Cannon Trading Futures Blog: Daily Support and Resistance Levels
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
New high on the SP500 in what I consider a good day for day-trading ( good range, good volatility and room for trades on both sides of the market). Tomorrow we will have the release of the last FOMC meeting, which can sometimes move the market.
Plan your trade and trade your plan!
LEVELS:
| Contract (Dec.. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1419.67 | 1836.00 | 12461 | 809.80 |
| Resistance 2 | 1409.43 | 1816.00 | 12365 | 798.90 |
| Resistance 1 | 1403.47 | 1805.00 | 12308 | 793.30 |
| Pivot | 1393.23 | 1785.00 | 12212 | 782.40 |
| Support 1 | 1387.27 | 1774.00 | 12155 | 776.80 |
| Support 2 | 1377.03 | 1754.00 | 12059 | 765.90 |
| Support 3 | 1371.07 | 1743.00 | 12002 | 760.30 |
| | | | | |
| Contract (Dec. 2006) | Dec. Gold | Euro | Dec. Crude Oil | Dec. US Bonds |
| Resistance 3 | 640.8667 | 1.2971 | 59.90 | 114 14/32 |
| Resistance 2 | 635.6333 | 1.2933 | 59.53 | 114 |
| Resistance 1 | 630.4667 | 1.2889 | 58.90 | 113 21/32 |
| Pivot | 625.2333 | 1.2851 | 58.53 | 113 7/32 |
| Support 1 | 620.0667 | 1.2807 | 57.90 | 112 28/32 |
| Support 2 | 614.8333 | 1.2769 | 57.53 | 112 14/32 |
| Support 3 | 609.6667 | 1.2725 | 56.90 | 112 3/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, Nov 15th, 2006
Economic
08:30am Nov Empire Manufacturing (last 22.9)
10:30am Crude Oil/Gasoline/Distillate Inventories
02:00pm Minutes of Oct. 24th FOMC Meeting
Events
MBA Mortgage Applications (7:00, last 8.8%). AMP, ACN, GWW, HNT, LRW, LUM, VPRT analyst meetings. JPMorgan Small/Midcap conference in Boston through 11/15. Bear Stearns Small/Midcap conference in NYC through 11/15. UBS Global Communications/Technology conference in NYC through 11/16. Morgan Stanley Global Consumer/Retail conference in NYC through 11.16. Merrill Lynch Banking/Financial Services conference in NYC through 11/16. BofA Energy conference in Florida through 11/17. Lehman Small Cap conference in CA through 11/17. CSFB Healthcare conference in Phoenix through 11/17. Trades Ex-dividend: IP $0.25, UTX $0.265.
Earnings
Before the Open: RMK CHRS CPA COCO DAKT GMTN TLB TWB TYC UGI. After the Close: AMAT BEAS GYMB HOTT LTD LDG MMS MW MTSC NTAP NINE PETM PLNR TTEK NCTY ZUMZ.
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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