Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Market took a little pause from yesterdays rally but still managed to gain a few points. If we can break 1477 tomorrow morning we may see a pull back down to 1467. Resistance on the way up is at todays high of 1482.75 on the June mini SP.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1490.57 | 1865.00 | 12960 | 843.77 |
| Resistance 2 | 1486.63 | 1859.00 | 12903 | 840.38 |
| Resistance 1 | 1482.87 | 1854.50 | 12865 | 837.07 |
| Pivot | 1478.93 | 1848.50 | 12808 | 833.68 |
| Support 1 | 1475.17 | 1844.00 | 12770 | 830.37 |
| Support 2 | 1471.23 | 1838.00 | 12713 | 826.98 |
| Support 3 | 1467.47 | 1833.50 | 12675 | 823.67 |
| | | | | |
| Contract | June Gold | June Euro | May Crude Oil | June Bonds |
| Resistance 3 | 698.43 | 1.3705 | 62.45 | 112 2/32 |
| Resistance 2 | 696.97 | 1.3666 | 61.25 | 111 20/32 |
| Resistance 1 | 694.73 | 1.3635 | 60.60 | 111 12/32 |
| Pivot | 693.27 | 1.3596 | 60.00 | 110 30/32 |
| Support 1 | 691.03 | 1.3565 | 59.20 | 110 22/32 |
| Support 2 | 689.57 | 1.3526 | 58.60 | 110 8/32 |
| Support 3 | 687.33 | 1.3495 | 57.90 | 110 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, April 18, 2007
Economic
10:30am 30am Crude Oil/Gasoline/Distillate Inventories
Events
MBA Mortgage Applications (7:00, last –0.4%). Cardiovascular and Renal Drugs Advisory Committee meets at 8:00am. AG Edwards Media & Entertainment conference in Las Vegas through 4/18.
Earnings
Before the Open: AOS ABT AMFI APH AMR AIT ASML BK CIT CBH DSL FCFS GLYT ITW JPM NITE LUFK MOT PJC PNC RLI SYNT MDCO TRB UTX WWW. After the Close: ADS ALL AMB ATR ARNA AVCI CTXS CBST ETFC EBAY FHN GILD RX ISIL KMP KNX KFT LRW LOGI MOGN MGI NVLS OMI SOV SPSN STLY SYK SRDX TER TMK.
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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