Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Light volume today, relative to the daily volume we have experienced in the last few weeks. Less than one million contracts on the ES.
1424 stands out as major resistance and perhaps can act as a pivot level.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1436.07 | 1803.33 | 12554 | 805.80 |
| Resistance 2 | 1429.43 | 1792.42 | 12497 | 801.40 |
| Resistance 1 | 1424.47 | 1785.33 | 12454 | 798.80 |
| Pivot | 1417.83 | 1774.42 | 12397 | 794.40 |
| Support 1 | 1412.87 | 1767.33 | 12354 | 791.80 |
| Support 2 | 1406.23 | 1756.42 | 12297 | 787.40 |
| Support 3 | 1401.27 | 1749.33 | 12254 | 784.80 |
| | | | | |
| Contract | April Gold | March Euro | April Crude Oil | June Bonds |
| Resistance 3 | 661.37 | 1.3369 | 60.56 | 113 17/32 |
| Resistance 2 | 657.83 | 1.3312 | 60.10 | 113 8/32 |
| Resistance 1 | 654.07 | 1.3276 | 59.51 | 113 1/32 |
| Pivot | 650.53 | 1.3219 | 59.05 | 112 24/32 |
| Support 1 | 646.77 | 1.3183 | 58.46 | 112 17/32 |
| Support 2 | 643.23 | 1.3126 | 58.00 | 112 8/32 |
| Support 3 | 639.47 | 1.3090 | 57.41 | 112 1/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, Mar 13th, 2007
Economic
08:30am Feb Advance Retail Sales (last 0.0%), Retail Sales Less Autos (last 0.3%)
10:00am Mar IBD/TIPP Economic Optimism (last 52.7), Jan Business Inventories (last 0.0%)
01:00pm Treasury's 10-year Note Auction results
Events
ICSC/UBSW Chain Store Sales (7:45, last 2.9%). Redbook Retail Sales (8:55, last 2.8%). CVX, NFP analyst meeting. JPMorgan Global Internet conference in NYC through 3/13. 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. ABC Consumer Confidence (last -1). Trading Ex-split: GES 2-1. Trades Ex-dividend: MO $0.86, KO $0.34.
Earnings
Before the Open: ABP CHCI DKS GIGM GS GDP HNR IFOX KR TMR MEK REV SWHC SOMX SBSA STEI TRGL. During Trading Hours: SAM. After the Close: EXM GOLF GYMB JCG SAPE SVNT SEAC UBET.
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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