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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, February 26, 2008

Futures Trading levels and Economic reports for Feb. 27th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Strong resistance above at 1400 level basis the March SP. Plenty of volatility and range for day-traders.
 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1416.50 1862.00 13003 745.67
Resistance 2 1402.30 1836.50 12872 734.83
Resistance 1 1392.40 1816.00 12783 728.17
Pivot 1378.20 1790.50 12652 717.33
Support 1 1368.30 1770.00 12563 710.67
Support 2 1354.10 1744.50 12432 699.83
Support 3 1344.20 1724.00 12343 693.17
         
Contract  April Gold March Euro April Crude Oil March Bonds 
Resistance 3 968.77 1.5239 104.70 117  4/32
Resistance 2 959.63 1.5107 102.92 116 21/32
Resistance 1 954.27 1.5034 102.01 116 11/32
Pivot 945.13 1.4902 100.23 115 28/32
Support 1 939.77 1.4829 99.32 115 18/32
Support 2 930.63 1.4697 97.54 115  3/32
Support 3 925.27 1.4624 96.63 114 25/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, February 27, 2008


Economic
8:30 Jan Durable Goods Orders (last 5%, ex transport 2.3%)
10:00 Jan New Home Sales (last 604K, m/m –4.7%)
10:30 Crude Oil/Gasoline/Distillate Inventories
1:00 US Treasury's 2-year note auction
Events
8:30am ECB's Wellink speaks in New York. 10:00am Fed Chairman Bernanke testifies before House Panel on monetary policy. 10am Fed's Mishkin speaks on financial literacy in Washington DC. 8:00am FDA Anti-Effective Drugs Advisory Committee Meeting. CIBC Israeli Technology Equities Conference, Credit Suisse AES & Equity Derivatives Forum, Deutsche Bank Brazil CEO Conference, Terrapinn Indexing & ETF Investments Asia Conference. MBA Mortgage Applications (7:00, last –22.6%). Trades Ex-dividend: QCOM $0.14, RX $0.03, D $0.395, ANF $0.175.
Earnings
Before the Open: AER, AMED, WTR, ALC, ATPG, BLT, BYD, CBI, CHTR, CKP, CLHB, CCOI, DLTR, RRD, DYN, EIX, ENOC, FRP, FSS, ICTG, IHP, IHR, KNDL, LAMR, LXP, LIFC, TVL, LKQX, MCGC, PCS, MTCT, NIHD, NBL, OC, HK, PDC, PXP, SPW, TOL, VPHM. After the Close: AIRN, ARNA, CDR, CEDC, CNL, FIX, CTRP, DDS, DBRN, DRCO, EGLE, BAGL, ESPD, DAVE, FVE, FLS, GMR, GMKT, GEF, INTX, LEAP, LHCG, LTD, MANT, MDR, MEDX, MRX, MGI, NKTR, NUVO, PDLI, PSA, CRM, SMSI, STAK, STNR, TK, TELK, TS, TYL, WLL.
 
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 1:05 PM

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