Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Relatively quiet session today. I expect differently for tomorrow as the market awaits different economic reports which will provide more clues regarding inflation and interest rates outlook.
LEVELS:
| Contract (SEPT. 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1574.57 | 2069.33 | 14173 | 868.75 |
| Resistance 2 | 1570.43 | 2062.67 | 14120 | 865.00 |
| Resistance 1 | 1564.97 | 2055.33 | 14074 | 859.50 |
| Pivot | 1560.83 | 2048.67 | 14021 | 855.75 |
| Support 1 | 1555.37 | 2041.33 | 13975 | 850.25 |
| Support 2 | 1551.23 | 2034.67 | 13922 | 846.50 |
| Support 3 | 1545.77 | 2027.33 | 13876 | 841.00 |
| | | | | |
| Contract | August Gold | Sept. Euro | August Crude Oil | Sept. Bonds |
| Resistance 3 | 673.37 | 1.3874 | 75.40 | 108 21/32 |
| Resistance 2 | 671.43 | 1.3853 | 74.95 | 108 6/32 |
| Resistance 1 | 668.87 | 1.3830 | 74.55 | 107 31/32 |
| Pivot | 666.93 | 1.3809 | 74.10 | 107 16/32 |
| Support 1 | 664.37 | 1.3786 | 73.70 | 107 9/32 |
| Support 2 | 662.43 | 1.3765 | 73.25 | 106 26/32 |
| Support 3 | 659.87 | 1.3742 | 72.85 | 106 19/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, July 17, 2007
Economic
08:30am Jun Producer Price Index (last 0.9%), PPI Ex Food & Energy (last 0.2%)
09:00am May Net Long-term TIC Flows (last $84.1B)
09:15am Jun Industrial Production (last 0.0%), Capacity Utilization (last 81.3%)
10:00am Jul IBD/TIPP Economic Optimism (last 49.1)
01:00pm Jul NAHB Housing Market Index (last 28)
Events
ICSC/UBSW Chain Store Sales (7:45, last 1.3%). Redbook Retail Sales (8:55, last 1.4%). Orthopaedic and Rehabilitation Devices Panel of the Medical Devices Advisory Committee meets at 8:00am. AMAT, COMS, CPHD, GERN analyst meetings. Fed's Hoenig speaks on Economy in Nebraska at 1:00pm. ABC Consumer Confidence (last -9).
Earnings
Before the Open: KO FRX JEF JNJ KEY MER PII RF SLM STT USB WFC. After the Close: AMB CAMP CHB CPSS CCK CSX DTLK HBHC INTC EDU PHHM PPDI TRMK USNA CHIP YHOO.
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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