Cannon Trading Futures Blog: Daily Support and Resistance Levels
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
If the first days of 2007 are any indication, then traders should look forward to a volatile, interesting trading year.
Again, I would like to remind readers that different market conditions call for different trading strategies/ approaches. Know the market you are trading in and try to recognize the type of trading day you are in as well. Is it a volatile day, full of economic reports? is it a range bound day? or maybe the day seems to be one of those "one directional trending days" ?
The answer to these questions can help make your trading day more successful.
LEVELS:
| Contract (March 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1439.03 | 1883.67 | 12642 | 796.83 |
| Resistance 2 | 1431.87 | 1859.33 | 12578 | 791.17 |
| Resistance 1 | 1426.63 | 1847.17 | 12544 | 788.33 |
| Pivot | 1419.47 | 1822.83 | 12480 | 782.67 |
| Support 1 | 1414.23 | 1810.67 | 12446 | 779.83 |
| Support 2 | 1407.07 | 1786.33 | 12382 | 774.17 |
| Support 3 | 1401.83 | 1774.17 | 12348 | 771.33 |
| | | | | |
| Contract | Feb. Gold | March Euro | Feb. Crude Oil | March Bonds |
| Resistance 3 | 622.60 | 1.3095 | 56.03 | 112 20/32 |
| Resistance 2 | 618.20 | 1.3069 | 55.54 | 112 11/32 |
| Resistance 1 | 615.80 | 1.3022 | 54.78 | 112 3/32 |
| Pivot | 611.40 | 1.2996 | 54.29 | 111 26/32 |
| Support 1 | 609.00 | 1.2949 | 53.53 | 111 18/32 |
| Support 2 | 604.60 | 1.2923 | 53.04 | 111 9/32 |
| Support 3 | 602.20 | 1.2876 | 52.28 | 111 1/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, Jan 11th, 2007
Economic
07:00am BOE Rate announcement
07:45am ECB Rate announcement
08:30am Initial Jobless Claims (last 329K)
10:30am Natural Gas Inventories
02:00pm Dec Monthly Budget Statement (last $11.0B)
Events
Consumer Electronics Show in Las Vegas through 1/11. Macworld in San Francisco through 1/12. JPMorgan Healthcare conference in SF through 1/11. Citigroup Entertainment/Media/Telecom conference in Las Vegas through 1/11. Needham Growth Stock conference in NYC through 1/12.
Earnings
Before the Open: CRAI INFY MTB MTG SRR. After the Close: CAMP IHS.
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.
0 Comments:
Post a Comment
<< Home