Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
If I had to make a guess, I would call for a trading range in indices tomorrow as the market awaits for the fed language Wednesday. Fed. funds futures suggessts no change in the rate but traders will analyse the language closely. The way interest rates traded today, market is expecting a hawkish statement.
LEVELS:
| Contract (Dec.. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1401.47 | 1782.50 | 12350.00 | 784.67 |
| Resistance 2 | 1392.83 | 1763.75 | 12260.00 | 778.33 |
| Resistance 1 | 1387.37 | 1750.50 | 12205.00 | 773.17 |
| Pivot | 1378.73 | 1731.75 | 12115.00 | 766.83 |
| Support 1 | 1373.27 | 1718.50 | 12060.00 | 761.67 |
| Support 2 | 1364.63 | 1699.75 | 11970.00 | 755.33 |
| Support 3 | 1359.17 | 1686.50 | 11915.00 | 750.17 |
| | | | | |
| Contract (Dec. 2006) | Dec. Gold | Euro | Dec. Ten Years | Dec. US Bonds |
| Resistance 3 | 594.4333 | 1.2725 | 107 2/32 | 110 24/32 |
| Resistance 2 | 591.9667 | 1.2692 | 106 30/32 | 110 17/32 |
| Resistance 1 | 587.4333 | 1.2640 | 106 27/32 | 110 10/32 |
| Pivot | 584.9667 | 1.2607 | 106 23/32 | 110 3/32 |
| Support 1 | 580.4333 | 1.2555 | 106 21/32 | 109 28/32 |
| Support 2 | 577.9667 | 1.2522 | 106 17/32 | 109 21/32 |
| Support 3 | 573.4333 | 1.2470 | 106 14/32 | 109 14/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, Oct 24th, 2006
Economic
10:00am Oct Richmond Fed Manufacturing Index (last 9)
01:00pm Treasury's 2-year Note auction results
Events
ICSC/UBSW Chain Store Sales (7:45, last 2.0%). Redbook Retail Sales (8:55, last 3.5%). Sanders Morris Harris Middle Market Investor Growth conference in NYC through 10/24. SHFL, WMT, WTI analyst meeting. ABC Consumer Confidence (last -7).
Earnings
Before the Open: AKS ALK AMTD ANAD AXE AIT ASN AGIX AVY BLDP BLS EAT BMHC BNI CP CSL CNC CME CPS COH CMCO CMC CBE CPO CFC DD ESV EPD GLG HMA IMN IPCC IPS JBLU KELYA LH LCAV LM LVLT LXK LMT LPX LU MDC MTCT NOC OMC PCAR PNR PD PDSN PCP RYN SII STFC SMMX TLAB TEN TZOO UAG USG WDR WAT WHR WRLD WWY. During Trading Hours: PPP. After the Close: ACE ACTL ADVS AFL AMZN ACLI ACAP ACF AMSG AJG AV BXP BTUI BKI BWLD CHRW CLMS CLZR CRI CSCD CTX CENX CHB CKFR GLW EXBD CVTI CR CSGS CTS CYMI DV DOV EFII WIRE ENWV ESLR ESRX FADV FISV FLEX FTI GNSS GYI GSIG HUBG IM IDTI KLAC KNL LDIS LSS MANH MTW MUR NBR NVTL NTRI OMM ORLY PNRA PLT PWER PSSI QLGC RFMD SAIA SEAB STX SCSS SIE SGTL SWK STM SUPX TIN TNB TRMB TZIX ULTI VOCS WBSN XL XTO.
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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