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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, March 17, 2008

Futures Trading levels and Economic reports for March 18th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
FOMC tomorrow. If you never traded on an FOMC day, I suggest you stop trading at 11 Am pacific ( 2 PM Eastern) and just observe the action that takes place. If you have experience trading on FOMC days then you know volatility can jump tremendously from 10 minutes before the announcement all the way to the end of the session.
 
Trade well!
 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1324.83 1754.83 12470 677.70
Resistance 2 1307.17 1734.42 12272 669.10
Resistance 1 1293.33 1714.83 12135 660.20
Pivot 1275.67 1694.42 11937 651.60
Support 1 1261.83 1674.83 11800 642.70
Support 2 1244.17 1654.42 11602 634.10
Support 3 1230.33 1634.83 11465 625.20
         
Contract  April Gold March Euro April Crude Oil June Bonds 
Resistance 3 1030.90 1.6019 119.49 121 22/32
Resistance 2 1024.20 1.5920 115.64 121  1/32
Resistance 1 1013.40 1.5790 110.92 120 20/32
Pivot 1006.70 1.5691 107.07 119 31/32
Support 1 995.90 1.5561 102.35 119 19/32
Support 2 989.20 1.5462 98.50 118 30/32
Support 3 978.40 1.5332 93.78 118 17/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Tuesday, March 18, 2008


Economic
8:30am Feb PPI (last m/m 1.0%, y/y 7.4%, ex food & energy m/m 0.4%, y/y 2.3%), Feb Housing Starts (last 1.012M), Feb Building Permits (last 1.016M)
2:15pm FOMC Rate Decision
Events
8:30am FDA Advisory Committee for Pharmaceutical Science and Clinical Pharmacology, ICSC/UBSW Chain Store Sales (7:45, last 0.3%). Redbook Retail Sales (8:55, last 1.0%). ABC Consumer Confidence (last -30). JP Morgan Aviation & Transportation Conference, Morgan Stanley Global Automotive Conference, Standard & Poor's Utilities Conference. Trades Ex-dividend: IFF $0.23, TIF $0.15, SRE $0.32, CINF $0.39, TSS $0.07, DDR $0.69.
Earnings
Before the Open: CRYP, FDS, GME, GTOP, GS, LEH, QXM, SMTS, TNP. After the Close: AIR, ADBE, DRI, FMCN, FSII, HWAY, RADN, UBET.
 
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 1:31 PM

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