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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, June 06, 2007

Futures Trading levels and Economic reports for June 7th

 
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Dear Trader,
 
 

Futures Rollover Notice

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

For those of you trading the E-Mini S&P futures, the "Big" S&P 500 futures or any Stock Index contract (mini dow, mini russell, mini nasdaq ), it is extremely important to remember that Thursday, June. 7th, is rollover day. It is recommended that all new positions be placed in the September 2007 contract as of Thursday's trade date. GLOBEX will not roll over until Thursday morning at 8:30 A.M. Central Time, despite the fact that the trade date changes at Wednesday afternoon's opening.

Further, please be aware that the executing brokers in the June contract of the "Big" S&P 500 and NASDAQ 100 will not be "held" on ANY order, and that they will not take Cancel and Replace orders at all beginning Friday June 8th. Also, please be aware of liquidity issues in the 2nd step E-Mini S&P and E-Mini NASDAQ. Expect sharply decreased liquidity on the June contract beginning Thursday morning. Carefully consider whether you wish to place Market or Stop orders after that time.

Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.

NOTE: E-MINI rollover actually occurs at 8:30 A.M. Central Time, Thursday, but orders placed Wednesday afternoon and evening after 3:30 P.M. Central Time (before rollover) will work through Thursday's close (after rollover). Please consider carefully how you place Stop or Market orders in these contracts.

Feel free to call (800 - 454 - 9572) let us know if we can provide any further clarification, information or be of any additional assistance.

 
LEVELS:
 
Contract (JUNE 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1536.27 1941.33 13655 850.00
Resistance 2 1531.73 1934.67 13609 846.80
Resistance 1 1524.37 1924.33 13537 843.40
Pivot 1519.83 1917.67 13491 840.20
Support 1 1512.47 1907.33 13419 836.80
Support 2 1507.93 1900.67 13373 833.60
Support 3 1500.57 1890.33 13301 830.20
         
Contract  August Gold June Euro July Crude Oil Sept. Bonds 
Resistance 3 684.33 1.3593 67.49 108 23/32
Resistance 2 680.67 1.3569 66.90 108 18/32
Resistance 1 677.63 1.3540 66.43 108 14/32
Pivot 673.97 1.3516 65.84 108  9/32
Support 1 670.93 1.3487 65.37 108  5/32
Support 2 667.27 1.3463 64.78 108     
Support 3 664.23 1.3434 64.31 107 28/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, June 07, 2007


Economic
07:00am Bank of England rate decision
08:30am Initial Jobless Claims (last 310K)
10:00am Apr Wholesale Inventories (last 0.3%)
10:30am Natural Gas Inventories
11:00am Treasury's 10-year Note funding announcement
03:00pm Apr Consumer Credit (last $13.5B)
Events
More April Same Store Sales expected before the open. Piper Jaffray Consumer conference in NYC through 6/7. Stephens Spring Investment conference in NYC through 6/7. Citigroup Utilities conference in SC through 6/8. Trades Ex-dividend: BNI $0.25, FDX $0.10.
Earnings
Before the Open: ALOG CRAI NOBH SFD UTIW VOL. After the Close: CAE DSW NSM ZQK.
 
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. 
 

posted by Cannon Trading at 1:14 PM

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