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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, April 16, 2008

Futures Trading levels and Economic reports for April 17th

 
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Dear Trader,
 
Strong up trending day. (1st clue was failure for the market to trade below opening range in the first 30 minutes).
 
Great article by my colleague, Jonathan Day about using support/resistance levels at:
 
 
LEVELS:
 
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1392.53 1901.33 12848 732.92
Resistance 2 1379.87 1878.67 12737 723.33
Resistance 1 1372.33 1865.33 12668 717.67
Pivot 1359.67 1842.67 12557 708.08
Support 1 1352.13 1829.33 12488 702.42
Support 2 1339.47 1806.67 12377 692.83
Support 3 1331.93 1793.33 12308 687.17
         
Contract  June Gold June Euro May Crude Oil June Bonds 
Resistance 3 963.20 1.6223 118.80 119 12/32
Resistance 2 957.70 1.6082 116.94 118 27/32
Resistance 1 953.00 1.5998 115.92 117 29/32
Pivot 947.50 1.5857 114.06 117 12/32
Support 1 942.80 1.5773 113.04 116 14/32
Support 2 937.30 1.5632 111.18 115 29/32
Support 3 932.60 1.5548 110.16 114 31/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, April 17, 2008


Economic
8:30am Initial Jobless Claims (last 357K), Continuing Claims (last 2.94M)
10:00am April Philadelphia Fed (last –17.4), March Leading Indicators (last –0.3%)
10:30am Natural Gas Inventories
Events
9:45am Fed's Kohn speaks at conference on credit markets and banking. 10:30am Fed's Prescott speaks on Fed panel. 2:00pm Fed's Fisher speaks in Chicago to the Council on Global Affairs. 3:00pm Fed's Lacker speaks to the media at the Charlotte Credit Conference. 3:15pm Fed's Calabia moderates panel on credit risk. Small & Mid Cap Financials Conference. Trades Ex-split: CHDX 3-2. Trades Ex-dividend: CVS $0.06, OEH $0.025, SHLM $0.15, FFNW $0.075.
Earnings
Before the Open: SMLC, AOS, AMFI, ECOL, AM, APH, ASPM, BK, BAX, BBT, BGG, CHINA, CHKP, CIT, CMA, CAO, CY, DHR, DSL, FCS, FHN, FRPT, GPC, HOG, HSY, HNI, RX, IART, IGT, JRC, KEY, LSTR, MAR, MMR, MEG, VIVO, MER, MLAN, NYT, NOK, NUE, ORB, PFE, PNC, BPOP, PPG, RS, RSTO, SGP, SHW, SLM, SON, LUV, SPNC, SPWR, SVU, SXCI, BRLC, AMTD, TTEC, TXT, UTEK, UTX, USAK, WSO, WCG. During Trading Hours: HTLD. After the Close: AMD, DOX, ARNA, BKUNA, COF, CX, GRRF, CYN, CTCT, CPSS, CBST, CYBS, CYT, ETFC, ESLR, FNB, FCF, GOL, GOOG, HIFN, ICUI, INFA, INPC, ISRG, KKD, LHO, MCGC, MELI, MHK, MGI, PKTR, PNFP, LGBT, PMCS, PGI, QMED, RLI, SNDK, SEP, SYK, SRDX, TPX, TMA, VASC, ZION.
 
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 1:17 PM

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