Cannon Trading Co. Inc.
We believe. The next frontier in futures trading.
Since 1988

Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, October 31, 2006

Trading levels and reports for Nov 1st

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
A bit more volatility today. Market is taking a small break from it's amazing run for the month of October and taking a wait and see approach to Friday's job report as well as the Nov. 7th election.
 
I hope everyone will have a great trading month in November.
 
LEVELS:
 
Contract (Dec.. 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1396.83 1768.17 12239.67 786.17
Resistance 2 1391.97 1758.83 12192.33 781.33
Resistance 1 1386.83 1749.67 12148.67 775.17
Pivot 1381.97 1740.33 12101.33 770.33
Support 1 1376.83 1731.17 12057.67 764.17
Support 2 1371.97 1721.83 12010.33 759.33
Support 3 1366.83 1712.67 11966.67 753.17
         
Contract (Dec. 2006) Dec. Gold Euro Dec. Ten Years  Dec. US Bonds 
Resistance 3 619.3667 1.2943 108 28/32 113 23/32
Resistance 2 614.3333 1.2880 108 18/32 113  6/32
Resistance 1 610.5667 1.2838 108 12/32 112 30/32
Pivot 605.5333 1.2775 108  2/32 112 13/32
Support 1 601.7667 1.2733 107 29/32 112  5/32
Support 2 596.7333 1.2670 107 19/32 111 20/32
Support 3 592.9667 1.2628 107 13/32 111 12/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, Nov 1st, 2006


Economic
08:15am Oct ADP Employment Change (last 78K)
09:00am Treasury's 3- & 10-year Note announcements
10:00am Oct ISM Manufacturing (last 52.9), ISM Prices Paid (last 61.0), Sep Construction Spending (last 0.3%), Pending Home Sales (last 4.3%)
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
MBA Mortgage Applications (7:00, last 0.5%). Susquehanna Emerging Trends conference in NYC. Goldman Sachs Global Capital Goods conference in NYC through 11/2. Keefe Bruyette Woods Securities Brokerage conference in NYC through 11/2. Merrill Lynch Global Energy conference in NYC through 11/2. Oct Total Vehicle Sales (last 16.6M); Domestic Vehicle Sales (last 12.9M). Fed's Bernanke speaks on Community Development in DC at 1:00pm. After the Close - AEOS ARO HOTT MW ZUMZ. Trades Ex-dividend: AA $0.15, MER $0.25, NSC $0.18.
Earnings
Before the Open: ASF AG ALXN AGN ANPI WTR AVA BEC BXC BCO BRNC BKC FUN CRDN CI CINF CLX CAM DVA DNR DVN D EFD ENB EQR EEE FRP GRMN GMR GWR HOC HOS ICON IFS IDCC JLL KNXA LAZ MMP MKTX MMC MA MWV MYL BABY NEM NICE GAS NJR NBL OGE ZEUS PMTC PKD PTEN PXD POP PEG SVM SBGI SPW SHOO SUNH SUP TWX TWP TRW UPL WLSC SYN ZBRA. After the Close: TFSM SW DOX AHS ANDE ANSR AOC AIZ ACLS RNT BMRN BRW CBT CAI ELY CBOU CBEY COHR FIX CNO CTRX XRAY DIOD BOOM DRCO EDS FIC FEIC FMC FNDT GPRO GFIG GIVN GSF GES GTRC GMRK INSP IN ITRI JH KND KYPH LBS LTBG MXIM MSSR MRN MIL NHP NLS NUCO OIIM OKE OPNT OSUR PVR PVA PLXS POL PBH PRU PWEI QDEL RTSX COL RUTH SCUR SWKS SMSI SFN SPSS SRX STXN SUN STKL SUPG SRDX SMA TK TNS TRN TTMI UHCO UNM VCLK VARI VNUS WRNC WCAA WCG.
 
