Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Slower action after the long weekend but from the close it looks like the market wants to retest highs from last week. I am expecting a more volatile session tomorrow.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1536.13 | 1932.67 | 13704 | 847.80 |
| Resistance 2 | 1530.17 | 1921.33 | 13647 | 843.90 |
| Resistance 1 | 1526.23 | 1913.67 | 13602 | 841.80 |
| Pivot | 1520.27 | 1902.33 | 13545 | 837.90 |
| Support 1 | 1516.33 | 1894.67 | 13500 | 835.80 |
| Support 2 | 1510.37 | 1883.33 | 13443 | 831.90 |
| Support 3 | 1506.43 | 1875.67 | 13398 | 829.80 |
| | | | | |
| Contract | June Gold | June Euro | July Crude Oil | June Bonds |
| Resistance 3 | 666.37 | 1.3620 | 65.88 | 109 19/32 |
| Resistance 2 | 664.13 | 1.3576 | 65.12 | 109 15/32 |
| Resistance 1 | 660.67 | 1.3519 | 64.13 | 109 9/32 |
| Pivot | 658.43 | 1.3475 | 63.37 | 109 5/32 |
| Support 1 | 654.97 | 1.3418 | 62.38 | 108 31/32 |
| Support 2 | 652.73 | 1.3374 | 61.62 | 108 27/32 |
| Support 3 | 649.27 | 1.3317 | 60.63 | 108 21/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, May 30, 2007
Economic
08:15am May ADP Employment Change (last 64K)
01:00pm Treasury's 5-year Note Auction results
02:00pm Minutes of May 9 FOMC meeting released
Events
MBA Mortgage Applications (7:00, last 1.6%). ICSC/UBSW Chain Store Sales (7:45, last 3.0%). Redbook Retail Sales (8:55, last 2.3%). CMRG, FCL, GNW, IRBT, SPAR analyst meetings. Cowen Technology conference in NYC through 6/1. Lehman Brothers Worldwide Wireless/Wireline conference through 6/1. Sanford Bernstein Strategic Decisions conference in NYC through 6/1. Trading Ex-split: POT 3-1, TSO 2-1. Trades Ex-dividend: AIG $0.165, BAC $0.56, EK $0.25, EP $0.04, HAL $0.09, HIG $0.50, K $0.291.
Earnings
Before the Open: DAKT DLTR DBRN JOYG OPSW RL SFL SOLF WSM. After the Close: CHS JRJC JAS LGF NOVL OPTM PSS SMTC TIVO.
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@cannontrading.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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