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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, March 04, 2008

Futures Trading levels and Economic reports for March 5th

 
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Dear Trader,
 
The market bounced very powerfully from the recent low, made today at 1307. However, the pressure is still down and a break below 1300 may bring us closer to test the lows from Jan 22nd of 1262. Along the way I am sure we will see much action both ways.
 
Good Trading!
 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1361.40 1804.67 12504 688.83
Resistance 2 1346.70 1778.33 12372 684.92
Resistance 1 1336.60 1761.67 12296 679.83
Pivot 1321.90 1735.33 12164 675.92
Support 1 1311.80 1718.67 12088 670.83
Support 2 1297.10 1692.33 11956 666.92
Support 3 1287.00 1675.67 11880 661.83
         
Contract  April Gold March Euro April Crude Oil June Bonds 
Resistance 3 1007.70 1.5323 107.13 119  8/32
Resistance 2 998.10 1.5285 105.23 118 31/32
Resistance 1 982.20 1.5245 102.67 118 13/32
Pivot 972.60 1.5207 100.77 118  4/32
Support 1 956.70 1.5167 98.21 117 19/32
Support 2 947.10 1.5129 96.31 117 10/32
Support 3 931.20 1.5089 93.75 116 24/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Wednesday, March 05, 2008


Economic
7:30am Feb Challenger Job Cuts y/y (last 19.1%)
8:15am Feb ADP Employment Change (last 126K)
8:30am Q4 Nonfarm Productivity, Q4 Unit Labor Costs (last 2.1%)
10:00am Jan Factory Orders (last 2.3%), Feb ISM Non Manufacturing (last 44.6)
10:30am Crude Oil/Gasoline/Distillate Inventories
2:00pm Fed Beige Book
11:00pm BoJ Monetary Policy Meeting
Events
7:30pm Fed's Pianalto speaks on economy in New York. OPEC Minister's Meeting. Same Store Sales after the close. MBA Mortgage Applications (7:00, last –19.2%). CIBC Retail Conference, Credit Suisse Global Biotechnology Conference, WestLB CeBIT Conference. Trades Ex-dividend: AIG $0.20, ADI $0.18, BAC $0.64, PEP $0.375, EP $0.04, PBG $0.14.
Earnings
Before the Open: AES, BIG, BJ, BWS, CSIQ, PLTE, COST, CXR, EFJI, FTEK, MTCT, RHB, SKS, STXS, TICC, TRMP. After the Close: ADCT, ALJ, AIMC, ATHN, CWST, CMTL, DDS, DXPE, DDMX, FCEL, HRB, INTX, LEV, LDG, MATK, MRN, MBLX, MR, PETM, WINS, SD, SMSI, STEC, SUNH, TIVO, UDRL, CHIP.
 
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 1:09 PM

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