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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, April 07, 2008

Futures Trading levels and Economic reports for April 8th

 
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Dear Trader,
 
1389 is todays high. It is also major resistance on the hourly charts. The first attempt today was met with a strong sell off from this level.
 
If we can close above 1389 we may see higher prices in the days/weeks to come, otherwise we are still in that wide range I spoke about the last few weeks (1307-1389)
 
Good Trading!
 
LEVELS:
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1403.70 1920.67 12855 726.83
Resistance 2 1396.10 1907.33 12792 723.57
Resistance 1 1385.70 1888.67 12706 717.53
Pivot 1378.10 1875.33 12643 714.27
Support 1 1367.70 1856.67 12557 708.23
Support 2 1360.10 1843.33 12494 704.97
Support 3 1349.70 1824.67 12408 698.93
         
Contract  June Gold June Euro May Crude Oil June Bonds 
Resistance 3 950.47 1.5822 113.96 119 28/32
Resistance 2 941.73 1.5757 111.72 119  8/32
Resistance 1 934.27 1.5707 110.34 118 26/32
Pivot 925.53 1.5642 108.10 118  6/32
Support 1 918.07 1.5592 106.72 117 24/32
Support 2 909.33 1.5527 104.48 117  4/32
Support 3 901.87 1.5477 103.10 116 22/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Tuesday, April 08, 2008


Economic
10:00am Feb Pending Home Sales m/m (last 0.0%), April IBD/TIPP Economic Optimism (last 42.5)
2:00pm Release of Minutes from March 18 FOMC Meeting
Events
Credit Suisse Global Real Estate Conference. ICSC/UBSW Chain Store Sales (7:45am, last –0.2%). Redbook Retail Sales (8:55am, last 1.0%). ABC Consumer Confidence (last -33). Trades Ex-dividend: JCP $0.20, PGN $0.615, T $0.40, VZ $0.43.
Earnings
Before the Open: BKRS, CHTT, LAYN, MSM, QXM. After the Close: ZZ.
 
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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