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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, October 16, 2008

Futures Trading levels and Economic reports for October 17th

 
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Dear Trader,
 
A copy and paste from yesterdays comments still holds true as comments for tomorrows action:
 
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 1058.67 1513.33 10060 611.57
Resistance 2 1004.33 1421.67 9530 575.33
Resistance 1 974.17 1373.33 9260 554.17
Pivot 919.83 1281.67 8730 517.93
Support 1 889.67 1233.33 8460 496.77
Support 2 835.33 1141.67 7930 460.53
Support 3 805.17 1093.33 7660 439.37
         
Contract  Dec Gold Dec. Euro Nov. Crude Oil Dec. Bonds 
Resistance 3 909.37            1.3744 80.83 116  8/32
Resistance 2 880.73            1.3639 77.67 115 19/32
Resistance 1 843.97            1.3552 74.90 114 21/32
Pivot 815.33            1.3447 71.74 114     
Support 1 778.57            1.3360 68.97 113  2/32
Support 2 749.93            1.3255 65.81 112 13/32
Support 3 713.17            1.3168 63.04 111 15/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

10/17

7:30

SEP

Housing Starts

- -

870K

840K - 935K

895K

FRI

7:30

SEP

Building Permits

- -

840K

- -

857K

 

9:00

OCT P

U. of Michigan Confidence

- -

65

55 - 74.1

70.3

 

11:45

 

Bullard will speak on a panel at annual eocnomic policy conference in St. Louis

 

 

 

 

 

13:00

 

Evans speaks on the economic outlook at Marian University

 

 

 

 

 

 

 

 

 

 

 

 

 
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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