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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, November 14, 2007

Futures Trading levels and Economic reports for Nov. 15th

 
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Dear Trader,
 
Quiet day for the most part until the last 25 minutes where we witnessed a sell off followed by a quick bounce. Market is still not able to close above 1486 (although it made a high of 1496.75 during the night time). We are still at a junction trying to decide if this rally is a strong short covering or more significant.
 
LEVELS:
 
Contract (Dec 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1517.13 2148.00 13558 809.43
Resistance 2 1506.67 2123.50 13487 802.97
Resistance 1 1491.43 2086.00 13373 793.93
Pivot 1480.97 2061.50 13302 787.47
Support 1 1465.73 2024.00 13188 778.43
Support 2 1455.27 1999.50 13117 771.97
Support 3 1440.03 1962.00 13003 762.93
         
Contract  Dec Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 824.40 1.4833 62.45 115  8/32
Resistance 2 820.90 1.4783 61.25 114 28/32
Resistance 1 817.80 1.4719 60.60 114 20/32
Pivot 814.30 1.4669 60.00 114  8/32
Support 1 811.20 1.4605 59.20 114     
Support 2 807.70 1.4555 58.60 113 20/32
Support 3 804.60 1.4491 57.90 113 12/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, November 15, 2007


Economic
8:30am Oct CPI (last 0.3% m/m, 2.8% y/y), Oct CPI ex Food and Energy (last 0.2% m/m, 2.1% y/y), Oct Core CPI Index SA (last 211.174), Oct CPI NSA (last 208.49), Nov Empire Manufacturing (last 28.8), Initial Jobless Claims (last 317K), Continuing Claims (last 2.579M)
10:30am Crude Oil/Gasoline/Distillate Inventories, Natural Gas Inventories
12:00pm Nov Philadelphia Fed (last 6.8)
Events
9:45am Fed's Evans gives welcoming remarks at Chicago Conference, 7:30pm Fed's Hoenig speaks on economic outlook in New Mexico, Treasury Refunding Statement, Credit Suisse Investor Summit, UBS Global Technology and Services Conference, Trades Ex-dividend: R $0.21, PCAR $0.18, SNA $0.30, DLX $ 0.25, IKN $0.04, SRP $0.08, MTW added to the S&P 500 after the close, WXS added to the S&P 600 after the close.
Earnings
Before the Open: BIG, CTR, CHINA, CPA, DKS, DHT, FCSX, GMTN, GSOL, GMCR, GBE, HP, HB, JCP, KIRK, KLIC, MMS, NWY, NJR, PTRY, SHLD, SHMR, SCVL, SOLF, SSI, SMRT, SPH, STP, BKE, TDG, TWB, TYC, VSE, WTSLA, ZOLL After the Close: A, ADSK, STV, CHRD, DDS, DITC, DHOM, EXLS, FL, FORM, HMIN, DISK, PODD, INTU, SJM, KSS, MSCC, MTSC, CRM, SINA, SBUX, SNS, TOA, NCTY, UNCA, VRGY, VIMC, WEDC .
 
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 1:15 PM

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