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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, September 17, 2007

Futures Trading levels and Economic reports for Sept. 18th

 
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Dear Trader,
 
Busy day ahead tomorrow (Tuesday Sept. 18th ) as we have a couple of important reports followed by FOMC (when the Fed announces interest rates policy).
 
Expect high volatility and if you are new to futures, you may want to observe or trade very carefully/ lightly.
 
LEVELS:
 
Contract (DEC. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1506.23 2043.33 13647 794.17
Resistance 2 1500.87 2032.67 13603 791.08
Resistance 1 1495.93 2020.83 13556 786.17
Pivot 1490.57 2010.17 13512 783.08
Support 1 1485.63 1998.33 13465 778.17
Support 2 1480.27 1987.67 13421 775.08
Support 3 1475.33 1975.83 13374 770.17
         
Contract  December Gold Dec. Euro Oct. Crude Oil Dec. Bonds 
Resistance 3 736.63 1.3960 83.82 113 12/32
Resistance 2 732.47 1.3940 82.24 113  4/32
Resistance 1 728.13 1.3920 81.40 113     
Pivot 723.97 1.3900 79.82 112 24/32
Support 1 719.63 1.3880 78.98 112 20/32
Support 2 715.47 1.3860 77.40 112 12/32
Support 3 711.13 1.3840 76.56 112  8/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Tuesday, September 18, 2007


Economic
8:30am Aug PPI (m/m last 0.6%, y/y last 4.0%), Aug PPI Ex Food and Energy (m/m last 0.1%, y/y last 2.3%)
9:00am Jul Net Long Term TIC Flows (last $120.9B), Jul Total Net TIC Flows (last $58.8B)
1:00pm Sep NAHB Housing Index (last 22)
2:15pm FOMC Rate Decision (prior 5.25%)
Events
9:00am Fed's Open Market committee meets on interest rates, economy, Apple UK press event, Euromoney Total Derivatives Fixed Income Forum, A.G Edwards Emerging Growth Conference, Piper Jaffray Financial Services Private Equity Conference, ICSC/UBSW Chain Store Sales (7:45, last 0.3%). Redbook Retail Sales (8:55, last 2.8%), ABC Consumer Confidence (last -17 ). Trades Ex-split: LABL 3-2 Trades Ex-dividend: GKSR $0.05, HOMF $0.2, IIG $0.11, SNV $0.205, TIF $0.15, TSYS $0.07, OMC $0.15
Earnings
Before the Open: AHII, AZO, BKRS, BBY, CBRL, KR, LEH . After the Close: DRI
 
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.
 

posted by Cannon Trading at 1:14 PM

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