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 1:08 PM 0 comments

:US Conference Bd Oct Consumer Confidence 105.4

 =DJ DATA SNAP:US Conference Bd Oct Consumer Confidence 105.4(DJ)

 
=========================================================
 Conference Board      Oct     Sep     !Forecast: 108.0 !
 Consumer Confidence  105.4   105.9 R  !Actual: 105.4   !
 Present Situation    124.7   128.3 R  !                !
 Expectations          92.6    91.0 R  !                !
=========================================================
 
   By Michael S. Derby
   Of DOW JONES NEWSWIRES
 
  NEW YORK (Dow Jones)--U.S. consumer confidence levels posted a
small unexpected dip in October, weighed down by worries over jobs
and the economy's current state.
  The Conference Board, a private research group, reported Tuesday
that its index of consumer confidence for October ebbed to 105.4,
from the revised 105.9 seen the month before. Economists had
expected to see the index hit 108.0.
  The slide "was prompted by consumers' mixed assessment of the
present day business conditions and a less favorable view of the
job market," said Lynn Franco, who leads the organization's
Consumer Research Center. "This month's readings continue to
suggest a moderate pace of economic growth."
 
  (MORE TO FOLLOW) Dow Jones Newswires
  October 31, 2006 10:01 ET (15:01 GMT)
  Copyright (c) 2006 Dow Jones & Company, Inc. - - 10 01 AM EST
10-31-06

Keywords:  CURRENCY ENERGY FINANCIAL ECONOMY GENERAL
09:01:45   10/31/06

 

 

posted by Cannon Trading at 7:11 AM 0 comments

Monday, October 30, 2006

Trading levels and reports for Oct. 31st

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Tomorrow is the last trading day for Oct. I suspect we may finally see some profit taking, although the way this market has been acting....you never know.
 
LEVELS:
 
Contract (Dec.. 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1394.73 1780.00 12228.67 790.52
Resistance 2 1390.77 1763.00 12191.33 783.13
Resistance 1 1386.83 1755.00 12155.67 778.52
Pivot 1382.87 1738.00 12118.33 771.13
Support 1 1378.93 1730.00 12082.67 766.52
Support 2 1374.97 1713.00 12045.33 759.13
Support 3 1371.03 1705.00 12009.67 754.52
         
Contract (Dec. 2006) Dec. Gold Euro Dec. Ten Years  Dec. US Bonds 
Resistance 3 621.2000 1.2819 108  2/32 112 12/32
Resistance 2 617.2000 1.2795 107 31/32 112  6/32
Resistance 1 612.3000 1.2780 107 28/32 112  2/32
Pivot 608.3000 1.2756 107 25/32 111 28/32
Support 1 603.4000 1.2741 107 21/32 111 24/32
Support 2 599.4000 1.2717 107 18/32 111 18/32
Support 3 594.5000 1.2702 107 15/32 111 14/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Tuesday, Oct 31st, 2006


Economic
08:30am Q3 Employment Cost Index (last 0.9%)
10:00am Oct Chicago Purchasing Manager Index (last 62.1), Consumer Confidence (last 104.5)
Events
ICSC/UBSW Chain Store Sales (7:45, last 0.0%). Redbook Retail Sales (8:55, last 3.4%). CSG, SFUN analyst meetings. ABC Consumer Confidence (last -7). STRA replaces MIK in S&P Midcap 400 after the close.
Earnings
Before the Open: ASVI AGR AL LNT AEP ADM ASTSF ADP BIIB BJS BLT BVN CE CHTR CKP CTCM CMI DRAD EK ETR EOP FDP FTD FCN IT GBX GPI HAE HSII HLT ITWO INFS IACI IRM KSU KNDL KRC LEXG LTR LZ MRO MSO MLM MAS MCGC MINI TAP NNDS OCR ORCT VITA OSK PER PRGO PNC PCH POZN PPL PG Q RRA RBC RIMG RDC RCL SAFC SGK SGR SINT SSCC SAH JOE STTX SSYS THOR TRMP X UAUA UARM VLO VTRU VSH VC VTAL VG. After the Close: ACAS AVR BIDU BBOX CEC CMG CCUR CORI CVTX DWA EXP EAC EOG EQY GOLF HIH SOLD IINT ISSI KFRC XPRT LNC LAD MCK NAL OII PZZA KWK REDE SMI STAA SGY TWPG URI.
 
