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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, December 06, 2007

Futures Trading levels and Economic reports for Dec. 7th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Big upday just in front of the monthly un-employment numbers. Not sure what to make of it, volume was avg. and it was pretty much a straight upday.
 
On the daily chart, 1510 to 1515 seems to be a significant resistance area, so it will be interesting to see what the market does around these levels and the reaction to tomorrows reports. Make it a good trading day!
 
LEVELS:
 
Contract (DEC. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1544.40 2171.67 13940 804.92
Resistance 2 1527.70 2152.33 13795 793.58
Resistance 1 1517.60 2139.67 13710 787.92
Pivot 1500.90 2120.33 13565 776.58
Support 1 1490.80 2107.67 13480 770.92
Support 2 1474.10 2088.33 13335 759.58
Support 3 1464.00 2075.67 13250 753.92
         
Contract  December Gold Dec. Euro Jan. Crude Oil Dec. Bonds 
Resistance 3 833.23 1.4813 97.08 117 26/32
Resistance 2 822.37 1.4735 93.91 117 16/32
Resistance 1 814.73 1.4684 92.17 117  2/32
Pivot 803.87 1.4606 89.00 116 24/32
Support 1 796.23 1.4555 87.26 116 10/32
Support 2 785.37 1.4477 84.09 116     
Support 3 777.73 1.4426 82.35 115 18/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Friday, December 07, 2007


Economic
8:30am Nov Change in Nonfarm payrolls (last 166K), Nov Unemployment rate (last 4.7%), Nov Change in manufacturing payrolls (last –21K), Nov Average Hourly earnings (last m/m 0.2%, y/y 3.8%), Nov Average Weekly Hours (last 33.8)
10:00am Dec University of Michigan Confidence (last 76.1)
3:00pm Oct Consumer Credit (last $3.7B)
Events
Lehman Brothers Annual Technology Conference, Trades Ex-dividend: GRNB $0.29
Earnings
Before the Open: HITK, KWD
 
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 1:12 PM

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