Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1443.73 | 2074.67 | 13182 | 762.13 |
| Resistance 2 | 1435.77 | 2057.33 | 13107 | 754.27 |
| Resistance 1 | 1430.63 | 2046.67 | 13041 | 747.63 |
| Pivot | 1422.67 | 2029.33 | 12966 | 739.77 |
| Support 1 | 1417.53 | 2018.67 | 12900 | 733.13 |
| Support 2 | 1409.57 | 2001.33 | 12825 | 725.27 |
| Support 3 | 1404.43 | 1990.67 | 12759 | 718.63 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 937.80 | 1.5793 | 132.11 | 118 24/32 |
| Resistance 2 | 921.70 | 1.5687 | 129.97 | 118 3/32 |
| Resistance 1 | 912.70 | 1.5628 | 128.33 | 117 7/32 |
| Pivot | 896.60 | 1.5522 | 126.19 | 116 18/32 |
| Support 1 | 887.60 | 1.5463 | 124.55 | 115 23/32 |
| Support 2 | 871.50 | 1.5357 | 122.41 | 115 2/32 |
| Support 3 | 862.50 | 1.5298 | 120.77 | 114 6/32 |
REPORTS (EST): Provided by
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.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1449.23 | 2095.00 | 13196 | 759.00 |
| Resistance 2 | 1437.37 | 2066.50 | 13099 | 751.50 |
| Resistance 1 | 1430.93 | 2051.00 | 13052 | 747.20 |
| Pivot | 1419.07 | 2022.50 | 12955 | 739.70 |
| Support 1 | 1412.63 | 2007.00 | 12908 | 735.40 |
| Support 2 | 1400.77 | 1978.50 | 12811 | 727.90 |
| Support 3 | 1394.33 | 1963.00 | 12764 | 723.60 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 919.03 | 1.5636 | 132.87 | 118 23/32 |
| Resistance 2 | 903.77 | 1.5581 | 129.76 | 117 24/32 |
| Resistance 1 | 892.83 | 1.5507 | 126.98 | 117 7/32 |
| Pivot | 877.57 | 1.5452 | 123.87 | 116 8/32 |
| Support 1 | 866.63 | 1.5378 | 121.09 | 115 23/32 |
| Support 2 | 851.37 | 1.5323 | 117.98 | 114 24/32 |
| Support 3 | 840.43 | 1.5249 | 115.20 | 114 7/32 |
MF Global Research
U.S. Economic Calendar
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 5/16 | 7:30 | APR | Housing Starts | - - | 939K | 875K - 1000K | 947K |
| FRI | 7:30 | APR | Building Permits | - - | 915K | - - | 928K |
| | 9:00 | MAY P | U. of Michigan Confidence | - - | 62 | 58.6 - 66.4 | 62.6 |
| | 10:20 | | Sandra Braunstein, director of the Fed's division of consumer and community affairs and Chief Goldman Economist speaks as part of a panel discussion on the mortgage market | | | | |
| | | | | | | | |
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.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Todays high of 1421.50 can be considered as a "tripple high" (high May 2nd of 1424, high May 6th of 1422.50 and today), with each high being slightly lower.
The main question is if this market can break 1400 on the way down and pick up momentum or if this is just some profit taking before another attempt at breaking the 1425 zone.
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
