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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, September 25, 2007

Futures Trading levels and Economic reports for Sept. 26th

 
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Dear Trader,
 
Market gapped lower, held initial support and drifted higher for the rest of the day.
 
I am looking at 1525 as a significant level. If we break below it we have the next target at 1510. If we hold above 1525 and start moving higher, I think we are headed for new highs. Will be interesting.
 
LEVELS:
 
Contract (DEC. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1546.10 2138.67 14004 819.53
Resistance 2 1538.70 2119.83 13943 814.77
Resistance 1 1533.80 2108.67 13906 811.53
Pivot 1526.40 2089.83 13845 806.77
Support 1 1521.50 2078.67 13808 803.53
Support 2 1514.10 2059.83 13747 798.77
Support 3 1509.20 2048.67 13710 795.53
         
Contract  December Gold Dec. Euro Nov. Crude Oil Dec. Bonds 
Resistance 3 753.13 1.4291 82.11 111 24/32
Resistance 2 747.07 1.4233 81.36 111 17/32
Resistance 1 742.93 1.4196 80.45 111  6/32
Pivot 736.87 1.4138 79.70 110 31/32
Support 1 732.73 1.4101 78.79 110 20/32
Support 2 726.67 1.4043 78.04 110 13/32
Support 3 722.53 1.4006 77.13 110  2/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, September 26, 2007


Economic
8:30am Aug Durable Goods orders (last 5.9%), Aug Durables ex Transportation (last 3.7%)
10:30am Crude Oil/Gasoline/Distillate Inventories
1:00pm 2-year note auction
Events
8:30am Fed's Poole, Freddie Mac quarterly funding announcement, CIBC World Markets Eastern Institutional Investor Conference, Massachusetts Biotechnology Council 9th advanced forum on Biotech, MBA Mortgage Applications (7:00, last %). Trades Ex-dividend: ACE $0.27, AYR $0.65, BXP $0.68, CCU $0.188, DE $0.50, EIX $0.29, FITB $0.42, FRP $0.398, GNI $2.80, ITW $0.28, JTX $0.18, NUE $0.61, TDK $0.461, DOW $0.42, USB $0.40
Earnings
Before the Open: ATU After the Close: BBBY, INTV, PAYX, XRTX
 
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 1:26 PM

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