Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Monthly unemployment figures due out tomorrow before the cash open and should provide for a more interesting session than we witnessed today. (market barley moved most of the day but made a 5 point run on the SP500 after the cash close at 15:00 central.....)
MUCH more volume expected next week as many traders still out due to holidays.
LEVELS:
| Contract (March 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1474.30 | 2112.67 | 13314 | 770.00 |
| Resistance 2 | 1469.50 | 2097.33 | 13254 | 766.00 |
| Resistance 1 | 1460.80 | 2086.67 | 13199 | 759.50 |
| Pivot | 1456.00 | 2071.33 | 13139 | 755.50 |
| Support 1 | 1447.30 | 2060.67 | 13084 | 749.00 |
| Support 2 | 1442.50 | 2045.33 | 13024 | 745.00 |
| Support 3 | 1433.80 | 2034.67 | 12969 | 738.50 |
| | | | | |
| Contract | Feb. Gold | March Euro | Jan. Crude Oil | March Bonds |
| Resistance 3 | 889.40 | 1.4893 | 101.65 | 118 26/32 |
| Resistance 2 | 880.70 | 1.4840 | 100.87 | 118 13/32 |
| Resistance 1 | 874.90 | 1.4798 | 100.01 | 118 2/32 |
| Pivot | 866.20 | 1.4745 | 99.23 | 117 21/32 |
| Support 1 | 860.40 | 1.4703 | 98.37 | 117 10/32 |
| Support 2 | 851.70 | 1.4650 | 97.59 | 116 29/32 |
| Support 3 | 845.90 | 1.4608 | 96.73 | 116 18/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Friday, January 04, 2008
Economic
8:30am Dec Nonfarm Payrolls (last 94K), Dec Unemployment (last 4.7%), Dec Manufacturing Payrolls (last –11K), Dec Average Hourly Earnings (last m/m 0.5%, y/y 3.8%), Dec Average Weekly Hours (last 33.8)
10:00am ISM Non-Manufacturing (last 54.1)
10:30am Natural Gas Inventories
12:00pm Fed Term Auction Facility (TAF) Announcement
Events
11:15am Fed's Kohn Speaks on Macroeconomic Policy in New Orleans, 3:30pm Fed's Madigan Speaks to Economists in New Orleans, Trades Ex-split: None. Trades Ex-dividend: WDFC $0.25 CAFI $0.15 GLT $0.09 HRZB $0.135.
Earnings
Before the Open: AZZ XRX. After the Close: None.
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.
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