Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
FOMC day lived up to expectations with a few headfakes and some strong , two sided moves following the announcement.
My bias based on the market reaction is for a bit more downside pressure in the next couple of days.
LEVELS:
| Contract (Sept. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1299.60 | 1531.50 | 11423.00 | 718.43 |
| Resistance 2 | 1293.40 | 1520.00 | 11364.00 | 711.97 |
| Resistance 1 | 1284.60 | 1505.00 | 11283.00 | 700.73 |
| Pivot | 1278.40 | 1493.50 | 11224.00 | 694.27 |
| Support 1 | 1269.60 | 1478.50 | 11143.00 | 683.03 |
| Support 2 | 1263.40 | 1467.00 | 11084.00 | 676.57 |
| Support 3 | 1254.60 | 1452.00 | 11003.00 | 665.33 |
| | | | | |
| Contract (Sept 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.9275 | 1.3015 | 106 29/32 | 110 1/32 |
| Resistance 2 | 1.9218 | 1.2972 | 106 24/32 | 109 26/32 |
| Resistance 1 | 1.9160 | 1.2926 | 106 19/32 | 109 12/32 |
| Pivot | 1.9103 | 1.2883 | 106 14/32 | 109 5/32 |
| Support 1 | 1.9045 | 1.2837 | 106 8/32 | 108 23/32 |
| Support 2 | 1.8988 | 1.2794 | 106 3/32 | 108 16/32 |
| Support 3 | 1.8930 | 1.2748 | 105 30/32 | 108 2/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, Aug 9th, 2006
Economic
10:00am Jun Wholesale Inventories (last 0.8%)
10:30am Crude Oil/Gasoline/Distillate Inventories
01:00pm Treasury's 10-year Note Auction results
Events
MBA Mortgage Applications (7:00, last –1.2%). Bear Stearns India Conference in NYC through 8/9. CIBC Enterprise Software conference in NYC through 8/10. BofA Specialty Pharmaceutical conference in NYC through8/11. TOL update call. Trades Ex-dividend: BA $0.30, PFE $0.24. Apple's World Wide Developer's Conference in SF through 8/11.
Earnings
Before the Open: LEND ASEI RMK ASFI AVT BECN BRY BCRX BXC CSE CBI CNSL DK DQE DYN EFD EPL FD FWLT FTD HB HSP HGSI IMAX NRGY IFOX IIJI IPG JRCC KG LNY LCRY LFUS MIC MCCC NOVN PRGO HAWK SVNT TRK RMIX VIA.B WTI DIS WCI WON. After the Close: KDE ACS AIG ARII ATO ABTL BORL EPAY CALP CD COGO COSI CTRP DSX DTSI ECLG FICC HIMX IO IPAR KNTA LGF NWS OPTV PRSC STAK STXS SYMM THC NCTY TLCV UDRL URS USI WTHN WMD INT.
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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