Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Early morning reports will provide more data regarding inflation (CPI), hence interest rate outlook, hence the market direction.....
Either way you look at it, the market has been very volatile recently and sometimes it is not necessarily the trades you take that make a difference but rather the trades you should NOT take. BE PATIENT with your set ups.
LEVELS:
| Contract (SEPT. 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1555.27 | 1975.33 | 13832 | 856.83 |
| Resistance 2 | 1548.63 | 1965.67 | 13769 | 852.92 |
| Resistance 1 | 1544.07 | 1958.33 | 13730 | 849.58 |
| Pivot | 1537.43 | 1948.67 | 13667 | 845.67 |
| Support 1 | 1532.87 | 1941.33 | 13628 | 842.33 |
| Support 2 | 1526.23 | 1931.67 | 13565 | 838.42 |
| Support 3 | 1521.67 | 1924.33 | 13526 | 835.08 |
| | | | | |
| Contract | August Gold | June Euro | July Crude Oil | Sept. Bonds |
| Resistance 3 | 667.00 | 1.3418 | 69.77 | 107 5/32 |
| Resistance 2 | 662.50 | 1.3392 | 68.78 | 106 24/32 |
| Resistance 1 | 659.20 | 1.3372 | 68.22 | 106 9/32 |
| Pivot | 654.70 | 1.3346 | 67.23 | 105 28/32 |
| Support 1 | 651.40 | 1.3326 | 66.67 | 105 13/32 |
| Support 2 | 646.90 | 1.3300 | 65.68 | 105 |
| Support 3 | 643.60 | 1.3280 | 65.12 | 104 17/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Friday, June 15, 2007
Economic
08:30am Jun Empire Manufacturing (last 8.0), May Consumer Price index (last 0.4%), CPI Ex Food & Energy (last 0.2%), CPI NSA (last 206.686), Q1 Current Account Balance (last -$195.8)
09:00am Apr Net Long-term TIC Flows (last $67.6B)
09:15am May Industrial Production (last 0.7%), Capacity Utilization (last 81.6%)
10:00am Jun Preliminary U. of Michigan Confidence (last 88.3)
Events
Fed's Lockhart gives Welcome Remarks at Atlanta conference at 8:20am. Fed's Bernanke speaks at Credit conference in Atlanta at 8:30am. Fed's Yellen speaks at Free Trade conference in MA at 12:20. Trading Ex-split: CROX 2-1, WMS 3-2.
Earnings
Before the Open: WGO. After the Close: None.
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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