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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, January 07, 2008

Futures Trading levels and Economic reports for Jan 8th

 
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Dear Trader,
 
Volatile day (again...) with a nice rally at the close off the 1410 support level.
 
Market is moving quite fast the last few sessions, so having stops in your software is more important than normal.
 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1452.73 2045.17 13094 752.87
Resistance 2 1441.97 2019.08 13013 743.93
Resistance 1 1431.73 1997.17 12946 735.37
Pivot 1420.97 1971.08 12865 726.43
Support 1 1410.73 1949.17 12798 717.87
Support 2 1399.97 1923.08 12717 708.93
Support 3 1389.73 1901.17 12650 700.37
         
Contract  Feb. Gold March Euro Jan. Crude Oil March Bonds 
Resistance 3 876.17 1.4847 101.73 119 16/32
Resistance 2 871.93 1.4804 100.07 118 30/32
Resistance 1 866.97 1.4746 97.80 118 22/32
Pivot 862.73 1.4703 96.14 118  4/32
Support 1 857.77 1.4645 93.87 117 28/32
Support 2 853.53 1.4602 92.21 117 10/32
Support 3 848.57 1.4544 89.94 117  2/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Tuesday, January 08, 2008


Economic
10:00am Nov Pending Home Sales (last 0.6%), Jan TIPP Economic Optimism Index (last 44.4)
3:00pm Nov Consumer Credit (last $4.7B)
Events
8:20am Fed's Plosser speaks on economic outlook in PA, 10:50am Fed's Rosengren speaks at economic conference in CT, 10th Annual Needham Growth Conference Jan 8-11, Redbook Retail Sales (8:55, last +1.6%). ABC Consumer Confidence (last -20). Trades Ex-split: FNDS 2-1. Trades Ex-dividend: JCP $0.20 PGN $0.615 T $0.40 VZ $0.43.
Earnings
Before the Open: AYI, CYCL, STZ, CMOS, FDO, GAP, GBX, KBH, NUHC, RPM, SVU. After the Close: APOL, EXFO, INTV, OXM, XRTX.
 
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 1:27 PM

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