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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Friday, June 06, 2008

Futures Trading levels and Economic reports for June 9th

 
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Dear Trader,
 
 

Market sold off hard today after monthly un-employment number and an $11 rally in crude oil.

From a technical point of view, this is quite bearish as today's sell off was more than double of yesterdays rally!

1350 and 1329 are the next support levels, while a break above 1371 may be a start in stabilizing this sell off.

It will be an interesting Monday, so take advantage and enjoy the weekend!

 
LEVELS:
 

Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1419.10 2077.33 12987 785.43
Resistance 2 1406.90 2059.67 12824 776.17
Resistance 1 1383.70 2025.33 12514 758.43
Pivot 1371.50 2007.67 12351 749.17
Support 1 1348.30 1973.33 12041 731.43
Support 2 1336.10 1955.67 11878 722.17
Support 3 1312.90 1921.33 11568 704.43
         
Contract  August Gold June Euro July Crude Oil Sept. Bonds 
Resistance 3 937.87 1.6037 153.62 116 28/32
Resistance 2 921.43 1.5903 146.37 115 28/32
Resistance 1 912.87 1.5834 142.31 115  7/32
Pivot 896.43 1.5700 135.06 114  6/32
Support 1 887.87 1.5631 131.00 113 17/32
Support 2 871.43 1.5497 123.75 112 17/32
Support 3 862.87 1.5428 119.69 111 28/32

 

REPORTS (EST): provided by www.tradethenews.com
 

Monday, June 09, 2008


Economic
10:00am April Pending Home Sales m/m (last –1%)
11:00am Treasury's 10-year note announcement
Events
12:15pm Fed's Geithner speaks about the economy in New York. 5:00pm Fed's Rosengren speaks at banking conference. 8:15pm Fed Chairman Bernanke speaks at Boston Fed conference. 8:30am FDA Pediatric Ethics Subcommittee meeting. Deutsche Bank Media and Telecom Conference. Goldman Sachs Global Healthcare Conference. Piper Jaffray Consumer Conference. Susquehanna India Conference. VAR mid-year review. Trades Ex-dividend: CTL $0.068, IGT $0.14, APC $0.09, AEE $0.635, BKC $0.063, ELY $0.07.
Earnings
Before the Open: BKRS. After the Close: NX, SHFL.
 
 
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 1:05 PM

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