Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Another choppy session turned into a sell off as the fed gathers for a two day meeting with rate decision expected Thursday.
Large part of the sell off came after the close of the cash market which leads me to think sell programs got active once cash took out the low from yesterday.
it will be very interesting to see the market action for the rest of the week. In times like this, preservation of trading/risk capital probably becomes number one priority.
LEVELS:
| Contract (SEPT. 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1533.00 | 1965.33 | 13669 | 846.00 |
| Resistance 2 | 1526.10 | 1956.17 | 13615 | 842.50 |
| Resistance 1 | 1512.70 | 1941.33 | 13505 | 836.00 |
| Pivot | 1505.80 | 1932.17 | 13451 | 832.50 |
| Support 1 | 1492.40 | 1917.33 | 13341 | 826.00 |
| Support 2 | 1485.50 | 1908.17 | 13287 | 822.50 |
| Support 3 | 1472.10 | 1893.33 | 13177 | 816.00 |
| | | | | |
| Contract | August Gold | Sept. Euro | August Crude Oil | Sept. Bonds |
| Resistance 3 | 659.47 | 1.3568 | 70.30 | 107 14/32 |
| Resistance 2 | 655.63 | 1.3542 | 69.72 | 107 8/32 |
| Resistance 1 | 650.47 | 1.3520 | 68.75 | 107 1/32 |
| Pivot | 646.63 | 1.3494 | 68.17 | 106 27/32 |
| Support 1 | 641.47 | 1.3472 | 67.20 | 106 20/32 |
| Support 2 | 637.63 | 1.3446 | 66.62 | 106 14/32 |
| Support 3 | 632.47 | 1.3424 | 65.65 | 106 7/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, June 27, 2007
Economic
10:30 May Durable Goods Orders (last 0.8%), Ex-Transportation (last 1.9%)
10:30 Crude Oil/Gasoline/Distillate Inventories
1:00 Treasury announces $13B 5-year note auction results
Events
MBA Mortgage Applications (7:00, last –3.4%).Treasury's Paulson speaks at NYSE at 12:55. Pediatric Oncology Subcommittee of the Oncologic Drugs Advisory Committee 8:00am. Circulatory System Devices Panel of the Medical Devices Advisory Committee 8:00am. Jefferies Healthcare Conference. IPO Lock-up: ARCC NTLS OHI TTEC. Trades Ex-split: YUM 2-1. Trades Ex-dividend: DOW $0.42, OMX $0.15, USB $0.40.
Earnings
Before the Open: CAG CKR MKC PKE SMSC UNF. After the Close: ATML BBBY DISK INTV MLHR MU PAYX RHT SMOD XRTX.
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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