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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Friday, October 17, 2008

Futures Trading levels and Economic reports for Oct. 20th

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

Bearish close on today's option expiration day. In today's environment, does not mean much and anyone's guess is good, as far as what the market will do Sunday night or Monday.

 

Main factor that can help you as a day trader is if you can get a "feel" for the type of trading day the market is having.

 

Is this going to be one of the crazy days like we have seen more than a few times over the past few weeks? (days like that are more suitable for 'quick momentum" plays)

 

Is it going to be one of those strong trending days?

 

There are a few main "type of trading days" and there are different trading approaches suitable for the different day-trading environments we have.

 

So as you start each day, try to assess what the night market do and if you can get a feel for the type of trading day ahead of you.

 

 

 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1043.83 1456.33 9673 582.80
Resistance 2 1015.67 1414.67 9477 568.40
Resistance 1 974.83 1364.33 9113 542.00
Pivot 946.67 1322.67 8917 527.60
Support 1 905.83 1272.33 8553 501.20
Support 2 877.67 1230.67 8357 486.80
Support 3 836.83 1180.33 7993 460.40
         
Contract  Dec Gold Dec. Euro Nov. Crude Oil Dec. Bonds 
Resistance 3 856.50            1.3618 78.67 116  9/32
Resistance 2 836.70            1.3565 76.47 115 15/32
Resistance 1 811.80            1.3485 74.24 114  6/32
Pivot 792.00            1.3432 72.04 113 12/32
Support 1 767.10            1.3352 69.81 112  3/32
Support 2 747.30            1.3299 67.61 111  9/32
Support 3 722.40            1.3219 65.38 110     
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

10/20

9:00

SEP

Leading Indicators

- -

-0.20%

- -

-0.50%

MON

9:00

 

Fed to auction $150 in TAF credit

 

 

 

 

 

11:45

 

Lockhart to speak on economic outlook at Rotary club in GA

 

 

 

 

 

 

 

 

 

 

 

 

 
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 1:30 PM

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