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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Thursday, November 13, 2008

Futures Trading levels and Economic reports for Nov. 14th

 
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Dear Trader,
 
Whew!! what a trading day to say the least. Almost 1000 points range on Dow futures, almost 100 points range on the SP futures.
 
 
We made new lows on SP500 with high volume, which may suggest we hit a short/medium term bottom. Time will tell but in between I suspect high volatility and wild swings between the ranges of 858 to 984 basis the DEC. SP500 futures.
 
hourly chart for your reference below:
 
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1040.47 1420.83 10087 577.70
Resistance 2 977.23 1331.67 9479 535.90
Resistance 1 943.97 1286.83 9164 514.10
Pivot 880.73 1197.67 8556 472.30
Support 1 847.47 1152.83 8241 450.50
Support 2 784.23 1063.67 7633 408.70
Support 3 750.97 1018.83 7318 386.90
         
Contract  Dec Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 783.27            1.3453 66.07 120  3/32
Resistance 2 759.03            1.3151 62.83 119 11/32
Resistance 1 746.67            1.2977 61.16 117 30/32
Pivot 722.43            1.2675 57.92 117  6/32
Support 1 710.07            1.2501 56.25 115 25/32
Support 2 685.83            1.2199 53.01 115  1/32
Support 3 673.47            1.2025 51.34 113 20/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

11/14

7:30

OCT

Import Price Index (MoM)

- -

-4.40%

-7% - -1%

-3.00%

FRI

7:30

OCT

Import Price Index (YoY)

- -

- -

- -

14.50%

 

7:30

OCT

Advance Retail Sales

- -

-2.10%

-3.2% - +1.4%

-1.20%

 

7:30

OCT

Retail Sales Less Autos

- -

-1.20%

-2.5% - +.5%

-0.60%

 

9:00

NOV P

U. of Michigan Confidence

- -

56

51.9 - 61

57.6

 

9:00

SEP

Business Inventories

- -

-0.10%

-.4% - +.3%

0.30%

 

 

 

 

 

 

 

 

 
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 1:09 PM

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