Cannon Trading Futures Blog: Daily Support and Resistance Levels
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
FOMC is behind us and the Fed left rates as is. The result so far is another new high on the stock market but the action to the upside seems to be getting a little tired..... all I can advice is to trade with caution, be nimble and be ready for the un expected.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1531.20 | 1940.83 | 13513 | 854.00 |
| Resistance 2 | 1525.00 | 1929.67 | 13461 | 847.25 |
| Resistance 1 | 1520.60 | 1920.83 | 13425 | 841.50 |
| Pivot | 1514.40 | 1909.67 | 13373 | 834.75 |
| Support 1 | 1510.00 | 1900.83 | 13337 | 829.00 |
| Support 2 | 1503.80 | 1889.67 | 13285 | 822.25 |
| Support 3 | 1499.40 | 1880.83 | 13249 | 816.50 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 696.67 | 1.3623 | 63.87 | 112 7/32 |
| Resistance 2 | 691.83 | 1.3606 | 63.08 | 112 2/32 |
| Resistance 1 | 687.17 | 1.3576 | 62.32 | 111 22/32 |
| Pivot | 682.33 | 1.3559 | 61.53 | 111 17/32 |
| Support 1 | 677.67 | 1.3529 | 60.77 | 111 5/32 |
| Support 2 | 672.83 | 1.3512 | 59.98 | 111 |
| Support 3 | 668.17 | 1.3482 | 59.22 | 110 20/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, May 10, 2007
Economic
07:00am 00am Bank of England Rate Decision expected 07:45am ECB's Rate Decision expected 08:30am Initial Jobless Claims (last 305K), Apr Import Price Index (last 1.7%), Mar Trade Balance (last -$58.4B) 10:30am Natural Gas Inventories 01:00pm Treasury's 30-year Bond Auction results 02:00pm Apr Monthly Budget Statement (last $118.8B)
Events
More April Same Store Sales expected before the open. Oncologic Drugs Advisory Committee meets at 8:00am. DNR, MOS, STM analyst meetings. 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. Buckingham Specialty Pharmaceutical conference in Boston. Goldman Sachs Power/Utility conference in NYC through 5/11. Fed's Moskow gives Welcome Remarks at Payments conference in Chicago at 9:00am. Fed's Kroszner speaks at Payments conference in Chicago at 11:15am. Trading Ex-split: ATR 2-1. Trades Ex-dividend: ROK $0.29, XOM $0.35.
Earnings
Before the Open: KDE ABBI ARXT STST BVF CPE CNTY ED CNSL XTEX XTXI CRYP DK DISH FBST HEES HB IFOX IPG IHR KG LB LAMR MDTH MEMY MEK MGPI MEND NRF OHB PDX PRFT PCG PDE RTK SLE SPC SPH SWSI TLCV TWTR RMIX VIA VTAL VG WIN. After the Close: JOBS ACTS ADPT AIRN AIG ASYT ABTL AXCA CPKI CBOU CEGE COGO COSI DEIX DTSI GCOM SRVY KNTA MAMA UEPS NVDA PLLL PGIC RMKR BRLC THQI TMTA WEBM INT.
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.
0 Comments:
Post a Comment
<< Home