Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
With out major reports to move the markets, we had one of these quiet, dull summer trading sessions.
From my experience I noticed that "summer trading sessions" usually fall into two categories....The first like we have seen today, quiet, range bound that lulls you to sleep....the other is the exact opposite. Major reports/ news + lower volume due to the summer season = wild, large moves......
Good trading!
LEVELS:
| Contract (SEPT. 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1553.77 | 2025.83 | 13822 | 866.33 |
| Resistance 2 | 1549.73 | 2019.17 | 13791 | 863.42 |
| Resistance 1 | 1546.37 | 2014.33 | 13767 | 860.83 |
| Pivot | 1542.33 | 2007.67 | 13736 | 857.92 |
| Support 1 | 1538.97 | 2002.83 | 13712 | 855.33 |
| Support 2 | 1534.93 | 1996.17 | 13681 | 852.42 |
| Support 3 | 1531.57 | 1991.33 | 13657 | 849.83 |
| | | | | |
| Contract | August Gold | Sept. Euro | August Crude Oil | Sept. Bonds |
| Resistance 3 | 672.93 | 1.3698 | 73.99 | 106 30/32 |
| Resistance 2 | 668.97 | 1.3685 | 73.50 | 106 25/32 |
| Resistance 1 | 665.73 | 1.3669 | 72.84 | 106 20/32 |
| Pivot | 661.77 | 1.3656 | 72.35 | 106 15/32 |
| Support 1 | 658.53 | 1.3640 | 71.69 | 106 10/32 |
| Support 2 | 654.57 | 1.3627 | 71.20 | 106 5/32 |
| Support 3 | 651.33 | 1.3611 | 70.54 | 106 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, July 10, 2007
Economic
09:00am Bank of Canada Rate decision
10:00am May Wholesale Inventories (last 0.3%)
Events
ICSC/UBSW Chain Store Sales (7:45, last 1.2%). Redbook Retail Sales (8:55, last 1.6%). CIBC Consumer Growth conference in Boston through 7/12. Fed's Bernanke speaks on Inflation at National bureau of Economic Research Monetary Economics seminar at 1:00pm. ABC Consumer Confidence (last -7). Trades Ex-split: EME 2-1.
Earnings
Before the Open: AYI CHTT EMMS GBX HELE ISCA PBG. After the Close: INFY ZZ.
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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