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 1:21 PM 0 comments

Trading levels and reports for oct 30th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Pay attention to intraday volume spikes. So far this bull rally been characterized by intraday lows correlated to spike in volume.
 
LEVELS:
 

Contract (Dec.. 2006)

SP500 (big & Mini)

Nasdaq100 (big & Mini)

Dow Jones (big & Mini)

Mini Russell

Resistance 3

1401.93

1780.00

12261.33

787.83

Resistance 2

1397.07

1766.50

12225.67

783.67

Resistance 1

1390.93

1749.00

12181.33

776.83

Pivot

1386.07

1735.50

12145.67

772.67

Support 1

1379.93

1718.00

12101.33

765.83

Support 2

1375.07

1704.50

12065.67

761.67

Support 3

1368.93

1687.00

12021.33

754.83

Contract (Dec. 2006)

Dec. Gold

Euro

Dec. Ten Years

Dec. US Bonds

Resistance 3

610.0333

1.2893

108 5/32

112 19/32

Resistance 2

606.2667

1.2838

107 31/32

112 9/32

Resistance 1

603.6333

1.2806

107 28/32

112 2/32

Pivot

599.8667

1.2751

107 22/32

111 24/32

Support 1

597.2333

1.2719

107 19/32

111 17/32

Support 2

593.4667

1.2664

107 13/32

111 7/32

Support 3

590.8333

1.2632

107 10/32

111

 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Monday, Oct 30th, 2006


Economic
08:30am Sep Personal Income (last 0.3%), Personal Spending (last 0.1%), PCE Deflator Y/Y (last 3.2%), PCE Core (last 0.2%)
Events
Fed's Lacker speaks on Monetary Policy in Baltimore at 8:30am. Fed's Moskow gives welcome remarks at Education conference in Chicago at 9:15am. WSO analyst meeting. Trades Ex-dividend: EK $0.25.
Earnings
Before the Open: ALE AU ARJ ASH BEAV BLK BWP BDB ECLP FPL GEHL GBBK HCP HEP HRZ HUM KIM LANC MPWR NTE NCOG OTTR RDWR RSG SKYW SPSX SYY TRI VLI VZ. After the Close: ACTS ADPT KAR ABCO AD ALO ATRS AMMD AXS BLKB NILE CBM CACS OFC CVA DIVX ENTU FARO BGC GOL GW HIFN HYDL INSU INTX IVAC JKHY KRON MET MSPD NWRE NXG NGPS ODSY OIS ASGN OPEN PKY PRAA PPS PFG RACK RNR RCII SVNT SONO SPNC SPN SBL TNL TXRH UDR VMC WLL WMS.
 
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 11:10 AM 0 comments

Thursday, October 26, 2006

Trading levels and reports for Oct. 27th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
FYI for tomorrow's reports (taken from Briefing.com ):
 

Release Details

GDP: Gross Domestic Product

  • Importance (A-F): This release merits a B.
  • Source: Bureau of Economic Analysis, U.S. Department of Commerce.
  • Release Time: Third or fourth week of the month at 8:30 ET for the prior quarter, with subsequent revisions released in the second and third months of the quarter.
  • Raw Data Available At: http://www.bea.doc.gov/bea/dn1.htm.
 

Highlights

  • Briefing.com Forecast:  GDP 2.0%, GDP price index 2.8%, final sales 2.3%.
  • Market Consensus:    GDP 2.1%, GDP price index 2.8%

Key Factors

  • Personal spending to be near 3.5%, from 2.6% in Q2 and 4.8% in Q1.   Durable goods led the stronger growth.
  • A rebound in business investment expected as well.  Structural spending soaring, equipment just above 2 quarter average.
  • Residential investment provides the drag, nearly twice the size of the Q2 plunge.
  • The trade deficit reached record highs in July and August as stronger imports (demand) leave a drag.
  • Government spending has been somewhat volatile.  Assuming 2% growth which may be understating the gain.
  • Inventory growth was slower than Q2 and will provide a small decline to growth.
  • Real final sales (GDP - inventories) are expected at a stronger 2.3% from 2.1% in Q2.
  • GDP price index to soften to 2.8% after three quarters at 3.3%.  PCE and core prices rose 2.3%.

