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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, May 07, 2008

Futures Trading levels and Economic reports for May 8th

 
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Dear Trader,
 
1383 to 1424 is the range in my eyes currently for the SP500. Pressure downside will get stronger if the market breaks below 1383.
 
LEVELS:
 
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1442.27 2050.67 13256 748.83
Resistance 2 1431.13 2027.83 13152 741.27
Resistance 1 1413.07 1995.17 12994 729.43
Pivot 1401.93 1972.33 12890 721.87
Support 1 1383.87 1939.67 12732 710.03
Support 2 1372.73 1916.83 12628 702.47
Support 3 1354.67 1884.17 12470 690.63
         
Contract  June Gold June Euro June Crude Oil June Bonds 
Resistance 3 899.83 1.5650 128.29 117 17/32
Resistance 2 891.57 1.5580 126.09 116 25/32
Resistance 1 880.93 1.5477 124.94 116 13/32
Pivot 872.67 1.5407 122.74 115 21/32
Support 1 862.03 1.5304 121.59 115  8/32
Support 2 853.77 1.5234 119.39 114 16/32
Support 3 843.13 1.5131 118.24 114  4/32
 
REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits
 

Thursday, May 08, 2008


Economic
7:00am BOE Rate Decision
7:45am ECB Rate Decision
8:30am Initial Jobless Claims (last 380K), Continuing Claims (last 3.019M)
10:00am March Wholesale Inventories (last 1.1%)
10:30am Natural Gas Inventories
1:00pm US Treasury 30-year note auction
Events
12:30pm Former Fed Chairman Greenspan speaks in New York. April ICSC Chain Store Sales y/y (1:30pm, last -0.5). Bear, Sterns Pricing Direct Conference. Credit Suisse Analyst Healthcare Forum. S&P Emerging Issues in Fixed Income Markets Conference. Same Store Sales before the open. Trades Ex-split: PBR 2-1. Trades Ex-dividend: COF $0.375, GWW $0.40, MCHP $0.33, PPG $0.52, ROK $0.29.
Earnings
Before the Open: KDE, ABH, ADES, ACM, ATK, AMSC, ABV, ASCA, AHR, ARCC, STST, ARQL, ATPG, ABTL, BKRS, BRL, BNT, BCRX, BIOS, BVF, BORL, BRKR, CVC, CALP, CAPA, CRZO, CELG, CTIC, CKP, LNG, CSK, CDL, CGX, CNSL, CEP, XTEX, XTXI, CRYP, CUB, CMLS, CYPB, DWSN, DTPI, DSCO, DRQ, DYN, EIX, EP, ENER, EPL, ENG, ENZN, FRP, FVRL, FVE, FRPT, FIG, IT, GEL, GLBC, GLBL, GPX, HEES, IDA, ISPH, IART, ISIS, JAH, JRC, KALU, KG, KOP, LXP, LCUT, TVL, LINC, LINE, LIOX, MAC, MIC, MPW, MEMY, TMR, MGPI, MEND, MLNM, MINI, MNTA, NDAQ, NGS, NRP, NRF, OMG, OCR, ORCH, VITA, PTIE, PRX, PKE, PDX, HK, PNCL, PXP, POZN, PGN, RHD, RDN, RCNI, RSTO, RTIX, SBH, SGK, SIRO, SBSA, SPH, SUP, SWSI, SURW, SFY, SXCI, TICC, TTEC, PNX, TRGL, TM, THS, TRMP, RMIX, USPH, URBN, VICL, VG, WMG, WW, WNR, WATG, WPL, XMSR. During Trading Hours: SAM, DNDN, DIOD, EPEX, GCA, QSFT, RTK, WCI. After the Close: APKT, ATVI, ADPT, ABCO, AEM, AIRM, AIRN, ARE, ALNY, AIG, ARP, ANSV, ARTE, AGO, ATW, BE, BLTI, BRNC, BRKS, BUCA, BLG, CAMP, CPKI, CPE, CNQ, CTLM, CNTY, COSI, DAR, DWRI, DXCM, DEIX, HILL, ESIO, EMAG, EXAR, FMD, GMST, GDP, SRVY, GUID, HANS, HLYS, ICFI, IFON, IUSA, INWK, NSIT, IOM, IPAS, DMX, JUPM, LEAP, LLNW, LOCM, LMNX, MSSR, MEDX, MRX, MED, MELI, MRGE, MIDD, MOVE, NCMI, NHP, NKTR, UEPS, NLST, NGAS, NUAN, NUCO, NUVO, NVDA, OCNW, PEIX, PZZA, PLLL, PMC, POWR, PCLN, PSA, RNWK, RUBO, WINS, SALM, SD, SAPE, SGMS, SGTL, SIX, SONS, SRSL, SNS, SHO, SUPX, TEAM, KNOT, THRM, TMA, TIE, TRMS, TRLG, GROW, URS, YSI, VSE, CHIP, VRSN, VITL, WON, INT, WPTE, XOMA, ZOLT.
 
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.
 

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