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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, January 22, 2008

Futures Trading levels and Economic reports for Jan 22nd

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
80 points range on the SP500. Fed lowered rates by 75 basis points. This is extreme volatilty.
 
I would like to remind you that you must be fully margined before the close as overnight moves are extreme.
 
In times like this being extra selective in your trade selection is a sign of wise money management and I highly recommend having your stop loss as well as target/game plan before you enter any positions. This is not a time to enter a trade and then figure out what to do.....
 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1398.67 1919.00 12635 726.33
Resistance 2 1361.83 1874.00 12360 705.17
Resistance 1 1335.67 1837.00 12160 687.33
Pivot 1298.83 1792.00 11885 666.17
Support 1 1272.67 1755.00 11685 648.33
Support 2 1235.83 1710.00 11410 627.17
Support 3 1209.67 1673.00 11210 609.33
         
Contract  Feb. Gold March Euro Jan. Crude Oil March Bonds 
Resistance 3 934.03 1.4995 96.07 122 17/32
Resistance 2 914.77 1.4817 93.21 121 22/32
Resistance 1 902.53 1.4711 91.15 121  8/32
Pivot 883.27 1.4533 88.29 120 13/32
Support 1 871.03 1.4427 86.23 119 31/32
Support 2 851.77 1.4249 83.37 119  4/32
Support 3 839.53 1.4143 81.31 118 22/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Tuesday, January 22, 2008


Economic
10:00 Jan Richmond Fed Manufacturing Index (last –4)
Events
ICSC/UBSW Chain Store Sales (7:45, last –0.9%). Redbook Retail Sales (8:55, last +0.9%). ABC Consumer Confidence (last -22), JP Morgan High Yield Conference, Sidoti & Company Emerging Growth Institutional Investor Forum. Trades Ex-split: FWLT 2-1. Trades Ex-dividend: AMN $0.25. HMSY added to the S&P 600 after the close.
Earnings
Before the Open: ADTN, AKS, ABK, AMFI, BAC, BKUNA, BJS, BPOP, CSX, DST, DD, ETN, ELS, FAST, FITB, FMER, INVX, JEC, JNJ, KEY, LEE, LM, MDP, VIVO, NCC, PETS, PTEC, PCP, RDN, RF, RGS, SAY, SIFY, SLG, SU, TLAB, UAUA, UNH, USAP, WB, WAT, WGOV. After the Close: ACF, AAPL,CAMD, CREE, FIC, FULT, HBHC, HOKU, IBKC, NSC, PKG, PHHM, PLT SPSN, STM, SUPX, TXN, TRMK.
 
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 1:13 PM

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