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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, October 16, 2007

Futures Trading levels and Economic reports for October 17th

 
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Dear Trader,
 
1539.50 is an important level to watch as this market corrects. If we can hold above it, we may see a resumption of the rally, if we break below there is more room for correction - offcourse this is just one man opinion and the market has a mind of its own....
 
LEVELS:
 
Contract (DEC. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1565.40 2213.33 14137 835.67
Resistance 2 1560.70 2199.67 14088 834.58
Resistance 1 1554.60 2188.33 14032 832.67
Pivot 1549.90 2174.67 13983 831.58
Support 1 1543.80 2163.33 13927 829.67
Support 2 1539.10 2149.67 13878 828.58
Support 3 1533.00 2138.33 13822 826.67
         
Contract  December Gold Dec. Euro Nov. Crude Oil Dec. Bonds 
Resistance 3 776.17 1.4317 90.34 111  4/32
Resistance 2 771.93 1.4281 89.24 111     
Resistance 1 766.97 1.4234 88.33 110 22/32
Pivot 762.73 1.4198 87.23 110 18/32
Support 1 757.77 1.4151 86.32 110  8/32
Support 2 753.53 1.4115 85.22 110  4/32
Support 3 748.57 1.4068 84.31 109 26/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, October 17, 2007


Economic
8:30am Sep Consumer Price Index (last –0.1% m/m, 2.0% y/y), Sep CPI ex Food and Energy (last 0.2% m/m, 2.1% y/y), Sep CPI Index NSA (last 207.917), Sep Housing Starts (last 1.33M), Sep Building permits (last 1.32M)
10:30am Crude Oil/Gasoline/Distillate Inventories
2:00pm Fed Beige Book
Events
5:30pm Fed's Dudley Speaks on Central Banking at Philadelphia Fed, 8:45pm Fed's Hoenig speaks on Economy at Business Forum in Oklahoma, Euromoney Institutional Investor Regional Finance & Investment conference, MBA Mortgage Applications (7:00, last 2.4%). Trades Ex-split: CTSH 2-1 Trades Ex-dividend: HRL $0.15, LOW $0.08, MA $0.15, PSD $0.25, HIX $0.08
Earnings
Before the Open: ABT, MO, APH, ASML, BLK, CIT, KO, CMA, DSL, FCFS, GCI, ITW, JEF, JPM, LUFK, MAN, MI, MTG, NCI, NTRS, PJC, RLI, UTX During Trading Hours: AMR After the Close: ADS, ALL, ATR, ARNA, CTXS, CBST, DTLK, ETFC, EBAY, GKK, HWAY, ILMN, RX, ISIL, KNL, LRW, LEG, LOGI, MOGN, MGI, NE, NVEC, PKG, PLCM, SOV, SPTN, SYK, TER, UFPI, VLY, WM, WDFC
 
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 1:23 PM

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