Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Good day-trading range on the market today, considering there were no economic reports or major earnings. That will change tomorrow as we have a few reports through out the day that can move the market. (see below for details and times). Todays high & low will be major levels to watch for tomorrow.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1528.23 | 1941.17 | 13515 | 842.17 |
| Resistance 2 | 1521.97 | 1928.08 | 13467 | 837.83 |
| Resistance 1 | 1515.33 | 1912.17 | 13428 | 831.17 |
| Pivot | 1509.07 | 1899.08 | 13380 | 826.83 |
| Support 1 | 1502.43 | 1883.17 | 13341 | 820.17 |
| Support 2 | 1496.17 | 1870.08 | 13293 | 815.83 |
| Support 3 | 1489.53 | 1854.17 | 13254 | 809.17 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 680.80 | 1.3615 | 63.64 | 111 18/32 |
| Resistance 2 | 677.70 | 1.3596 | 63.28 | 111 15/32 |
| Resistance 1 | 673.90 | 1.3580 | 62.87 | 111 9/32 |
| Pivot | 670.80 | 1.3561 | 62.51 | 111 6/32 |
| Support 1 | 667.00 | 1.3545 | 62.10 | 111 |
| Support 2 | 663.90 | 1.3526 | 61.74 | 110 29/32 |
| Support 3 | 660.10 | 1.3510 | 61.33 | 110 23/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, May 15, 2007
Economic
08:30am May Empire Manufacturing (last 3.8), Apr Consumer Price Index (last 0.6%), CPI Ex Food & Energy (last 0.1%), CPI NSA (last 205.352)
09:00am Mar Net Long-term TIC Flows (last $58.1B)
10:00am May IBD/TIPP Economic Optimism (last 45.5)
01:00am May NAHB Housing Market Index (last 33)
Events
ICSC/UBSW Chain Store Sales (7:45, last –0.9%). Fed's Lockhart gives more Welcome Remarks at 8:00am. Fed's Bernanke speaks at Atlanta Fed Conference at 8:10am. Redbook Retail Sales (8:55, last 0.1%). ACF, TMO, UBET analyst meetings. Morgan Stanley Communications conference in DC through 5/16. Goldman Sachs Basic Materials conference in NYC through 5/17. DB Technology conference in SF through 5/17. Fed's Minehan moderates panel on Derivatives at 9:15am. Fed's Mishkin moderates panel on Derivatives at 11:00am. ABC Consumer Confidence (last -5). Fed's Kroszner speaks on Capital Flows in Argentina at 6:00pm. Fed's Geithner speaks on Derivatives in Atlanta at 7:15pm. Fed's Hoenig speaks in Denver on Monetary Policy at 9:45pm. Trades Ex-dividend: MSFT $0.10.
Earnings
Before the Open: AER ACAT DCX ESLT FOSL HD IAG JASO TJX WMT WNS. After the Close: AMAT CPWR PLAB.
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.
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