Cannon Trading Co. Inc.
We believe. The next frontier in futures trading.
Since 1988

Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, June 27, 2007

Futures Trading levels and Economic reports for Thursday, June 28th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Another day of 20+ points range in the SP500, this time to the upside.....
 
 
The Fed is meeting today (Wednesday June 27th) and tomorrow Thursday June 28th for what is widely known as the FOMC.

Many traders know that FOMC announcements (due tomorrow at 2:15 PM eastern) affect many markets and traders will analyze the statement for clues regarding future outlook of interest rates.

No change in the fed funds rate target is likely, along with little if any change in the statement. There is little doubt that Fed policy will be on hold for a while. The real question now is just how far the market will slide before it finds some solid support.

To learn more about FOMC, monetary policy and other useful information, please visit: http://www.federalreserve.gov/FOMC/

LEVELS:
 
Contract (SEPT. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1552.37 2004.00 13767 874.15
Resistance 2 1536.03 1980.50 13649 860.20
Resistance 1 1527.47 1968.00 13585 852.90
Pivot 1511.13 1944.50 13467 838.95
Support 1 1502.57 1932.00 13403 831.65
Support 2 1486.23 1908.50 13285 817.70
Support 3 1477.67 1896.00 13221 810.40
         
Contract  August Gold Sept. Euro August Crude Oil Sept. Bonds 
Resistance 3 651.83 1.3550 72.05 107 30/32
Resistance 2 649.67 1.3523 70.68 107 23/32
Resistance 1 647.23 1.3505 69.83 107 14/32
Pivot 645.07 1.3478 68.46 107  7/32
Support 1 642.63 1.3460 67.61 106 30/32
Support 2 640.47 1.3433 66.24 106 23/32
Support 3 638.03 1.3415 65.39 106 14/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, June 28, 2007


Economic
8:30 Initial Jobless Claims (last 324K), Q1Final GDP (last 0.6%), Q1 Final Personal Consumption (last 4.4%), Q1 Final GDP Price Index (last 4.0%), Q1 Final Core PCE (last 2.2%)
10:00 May Help Wanted Index (last 29)
10:30 Natural Gas Inventories
2:15 FOMC Rate Decision Expected (5.25%)
Events
Jefferies Healthcare Conference RBC Energy Infrastructure and Trust Conference. Wachovia CEO SummitTrades Ex-split: CCF 2-1.
Earnings
Before the Open: CRMT FDO GIS GRB KBH MON MSM RAD STZ WOR. During Trading Hours: TONS. After the Close: ACN ARRO BBOX CBK COMS CREL EGLS FINL HMX NINE PALM RIMM RBN SLR TIBX
 
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 1:24 PM

0 Comments:

Post a Comment

<< Home