Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Housing market/ interest rates are the main force behind the stock market action right now, therefore making the different housing reports more important to monitor. Technically, the market is in a range between 1434 and 1450.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1452.47 | 1828.83 | 12596 | 820.37 |
| Resistance 2 | 1448.33 | 1823.42 | 12563 | 816.93 |
| Resistance 1 | 1444.47 | 1816.83 | 12523 | 813.37 |
| Pivot | 1440.33 | 1811.42 | 12490 | 809.93 |
| Support 1 | 1436.47 | 1804.83 | 12450 | 806.37 |
| Support 2 | 1432.33 | 1799.42 | 12417 | 802.93 |
| Support 3 | 1428.47 | 1792.83 | 12377 | 799.37 |
| | | | | |
| Contract | April Gold | June Euro | May Crude Oil | June Bonds |
| Resistance 3 | 668.93 | 1.3455 | 62.45 | 112 10/32 |
| Resistance 2 | 667.37 | 1.3432 | 61.25 | 112 5/32 |
| Resistance 1 | 664.93 | 1.3412 | 60.60 | 111 30/32 |
| Pivot | 663.37 | 1.3389 | 60.00 | 111 25/32 |
| Support 1 | 660.93 | 1.3369 | 59.20 | 111 18/32 |
| Support 2 | 659.37 | 1.3346 | 58.60 | 111 13/32 |
| Support 3 | 656.93 | 1.3326 | 57.90 | 111 6/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, Mar 28th, 2007
Economic
08:30am Feb Durable Goods Orders (last –7.8%), Durables Ex Transportation (last –3.1%)
10:30am Crude Oil/Gasoline/Distillate Inventories
01:00pm Treasury's 2-year Note Auction results
Events
MBA Mortgage Applications (7:00, last –2.7%). ALU, FFG analyst meetings. Credit Suisse CTIA Wireless Forum in FL through 3.28. BofA Media, Telecommunications & Entertainment conference in NYC through 3/29. Fed's Bernanke testifies before Joint Economic Committee at 9:30am. Trades Ex-dividend: DOW $0.375, OMX $0.15, USB $0.40.
Earnings
Before the Open: LINE UNF. After the Close: PAYX RECN SMOD 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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