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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, March 05, 2008

Futures Trading levels and Economic reports for

 
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Dear Trader,
 
We had 25 point range on the SP500 today with day-trading set ups (and risks...) on both sides of the market.
 
Lots of anticipation in the market ahead of Fridays un-employment report, but Thursday comes before Friday....and we will have enough news for the market to swing around. However, I doubt the market will break either way before Fridays numbers.
 
Good trading!
 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1370.47 1802.00 12568 697.33
Resistance 2 1357.73 1786.50 12462 691.67
Resistance 1 1345.97 1770.00 12363 688.33
Pivot 1333.23 1754.50 12257 682.67
Support 1 1321.47 1738.00 12158 679.33
Support 2 1308.73 1722.50 12052 673.67
Support 3 1296.97 1706.00 11953 670.33
         
Contract  April Gold March Euro April Crude Oil June Bonds 
Resistance 3 1029.33 1.5486 111.81 118 27/32
Resistance 2 1012.17 1.5392 108.38 118  9/32
Resistance 1 1000.33 1.5327 106.41 117 10/32
Pivot 983.17 1.5233 102.98 116 24/32
Support 1 971.33 1.5168 101.01 115 25/32
Support 2 954.17 1.5074 97.58 115  7/32
Support 3 942.33 1.5009 95.61 114  8/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, March 06, 2008


Economic
7:00am BoE Interest Rate Decision
7:45am ECB Interest Rate Decision, ECB Revised Growth Forecast
8:30am Initial Jobless Claims (last 373K), Continuing Claims (last 2.807M)
10:00am Jan Pending Home Sales m/m (last –1.5%), Q4 Mortgage Delinquencies
10:30am Natural Gas Inventories
Events
8:00am Fed's Rosengren speaks at economic breakfast in Massachusetts. 9:00am Fed's Consumer Advisory Council meets on mortgage lending. 1:00pm Fed's Geithner speaks about financial challenges in New York. 7:30pm Fed's Rosengren speaks on risk management at the Chicago Fed. 8:00pm Fed's Poole speaks at the University of Illinois. Same Store Sales before the open. ICSC/UBSW Chain Store Sales (1:30, last +0.5%). Apple Meeting on iPhone Software Roadmap, RBC Diamond Conference. Trades Ex-dividend: NKE $0.23, CTL $0.068, TRV $0.29, PEG $0.323, OXY $0.25.
Earnings
Before the Open: AIRM, ALOG, BCRX, BRLI, BBI, CMN, CPHL, CSK, CNSL, DSGX, FLE, ISTA, JMP, JOYG, KFY, LINC, MEMY, MEI, OMRI, ORCH, OFIX, SGK, SHMR, SOLF, TWGP, USPH, URBN, WON. After the Close: TDSC, ASHW, ADBL, BLG, CASY, CNK, COO, DEPO, BOOM, HRLY, HOV, HRAY, IFON, INXI, ISLE, JSDA, LXRX, LTON, MRVL, MRGE, NSM, NGPS, OPTM, PSPT, ZQK, RAE, SIE, STAA, STAN, TRMS, VM, WIND.
 
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 1:11 PM

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