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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, November 08, 2007

Futures Trading levels and Economic reports for Nov. 9th

 
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Dear Trader,
 
Volatile session today as the market went back to its trading range pre-fed cut of 50 basis points in Sept.
 
We are sitting right now between two major levels, 1454 on the low end and 1490 on the upper end.
 
Fast market conditions require strong dicipline when it comes to money management.
 
Good Trading!
 
LEVELS:
 
Contract (DEC. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1523.53 2262.00 13695 812.08
Resistance 2 1505.27 2221.00 13542 798.67
Resistance 1 1490.53 2163.00 13403 790.33
Pivot 1472.27 2122.00 13250 776.92
Support 1 1457.53 2064.00 13111 768.58
Support 2 1439.27 2023.00 12958 755.17
Support 3 1424.53 1965.00 12819 746.83
         
Contract  December Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 860.83 1.4805 99.95 115     
Resistance 2 854.17 1.4759 98.82 114 21/32
Resistance 1 845.83 1.4721 97.19 114 11/32
Pivot 839.17 1.4675 96.06 114     
Support 1 830.83 1.4637 94.43 113 22/32
Support 2 824.17 1.4591 93.30 113 11/32
Support 3 815.83 1.4553 91.67 113  1/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Friday, November 09, 2007


Economic
8:30am Sep Trade Balance (last -$57.6B), Oct Import Price Index (last m/m 1.0%, y/y 5.2%)
10:00am Nov University of Michigan Confidence (last 80.9)
Events
6:30pm US Treasury's Solomon speaks on US tax policy in Chicago, Trades Ex-split: ATU 2:1 Trades Ex-dividend: ED $0.058, CNW $0.10, MKV $0.469, OSM $0.093, X $0.20, XLNX $0.12
Earnings
Before the Open: AIXD, AYR, AEE, BRKS, CNTY, PLTE, CLWR, CHCI, DRS, ETM, GG, HUN, IART, JASO, SIZ, SUG, TTEC, TRGL, WCRX After the Close: LGF, PAAS, SMTL
 
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 1:19 PM

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