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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, June 05, 2008

Futures Trading levels and Economic reports for June 6th

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

Some may say that a strong move like we saw today before tomorrows monthly un employment figures, suggest "someone knows something…" Not sure if that is the case or not. Maybe the market is already discounting a better than expected number tomorrow and that means we are in for an interesting trading day ahead.

1407 is very close…and this is the next resistance. After that we are open for 1421. On the flip side 1391 will act as major support.

Have a great trading day!

 
LEVELS:
 
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1438.67 2111.67 12927 792.47
Resistance 2 1421.93 2085.83 12771 778.03
Resistance 1 1413.47 2072.67 12691 770.57
Pivot 1396.73 2046.83 12535 756.13
Support 1 1388.27 2033.67 12455 748.67
Support 2 1371.53 2007.83 12299 734.23
Support 3 1363.07 1994.67 12219 726.77
         
Contract  August Gold June Euro July Crude Oil Sept. Bonds 
Resistance 3 901.37 1.5910 137.05 115  8/32
Resistance 2 892.33 1.5752 132.66 114 26/32
Resistance 1 885.77 1.5672 130.40 114  1/32
Pivot 876.73 1.5514 126.01 113 19/32
Support 1 870.17 1.5434 123.75 112 26/32
Support 2 861.13 1.5276 119.36 112 12/32
Support 3 854.57 1.5196 117.10 111 19/32
 
REPORTS (EST): Provided by www.tradethenews.com

Friday, June 06, 2008


Economic
8:30am May Change in Manufacturing Payrolls (last –46K), May Change in Nonfarm Payrolls (last –20K), May Average Hourly Earnings (last m/m 0.1%, y/y 3.4%), May Average Weekly Hours (last 33.7), May Unemployment Rate (last 5.0%)
10:00am April Wholesale Inventories (last –0.1%)
3:00pm April Consumer Credit (last $15.3B)
Events
8:45am Fed's Kroszner speaks on financial markets in Boston. 11:15am Fed's Evans speaks in Chicago. 1:30pm Fed's Bullard speaks on housing in Wisconsin. S&P US Aviation Seminar. CHK Shareholders Meeting. LINTA Annual Meeting. Trades Ex-dividend: HRB $0.143, TRV $0.30, OXY $0.32, POM $0.27, BAX $0.218.
Earnings
During Trading Hours: PNY.
 
 
 
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 1:06 PM

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