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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, June 17, 2008

Futures Trading levels and Economic reports for June 18th

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

Market took a pause after 3 days of rallying from lows made last week.

A case can be made for both bulls and the bears. My opinion is that the rally of the last few days was just a breather on the way down and that the bears have more control.

 

A break of 1342 and I will feel more confident about this opinion, a break above 1372 and I will switch my stance into neutral rather than slightly bearish.

 

Good trading!

 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1380.13 2026.67 12484 750.43
Resistance 2 1374.57 2015.83 12418 747.47
Resistance 1 1364.43 2000.67 12295 742.63
Pivot 1358.87 1989.83 12229 739.67
Support 1 1348.73 1974.67 12106 734.83
Support 2 1343.17 1963.83 12040 731.87
Support 3 1333.03 1948.67 11917 727.03
         
Contract  August Gold Sept. Euro July Crude Oil Sept. Bonds 
Resistance 3 908.07 1.5457 138.58 113 23/32
Resistance 2 899.53 1.5600 136.91 113  7/32
Resistance 1 893.27 1.5480 135.35 112 24/32
Pivot 884.73 1.5380 133.68 112  9/32
Support 1 878.47 1.5305 132.12 111 26/32
Support 2 869.93 1.5209 130.45 111 10/32
Support 3 863.67 1.5184 128.89 110 27/32
 
REPORTS (EST): Provided by www.tradethenews.com
 

Wednesday, June 18, 2008


Economic
10:35 Crude Oil/Gasoline/Distillate Inventories
Events
11:45am Fed's Yellen presents welcoming remarks at Fed Conference. Release of BoE releases monetary policy minutes. Credit Suisse Consumer Conference. Deutsche Bank South Africa Conference. Merrill Lynch Global Transportation Conference. SMi Group Debt & Equity Financing Conference. MBA Mortgage Applications (7:00, last 10.9%). Trades Ex-dividend: TIF $0.17, CINF $0.39, DDR $0.69, GGC $0.08, IIG $0.11, QUIX $0.20.
Earnings
Before the Open: KMX, CMC, DFS, FDX, LNN, MS, SMTS. After the Close: CWST, HWAY, IHS.
 
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 12:45 PM

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