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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, December 12, 2007

Futures Trading levels and Economic reports for Dec. 13th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 

Wild session! More volatile than yesterdays. Main reason for volatility in my opinion was the market digesting the pre market news that the fed along with few other major central banks will "provide liquidity to the markets". That resulted in a 30 point gap opening higher and a wild ride through the rest of the day.

 

Tomorrow is roll over day and you need to start trading the March 2008 contract. More at:

 
 
LEVELS:
 
Contract (DEC. 2007)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1558.83 2198.33 14093 813.42
Resistance 2 1536.67 2165.67 13908 801.83
Resistance 1 1512.83 2136.33 13701 786.67
Pivot 1490.67 2103.67 13516 775.08
Support 1 1466.83 2074.33 13309 759.92
Support 2 1444.67 2041.67 13124 748.33
Support 3 1420.83 2012.33 12917 733.17
         
Contract  December Gold Dec. Euro Jan. Crude Oil Dec. Bonds 
Resistance 3 830.10 1.4854 101.57 117 12/32
Resistance 2 826.20 1.4803 98.21 116 19/32
Resistance 1 822.50 1.4754 95.98 116  4/32
Pivot 818.60 1.4703 92.62 115 11/32
Support 1 814.90 1.4654 90.39 114 28/32
Support 2 811.00 1.4603 87.03 114  3/32
Support 3 807.30 1.4554 84.80 113 20/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, December 13, 2007


Economic
8:30am Initial Jobless Claims (last 338K), Continuing Claims (last 2.599M), Nov PPI (last m/m 0.1%, y/y 6.1%, ex food and energy m/m 0.0%, y/y 2.5%), Nov Advance Retail Sales (last 0.2%), Nov retail sales less autos (last 0.2%), Oct Business Inventories (last 0.4%)
10:30am Natural Gas Inventories
1:00pm Treasury's 10 year note auction results
Events
8:00am Honeywell outlook at analyst day, Scotts Miracle Grow update, Safeway Investor Conference, Zymogenetics analyst meeting
Earnings
Before the Open: AHCI, CHINA, CIEN, COST, HSOA, JOSB, LEH, MESA, SMA, TTEC, ZOLT During Trading Hours: ASFI, PNY After the Close: CAO, LEAP, ZQK, RSTO, RVI, UNCA, PAY
 
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 1:15 PM

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