Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Strong battle between the bulls and the bears the last few sessions but as it seems right now, the bulls are still winning and on their way to make a new high if tomorrows reports are within expectations.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1534.10 | 1937.00 | 13697 | 835.70 |
| Resistance 2 | 1526.20 | 1919.00 | 13614 | 829.10 |
| Resistance 1 | 1522.00 | 1909.50 | 13569 | 825.50 |
| Pivot | 1514.10 | 1891.50 | 13486 | 818.90 |
| Support 1 | 1509.90 | 1882.00 | 13441 | 815.30 |
| Support 2 | 1502.00 | 1864.00 | 13358 | 808.70 |
| Support 3 | 1497.80 | 1854.50 | 13313 | 805.10 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 679.23 | 1.3707 | 63.73 | 111 15/32 |
| Resistance 2 | 675.37 | 1.3668 | 63.26 | 111 9/32 |
| Resistance 1 | 668.43 | 1.3600 | 62.91 | 111 4/32 |
| Pivot | 664.57 | 1.3561 | 62.44 | 110 30/32 |
| Support 1 | 657.63 | 1.3493 | 62.09 | 110 25/32 |
| Support 2 | 653.77 | 1.3454 | 61.62 | 110 19/32 |
| Support 3 | 646.83 | 1.3386 | 61.27 | 110 14/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, May 17, 2007
Economic
08:30am Initial Jobless Claims (last 297K)
10:00am Apr Leading Indicators (last 0.1%)
10:30am Natural Gas Inventories
12:00pm May Philadelphia Fed (last 0.2)
Events
Vaccines and Related Biological Products Advisory Committee meets at 8:00am. SPSN analyst meeting. Former Fed Chairman Greenspan speaks at conference in Atlanta at 8:30am. Goldman Sachs Basic Materials conference in NYC through 5/17. DB Technology conference in SF through 5/17. Wedbush Institutional Investor conference in NYV through 5/17. BofA Small/Mid Cap conference in Boston through 5/17. Fed's Moskow gives Welcome Remarks at Banking Conference in Chicago at 9:15am. Fed's Bernanke speaks on Subprime Mortgages in Chicago at 9:30am.
Earnings
Before the Open: AAP BRC JCP PDC. After the Close: ADSK CAMP FMCN INTU KSS KOPN LTXX MRVL JWN SNIC.
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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