Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
FOMC announcement tomorrow at 2:15 PM eastern time.
Volatility jumps from about 5 minutes before the announcement until the end of the session.
Manage your risk wisely.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1523.27 | 1933.17 | 13462 | 846.25 |
| Resistance 2 | 1518.53 | 1922.33 | 13408 | 840.25 |
| Resistance 1 | 1515.27 | 1913.67 | 13377 | 835.75 |
| Pivot | 1510.53 | 1902.83 | 13323 | 829.75 |
| Support 1 | 1507.27 | 1894.17 | 13292 | 825.25 |
| Support 2 | 1502.53 | 1883.33 | 13238 | 819.25 |
| Support 3 | 1499.27 | 1874.67 | 13207 | 814.75 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 694.33 | 1.3735 | 63.84 | 112 21/32 |
| Resistance 2 | 691.67 | 1.3689 | 63.12 | 112 16/32 |
| Resistance 1 | 689.53 | 1.3629 | 62.69 | 112 5/32 |
| Pivot | 686.87 | 1.3583 | 61.97 | 112 |
| Support 1 | 684.73 | 1.3523 | 61.54 | 111 21/32 |
| Support 2 | 682.07 | 1.3477 | 60.82 | 111 16/32 |
| Support 3 | 679.93 | 1.3417 | 60.39 | 111 5/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, May 09, 2007
Economic
10:30am 30am Crude Oil/Gasoline/Distillate Inventories 02:15pm FOMC Rate Decision expected
Events
MBA Mortgage Applications (7:00, last 0.6%). Oncologic Drugs Advisory Committee meets at 8:00am. ALDN, ELNK, IKON, NT, TXN 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. AGEdwards Leisure/Lodging conference in NYC through 5/10. Same Store Sales to be reported after the close. Trades Ex-dividend: BA $0.35, GM $0.25, PFE $$0.29.
Earnings
Before the Open: ALLT ASN AZPN B BRL BCRX BORL CACH CRZO CTEC XEC CLHB CXR CMLS DTV EIX EFD EMAG EBS XJT FLA FWLT FTO GCA HLS HSP HGSI IDA IDEV NRGY ISPH IART KEM ID LM MMS MSA MGAM NWS NICE PCP PBH TRK STXS STRL SURW TLM TOA TOL TRGL THS TXU UIC WW. After the Close: TFSM ALJ BAS BRKS CRUS EAGL FLS FTI GMKT GDP HIMX IO IPAR JUPM LOCM MRN MRGE NKTR NTN NUVO PKII LGBT RSCR SALM SCI SIX SNS TALX TK TTEC KNOT TRMS VSTA VNUS WNG WSSI WEDC WFMI ZIPR.
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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