Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
First two trading days of 2007 were quite interesting and volatile. No reason to think tomorrow will be different as the market will react to monthly un-employment numbers along with Fed. chairman Bernanke speaking during the day.
LEVELS:
| Contract (March 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1448.37 | 1869.67 | 12700 | 814.50 |
| Resistance 2 | 1439.93 | 1842.83 | 12638 | 806.40 |
| Resistance 1 | 1433.87 | 1826.67 | 12595 | 800.95 |
| Pivot | 1425.43 | 1799.83 | 12533 | 792.85 |
| Support 1 | 1419.37 | 1783.67 | 12490 | 787.40 |
| Support 2 | 1410.93 | 1756.83 | 12428 | 779.30 |
| Support 3 | 1404.87 | 1740.67 | 12385 | 773.85 |
| | | | | |
| Contract | Feb. Gold | March Euro | Feb. Crude Oil | March Bonds |
| Resistance 3 | 635.80 | 1.3300 | 58.83 | 113 14/32 |
| Resistance 2 | 633.80 | 1.3262 | 58.16 | 113 1/32 |
| Resistance 1 | 630.00 | 1.3193 | 56.88 | 112 23/32 |
| Pivot | 628.00 | 1.3155 | 56.21 | 112 10/32 |
| Support 1 | 624.20 | 1.3086 | 54.93 | 112 |
| Support 2 | 622.20 | 1.3048 | 54.26 | 111 19/32 |
| Support 3 | 618.40 | 1.2979 | 52.98 | 111 9/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Friday, Jan 5th, 2007
Economic
08:30am Dec Unemployment Rate (last 4.5%), Change in Nonfarm Payrolls (last 132K), Change in Manufact. Payrolls (last –15K), Average Hourly Earnings (last 0.2%), Average Weekly Hours (last 33.9)
10:30am Natural Gas Inventories
Events
Fed Chairman Bernanke speaks at Chicago luncheon hosted by American Finance & Economic Association at 1:45 pm.
Earnings
Before the Open: AZZ GPN SGR. After the Close: None.
*Note all time are EST (GMT-5). 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.
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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