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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, May 20, 2008

Futures Trading levels and Economic reports for May 21st

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
FOMC minutes tomorrow can move the market.
 
Strong support at 1407, major resistance at 1441.
 
Good Trading!
 
LEVELS:
 
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1435.53 2042.67 13278 753.87
Resistance 2 1428.67 2028.33 13162 747.03
Resistance 1 1422.73 2018.67 13006 742.47
Pivot 1415.87 2004.33 12890 735.63
Support 1 1409.93 1994.67 12734 731.07
Support 2 1403.07 1980.33 12618 724.23
Support 3 1397.13 1970.67 12462 719.67
         
Contract  June Gold June Euro June Crude Oil June Bonds 
Resistance 3 949.90 1.5898 133.12 118 19/32
Resistance 2 937.00 1.5782 131.21 117 31/32
Resistance 1 928.90 1.5713 130.11 117 19/32
Pivot 916.00 1.5597 128.20 117     
Support 1 907.90 1.5528 127.10 116 20/32
Support 2 895.00 1.5412 125.19 116     
Support 3 886.90 1.5343 124.09 115 20/32
 
REPORTS (EST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

5/21

6:00

16-May

MBA Mortgage Applications

- -

- -

- -

2.90%

WED

13:00

 

Minutes of April 29-30 FOMC Meeting

 

 

 

 

 
Note all time are CST. 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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