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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, January 16, 2008

Futures Trading levels and Economic reports for Jan 17th

 
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Dear Trader,
 
30 point range on the SP500 with wild intraday swings. We closed below the 1385 which is bearish in my eyes.
Big volume as well, more than 3 million contracts on the mini SP.
 
LEVELS:
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1421.17 1973.67 12878 730.03
Resistance 2 1409.23 1946.33 12762 720.77
Resistance 1 1392.67 1913.67 12653 710.78
Pivot 1380.73 1886.33 12537 701.52
Support 1 1364.17 1853.67 12428 691.53
Support 2 1352.23 1826.33 12312 682.27
Support 3 1335.67 1793.67 12203 672.28
         
Contract  Feb Gold March Euro Jan. Crude Oil March. Bonds 
Resistance 3 918.33 1.5072 62.45 120 17/32
Resistance 2 908.27 1.4963 61.25 120  7/32
Resistance 1 895.13 1.4806 60.60 119 23/32
Pivot 885.07 1.4697 60.00 119 13/32
Support 1 871.93 1.4540 59.20 118 29/32
Support 2 861.87 1.4431 58.60 118 19/32
Support 3 848.73 1.4274 57.90 118  3/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, January 17, 2008


Economic
8:30am Dec Housing Starts (last 1.187M), Dec Building Permits (last 1.16M), Initial Jobless Claims (last 322K), Continuing Jobless Claims (2.702M)
10:00am Fed's Bernanke testifies on economic outlook, Jan Philadelphia Fed (last –5.7)
10:30am Natural Gas Inventories
11:00am US Treasury 20-year TIPS announcement
Events
8:15am Fed's Pianalto speaks on US economic outlook in Cleveland, 12:30 Fed's Fisher speaks in Philadelphia on global trade, 1:15pm Fed's Lockhart speaks on US economic outlook in Cleveland, 12:00pm US Treasury dealer meeting agenda, Trades Ex-dividend: CAT $0.36 APA $0.15 OEH $0.025 GGG $0.185 PCBC $0.22.
Earnings
Before the Open: APH, BK, BBT, BLK, BGG, SCHW, CHZ, CIT, CMA, CBH, CAL, DSL, FHN, HBAN, IIIN, IGT, JCI, MMR, MER, NVS, JNC, PH, PNC, PPG, AMTD, USAP. After the Close: CREL, FNB, IBM, INVX, KMP, NVEC, PNFP, RMBS, STX, TRMK, PAY, WM, WIT, XLNX.
 
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 1:28 PM

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