Cannon Trading Futures Blog: Daily Support and Resistance Levels
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
April was a strong month for equities (SP 500 was up almost 60 points/ approx. 4% !) but ended with one of the stronger corrections of late.
I think May could be a volatile month with action on both sides. As volatility increase, it is extremely important to review your money management rules and practices.
Hope everyone will enjoy a great trading month in May!
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1513.87 | 1921.67 | 13272 | 847.17 |
| Resistance 2 | 1508.63 | 1912.83 | 13236 | 840.83 |
| Resistance 1 | 1498.67 | 1895.67 | 13174 | 829.17 |
| Pivot | 1493.43 | 1886.83 | 13138 | 822.83 |
| Support 1 | 1483.47 | 1869.67 | 13076 | 811.17 |
| Support 2 | 1478.23 | 1860.83 | 13040 | 804.83 |
| Support 3 | 1468.27 | 1843.67 | 12978 | 793.17 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 689.33 | 1.3804 | 67.34 | 112 22/32 |
| Resistance 2 | 686.77 | 1.3754 | 66.97 | 112 7/32 |
| Resistance 1 | 685.13 | 1.3714 | 66.34 | 112 |
| Pivot | 682.57 | 1.3664 | 65.97 | 111 17/32 |
| Support 1 | 680.93 | 1.3624 | 65.34 | 111 10/32 |
| Support 2 | 678.37 | 1.3574 | 64.97 | 110 27/32 |
| Support 3 | 676.73 | 1.3534 | 64.34 | 110 20/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Tuesday, May 01, 2007
Economic
10:00am 00am Apr ISM Manufacturing (last 50.9), ISM Prices Paid (last 65.5), Mar Pending Home Sales (last 0.7%)
Events
ICSC/UBSW Chain Store Sales (7:45, last –2.0%). Redbook Retail Sales (8:55, last 0.0%). Pulmonary-Allergy Drugs Advisory committee meets at 8:00am. CMCSA, HEB, TDSC analyst meetings. Lehman Retail conference in NYC through 5/2. Fed's Bernanke speaks on Free Trade in Montana at 11:00am. Total Vehicle Sales (last 16.5M); Domestic Vehicle Sales (last 12.3M). ABC Consumer Confidence (last -7).
Earnings
Before the Open: ASF ALXN AMED APC AHG ARJ ADM ARM ADP AUXL AVP BNT BBW CE CEN COCO CRY RRD EFJI EMR EOG FORR RAIL FDP FCN GWR GEO HC HW HEP HOLX HBG HUN ITWO ICON IPSU IVC LANC LEXG LIZ MAG MRO MAS MHS MYGN NNDS NURO NMX PEI PER PPC PG PLD Q RCL SAF SGK SMG SINT SRP SIRI SAH JOE SHO TECH TUES UA UTHR VRX VNDA VIAC VNO WEC WYN. After the Close: ACS ALGT AW ACAS AMKR ANSR AMCC ATML AVR AXS BDN BEXP BWLD CEC CEPH CMG CQB COGT DENN DIVX DLLR DWA EXP EDR EQY EQR FOXH BGC GMR GPRO GYI HRS HSTX HLF HIW MOVE SOLD IVGN JLL KCP KFRC KRON LNC LPSN MANT MENT MET MOH NVT NCIT NWRE NVTL OII OIS MALL PLT PWER RNR RUTH SNTS SOHU SPSS STAA TE THRM UPL UNTD VOCS WPI WTS WBMD YUM.
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
Cannon Trading Co Inc.
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannoncapital.com
Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #614
Beverly Hills, Ca 90210
The finest compliment I can receive is a referral from a trusted client.
* Important Please Note:
Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this letter is of opinion only and does not ensure any profits.
These are risky markets and only risk capital should be used.
Past performances are not necessarily indicative of future results.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1513.97 | 1922.33 | 13278 | 840.67 |
| Resistance 2 | 1508.83 | 1914.67 | 13234 | 838.08 |
| Resistance 1 | 1504.77 | 1909.33 | 13199 | 835.42 |
| Pivot | 1499.63 | 1901.67 | 13155 | 832.83 |
| Support 1 | 1495.57 | 1896.33 | 13120 | 830.17 |
| Support 2 | 1490.43 | 1888.67 | 13076 | 827.58 |
| Support 3 | 1486.37 | 1883.33 | 13041 | 824.92 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 687.47 | 1.3834 | 69.14 | 111 26/32 |
| Resistance 2 | 684.73 | 1.3774 | 67.92 | 111 19/32 |
| Resistance 1 | 683.27 | 1.3726 | 67.19 | 111 8/32 |
| Pivot | 680.53 | 1.3666 | 65.97 | 111 1/32 |
| Support 1 | 679.07 | 1.3618 | 65.24 | 110 22/32 |
| Support 2 | 676.33 | 1.3558 | 64.02 | 110 15/32 |
| Support 3 | 674.87 | 1.3510 | 63.29 | 110 4/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Monday, April 30, 2007
Economic
08:30am 30am Mar Personal Income (last 0.6%), Personal Spending (last 0.6%), PCE Deflator Y/Y (last 2.3%), PCE Core (last 0.3%) 09:45am Apr Chicago Purchasing Manager (last 61.7) 10:00am Mar Construction Spending (last 0.3%)
Events
Germany's Merkel in DC.
