Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, May 13, 2008

Futures Trading levels and Economic reports for May 14th

 

*To be removed, please reply with remove daytrading in subject line

 

Dear Trader,

 

"Lazy market" today.....Not sure if the uptrend will hold but as you can see from the daily chart below, we are still holding the trend lines, however momentum must pick up for this little rally to hold.

 

 

LEVELS:

 

Contract (June 2008)	SP500 (big & Mini)	Nasdaq100 (big & Mini)	Dow Jones (big & Mini)	Mini Russell
Resistance 3	1420.60	2040.67	13042	749.37
Resistance 2	1414.30	2025.33	12979	743.63
Resistance 1	1409.40	2015.67	12902	740.07
Pivot	1403.10	2000.33	12839	734.33
Support 1	1398.20	1990.67	12762	730.77
Support 2	1391.90	1975.33	12699	725.03
Support 3	1387.00	1965.67	12622	721.47
Contract	June Gold	June Euro	June Crude Oil	June Bonds
Resistance 3	907.67	1.5668	131.40	118 29/32
Resistance 2	897.43	1.5605	129.19	118  9/32
Resistance 1	881.87	1.5531	127.52	117  1/32
Pivot	871.63	1.5468	125.31	116 13/32
Support 1	856.07	1.5394	123.64	115  6/32
Support 2	845.83	1.5331	121.43	114 18/32
Support 3	830.27	1.5257	119.76	113 10/32

 

REPORTS (EST): Provided by www.tradethenews.com audio news and interactive research directly from the pits

 

Wednesday, May 14, 2008

Economic

8:30am April CPI (last m/m 0.3%, y/y 4.0%; ex food & energy m/m 0.2%, y/y 2.4%)

10:30am Crude Oil/Gasoline/Distillate Inventories

Events

8:30am Fed's Rosengren speaks on Basel II at Boston conference. 9:15am Fed's Kroszner speaks on Basel II, operational risk in Boston. 12:00 Fed's Lockhart speaks at financial markets conference. 4:40pm Fed's Yellen speaks on "Behind the Scenes at FOMC Meeting" in Tacoma. EK Shareholders Meeting. Calyon Securities Energy Conference. Credit Suisse European Technology Conference. MBA Mortgage Applications (7:00am, last 15.6%). Trades Ex-dividend: EMR $0.30, SPG $0.90, AIV $0.60, WMT $0.238, GM $0.25.

Earnings

Before the Open: ALLT, MT, ACAT, DE, DSX, EVEP, FTE, FRE, ITRN, JBX, M, NICE, CHUX, REDF, SNE, ELOS, BRLC, TEF, TTEC, VSAT, WATG. After the Close: ACXM, ANW, A, STV, IMOS, CTRP, CUB, FNET, PDLI, PETM, QSII, RUBO, SLRY, SINA, SPTN, SXE, SNS, TK, UTSI.

 

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 1:18 PM

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