Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
We are trading at "interesting levels" where the Dow cash made a new high but the other indices are failing to follow. I think we can expect more volatility in the upcoming sessions, either as the market closes above the new high or on a failure.
LEVELS:
| Contract (Dec.. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1360.80 | 1691.00 | 11952.33 | 739.68 |
| Resistance 2 | 1354.30 | 1677.00 | 11887.67 | 733.97 |
| Resistance 1 | 1349.00 | 1666.00 | 11841.33 | 728.23 |
| Pivot | 1342.50 | 1652.00 | 11776.67 | 722.52 |
| Support 1 | 1337.20 | 1641.00 | 11730.33 | 716.78 |
| Support 2 | 1330.70 | 1627.00 | 11665.67 | 711.07 |
| Support 3 | 1325.40 | 1616.00 | 11619.33 | 705.33 |
| | | | | |
| Contract (Dec. 2006) | Dec. Gold | Euro | Dec. Ten Years | Dec. US Bonds |
| Resistance 3 | 604.6667 | 1.2850 | 108 17/32 | 113 4/32 |
| Resistance 2 | 599.8333 | 1.2833 | 108 14/32 | 112 31/32 |
| Resistance 1 | 590.6667 | 1.2805 | 108 10/32 | 112 24/32 |
| Pivot | 585.8333 | 1.2788 | 108 7/32 | 112 19/32 |
| Support 1 | 576.6667 | 1.2760 | 108 3/32 | 112 12/32 |
| Support 2 | 571.8333 | 1.2743 | 108 | 112 7/32 |
| Support 3 | 562.6667 | 1.2715 | 107 28/32 | 112 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, Oct 4th, 2006
Economic
08:15am Sep ADP Employment Change (last 107K)
10:00am Sep ISM Non-manufacturing (last 57.0), Aug Factory Orders (last –0.6%)
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
MBA Mortgage Applications (7:00, last –4.9%). Joint Meeting of the Endocrinologic and Metabolic Drugs Advisory Committee and the Advisory Committee for Pharmaceutical Science at8:00am. QCOM and BRCM Chairman expected to meet with judge. CIBC Boston Biotech Bus Tour through 10/4. Fed's Geithner speaks on Emerging Markets in DC at 12:00pm. Fed's Bernanke speaks on Savings in DC at 12:45pm. After the Close - AEOS ARO HOTT MW ZUMZ. Trades Ex-dividend: BMY $0.28, GD $0.23, JPM $0.34, MDT $0.11. Fed's Kohn speaks on Economic Outlook in NYC at 7:30pm.
Earnings
Before the Open: RPM WWW. After the Close: ARRO CPRT OXM VTS.
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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