Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Choppy, narrow range market today ahead of Wednesday's FOMC rate decision.
While I think we may see a bit more range tomorrow, I don't expect a big move either way before the fed decision on Wednesday.
Good trading!
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1519.20 | 1920.00 | 13391 | 842.50 |
| Resistance 2 | 1517.80 | 1916.00 | 13371 | 840.50 |
| Resistance 1 | 1515.70 | 1911.00 | 13353 | 837.50 |
| Pivot | 1514.30 | 1907.00 | 13333 | 835.50 |
| Support 1 | 1512.20 | 1902.00 | 13315 | 832.50 |
| Support 2 | 1510.80 | 1898.00 | 13295 | 830.50 |
| Support 3 | 1508.70 | 1893.00 | 13277 | 827.50 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 696.27 | 1.3683 | 62.61 | 112 12/32 |
| Resistance 2 | 694.73 | 1.3666 | 62.16 | 112 7/32 |
| Resistance 1 | 692.57 | 1.3646 | 61.81 | 112 2/32 |
| Pivot | 691.03 | 1.3629 | 61.36 | 111 29/32 |
| Support 1 | 688.87 | 1.3609 | 61.01 | 111 24/32 |
| Support 2 | 687.33 | 1.3592 | 60.56 | 111 19/32 |
| Support 3 | 685.17 | 1.3572 | 60.21 | 111 14/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, May 08, 2007
Economic
10:00am 00am Mar Wholesale Inventories (last 0.5%) 01:00pm Treasury's 10-year Note Auction results
Events
ICSC/UBSW Chain Store Sales (7:45, last –1.6%). Redbook Retail Sales (8:55, last 0.1%). BTH, DVW, SCG analyst meetings. Bear Stearn Global Transportation conference in NYC through 5/9. BofA Basic Industrials conference in NYC through 5/10. Robert Baird Growth conference in Chicago through 5/10. ABC Consumer Confidence (last -5). TXRH replaces GISX in S&P 600 after the close. Trades Ex-dividend: AEP $0.39, ETR $0.54, IBM $0.40.
Earnings
Before the Open: ABY ALD AHCI AQNT ILA BECN BBG BIVN BLTI BRNC CHD CBB CDL CDE CVS DEPO DTPI DUK DYN EP EXPE WOLF HET HSIC HEW HOC KPA IDCC VTIV IPGP JRCC JBSS LAZ TVL LIOX MIC MMC MLM MVL TMR TAP MNTA NSR NUHC OPTN ORCT ORA PKD PXR PFGC PGO PEC PNK PNCL PLA RTIX REV SLXP SOMX SBSA STE SRZ THC TYC UAG VSE WTI WRNC WMG WCI WON. During Trading Hours: SAM SNHY. After the Close: ABCO MDRX ARBX ATW BDE CELL CALL CBM CRL CSCO CLWR CCRT CNO DIGE DJO ERTS ENER ESE FCH GTW GOLF HOKU JKHY KEA KNXA LEAP MVSN MCHX MSSR MRX MFLX NMHC NUAN ORCC OPTV OPMR OSUR PZZA PCR FACE PLNR PCLN PL PRSC SONE STAK SGY STKL SUPX TRLG UTI VTR DIS WPTE 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 ensure 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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