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

Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, November 05, 2008

Futures Trading levels and Economic reports for Nov. 6th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Initial reaction of stock indices to election results was negative. Todays decline came to a rest (for now) at a support / 50% level (see 60 min chart below).
 
Market needs to hold the 903-919 band to prevent us from testing the lows made back on Oct. 27th.
 
A break above 1007, yesterdays high, may open the door for a run up to 1060-1100 levels.
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1038.17 1453.33 9850 571.70
Resistance 2 1018.83 1421.17 9690 559.10
Resistance 1 986.17 1360.58 9410 536.50
Pivot 966.83 1328.42 9250 523.90
Support 1 934.17 1267.83 8970 501.30
Support 2 914.83 1235.67 8810 488.70
Support 3 882.17 1175.08 8530 466.10
         
Contract  Dec Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 795.53            1.3403 74.35 120 14/32
Resistance 2 782.77            1.3250 72.40 118 29/32
Resistance 1 761.23            1.3078 68.89 118  2/32
Pivot 748.47            1.2925 66.94 116 17/32
Support 1 726.93            1.2753 63.43 115 22/32
Support 2 714.17            1.2600 61.48 114  5/32
Support 3 692.63            1.2428 57.97 113 10/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

11/6

7:30

3Q P

Nonfarm Productivity

- -

1.30%

- -

4.30%

THU

7:30

3Q P

Unit Labor Costs

- -

2.60%

- -

-0.50%

 

7:30

11/1

Initial Jobless Claims

- -

- -

- -

- -

 

7:30

10/25

Continuing Claims

- -

- -

- -

- -

 

 

OCT

ICSC Chain Store Sales YoY

- -

- -

- -

1.00%

 

 

 

 

 

 

 

 
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 1:27 PM

0 Comments:

Post a Comment

<< Home