Futures Trading levels and Economic reports for May 2nd
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Dear Trader,
First clues tomorrow will come if we break above 1494.50 (may make more room for upside) or a break below 1487.50 (will help give the market a push into testing todays lows)
Stay nimble in this market, we are seeing "faster trading enviroment" the last few days.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1506.37 | 1911.67 | 13310 | 833.43 |
| Resistance 2 | 1499.63 | 1899.83 | 13244 | 826.97 |
| Resistance 1 | 1495.67 | 1891.67 | 13209 | 823.23 |
| Pivot | 1488.93 | 1879.83 | 13143 | 816.77 |
| Support 1 | 1484.97 | 1871.67 | 13108 | 813.03 |
| Support 2 | 1478.23 | 1859.83 | 13042 | 806.57 |
| Support 3 | 1474.27 | 1851.67 | 13007 | 802.83 |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 684.27 | 1.3770 | 67.65 | 112 19/32 |
| Resistance 2 | 681.83 | 1.3735 | 66.90 | 112 10/32 |
| Resistance 1 | 679.57 | 1.3686 | 65.65 | 112 |
| Pivot | 677.13 | 1.3651 | 64.90 | 111 23/32 |
| Support 1 | 674.87 | 1.3602 | 63.65 | 111 13/32 |
| Support 2 | 672.43 | 1.3567 | 62.90 | 111 4/32 |
| Support 3 | 670.17 | 1.3518 | 61.65 | 110 26/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, May 02, 2007
Economic
07:30am 30am Apr Challenger Job Cuts (last –24.6%) 08:15am Apr ADP Employment Change (last 106K) 10:00am Mar Factory Orders (last 1.0%) 10:30am Crude Oil/Gasoline/Distillate Inventories 11:00am Treasury 3-year and 10-year Note and 30-year Bond funding announcements
Events
MBA Mortgage Applications (7:00, last 3.6%). DOX analyst meeting. Lehman Retail conference in NYC through 5/2. Goldman Sachs Alternative Energy conference in NYC through 5/3. DB Healthcare conference in DC through 5/3. Morgan Stanley Global Healthcare conference in FL through 5/4. Fed's Poole speaks at Community Development Conference in St. Louis at 9:30am. Treasury's Paulson speaks on China Economy in DC at 11:00am. Trades Ex-dividend: WY $0.60.
Earnings
Before the Open: AG ATG AGN ALVR ANPI WTR RATE ABX BEC BRY BIIB BBI BCO CBI CTIC CI CINF CZN CLX CTSH CTB DWSN DVN D DPZ EMCI ENB ENZN FCL GRMN HAE HL HSII HP HWCC IPCC ICE IRM JNY KNDL LFUS LOJN MKTX MA MWV NSTC NOVA NRG NUCO OGE POZN PDE RVSN RDWR RDC RYI SRE SBGI SKYW S SPW TEVA TWX RIG TRX TRW TTMI UMC VPHM VC WLSC. After the Close: APKT AEA ARG ARII ASCA APPB ASPV AIZ ATO ACLS BARE BMRN BBBB CAI CEDC FIX CNQR OFC CCI DIOD DNEX DLB DTE DRCO ECLP ESPD EXPD FARO FRT FBN GNSS GFIG GXP GW HVT HS NSIT ISSI ITRI JDSU LVS LQDT LMNX MTW MXWL MMSI MIL NABI NHP NHWK NTMD NVEC OIIM ASGN OTEX PDLI PVA PVR PSPT PGTI PXD POL PRU KWK RTSX RNWK SMDI SMSI SRX SUNH SUN SPN SUPG SYMC SYMM TTEC TTEK TWPG TWTC TRN URI UNM VRSN VIRL WLT WXS ZGEN.
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 ensure 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 1:07 PM
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