Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Volume came back and with it the continued selling pressure......1384 is the next major support level, while 1400 is first resistance followed by 1408. (based on the continuous 60 minutes chart) Plan your trade and trade your plan!
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1435.47 | 1803.67 | 12538 | 805.58 |
| Resistance 2 | 1426.23 | 1790.83 | 12463 | 798.92 |
| Resistance 1 | 1408.47 | 1767.67 | 12320 | 787.33 |
| Pivot | 1399.23 | 1754.83 | 12245 | 780.67 |
| Support 1 | 1381.47 | 1731.67 | 12102 | 769.08 |
| Support 2 | 1372.23 | 1718.83 | 12027 | 762.42 |
| Support 3 | 1354.47 | 1695.67 | 11884 | 750.83 |
| | | | | |
| Contract | April Gold | March Euro | April Crude Oil | June Bonds |
| Resistance 3 | 657.03 | 1.3341 | 61.54 | 113 29/32 |
| Resistance 2 | 655.27 | 1.3307 | 60.74 | 113 22/32 |
| Resistance 1 | 652.33 | 1.3275 | 59.34 | 113 15/32 |
| Pivot | 650.57 | 1.3241 | 58.54 | 113 8/32 |
| Support 1 | 647.63 | 1.3209 | 57.14 | 113 1/32 |
| Support 2 | 645.87 | 1.3175 | 56.34 | 112 26/32 |
| Support 3 | 642.93 | 1.3143 | 54.94 | 112 19/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, Mar 14th, 2007
Economic
08:30am Feb Import Price Index (last –1.2%), Q4 Current Account Balance (last -$225.6B)
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
MBA Mortgage Applications (7:00, last 7.3%). COP, KSU analyst meetings. Credit Suisse global Services conference in Phoenix through 3/14. Cowen Healthcare conference in Boston through 3/15. BofA Consumer conference in NYC through 3/15. Citigroup Small/Midcap conference in Las Vegas through 3/15. Bear Stearns Global Oil/Gas conference in NYC through 3/15. Trading Ex-split: WCN 3-2. Trades Ex-dividend: BDK $0.42.
Earnings
Before the Open: BLTI BLHB DSW ESLT FBST HWCC LEH NVAX SMTS TRK SSI SURW. After the Close: CBM CSIQ IMOS DEPO ECLG HIBB HOTT JUPM MIVA PDII PBY PRSC STAA SUPG ZIPR ZUMZ.
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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