Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
SP 500 had a 40 points range from high to low. The market witnessed 10 points move both ways, at times in less than 5-10 minutes! EXTREME volatility!
The ranges and volatility provide opportunities as well as RISK!
Be smart, use stops and only allow yourself to risk a certain amount of money per day. Don't let a bad trading day turn into one that eats your whole account balance.
LEVELS:
| Contract (SEPT. 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1475.00 | 1919.00 | 13323 | 796.58 |
| Resistance 2 | 1460.80 | 1914.50 | 13242 | 787.67 |
| Resistance 1 | 1437.40 | 1912.00 | 13078 | 780.33 |
| Pivot | 1423.20 | 1907.50 | 12997 | 771.42 |
| Support 1 | 1399.80 | 1905.00 | 12833 | 764.08 |
| Support 2 | 1385.60 | 1900.50 | 12752 | 755.17 |
| Support 3 | 1362.20 | 1898.00 | 12588 | 747.83 |
| | | | | |
| Contract | August Gold | Sept. Euro | Sept. Crude Oil | Sept. Bonds |
| Resistance 3 | 691.80 | 1.3617 | 75.85 | 110 17/32 |
| Resistance 2 | 686.50 | 1.3585 | 75.02 | 110 8/32 |
| Resistance 1 | 683.10 | 1.3525 | 74.17 | 109 29/32 |
| Pivot | 677.80 | 1.3493 | 73.34 | 109 20/32 |
| Support 1 | 674.40 | 1.3433 | 72.49 | 109 9/32 |
| Support 2 | 669.10 | 1.3401 | 71.66 | 109 |
| Support 3 | 665.70 | 1.3341 | 70.81 | 108 21/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, August 16, 2007
Economic
08:30AM Initial Jobless Claims (last 316K), July Housing Starts (last 1.47M), Building Permits (last 1.41M)
10:30AM Natural Gas Inventories
12:00AM August Philadelphia Fed (last 9.2)
Events
Blood Products Advisory Committee 8am. Trades Ex-dividend: AL $0.20, FAST $0.23, HON $0.25, TGT $0.14, WAG $0.095.
Earnings
Before the Open: AES BKS BIG DKS EFD EL FLO FTD GMTN HAR JCP LANC MGPI PACT POP SHMR BKE TWB WEW WCI WTSLA. After the Close: ARXX AFCE ACS ANEN ADSK CSC CPWM DIET RDEN FMCN GES GYMB HPQ HRAY KSS LTRE NINE JWN OHB PSUN PBY RRGB VIMC ZIGO.
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
* Important Please Note:
IMPORTANT PLEASE NOTE: TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS. THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS. THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
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