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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, November 17, 2008

Futures Trading levels and Economic reports for Nov 18th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Choppy action with market closing on lower end of trading range.
 
Watch 847 and 835 if we break lower.
 
Any rally attempt will need to clear 868 and todays high at 881.75 to generate more momentum.
 
Good Trading!
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 907.17 1235.42 8773 483.23
Resistance 2 894.43 1212.08 8662 473.77
Resistance 1 872.97 1185.92 8463 461.63
Pivot 860.23 1162.58 8352 452.17
Support 1 838.77 1136.42 8153 440.03
Support 2 826.03 1113.08 8042 430.57
Support 3 804.57 1086.92 7843 418.43
         
Contract  Dec Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 764.90            1.2977 62.01 121  2/32
Resistance 2 756.80            1.2852 60.50 120 11/32
Resistance 1 745.80            1.2745 57.75 119 22/32
Pivot 737.70            1.2620 56.24 119     
Support 1 726.70            1.2513 53.49 118 11/32
Support 2 718.60            1.2388 51.98 117 20/32
Support 3 707.60            1.2281 49.23 116 31/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

 

1/18

7:30

OCT

Producer Price Index (MoM)

- -

-1.50%

- -

-0.40%

TUE

7:30

OCT

PPI Ex Food & Energy (MoM)

- -

0.20%

- -

0.40%

 

7:30

OCT

Producer Price Index (YoY)

- -

5.40%

- -

- -

 

7:30

OCT

PPI Ex Food & Energy (YoY)

- -

- -

- -

4.00%

 

8:00

SEP

Net Long-term TIC Flows

- -

- -

- -

$14.0B

 

8:00

SEP

Total Net TIC Flows

- -

- -

- -

-$0.4B

 

12:00

NOV

NAHB Housing Market Index

- -

14

- -

14

 

16:00

11/16/2008

ABC Consumer Confidence

- -

- -

- -

- -

 
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 1:10 PM

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