Big Picture

  • Economic growth is slowing as the interest sensitive consumer sectors and the housing correction provide the swing.  The forward risk is that lowered business confidence slows the strong pace of capital investment and the manufacturing sector.  Lower energy prices will aid Q4 growth if they hold at these levels.   2006 growth will be based on moderating consumer spending (the Fed's intention) as business investment moderates but continues to provide a lift to the economy and manufacturing sector.  The drag from the trade deficit is expected to moderate (provided a lift in Q2) as inventory rebuilding shouldn't provide much of a swing.  Stimulative fiscal policy now contrasts with restrictive monetary policy as economic growth has softened but remains self-sustained.  Inflation risk remains but the slowing economy should help quell the pressures.  Little slack in the economy, a weak housing market and the remaining inflation risks are the Fed's concerns.

Release Details

University of Michigan Consumer Sentiment Index

  • Importance (A-F): This release merits a B-.
  • Source: The University of Michigan.
  • Release Time: Preliminary: 10:00 ET on the second Friday of the month (data for current month); Final: 10:00 ET on the fourth Friday of the month (data for current month).

Highlights

  • Preliminary October consumer sentiment 92.3 (+6.9 points, 8.1%).

Key Factors

  • A strong gain follows the September rise to leave a 13% two month jump. 
  • Lower fuel prices have provided the lift despite the slowing economy. 
  • Leaves October at the highest level since July 2005 -- pre Gulf Coast hurricane and oil price concerns.
  • Present situation component shot 10% higher, expectations rose 7% after a 15% September gain.
  • 1-year inflation expectations fell to 2.9%. 

Big Picture

  • A strong 13% two month gain follows 6 declines over the prior 8 months as energy prices rather than the economy drive the index.  Gasoline prices are the swing factor as strong labor conditions are being more than offset by high interest rates and global/domestic concerns.   The U Mich survey is significantly smaller (500 phone calls) than the Conference Board's, includes a longer outlook (for expectations) as questions are focused on the household compared to the business heavy CB survey.  A longer 2 year period shows a downward trend compared to the far brighter upward trend in the larger consumer confidence index.  The index far better tracks the consumers' mood than spending habits better indicated through interest rates and  income growth.
LEVELS:
 
Contract (Dec.. 2006)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1407.27 1793.17 12301.00 795.87
Resistance 2 1401.23 1775.33 12257.00 787.93
Resistance 1 1397.07 1764.17 12223.00 783.62
Pivot 1391.03 1746.33 12179.00 775.68
Support 1 1386.87 1735.17 12145.00 771.37
Support 2 1380.83 1717.33 12101.00 763.43
Support 3 1376.67 1706.17 12067.00 759.12
         
Contract (Dec. 2006) Dec. Gold Euro Dec. Ten Years  Dec. US Bonds 
Resistance 3 611.7000 1.2859 107 30/32 112  5/32
Resistance 2 606.6000 1.2797 107 23/32 111 25/32
Resistance 1 603.2000 1.2760 107 19/32 111 18/32
Pivot 598.1000 1.2698 107 12/32 111  6/32
Support 1 594.7000 1.2661 107  8/32 110 31/32
Support 2 589.6000 1.2599 107  1/32 110 19/32
Support 3 586.2000 1.2562 106 29/32 110 12/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Friday, Oct 27th, 2006


Economic
08:30pm Q3 Advance GDP Annualized (last 2.6%), GDP Price Index (last 3.3%), Personal Consumption (last 2.6%), Core PCE QoQ (last 2.7%)
09:45pm Oct Final U. of Michigan Confidence (last 92.3)
Events
BEBE analyst meetings. Fed's Stern speaks on Policy in Minneapolis at 1:05pm. Trades Ex-dividend: TXN $0.04.
Earnings
Before the Open: ALEX AXL AVP BHI BWA BC CAH CVX CEG CVH DO EXC FSS FO HUN ICLR IDXX IR KDN KCI NOV NNI OVRL PNW SCG TBL WHQ. After the Close: AT EEP LPNT.
 
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.