Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
Sloppy Monday....market tested lows, tested highs and finished un changed ahead of tomorrows reports. I am going to guess that we will see more volatility tomorrow. Hope you have a great trading week!
LEVELS:
| Contract (Sept. 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1382.40 | 2047.00 | 12449 | 755.23 |
| Resistance 2 | 1374.80 | 2025.00 | 12392 | 748.47 |
| Resistance 1 | 1367.70 | 2008.00 | 12327 | 743.53 |
| Pivot | 1360.10 | 1986.00 | 12270 | 736.77 |
| Support 1 | 1353.00 | 1969.00 | 12205 | 731.83 |
| Support 2 | 1345.40 | 1947.00 | 12148 | 725.07 |
| Support 3 | 1338.30 | 1930.00 | 12083 | 720.13 |
| | | | | |
| Contract | August Gold | Sept. Euro | July Crude Oil | Sept. Bonds |
| Resistance 3 | 927.17 | 1.5656 | 145.34 | 113 7/32 |
| Resistance 2 | 912.23 | 1.5600 | 142.61 | 112 28/32 |
| Resistance 1 | 898.57 | 1.5480 | 138.29 | 112 15/32 |
| Pivot | 883.63 | 1.5380 | 135.56 | 112 4/32 |
| Support 1 | 869.97 | 1.5305 | 131.24 | 111 22/32 |
| Support 2 | 855.03 | 1.5209 | 128.51 | 111 11/32 |
| Support 3 | 841.37 | 1.5134 | 124.19 | 110 30/32 |
Tuesday, June 17, 2008
Economic
8:30am May PPI (last m/m 0.2%, y/y 6.5%, ex food & energy last m/m 0.4%, y/y 3.0%), Q1 Current Account Balance (last -$172.9B), May Housing Starts (last 1.032M), May Building Permits (last 982K)
9:15am May Industrial Production (last –0.7%), May Capacity Utilization (last 79.7%)
Events
8:00am FDA Dermatologic and Ophthalmic Drugs Advisory Committee. Release of BoJ monetary policy meeting minutes. Capstone Small-Cap Investor Conference. Credit Suisse Global Nanotech Conference. Deutsche Bank Emerging Markets Managers Forum. S&P Energy Outlook Forum. William Blair Growth Stock Conference. Windhover Medical Device Summit. ICSC/UBSW Chain Store Sales (7:45, last +1.7%). Redbook Retail Sales (8:55, last +2.1%). ABC Consumer Confidence (last -45). BK Investor Conference. HSY Investor Update. ACXM Investor Day. Trades Ex-dividend: IFF $0.23, PHM $0.04, SRE $0.35, TSS $0.07, AINV $0.52.
Earnings
Before the Open: BBY, FDS, GS. After the Close: CLC.
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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