Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Hope everyone had a great holiday season and is ready for a healthy, happy and prosperous 2007.
Markets went on the longest break in a few years, as New years holiday was extended with a very limited trading day in observance of former president Gerald Ford’s passing.
Be ready for what may be a volatile week as we condense a full week of economic reports and trading into 3 trading days, starting tomorrow with FOMC minutes.
LEVELS:
| Contract (March 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1446.17 | 1809.00 | 12653 | 811.77 |
| Resistance 2 | 1441.73 | 1801.00 | 12626 | 807.23 |
| Resistance 1 | 1435.07 | 1788.00 | 12583 | 801.07 |
| Pivot | 1430.63 | 1780.00 | 12556 | 796.53 |
| Support 1 | 1423.97 | 1767.00 | 12513 | 790.37 |
| Support 2 | 1419.53 | 1759.00 | 12486 | 785.83 |
| Support 3 | 1412.87 | 1746.00 | 12443 | 779.67 |
| | | | | |
| Contract | Feb. Gold | March Euro | Feb. Crude Oil | March Bonds |
| Resistance 3 | 641.57 | 1.3479 | 62.83 | 112 6/32 |
| Resistance 2 | 639.93 | 1.3411 | 62.02 | 112 |
| Resistance 1 | 638.97 | 1.3372 | 61.53 | 111 28/32 |
| Pivot | 637.33 | 1.3304 | 60.72 | 111 22/32 |
| Support 1 | 636.37 | 1.3265 | 60.23 | 111 18/32 |
| Support 2 | 634.73 | 1.3197 | 59.42 | 111 12/32 |
| Support 3 | 633.77 | 1.3158 | 58.93 | 111 8/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, Jan 3rd, 2007
Economic
8:15 Dec ADP Employment Change (last 158K)
10:00 Nov Construction Spending (last –1.0%), Dec ISM Manufacturing (last 49.5), Prices Paid (last 53.5)
2:00 Minutes of Dec. 12 FOMC Meeting
Events
MBA Mortgage Applications (7:00, last –14.2%). ICSC/UBSW Chain Store Sales (7:45, last 2%). Redbook Retail Sales (8:55, last 2.9%). Dec Total Vehicle Sales (last 16.1M); Domestic Vehicle Sales (last 12.3M). Same Store Sales After the Close - AEOS ARO HOTT MW ZUMZ. Trading Ex-split: SWS 3-2. Trades Ex-dividend: AXP $0.15, BMY $0.28, MDT $0.11
Earnings
Before the Open: UNF. After the Close: ANGO BLUD INTV MERX SONC.
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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