Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
I suspect we can see a run towards 1453 - 1456 which is a very strong resistance level on basis the March SP. Trading above these levels will open the door for higher prices while a failure, will be the third one so far, thus a possibility for a stronger sell off.
LEVELS:
| Contract (March 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1460.20 | 1810.67 | 12781 | 822.50 |
| Resistance 2 | 1454.60 | 1804.33 | 12734 | 819.00 |
| Resistance 1 | 1451.80 | 1798.67 | 12709 | 817.00 |
| Pivot | 1446.20 | 1792.33 | 12662 | 813.50 |
| Support 1 | 1443.40 | 1786.67 | 12637 | 811.50 |
| Support 2 | 1437.80 | 1780.33 | 12590 | 808.00 |
| Support 3 | 1435.00 | 1774.67 | 12565 | 806.00 |
| | | | | |
| Contract | April Gold | March Euro | March Crude Oil | March Bonds |
| Resistance 3 | 680.77 | 1.3180 | 61.51 | 110 26/32 |
| Resistance 2 | 677.23 | 1.3122 | 60.55 | 110 21/32 |
| Resistance 1 | 672.87 | 1.3090 | 59.81 | 110 13/32 |
| Pivot | 669.33 | 1.3032 | 58.85 | 110 8/32 |
| Support 1 | 664.97 | 1.3000 | 58.11 | 110 |
| Support 2 | 661.43 | 1.2942 | 57.15 | 109 27/32 |
| Support 3 | 657.07 | 1.2910 | 56.41 | 109 19/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, Feb 14th, 2007
Economic
08:30am Jan Advance Retail Sales (last 0.9%), Retail Sales Less Autos (last 1.0%)
10:00am Fed's Bernanke gives testimony before Senate on Monetary Policy, Dec Business Inventories (last 0.4%)
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
MBA Mortgage Applications (7:00, last –0.2%). DB Small Cap Growth conference in Naples through 2/14. Merrill Lynch Insurance conference in NYC through 2/15. Credit Suisse Storage conference in Boston through 2/15. BB&T Capital Markets Transportation Services conference in Miami through 2/16. Trades Ex-dividend: GM $0.25, UTX $0.265.
Earnings
Before the Open: LEND ACGY ANR AVA POS KO DADE DAKT DVA DE DRAD FORR GRMN GENZ JNY JRN KDN KEA KNDL KVHI MAS MGM MICC NRP NTBK NAT ODP OSI PQ PFCB PGN SBGI MDCO RIG THS UAG ZBRA. After the Close: ACAP AGP APPB BIDU CLB OFC DCEL ESLR GES HIW DISK KNXA MSSR MRH NTAP NTRI PVA PVR PLAB PRAA RNWK RJET TEX NCTY TWPG ZOLT.
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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