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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, July 10, 2007

Futures Trading levels and Economic reports for July 11th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
I wrote yesterday the following:
 
From my experience I noticed that "summer trading sessions" usually fall into two categories....The first like we have seen today ( July 9th ), 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......
 
 

Well I guess today's trading fell into the second category....

 

Make sure you trade with stops as thin volume can exaggerate the magnitude of the moves.

 
LEVELS:
 
Contract (SEPT. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1550.43 2024.33 13819 861.70
Resistance 2 1543.97 2016.67 13767 857.60
Resistance 1 1532.13 2004.33 13677 850.70
Pivot 1525.67 1996.67 13625 846.60
Support 1 1513.83 1984.33 13535 839.70
Support 2 1507.37 1976.67 13483 835.60
Support 3 1495.53 1964.33 13393 828.70
         
Contract  August Gold Sept. Euro August Crude Oil Sept. Bonds 
Resistance 3 672.33 1.3962 74.57 108 25/32
Resistance 2 669.67 1.3867 73.84 108  8/32
Resistance 1 667.03 1.3816 73.32 107 30/32
Pivot 664.37 1.3721 72.59 107 13/32
Support 1 661.73 1.3670 72.07 107  3/32
Support 2 659.07 1.3575 71.34 106 18/32
Support 3 656.43 1.3524 70.82 106  8/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, July 11, 2007


Economic
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
MBA Mortgage Applications (7:00, last 0.1%). CIBC Consumer Growth conference in Boston through 7/12. House Panel will hold hearings on Hedge Funds today. Fed's Plosser speaks on Monetary Policy in London at 11:00am. Same Store Sales to be reported after the close. Trades Ex-dividend: MS $0.27.
Earnings
Before the Open: AIR ACGY IGTE WWW. After the Close: CHAP DNA RECN RT YUM.
 
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 1:22 PM

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