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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, May 05, 2008

Futures Trading levels and Economic reports for May 6th

 
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Dear Trader,
 
Market is trying to get more of a bullish stance the last few sessions. The bulls can be encouraged from the fact that we are holding above the 1400 psychological level on the SP500. On the other hands, the bears still have hope as the market is losing momentum against some major resistance levels between 1417 - 1424 and may see some profit taking if we can go below 1400.
 
 
 
LEVELS:
 
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1425.90 2022.33 13137 735.08
Resistance 2 1420.80 2010.17 13089 731.67
Resistance 1 1414.50 1995.33 13024 727.33
Pivot 1409.40 1983.17 12976 723.92
Support 1 1403.10 1968.33 12911 719.58
Support 2 1398.00 1956.17 12863 716.17
Support 3 1391.70 1941.33 12798 711.83
         
Contract  June Gold June Euro June Crude Oil June Bonds 
Resistance 3 885.90 1.5599 125.91 117  7/32
Resistance 2 880.30 1.5545 123.13 116 25/32
Resistance 1 877.20 1.5502 121.60 116 15/32
Pivot 871.60 1.5448 118.82 116  1/32
Support 1 868.50 1.5405 117.29 115 22/32
Support 2 862.90 1.5351 114.51 115  8/32
Support 3 859.80 1.5308 112.98 114 30/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Tuesday, May 06, 2008


Economic
None Seen
Events
9:30pm Fed's Hoenig speaks in Denver on market risk and policy. ICSC/UBSW Chain Store Sales (7:45am, last +0.9%). Redbook Retail Sales (8:55am, last +1.3%). ABC Consumer Confidence (last -41). BMY Shareholders Annual Meeting. Credit Suisse Basic Materials Conference. Merrill Lynch Technology Conference. Trades Ex-dividend: TJX $0.11, MWV $0.23, MER $0.35, BTU $0.06, KBH $0.25, FII $0.24.
Earnings
Before the Open: APAC, WTR, ARJ, ATRC, ABX, BBG, CSE, CPHL, FUN, CHD, XEC, CXW, COV, COWN, DK, UFS, RRD, DHI, ECLP, EMS, EMR, EL, FNM, FTE, FTEK, WOLF, HSIC, HDIX, HPT, HURN, HYGS, ITWO, IAR, IPGP, LAZ, LMIA, LPX, MMP, MLM, PCS, MGM, MDH, TAP, MYGN, NSSC, NURO, NYX, PTRY, PKD, PEI, PFGC, PRGO, PQ, PCG, PLA, PCP, PEG, Q, SLE, SIRI, SKH, SE, SPC, JOE, STXS, TKLC, THC, TEVA, TWGP, TDG, TWP, UNT, VTAL, VNO, WTI, WWE, XRIT. During Trading Hours: SNHY. After the Close: ACAS, ACLI, ASYT, STHN, BIDZ, BIO, NILE, BDE, BEXP, CELL, CRL, CHRD, CHDN, CSCO, CNL, CRK, CPTS, OFC, CUTR, TRAK, DM, EGLE, EXP, ESE, XCO, EXEL, EXLS, GSX, CHDX, GGC, HCKT, HAR, HLEX, HLS, HLTH, SOLD, HYC, IIG, IO, JCOM, JKHY, KCP, LIZ, MFB, MCHX, ME, MXWL, MFLX, ORCC, ONXX, OPTV, OPMR, OSUR, ORA, OSIP, PACR, PEC, POL, PRXI, QSII, RFMD, RUTH, SLXP, SOMX, SRX, STAA, STAN, SGY, SNCR, SVR, TTGT, TS, TSO, THQI, TLCV, UPL, UNTD, UAM, UTI, VCLK, VTR, DIS, WRNC, WBMD, GB, WMS, ZGEN.
 
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 1:14 PM

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