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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, October 15, 2008

Futures Trading levels and Economic reports for Oct. 16th

 
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Dear Trader,
 
Another wild day, this time on the way down...Below is an hourly chart of PIT SP 500. Notice that the rally yesterday stopped almost on the mark of the 50% fibonacci level.
 
Next MAJOR support is low made Friday, Oct. 10th at 838.50, major resistance around 1007.
 
In between we have LOTS of room for EXTRA wild swings.
 
 
LEVELS:
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1038.67 1442.33 9700 609.20
Resistance 2 1009.83 1400.67 9450 585.60
Resistance 1 955.67 1318.33 8965 540.30
Pivot 926.83 1276.67 8715 516.70
Support 1 872.67 1194.33 8230 471.40
Support 2 843.83 1152.67 7980 447.80
Support 3 789.67 1070.33 7495 402.50
         
Contract  Dec Gold Dec. Euro Nov. Crude Oil Dec. Bonds 
Resistance 3 887.87            1.3838 82.74 116 26/32
Resistance 2 873.53            1.3764 80.95 115 26/32
Resistance 1 861.77            1.3627 77.43 115  8/32
Pivot 847.43            1.3553 75.64 114  8/32
Support 1 835.67            1.3416 72.12 113 23/32
Support 2 821.33            1.3342 70.33 112 23/32
Support 3 809.57            1.3205 66.81 112  5/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

10/16

7:30

SEP

Consumer Price Index (MoM)

- -

0.10%

-.3% - +.2%

-0.10%

THU

7:30

SEP

CPI Ex Food & Energy (MoM)

- -

0.20%

+.1% - +.3%

0.20%

 

7:30

11-Oct

Initial Jobless Claims

- -

470K

- -

478K

 

7:30

SEP

Consumer Price Index NSA

- -

219.2

- -

219.086

 

7:30

4-Oct

Continuing Claims

- -

3670K

- -

3659K

 

8:00

AUG

Net Long-term TIC Flows

- -

$30.0B

- -

$6.1B

 

8:00

AUG

Total Net TIC Flows

- -

- -

- -

-$74.8B

 

8:15

SEP

Industrial Production

- -

-0.80%

- -

-1.10%

 

8:15

SEP

Capacity Utilization

- -

77.90%

77% - 78.7%

78.70%

 

8:30

 

Bullard to speak at St. Louis Fed's annual economic policy conference

 

 

 

 

 

9:00

OCT

Philadelphia Fed.

- -

-10

-25 - +5

3.8

 

11:00

 

Stern to spreak at a Rotary Blub luncheon in MI

 

 

 

 

 

12:00

OCT

NAHB Housing Market Index

- -

17

16 - 18

18

 
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 1:11 PM

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