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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, September 28, 2006

Trading levels and reports for Sept. 28th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Narrow trading range today as we approach new highs, however it feels to me as the market is getting scared/out of momentum at these levels.
 
If we don't see fresh buying interest in the next two sessions, I think we are in for a correction.
 
LEVELS:
 
Contract (Dec.. 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1357.90 1700.67 11869.33 752.17
Resistance 2 1354.10 1690.33 11832.67 747.58
Resistance 1 1350.70 1681.67 11799.33 742.42
Pivot 1346.90 1671.33 11762.67 737.83
Support 1 1343.50 1662.67 11729.33 732.67
Support 2 1339.70 1652.33 11692.67 728.08
Support 3 1336.30 1643.67 11659.33 722.92
         
Contract (Dec. 2006) Dec. Gold Euro Dec. Ten Years  Dec. US Bonds 
Resistance 3 620.6000 1.2843 108 19/32 113  6/32
Resistance 2 616.5000 1.2816 108 15/32 112 31/32
Resistance 1 613.7000 1.2787 108 10/32 112 22/32
Pivot 609.6000 1.2760 108  7/32 112 15/32
Support 1 606.8000 1.2731 108  2/32 112  6/32
Support 2 602.7000 1.2704 107 30/32 111 31/32
Support 3 599.9000 1.2675 107 25/32 111 22/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Friday, Sep 29th, 2006


Economic
08:30am Aug Personal Income (last 0.5%), Personal Spending (last 0.8%), PCE Deflator YoY (last 3.4%), PCE Core (last 0.1%)
09:45am Sep Final U. of Michigan Confidence (last 84.4)
10:00am Sep Chicago Purchasing Manager (last 57.1)
Events
National Mammography Quality Assurance Advisory Committee meets at 8:00am. Prudential Best Ideas conference in Vermont through 9/29. Fed's Poole speaks on Data Dependence in Tennessee at 10:00am. Fed's Moskow gives Introductory Remarks at Chicago conference at 1:00pm.
Earnings
Before the Open: AZZ GPN MAG. 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 1:30 PM

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