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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, May 10, 2007

Futures Trading levels and Economic reports for May11th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
I mentioned yesterday that the market started to look tired at the higher levels. Now the question is  "is this just another healthy correction in this bull run or have we witnessed a medium term top? "
 
Key support for tomorrow is 1490 basis the June SP500
 
LEVELS:
 
Contract (JUNE 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1527.03 1933.33 13461 842.73
Resistance 2 1520.27 1922.17 13413 837.47
Resistance 1 1509.73 1904.33 13341 830.78
Pivot 1502.97 1893.17 13293 825.52
Support 1 1492.43 1875.33 13221 818.83
Support 2 1485.67 1864.17 13173 813.57
Support 3 1475.13 1846.33 13101 806.88
         
Contract  June Gold June Euro June Crude Oil June Bonds 
Resistance 3 689.17 1.3663 63.51 112  4/32
Resistance 2 684.33 1.3624 63.00 111 29/32
Resistance 1 675.67 1.3563 62.41 111 23/32
Pivot 670.83 1.3524 61.90 111 16/32
Support 1 662.17 1.3463 61.31 111 10/32
Support 2 657.33 1.3424 60.80 111  3/32
Support 3 648.67 1.3363 60.21 110 29/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Friday, May 11, 2007


Economic
08:30am 30am Apr Producer Price Index (last 1.0%), PPI Ex Food & Energy (last 0.0%), Advance Retail Sales (last 0.7%), Retail Sales Less Autos (last 0.8%) 09:00am RBC Cash Index 10:00am Mar Business Inventories (last 0.3%)
Events
Goldman Sachs Power/Utility conference in NYC through 5/11.
Earnings
Before the Open: ALU CHCI DRS EMMS GG HELE NVAX. After the Close: None.
 
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 / commodity broker
Cannon Trading Co Inc. - home of online futures trading
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 1:32 PM

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