Futures Trading levels and Economic reports for Jan 31st
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Dear Trader,
Fed came with a 50 basis points cut today and gave the market the intial fuel to the upside. However, lack of momentum/volume at the higher level ended with what may be a key downside reversal. The next couple of days will either confirm continued selling pressure or send this market into sideways action.
LEVELS:
| Contract (March 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1416.17 | 1886.00 | 12907 | 737.33 |
| Resistance 2 | 1401.83 | 1868.00 | 12791 | 726.42 |
| Resistance 1 | 1376.67 | 1839.00 | 12591 | 720.83 |
| Pivot | 1362.33 | 1821.00 | 12475 | 709.92 |
| Support 1 | 1337.17 | 1792.00 | 12275 | 704.33 |
| Support 2 | 1322.83 | 1774.00 | 12159 | 693.42 |
| Support 3 | 1297.67 | 1745.00 | 11959 | 687.83 |
| Contract | Feb. Gold | March Euro | Jan. Crude Oil | March Bonds |
| Resistance 3 | 930.67 | 1.5075 | 94.12 | 120 |
| Resistance 2 | 926.93 | 1.4982 | 93.42 | 119 16/32 |
| Resistance 1 | 923.77 | 1.4923 | 92.65 | 118 29/32 |
| Pivot | 920.03 | 1.4830 | 91.95 | 118 13/32 |
| Support 1 | 916.87 | 1.4771 | 91.18 | 117 26/32 |
| Support 2 | 913.13 | 1.4678 | 90.48 | 117 10/32 |
| Support 3 | 909.97 | 1.4619 | 89.71 | 116 23/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Thursday, January 31, 2008
Economic
8:30am Dec PCE Deflator y/y (last 3.6), Dec PCE Core (last m/m 0.2%, y/y 2.2%), Dec Personal Income (last 0.4%), Dec Personal Spending (last 1.1%), Initial Jobless Claims (last 301K), Continuing Claims (last 2.672M), Q4 Employment Cost Index (last 0.8%)
9:45am Jan Chicago Purchasing Manager (last 56.6)
10:00am Dec Help Wanted Index (last 21), Jan NAPM Milwaukee (last 62)
10:30am Natural Gas Inventories
Events
Carney replaces Dodge as Gov of BoC, 8:00 FDA Veterinary Medicine Advisory Committee, Growth Airline Conference. Trades Ex-split: MHS 3-2, BOLT 3-2. Trades Ex-dividend: CLMT $0.63, C $0.32, ETN $0.50, NBL $0.12, SO $0.403.
Earnings
Before the Open: AGYS, ATK, AHCI, AMSC, APA, AZN, ALV, BPHX, BCO, BMY, BC, BKC, CAM, CRR, CELG, CL, CVS, DCP, RDEN, ENOC, EQT, SSP, FLO, GR, GMCR, GHL, HAE, HBI, HSC, HHS, HP, HERO, HMC, IMCL, RX, ICE, ITG, FSTR, LLL, LB, LANC, LDR, LSTR, LEA, ERIC, MAN, MRO, MA, MAT, MBI, MEG, MPW, MRGE, MESA, MWIV, MYL, NDAQ, NURO, NYT, NWL, NCX, ODFL, OPXT, PTIE, PTRY, PCCC, PCZ, PDC, BPOP, PPL, PG, RDN, RTN, RSTI, RRST, SAF, SFUN, SEIC, SMI, SPIL, SNA, HOT, TSM, TSO, TKR, UTEK, UA, WCC, WU, WYE. During Trading Hours: BUD, IMO. After the Close: ABAX, ACTU, ACS, AFFX, ALTR, ASYT, AVNX, AVID, ACLS, BEZ, BEBE, BCR, CA, ELY, CLS, CX, CERN, CHRT, CSR, COHU, COLM, DDUP, DRIV, DNEX, DLB, DLLR, ERTS, EXAR, FMD, FRNT, GNSS, GGC, GYI, GOOG, HAIN, INFN, IUSA, ISRG, KTOS, LAVA, MEE, MCK, MNT, MCRL, MCHP, MCRS, MIL, MTX, MNST, NTY, NBIX, NEXT, OMCL, ONNN, OPLK, OHB, PKTR, PSEM, PFWD, RFMD, SLRY, ZZ, SMTL, SWIR, SIMO, SXE, STAR, SYMM, TSRA, TRID, VMSI, VRSN, VSAT, ZHNE, ZIGO.
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 1:06 PM
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