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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, March 14, 2007

Trading levels and reports for March 15th

 
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Dear Trader,
 

Today's session saw another big volume day and another volatile range.  We met some of the extensions on the down side, namely 1384 > 1376

 

good volume, along with a strong bounce is giving me the idea that we may see an attempt towards 1424-1430 basis the June SP.

 

Keep in mind triple witching this Friday and anything can happen both sides of the market.

 
LEVELS:
 
Contract (JUNE 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1434.00 1814.83 12513 805.08
Resistance 2 1417.40 1791.17 12377 794.42
Resistance 1 1409.10 1779.33 12308 788.33
Pivot 1392.50 1755.67 12172 777.67
Support 1 1384.20 1743.83 12103 771.58
Support 2 1367.60 1720.17 11967 760.92
Support 3 1359.30 1708.33 11898 754.83
         
Contract  April Gold March Euro April Crude Oil June Bonds 
Resistance 3 656.23 1.3377 59.77 114     
Resistance 2 651.57 1.3337 59.11 113 24/32
Resistance 1 647.03 1.3307 58.63 113 11/32
Pivot 642.37 1.3267 57.97 113  3/32
Support 1 637.83 1.3237 57.49 112 22/32
Support 2 633.17 1.3197 56.83 112 14/32
Support 3 628.63 1.3167 56.35 112  1/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, Mar 15th, 2007


Economic
08:30am Initial Jobless Claims (last 328K), Mar Empire Manufacturing (last 24.4), Feb Producer Price Index (last –0.6%), PPI Ex Food & Energy (last 0.2%)
09:00am Jan Net Long-term TIC Flows (last $15.6B)
10:30am Natural Gas Inventories
12:00pm Mar Philadelphia Fed (last 0.6)
Events
OPEC meets in Vienna for 144th ordinary meeting. GAS, MDU, ORA analyst meetings. 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. Former Fed Chairman Greenspan speaks in FL at 12:30pm. Trades Ex-dividend: ATI $0.13.
Earnings
Before the Open: BSC BVF CLE CRAI HEES HSOA IAG POP SCVL STRL TOMO WGO. After the Close: ARO ABTL PSUN SIX TEK TLCV.
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. 
 

posted by Cannon Trading at 1:06 PM

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