Cannon Trading Co. Inc.
We believe. The next frontier in futures trading.
Since 1988

Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, October 30, 2007

Futures Trading levels and Economic reports for Oct. 31st

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 

Tomorrow is the last trading day of the month. More important we have FOMC at 2:15 PM eastern time. Not enough? we have a slew of economic reports before hand along with crude oil inventories (crude oil has made an all time high yesterday above $93 and fell more than $3 today on profit taking).....in short expect a busy, high volume and volatile day.

 

Personally I like to be flat 15 minutes before FOMC decision and wait for about 15 minutes after the announcement to allow the market to absorb and analyze the information before considering any trades.

 

Good Trading!

 
LEVELS:
 
Contract (DEC. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1551.00 2261.67 13945 827.83
Resistance 2 1547.50 2247.33 13915 825.67
Resistance 1 1542.00 2234.67 13870 821.33
Pivot 1538.50 2220.33 13840 819.17
Support 1 1533.00 2207.67 13795 814.83
Support 2 1529.50 2193.33 13765 812.67
Support 3 1524.00 2180.67 13720 808.33
         
Contract  December Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 796.27 1.4538 96.37 114 15/32
Resistance 2 792.33 1.4495 95.03 114  4/32
Resistance 1 790.07 1.4471 92.45 113 28/32
Pivot 786.13 1.4428 91.11 113 17/32
Support 1 783.87 1.4404 88.53 113  9/32
Support 2 779.93 1.4361 87.19 112 30/32
Support 3 777.67 1.4337 84.61 112 22/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, October 31, 2007


Economic
8:15am Oct ADP Employment change (last 58K)
8:30am 3Q GDP Annualized (last 3.8%), 3Q Personal Consumption (last 1.4%), 3Q GDP Price Index (last 2.6%), 3Q Core PCE q/q (last 1.4%), 3Q Employment Cost Index (last 0.9%)
9:45am Oct Chicago Purchasing Manager (last 54.2)
10:00am Sep Construction Spending (last 0.2% m/m), Oct NAPM Milwaukee (last 70.0)
10:30am Crude Oil/Gasoline/Distillate Inventories
2:15pm FOMC Interest Rate Decision
Events
9:00am FOMC meets on Interest Rates, Economy, Charles Schwab Impact 2007 Conference, MBA Mortgage Applications (7:00, last 0.0%). Trades Ex-dividend: SGP $0.65, CAG $0.19, MER $0.35, AA $0.17, NSC $0.26, ROH $0.37
Earnings
Before the Open: ALU, ALVR, AVA, BPO, CCJ, CRS, CKSW, CLX, DB, DHX, DSPG, EXAR, FCL, GRMN, HURN, IDA, ILOG, IDCC, IFF, JLL, KFT, MAC, MAG, MA, NVO, OCR, PMTC, PNX, RHB, RELV, COL, SNY, SBGI, SPW, SSYS, TGA, RIG, VICL, VRTU, WSII, WY, WYN, During Market Hours: ABBC, ABY, DOX, AHC, AVAN, FRT, FMS, FBN, GABC, IACI, IMA, KNDL, LFUS, MTW, MKTX, NVT, NCR, NEM, NBL, PKOH, PVA, PVR, PPL, QUOT, O, ROC, RTI, RUS, MF, SGTL, SMTB, TFX, VC After the Close: AAP, AW, AEL, AHT, AVB, ABX, BDN, BW, LRF, CBT, CAI, CDIS, DVR, CWT, CIR, CNO, DW, DRE, ENH, ERIE, ESS, FMC, DAVE, BGC, GNC, MA, GGP, GIVN, GSF, GPK, MANT, MET, OIIM, OTL, OKE, PDFS, PGTI, PLXS, PRU, KWR, REG, SHS, SLW, SWN, STNR, SUN, TK, UNM, WCAA
 
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 1:04 PM

0 Comments:

Post a Comment

<< Home