Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Strong close after the release of FOMC minutes. Some important reports early tomorrow morning should provide direction for the rest of the day, last day in May.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1562.60 | 1972.83 | 13910 | 863.50 |
| Resistance 2 | 1548.40 | 1948.67 | 13785 | 854.25 |
| Resistance 1 | 1541.00 | 1935.83 | 13720 | 849.50 |
| Pivot | 1526.80 | 1911.67 | 13595 | 840.25 |
| Support 1 | 1519.40 | 1898.83 | 13530 | 835.50 |
| Support 2 | 1505.20 | 1874.67 | 13405 | 826.25 |
| Support 3 | 1497.80 | 1861.83 | 13340 | 821.50 |
| | | | | |
| Contract | June Gold | June Euro | July Crude Oil | Sept. Bonds |
| Resistance 3 | 657.13 | 1.3519 | 64.61 | 109 26/32 |
| Resistance 2 | 655.77 | 1.3494 | 64.23 | 109 20/32 |
| Resistance 1 | 654.43 | 1.3467 | 63.86 | 109 13/32 |
| Pivot | 653.07 | 1.3442 | 63.48 | 109 7/32 |
| Support 1 | 651.73 | 1.3415 | 63.11 | 109 |
| Support 2 | 650.37 | 1.3390 | 62.73 | 108 26/32 |
| Support 3 | 649.03 | 1.3363 | 62.36 | 108 19/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, May 31, 2007
Economic
08:30am Initial Jobless Claims (last 311K), Q1 Preliminary GDP Annualized (last 1.3%), Personal Consumption (last 3.8%), GDP Price Index (last 4.0%), Core PCE Q/Q (last 2.2%)
09:45am May Chicago Purchasing Manager (last 52.9)
10:00am Apr Construction Spending (last 0.2%), Help Wanted Index (last 30), Q1 House Price Index Q/Q (last 1.1%)
10:30am Natural Gas Inventories, Crude Oil/Gasoline/Distillate Inventories
Events
EU/Iran Nuclear talks set to resume. 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. HNZ, MA, PHG analyst meetings. NVLS mid-quarter update. Trading Ex-split: FMX 3-1, VSEA 3-2.
Earnings
Before the Open: BIG BTH CIEN CONN COST FRED GCO JTX LAYN MOV TIF. During Trading Hours: NX. After the Close: BRCD DELL ESL HEI HOV JCG NCS PLL WIND.
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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