GILD GOOG HAL HUBG HTCH HYSL INFA NSIT IWOV XXIA LAUR LEG MENT MCHP MSFT MDCC MROI NDAQ OO OMCL PKTR PDFS PMCS RLI RSAS SCST SWKS SYK TPX XPRSA VRSN XLNX ZHNE.
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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