Cannon Trading Futures Blog: Daily Support and Resistance Levels
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
News last night regarding Bear Stearns troubled hedge fund, related to the subprime mortgage market, send the markets much lower over night and a volatile session during the day. However, the markets were able to erase most losses into the close and before tomorrows FOMC MINUTES release.
LEVELS:
| Contract (SEPT. 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1575.70 | 2091.83 | 14202 | 868.60 |
| Resistance 2 | 1566.60 | 2075.92 | 14121 | 860.50 |
| Resistance 1 | 1560.70 | 2067.83 | 14062 | 856.45 |
| Pivot | 1551.60 | 2051.92 | 13981 | 848.35 |
| Support 1 | 1545.70 | 2043.83 | 13922 | 844.30 |
| Support 2 | 1536.60 | 2027.92 | 13841 | 836.20 |
| Support 3 | 1530.70 | 2019.83 | 13782 | 832.15 |
| | | | | |
| Contract | August Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 686.23 | 1.3949 | 76.45 | 108 31/32 |
| Resistance 2 | 680.77 | 1.3906 | 75.85 | 108 18/32 |
| Resistance 1 | 677.23 | 1.3866 | 75.45 | 108 8/32 |
| Pivot | 671.77 | 1.3823 | 74.85 | 107 27/32 |
| Support 1 | 668.23 | 1.3783 | 74.45 | 107 17/32 |
| Support 2 | 662.77 | 1.3740 | 73.85 | 107 4/32 |
| Support 3 | 659.23 | 1.3700 | 73.45 | 106 26/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, July 19, 2007
Economic
08:30am Initial Jobless Claims (last 308K)
10:00am Jun Leading Indicators (last 0.3%)
10:30am Natural Gas Inventories
11:00am Treasury's 20-year TIPS Note announcement
12:00pm Jul Philadelphia Fed (last 18.0)
02:00pm Minutes from the June 28 FOMC Meeting
Events
Fed's Bernanke testifies before Senate Panel at 9:30am. Fed's Moskow speaks in Philadelphia at 12:30pm. Trades Ex-dividend: CL $0.36.
Earnings
Before the Open: ALDN AME ARB AVCI AVCT BMI BAC BK BAX BBT CDWC CAL CBE COT CY DHR DJ DSL FCS FITB FCFS FHN FCX GPC HOG HSY HNI HON HBAN ITW MN IGT IONA KVHI LSTR MAN MNI MEG MTG MLAN NDAQ NAFC NUE OXPS PTEC PNC PPG RDWR RS SWY SAP SCHL POOL SHW SPWR STI AMTD TXT TLGD UNP UNH VFC VTNC WFT WYE. During Trading Hours: CRBC OO WCC. After the Close: ACTS AMD BRCM CAMD COF CYBS CYT FNB FDC GOOG HUBG INFA IWOV ISRG LEG MSFT MHK PKTR PMCS PLCM SNDK STX SYK TPX XPRSA UB VMSI XLNX ZION.
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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