Cannon Trading Co. Inc.
We believe. The next frontier in futures trading.
Since 1988

Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, June 24, 2008

Futures Trading levels and Economic reports for June 25th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
FOMC rate decision (no change is expected) at 14:15 EST tomorrow. Main focus is the language of the statement and reaction of market participants.
 
I have noticed more than a few times that initial volatility will go both ways before the market actually decides if it likes or dislikes the news......
 
Newcommers should watch from the sidelines and all traders should consider risk/ reward especially during the 14:00 to 15:00 time period (EST)
 
good trading!
 
LEVELS:
 
Contract (Sept. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1348.83 1975.33 12078 729.30
Resistance 2 1338.27 1955.67 11990 724.40
Resistance 1 1326.63 1934.33 11896 715.80
Pivot 1316.07 1914.67 11808 710.90
Support 1 1304.43 1893.33 11714 702.30
Support 2 1293.87 1873.67 11626 697.40
Support 3 1282.23 1852.33 11532 688.80
         
Contract  August Gold Sept. Euro August Crude Oil Sept. Bonds 
Resistance 3 908.17 1.5466 141.34 115 25/32
Resistance 2 902.33 1.5600 140.04 115  2/32
Resistance 1 896.07 1.5480 138.49 114 20/32
Pivot 890.23 1.5380 137.19 113 29/32
Support 1 883.97 1.5305 135.64 113 15/32
Support 2 878.13 1.5209 134.34 112 24/32
Support 3 871.87 1.5070 132.79 112 10/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

6/25

6:00

20-Jun

MBA Mortgage Applications

 

- -

- -

- -

WED

7:30

MAY

Durable Goods Orders

 

0.50%

- -

-0.50%

 

7:30

MAY

Durables Ex Transportation

 

- -

- -

2.50%

 

9:00

MAY

New Home Sales

 

510K

- -

526K

 

9:00

MAY

New Home Sales MoM

 

-3.00%

- -

3.30%

 

13:15

25-Jun

FOMC Rate Decision

 

2.00%

- -

2.00%

 
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.
 

posted by Cannon Trading at 1:03 PM

0 Comments:

Post a Comment

<< Home