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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, June 20, 2007

Futures Trading levels and Economic reports for June 21

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 

A gap open and a new high on the SP cash failed hard and resulted with a hard sell off. While this market is far from being in a bear environment, the last few months we are seeing stronger corrections suggesting the strong confidence the bulls had up until February is losing momentum.

A break below 1500 basis the Sept. SP500 can trigger a longer term sell off.

 
LEVELS:
 
Contract (SEPT. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1570.47 1993.17 13968 869.37
Resistance 2 1561.23 1982.83 13892 863.93
Resistance 1 1543.97 1965.67 13748 853.37
Pivot 1534.73 1955.33 13672 847.93
Support 1 1517.47 1938.17 13528 837.37
Support 2 1508.23 1927.83 13452 831.93
Support 3 1490.97 1910.67 13308 821.37
         
Contract  August Gold Sept. Euro August Crude Oil Sept. Bonds 
Resistance 3 668.87 1.3502 71.56 107 18/32
Resistance 2 666.93 1.3490 70.55 107 10/32
Resistance 1 663.47 1.3466 69.71 106 30/32
Pivot 661.53 1.3454 68.70 106 22/32
Support 1 658.07 1.3430 67.86 106 10/32
Support 2 656.13 1.3418 66.85 106  2/32
Support 3 652.67 1.3394 66.01 105 22/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, June 21, 2007


Economic
08:30am Initial Jobless Claims (last 311K)
10:00am May Leading Indicators (last –0.5%)
10:30am Natural Gas Inventories
11:00am Treasury's 2-year and 5-year Note funding announcements
12:00pm Jun Philadelphia Fed (last 4.2)
Events
CBB, MCK analyst meeting. Fed's Consumer Advisory Council meets on Home Lending in DC at 9:00am. William Blair Growth Stock confernce in Chicago through 6/21. Trades Ex-dividend: GE $0.28, HNZ $0.38.
Earnings
Before the Open: AGE AM GRB HRB SJM PIR. After the Close: COGN JBL TEK.
 
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 1:10 PM

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