Earnings
Before the Open: ACW ALDN ACV ALEX AHM BEAV BWP CRNT CNA DVA FPL FTD HHS HNT HERO HLT HUM K KLIC LMS LTR MMP NTI NCC NOVN JNC PTEC PBI PMI RSH RBC ROC SYY TDG TSN VZ VSH WWY ZBRA. After the Close: ALO AFG AMMD ACF AMCS AHS ATHR AUDC BRAM BRKR COG CTX CHE CHRD CVD CVA CTS XRAY FEIC FRK FMC GGP GNW GMRK HCP HPC INTX IVAC KND XPRT MBE NARA EGOV ODSY PAAS PPS PFG RCII RIMG SONO SFN SMSC SWN SVR TFX TXRH TZIX UDR VRTX VMC WMGI.
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
Cannon Trading Co Inc.
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannoncapital.com
Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #614
Beverly Hills, Ca 90210
The finest compliment I can receive is a referral from a trusted client.
* Important Please Note:
Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this letter is of opinion only and does not ensure any profits.
These are risky markets and only risk capital should be used.
Past performances are not necessarily indicative of future results.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Tight range after yesterdays rally suggessts we are consolidating and ready for either the next wave up or a corection, which comes first is the hard question...
hope everyone will have a good trading day .
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1512.63 | 1917.67 | 13254 | 850.67 |
| Resistance 2 | 1508.57 | 1913.83 | 13215 | 845.08 |
| Resistance 1 | 1505.53 | 1903.67 | 13192 | 841.67 |
| Pivot | 1501.47 | 1899.83 | 13153 | 836.08 |
| Support 1 | 1498.43 | 1889.67 | 13130 | 832.67 |
| Support 2 | 1494.37 | 1885.83 | 13091 | 827.08 |
| Support 3 | 1491.33 | 1875.67 | 13068 | 823.67 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 693.00 | 1.3740 | 67.51 | 111 27/32 |
| Resistance 2 | 688.60 | 1.3710 | 66.95 | 111 21/32 |
| Resistance 1 | 683.30 | 1.3670 | 66.01 | 111 11/32 |
| Pivot | 678.90 | 1.3640 | 65.45 | 111 5/32 |
| Support 1 | 673.60 | 1.3600 | 64.51 | 110 27/32 |
| Support 2 | 669.20 | 1.3570 | 63.95 | 110 21/32 |
| Support 3 | 663.90 | 1.3530 | 63.01 | 110 11/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Friday, April 27, 2007
Economic
08:30am 30am Q1 Advance GDP Annualized (last 2.5%), Personal Consumption (last 4.2%), GDP Price Index (last 1.7%), Employment Cost Index (last 0.8%) 10:00am April Final U. of Michigan Confidence (last 85.3)
Events
Blood Products Advisory Committee meets at 8:00am.
Earnings
Before the Open: AT AXL BPO BKC CAM CRS CLS CRDN CVX CVGI CVH CTCM CMI FLIR GEHL GT IDXX IR ITT KSE LNCE LZ MATR NOV NNI GAS ZEUS SPG SSCC TOMO VMSI WMI WHQ. After the Close: CCJ CHRT GHCI.
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
Cannon Trading Co Inc.
http://www.cannontrading.com
http://www.E-Futures.com
ilan@cannoncapital.com
Yahoo IM ilanlevy1970
310-859-9572
800-454-9572
Fax 310-859-0547
9301 Wilshire Blvd. Suite #614
Beverly Hills, Ca 90210
The finest compliment I can receive is a referral from a trusted client.
* Important Please Note:
Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this letter is of opinion only and does not ensure any profits.
These are risky markets and only risk capital should be used.
Past performances are not necessarily indicative of future results.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Next target for the SP500 is at 1508 and 1512. The higher we advance, the higher volatility will go as 3% move when you trade at 1500's is much larger than a 3% move when you trade at 1200's.
LEVELS:
| Contract (JUNE 2007) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1521.40 | 1930.67 | 13328 | 848.42 |
| Resistance 2 | 1512.30 | 1913.83 | 13241 | 843.83 |
| Resistance 1 | 1506.40 | 1904.17 | 13180 | 839.17 |
| Pivot | 1497.30 | 1887.33 | 13093 | 834.58 |
| Support 1 | 1491.40 | 1877.67 | 13032 | 829.92 |
| Support 2 | 1482.30 | 1860.83 | 12945 | 825.33 |
| Support 3 | 1476.40 | 1851.17 | 12884 | 820.67 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 693.33 | 1.3736 | 67.53 | 112 4/32 |
| Resistance 2 | 691.67 | 1.3716 | 66.71 | 111 31/32 |
| Resistance 1 | 689.53 | 1.3691 | 66.28 | 111 23/32 |
| Pivot | 687.87 | 1.3671 | 65.46 | 111 18/32 |
| Support 1 | 685.73 | 1.3646 | 65.03 | 111 10/32 |
| Support 2 | 684.07 | 1.3626 | 64.21 | 111 5/32 |
| Support 3 | 681.93 | 1.3601 | 63.78 | 110 29/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, April 26, 2007
Economic
08:30am 30am Initial Jobless Claims (last 339K) 10:00am Mar Help Wanted Index (last 31) 10:30am Natural Gas Inventories 01:00pm Treasury's 5-year Note auction results
Events
Blood Products Advisory Committee meets at 2:00pm. HK analyst meeting. Fed's Mishkin speaks on Globalization at IMF in DC at 12:30pm. Fed's Fisher speaks on Economy in Austin at 3:15pm. Fed's Yellen speak on Econo
