Futures Trading levels and Economic reports for Nov. 8th
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Below you will see the daily chart for the SP500 futures. Notice that strong support level at 1487 was broken (1487 is the 50% retracement from the low made in August and the high made in October). The fact that we closed below it shifts the stance to a bearish one in my eyes....but than again who knows with this crazy market....
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!
LEVELS:
| Contract (DEC. 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1554.87 | 2266.67 | 13803 | 811.50 |
| Resistance 2 | 1534.83 | 2248.33 | 13698 | 803.75 |
| Resistance 1 | 1519.07 | 2214.67 | 13526 | 792.00 |
| Pivot | 1499.03 | 2196.33 | 13421 | 784.25 |
| Support 1 | 1483.27 | 2162.67 | 13249 | 772.50 |
| Support 2 | 1463.23 | 2144.33 | 13144 | 764.75 |
| Support 3 | 1447.47 | 2110.67 | 12972 | 753.00 |
| Contract | December Gold | Dec. Euro | Dec. Crude Oil | Dec. Bonds |
| Resistance 3 | 853.50 | 1.4913 | 102.12 | 114 21/32 |
| Resistance 2 | 848.50 | 1.4826 | 100.37 | 114 12/32 |
| Resistance 1 | 841.00 | 1.4737 | 98.12 | 114 1/32 |
| Pivot | 836.00 | 1.4650 | 96.37 | 113 24/32 |
| Support 1 | 828.50 | 1.4561 | 94.12 | 113 13/32 |
| Support 2 | 823.50 | 1.4474 | 92.37 | 113 4/32 |
| Support 3 | 816.00 | 1.4385 | 90.12 | 112 25/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, November 08, 2007
Economic
7:00am Bank of England Interest Rate Decision
7:45am European Central Bank Interest Rate Decision
8:30am Initial Jobless Claims (last 325K), Continuing Claims (2.58M)
10:30am Natural Gas Inventories
1:00pm 30-year bond auction
Events
10:00am Fed's Bernanke testifies before joint economic committee, 10:45am US Treasury's Nason speaks on markets, regulations in Florida, 12:50pm US Treasury's Solomon speaks on taxes, economy in Austin, TX, Trades Ex-dividend: CFC $0.15, IR $ 0.18, WYE $0.28, WYN $0.04
Earnings
Before the Open: KDS, ABBI, ARXT, ACM, AET, AES, AIRM, ARCC,BRL, BZH, BCRX, BLTI, BVF, CVC, CALP, CRZO, GTLS, CHTR, CCU, CCO, CNSL, XTEX, XTXI, CRYP, CYPB, DF, DK, DTPI, DSW, DYN, ENER, FVE, FLO, GM, GTOP, GEO, GIGM, GPX, GBE, HEES, HANS, HTV, HL, HDIX, HSP, KOP, LAMR, LEE, LXP, LINC, MMC, MEMY, PCS, MGPI, MDH, MNTG, MWIV, NSSC, NNN, NRP, NOOF, NGPC, NRF, NWN, PRFT, PLMD, PBH, PWR, RCNI, RRI, ROK, RCKY, RSTI, SGK, SGR, SKYW, BID, SPC, STN, STXS, STRL, SMA, ELOS, SYNM, TOPT, THS, RMIX, USPH, UIC, URBN, VNDA, VIAC, VG, VYYO, WRNC, WW, WCI, WLSC, WIN During Trading Hours: LNY, PARL After the Close: JOBS, NDN, MDRX, AMIS, ARBX, AZPN, AGO, ATPG, ABTL, BAS, BOL, BORL, BDY, CELL, CPKI, CEPH, CHIC, LNG, CQB, COGO, CXW, COSI, DWRI, DEIX, DESC, DLB, DHOM, HILL, DTE, DTSI, DIET, BAGL, EZPW, FNET, GCOM, GMKT, GES, HTCH, IMAX, IFON, INPC, INTX, DMX, JJSF, JSDA, JUPM, KFN, LDK, LEV, MCHX, ME, MRX, MIDD, MIPS, MIVA, NABI, NFG, UEPS, NFI, NGPS, NTN, NVDA, PSUN, PLLL, PDLI, PCR, PCLN, PRSC, PSA, QCOM, RRGB, SONE, SAPE, SCI, SNDA, SINA, SONS, TELK, KNOT, TIE, TRMS, VTR, DIS, INT
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.
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 1:31 PM
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