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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, December 04, 2007

Futures Trading levels and Economic reports for Dec. 5th

 
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Dear Trader,
 
Very quiet trading session after the lower gap open. I expect higher volatility tomorrow.
 
LEVELS:
 
Contract (DEC. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1481.03 2097.33 13397 765.00
Resistance 2 1476.77 2086.67 13366 761.50
Resistance 1 1471.13 2073.33 13318 757.00
Pivot 1466.87 2062.67 13287 753.50
Support 1 1461.23 2049.33 13239 749.00
Support 2 1456.97 2038.67 13208 745.50
Support 3 1451.33 2025.33 13160 741.00
         
Contract  December Gold Dec. Euro Jan. Crude Oil Dec. Bonds 
Resistance 3 822.67 1.4945 92.42 119 14/32
Resistance 2 816.93 1.4858 91.20 119     
Resistance 1 812.27 1.4813 89.78 118 17/32
Pivot 806.53 1.4726 88.56 118  3/32
Support 1 801.87 1.4681 87.14 117 20/32
Support 2 796.13 1.4594 85.92 117  6/32
Support 3 791.47 1.4549 84.50 116 23/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, December 05, 2007


Economic
7:30am Nov Challenger Job Cuts y/y (last –8.8%)
8:15am Nov ADP employment change (last 106K)
8:30am Q3 Nonfarm productivity (last 4.9%), Q3 Unit Labor Costs (last -0.2%)
10:00am Oct Factory Orders (last 0.2%), Nov ISM Non Manufacturing (last 55.8)
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
11:45 US Treasury's Paulson speaks on US China Relations, OPEC meeting in Abu Dhabi, Same Stores Sales after the close, AIG Investor Meeting, FDA Oncologic drugs advisory committee (AVASTIN, DNA), FDA meeting on ozone depleting substances; removal of essential use designation (epinephrine), Lehman Brothers Annual Technology Conference, MBA Mortgage Applications (7:00, last –4.3%). Trades Ex-dividend: QCOM $0.14, AIG $0.20, BAC $0.64, PEP $0.375, S $0.025, EP $0.04
Earnings
Before the Open: BTH, DSW After the Close: CWST, CASY, CMTL, DDMX, GEF, NOVL
 
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 #515
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 12:58 PM

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