Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Another volatile day following FOMC.
My bias is still towards the downside, although with the wider ranges and stronger volatility, there are plenty of set ups for both long and short.
Plan your trade, set a stop, set a target and stay discipline.
LEVELS:
| Contract (Sept. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1313.00 | 1554.67 | 11416.33 | 709.83 |
| Resistance 2 | 1300.50 | 1539.83 | 11345.67 | 704.17 |
| Resistance 1 | 1293.50 | 1517.67 | 11231.33 | 693.33 |
| Pivot | 1281.00 | 1502.83 | 11160.67 | 687.67 |
| Support 1 | 1274.00 | 1480.67 | 11046.33 | 676.83 |
| Support 2 | 1261.50 | 1465.83 | 10975.67 | 671.17 |
| Support 3 | 1254.50 | 1443.67 | 10861.33 | 660.33 |
| | | | | |
| Contract (Sept 2006) | British Pound | Euro | Ten Years | US Bonds |
| Resistance 3 | 1.9261 | 1.3093 | 106 21/32 | 109 10/32 |
| Resistance 2 | 1.9192 | 1.3015 | 106 17/32 | 109 2/32 |
| Resistance 1 | 1.9124 | 1.2951 | 106 14/32 | 108 30/32 |
| Pivot | 1.9055 | 1.2873 | 106 10/32 | 108 22/32 |
| Support 1 | 1.8987 | 1.2809 | 106 8/32 | 108 18/32 |
| Support 2 | 1.8918 | 1.2731 | 106 4/32 | 108 10/32 |
| Support 3 | 1.8850 | 1.2667 | 106 1/32 | 108 6/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, Aug 10th, 2006
Economic
08:30am Initial Jobless Claims (last 315K), Jun Trade Balance (last -$63.8B)
10:30am Natural Gas Inventories
01:00pm Treasury's 30-year Bond Auction results
02:00pm Jul Monthly Budget Statement (last -$53.4B)
Events
CIBC Enterprise Software conference in NYC through 8/10. BofA Specialty Pharmaceutical conference in NYC through8/11. CME replace KMG in S&P 500 after the close. Trades Ex-dividend: ROK $0.225. Apple's World Wide Developer's Conference in SF through 8/11.
Earnings
Before the Open: FLWS AAP AIRN UHAL STST BVF BGG EAT CRZO CYCL DISH FBST FS HNR JJZ JCP JADE MOVI OVRL PGN TGT TOMO THS URBN WW. During Trading Hours: PARL. After the Close: ACW ADI ANGO AXCA BAS BGFV CREE ELX EXPE FMD GG HEES KSS NVDA PSUN RRGB SNS VMC.
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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