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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, January 02, 2008

Futures Trading levels and Economic reports for Jan 3rd 2008

 
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Dear Trader,

 

If the first trading day of 2008 is any indication for the rest of the year....then strap your seatbelts on as we may experience some turbulence....

 

Stock indices finished lower as economic reports suggested further slowdown of the economy.

1443-1446 is a major support for now; hence a break below may trigger additional selling.

 

I would like to wish all of you a great trading year in 2008 and a healthy, happy year in all aspects of life.

 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1507.00 2158.17 13602 788.08
Resistance 2 1493.60 2135.33 13473 779.67
Resistance 1 1476.00 2102.67 13307 769.08
Pivot 1462.60 2079.83 13178 760.67
Support 1 1445.00 2047.17 13012 750.08
Support 2 1431.60 2024.33 12883 741.67
Support 3 1414.00 1991.67 12717 731.08
         
Contract  Feb. Gold March Euro Jan. Crude Oil March Bonds 
Resistance 3 883.63 1.4884 104.42 120  8/32
Resistance 2 874.07 1.4822 102.11 119  4/32
Resistance 1 867.03 1.4778 100.66 118 16/32
Pivot 857.47 1.4716 98.35 117 12/32
Support 1 850.43 1.4672 96.90 116 24/32
Support 2 840.87 1.4610 94.59 115 20/32
Support 3 833.83 1.4566 93.14 115     
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, January 03, 2008


Economic
7:30am Dec Challenger Job Cuts
8:15am Dec ADP Employment Change (last 189K)
8:30am Dec Initial Jobless Claims (last 349K), Dec Continuing Claims (last 2.713M)
10:00am Dec Factory Orders (last 0.5%)
10:30am Crude Oil/Gasoline/Distillate Inventories
Events
Iowa Caucus, MBA Mortgage Applications (7:00, last –7.6%), Dec Total Vehicle Sales (last 16.2M), Dec Domestic Vehicle Sales (last 12.4M), Morgan Stanley Pharmaceutical CEOs Conference, Trades Ex-split: CMI 2-1 GHM 5-4. Trades Ex-dividend: BBD $0.009 BLX $0.22 BRN $0.05.
Earnings
Before the Open: SHLM CYCL MTRX MON MSM TXI UNF. After the Close: ANGO BBBY FINL GPN MERX SONC.
 
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 1:34 PM

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