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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, October 07, 2008

Futures Trading levels and Economic reports for October 8th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Another strong down day with high volume. Wide ranges during the day, market moves fast and we are sometimes seeing 2-6 mini SP points in matter of seconds.
 
You must understand that these are not the same trading conditions you are probably used to and one must adjust their trading and approach to accomodate that type of trading.
 
As always, if you have any questions please feel free to contact me.
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1133.70 1508.67 10587 641.90
Resistance 2 1105.60 1472.83 10356 622.80
Resistance 1 1055.70 1404.67 9947 589.50
Pivot 1027.60 1368.83 9716 570.40
Support 1 977.70 1300.67 9307 537.10
Support 2 949.60 1264.83 9076 518.00
Support 3 899.70 1196.67 8667 484.70
         
Contract  Dec Gold Dec. Euro Nov. Crude Oil Dec. Bonds 
Resistance 3 937.70            1.4014 97.31 123  1/32
Resistance 2 915.70            1.3881 95.17 122 13/32
Resistance 1 902.00            1.3747 92.16 121 13/32
Pivot 880.00            1.3614 90.02 120 26/32
Support 1 866.30            1.3480 87.01 119 26/32
Support 2 844.30            1.3347 84.87 119  6/32
Support 3 830.60            1.3213 81.86 118  6/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

10/8

6:00

3-Oct

MBA Mortgage Applications

- -

- -

- -

-23.00%

WED

9:00

AUG

Pending Home Sales MoM

- -

-1.00%

- -

-3.20%

 

 

 

 

 

 

 

 

 
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 1:27 PM

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