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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, October 16, 2006

Trading levels and reports for Oct. 17th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 

This the first update in more than 10 days as I was working from home recovering from appendicitis surgery. I will be back in the office tomorrow. Hope everyone is doing well.

 

The market continues to make new highs as the buzz is around for the Dow cash to hit 12,000. Today’s climb was done on very low volume as traders are waiting for influx of economic data this week, with PPI tomorrow, CPI Wednesday and lots of housing data in between. Don’t have a good feel for where this market is heading but it would sure be nice to see a bit more room between the highs and lows….

 

Trade well.
 
LEVELS:
 
Contract (Dec.. 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1385.43 1755.67 12113.33 785.75
Resistance 2 1381.77 1751.83 12081.67 780.50
Resistance 1 1379.03 1746.67 12058.33 777.50
Pivot 1375.37 1742.83 12026.67 772.25
Support 1 1372.63 1737.67 12003.33 769.25
Support 2 1368.97 1733.83 11971.67 764.00
Support 3 1366.23 1728.67 11948.33 761.00
         
Contract (Dec. 2006) Dec. Gold Euro Dec. Ten Years  Dec. US Bonds 
Resistance 3 603.8333 1.2639 107 10/32 110 30/32
Resistance 2 601.3667 1.2609 107  6/32 110 26/32
Resistance 1 599.9333 1.2592 107  3/32 110 21/32
Pivot 597.4667 1.2562 106 31/32 110 17/32
Support 1 596.0333 1.2545 106 29/32 110 12/32
Support 2 593.5667 1.2515 106 25/32 110  8/32
Support 3 592.1333 1.2498 106 22/32 110  3/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Tuesday, Oct 17th, 2006


Economic
08:30am Sep Producer Price Index (last 0.1%), PPI Ex Food & Energy (last –0.4%)
09:00am Aug Net Foreign Security Purchases (last $32.9B)
09:15am Sep Industrial Production (last –0.1%), Capacity Utilization (last 82.4%)
01:00pm Oct NAHB Housing Market Index (last 30)
Events
ICSC/UBSW Chain Store Sales (7:45, last 2.1%). Redbook Retail Sales (8:55, last 3.4%). FDO, MAA, NRG analyst meetings. Fed's Stern speaks in VA at 12:00pm. Fed's Bies speaks to American Banker's Association in Phoenix at 1:45pm. ABC Consumer Confidence (last -8).
Earnings
Before the Open: AOS ADTN AMFI ASD BOT CBSH EMC ELS SSP FRX FCX GAP JEF JNJ JRN KEY MAN MNI MER MNRO NCC NVR ODP RBNC SIFY STT STI UTX USB WFC. After the Close: AMB CGNX CNW FSII HBHC HWAY IBM ILMN INTC LLTC MOT NVLS PKG PHHM PNFP SOV SYK TSS TRMK USNA YHOO.
 
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 1:10 PM

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