Futures Trading levels and Economic reports for April 30th
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Dear Trader,
I expect a volatile market over the next few days, starting with tomorrow's session.
Market has been consolidating in a tight range for the last few sessions. The longer markets congest, the bigger the move that follows.
With tomorrows GDP pre market and FOMC around 2:15 eastern, the market will have lots of news to digest on the last trading day of April.
It is my opinion that if you are a relatively new trader, it is wiser to stay out and not try to day-trade during the FOMC announcement due to high volatility.
Good trading!
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1407.73 | 1983.67 | 12963 | 734.50 |
| Resistance 2 | 1402.87 | 1966.33 | 12924 | 729.75 |
| Resistance 1 | 1396.93 | 1952.67 | 12873 | 724.00 |
| Pivot | 1392.07 | 1935.33 | 12834 | 719.25 |
| Support 1 | 1386.13 | 1921.67 | 12783 | 713.50 |
| Support 2 | 1381.27 | 1904.33 | 12744 | 708.75 |
| Support 3 | 1375.33 | 1890.67 | 12693 | 703.00 |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 895.87 | 1.5728 | 121.62 | 117 9/32 |
| Resistance 2 | 890.93 | 1.5679 | 120.23 | 117 1/32 |
| Resistance 1 | 883.87 | 1.5607 | 117.75 | 116 18/32 |
| Pivot | 878.93 | 1.5558 | 116.36 | 116 10/32 |
| Support 1 | 871.87 | 1.5486 | 113.88 | 115 28/32 |
| Support 2 | 866.93 | 1.5437 | 112.49 | 115 20/32 |
| Support 3 | 859.87 | 1.5365 | 110.01 | 115 5/32 |
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
Wednesday, April 30, 2008
Economic
8:15am April ADP Employment Change (last 8K)
8:30am Q1 GDP (last 0.6%), Q1 Personal Consumption (last 2.3%), Q1 GDP Price Index (last 2.4%), Q1 Core PCE q/q (last 2.5%), Q1 Employment Cost Index (last 0.8%)
9:00am US Treasury Quarterly Refunding
9:45am April Chicago Purchasing Manager (last 48.2)
10:00am April NAPM-Milwaukee (last 47.0)
10:30am Crude Oil/Gasoline/Distillate Inventories
1:00pm Fed's TSLF Announcement
2:15pm FOMC Rate Decision
Events
Morgan Stanley Global Healthcare Unplugged Conference. MBA Mortgage Applications (7:00, last –14.2%). Trades Ex-dividend: SGP $0.065, WY $0.60, AA $0.17, NSC $0.29, PETM $0.03.
Earnings
Before the Open: ACW, ALU, ALEX, ALXN, AMED, APU, AACC, AUXL, AVA, BEC, BHP, BLT, BCO, CACH, CBI, CDI, CNP, CPS, CBB, CINF, CL, CEG, COCO, CRY, CMI, DF, ELON, EFJI, ENDP, EEFT, FSLR, FORR, FPL, FTD, GRMN, GEO, GOL, GRP, GLF, HW, HNT, HES, HPT, ICON, INCY, IR, IACI, IPG, IP, IONA, JNY, K, KFT, LFUS, MHO, MWV, MPS, NOV, NJR, NOVN, OZM, OMX, ZEUS, ORCT, PTI, PMI, PG, FRZ, RBC, RHB, RAI, ROC, RSTI, SAP, SEE, SLAB, SPIL, SKYW, SO, SPW, STRA, BRLC, TLM, TSTY, TNB, TWX, TWC, TKR, TRS, TRX, TRW, UGI, UIS, UMC, VPHM, VC, WBC, WMAR, WXS. After the Close: ARAY, AKAM, AYE, AIQ, AW, MDRX, AMKR, ARNA, AHT, ATML, AVB, CAR, AXTI, BLOG, BDN, CBT, COG, CAI, CALD, CBL, CDR, CTX, CEDC, CNQR, DCGN, XRAY, DNEX, DTE, DRCO, EQR, FARO, FISV, FBN, GNK, GMR, GHDX, ROCK, GLUU, GCFB, GW, GSIG, HVT, HLX, INTX, IRBT, ISTA, ITRI, JDSU, KONA, LHCG, LOOP, MANT, MCGC, MCRS, MIL, MIPS, MRT, MUR, NVT, NBIX, NEWP, NVEC, OIIM, OII, ODSY, OMTR, OKE, OKS, OI, PSEM, PAA, PPO, PRU, PSYS, RADS, O, RNOW, SGMO, SBAC, SCRX, SFLY, SBUX, STNR, SUNH, SYMC, SMMX, TTEK, TWTC, TLGD, TRN, TTMI, ULTI, UDRL, UNM, URS, VIRL, VLCM, WCAA, WGL, WSH, XFML.
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 1:16 PM
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