Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Election day today in US.
Lat mid term election back in 2004 resulted in a big gap up on the stock market the next morning and a big gap down on Bonds.
Have no idea what will happen tonight/ tomorrow and therefore I am going home FLAT.
Look for increased volatility in the upcoming sessions.
LEVELS:
| Contract (Dec.. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1402.13 | 1789.00 | 12318.67 | 784.95 |
| Resistance 2 | 1397.57 | 1775.50 | 12269.33 | 780.35 |
| Resistance 1 | 1392.43 | 1763.00 | 12224.67 | 774.30 |
| Pivot | 1387.87 | 1749.50 | 12175.33 | 769.70 |
| Support 1 | 1382.73 | 1737.00 | 12130.67 | 763.65 |
| Support 2 | 1378.17 | 1723.50 | 12081.33 | 759.05 |
| Support 3 | 1373.03 | 1711.00 | 12036.67 | 753.00 |
| | | | | |
| Contract (Dec. 2006) | Dec. Gold | Euro | Dec. Crude Oil | Dec. US Bonds |
| Resistance 3 | 635.5333 | 1.2945 | 61.0033333 | 113 6/32 |
| Resistance 2 | 633.3667 | 1.2897 | 60.5766667 | 112 28/32 |
| Resistance 1 | 630.5333 | 1.2847 | 59.7533333 | 112 18/32 |
| Pivot | 628.3667 | 1.2799 | 59.3266667 | 112 8/32 |
| Support 1 | 625.5333 | 1.2749 | 58.5033333 | 111 30/32 |
| Support 2 | 623.3667 | 1.2701 | 58.0766667 | 111 20/32 |
| Support 3 | 620.5333 | 1.2651 | 57.2533333 | 111 10/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Economic
10:30am Crude Oil/Gasoline/Distillate Inventories
01:00pm Treasury's 3-year Note Auction results
Events
MBA Mortgage Applications (7:00, last –3.0%). DNR, WEBX analyst meetings. CIBC Healthcare conference in NYC through 11/8. Goldman Sachs Software/IT Services conference in NYC through 11/8. Rodman & Renshaw Healthcare conference in NYC through 11/8. Baird Industrial conference in Chicago through 11/8. Pacific Growth Equities Technology conference in SF through 11/9. Fed's Moskow speaks on Economic Outlook in Indianapolis at 9:10am and in Muncie, IN at 12:10pm. Trades Ex-dividend: AEP $0.39, BA $0.30, ETR $0.54, IBM $0.30, PEP $ $0.24, PFE $0.24, WY $0.60.
Earnings
Before the Open: ALTI ARXT ALD AMT BRL BRY BCRX CVC CBI CLHB CNSL CTB CXR XTXI DEPO DTV DYN XJT FD FST FWLT GSX HSP THX HGSI DISK IPG LAMR TMR OHB ORA PCG RL SIRI TRK STRL TLCV TRMA WW WGL. After the Close: ARN UHAL AMKR ASYT ATO BMC BORL CELL CSCO CONR CTRP HILL EGLE EPEX ERES KEYW FICC FOXH GMKT IO IPAR JUPM KONG MCHX MIVA NAPS UEPS NWS.A NMSS NTN PLLL LGBT PCLN PRSC DSS RMD STEC SNIC BID SLNK TS OVEN URS UTSI INT ZIPR.
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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