Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
We started a full week of trading with strong volatility in both the bonds and stock market. This may be a sign for the rest of the week as we are awaiting different economic reports, some with importance to the housing market.
LEVELS:
| Contract (Dec.. 2006) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1415.57 | 1846.50 | 12417 | 803.60 |
| Resistance 2 | 1409.03 | 1832.75 | 12358 | 797.40 |
| Resistance 1 | 1396.57 | 1806.50 | 12252 | 785.40 |
| Pivot | 1390.03 | 1792.75 | 12193 | 779.20 |
| Support 1 | 1377.57 | 1766.50 | 12087 | 767.20 |
| Support 2 | 1371.03 | 1752.75 | 12028 | 761.00 |
| Support 3 | 1358.57 | 1726.50 | 11922 | 749.00 |
| | | | | |
| Contract (Dec. 2006) | Dec. Gold | Euro | Jan. Crude Oil | Dec. US Bonds |
| Resistance 3 | 645.67 | 1.3267 | 61.40 | 114 22/32 |
| Resistance 2 | 643.33 | 1.3223 | 60.87 | 114 5/32 |
| Resistance 1 | 641.97 | 1.3186 | 60.60 | 113 28/32 |
| Pivot | 639.63 | 1.3142 | 60.07 | 113 11/32 |
| Support 1 | 638.27 | 1.3105 | 59.80 | 113 2/32 |
| Support 2 | 635.93 | 1.3061 | 59.27 | 112 17/32 |
| Support 3 | 634.57 | 1.3024 | 59.00 | 112 8/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, Nov 28th, 2006
Economic
08:30am Oct Durable Goods Orders (last 8.3%), Durables Ex Transportation (last 0.5%)
10:00am Nov Consumer Confidence (last 105.4), Richmond Fed Manufacturing Index (last –2), Oct Existing Home Sales (last 6.18M)0
01:00pm Treasury's 2-year Note auction results
02:15pm Sep S&P/CaseShiller Home Price (last 5.2%
Events
ICSC/UBSW Chain Store Sales (7:45, last 2.0%). Redbook Retail Sales (8:55, last 3.2%). Treasury's Paulson discusses markets and Trade at London conference at 4amET. Fed's Bernanke on the Economic Outlook at 12:30pmET. Fed's Plosser on the Economic Outlook at 12:30pmET. Fed's Moskow on the US Economic Outook at 4:30pmET. HNT MTW PNR SVM Analyst meetings. Goldman Sachs Global Shipping conference in NYC. FBR Investor conference in NYC through 11/29. Merrill Lynch Health Services conference in NYC through 11/29. Lazard Capital Markets Life Sciences conference in NYC through 11/29. CIBC Mid and Small Cap Best Ideas conference in NYC through 11/29. CSFB Technology conference in Scottsdale through 12/1. ABC Consumer Confidence (last 0). Trading Ex-split: AME 3-2. Trades Ex-dividend: ALL $0.35, CBS $0.20, HD $0.225, LTD $0.15.
Earnings
Before the Open: AMWD JTX RTLX SKIL. After the Close: ARO DBRN RSTO SIGM LNUX.
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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