Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
China seems to be the tone setter as far as the direction of our stock market, therefore it is important to follow what the night market did and be aware of major moves in the Chinese stock market. For now it seems like our stock market is still pretty resilient and the moves up are faster and more powerful than the moves down.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1548.97 | 1961.67 | 13761 | 862.67 |
| Resistance 2 | 1543.23 | 1949.33 | 13709 | 857.83 |
| Resistance 1 | 1538.47 | 1942.67 | 13663 | 854.17 |
| Pivot | 1532.73 | 1930.33 | 13611 | 849.33 |
| Support 1 | 1527.97 | 1923.67 | 13565 | 845.67 |
| Support 2 | 1522.23 | 1911.33 | 13513 | 840.83 |
| Support 3 | 1517.47 | 1904.67 | 13467 | 837.17 |
| | | | | |
| Contract | August Gold | June Euro | July Crude Oil | Sept. Bonds |
| Resistance 3 | 682.20 | 1.3627 | 67.01 | 109 9/32 |
| Resistance 2 | 680.50 | 1.3595 | 66.60 | 109 1/32 |
| Resistance 1 | 677.80 | 1.3561 | 66.11 | 108 23/32 |
| Pivot | 676.10 | 1.3529 | 65.70 | 108 15/32 |
| Support 1 | 673.40 | 1.3495 | 65.21 | 108 5/32 |
| Support 2 | 671.70 | 1.3463 | 64.80 | 107 29/32 |
| Support 3 | 669.00 | 1.3429 | 64.31 | 107 19/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, June 06, 2007
Economic
07:30am May Challenger Job Cuts (last 18.4%)
07:45am ECB Rate Decision
08:30am Q1 Final Nonfarm Productivity (last 1.7%), Unit Labor Costs (last 0.6%)
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
Fed's Pianalto speaks on Monetary Policy Strategy in Frankfurt at 3:45am. MBA Mortgage Applications (7:00, last –7.3%). Congressional hearing on student loans and SLM buyout deal. FTN Midwest Healthcare conference in NYC through 6/6. Piper Jaffray Consumer conference in NYC through 6/7. Stephens Spring Investment conference in NYC through 6/7. NSC, NYX analyst meetings. Fed's Lacker speaks on Economy in Maryland at 9:50am. Fed's Hoenig speaks on Policy and Economy in Wyoming at 2:45pm. Same Store Sales to be reported after the close. Trading Ex-split: TSBK 2-1. Trades Ex-dividend: MRK $0.38, PEP $0.375, SLE $0.10.
Earnings
Before the Open: KFY. After the Close: ADCT CMTL DDMX GEF MATK SAI SEAC SHFL.
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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