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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, January 15, 2008

Futures Trading levels and Economic reports for Jan 16th

 
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Dear Trader,
 
High volume day, mostly on the down side. We tested the cruicial 1385 level and bounced the first time but closed right above it.
 
A break below brings 1362 as the next major support with lots of "air" below it......
 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1424.43 1983.17 12885 716.33
Resistance 2 1416.07 1963.33 12805 711.42
Resistance 1 1402.23 1936.17 12685 706.33
Pivot 1393.87 1916.33 12605 701.42
Support 1 1380.03 1889.17 12485 696.33
Support 2 1371.67 1869.33 12405 691.42
Support 3 1357.83 1842.17 12285 686.33
         
Contract  Feb Gold March Euro Jan. Crude Oil March. Bonds 
Resistance 3 933.23 1.5002 62.45 120  9/32
Resistance 2 924.27 1.4959 61.25 119 29/32
Resistance 1 913.43 1.4879 60.60 119 23/32
Pivot 904.47 1.4836 60.00 119 11/32
Support 1 893.63 1.4756 59.20 119  5/32
Support 2 884.67 1.4713 58.60 118 25/32
Support 3 873.83 1.4633 57.90 118 19/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, January 16, 2008


Economic
8:30am Dec CPI (last m/m 0.8%, y/y 4.3%, ex food and energy m/m 0.3%, y/y 2.3%), CPI NSA (last 210.177)
9:00am Dec Industrial Production (last 0.3%), Dec Capacity Utilization (last 81.5%), Nov Net Long-Term TIC flows (last $114B), Nov Total Net TIC Flows (last $97.8B)
10:30am Crude Oil/Gasoline/Distillate Inventories
1:00pm NAHB Housing Market Index (last 19)
2:00pm Fed Beige Book
Events
MBA Mortgage Applications (7:00, last 32.2%). Trades Ex-dividend: GD $0.29, BCR $0.15, PKI $0.07, LOW $0.08.
Earnings
Before the Open: AMR, ASML, JPM, NITE, LCRY, NTRS, PGR, WFC. After the Close: CLC, GKK, LOGI, OO.
 
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 1:25 PM

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