Cannon Trading Futures Blog: Daily Support and Resistance Levels
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Dear Trader,
An eventfull day expected tomorrow, the last trading day for May 2008.
Techincally, the market is in the middle of the current "band" (lower band at 1372, upper band at 1422). Which way are we heading is anyones guess, if I had to flip a coin, I would vote for another attempt to the short side first.
Good Trading!
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1426.07 | 2064.33 | 12898 | 768.63 |
| Resistance 2 | 1416.53 | 2048.67 | 12812 | 760.07 |
| Resistance 1 | 1407.37 | 2035.33 | 12721 | 752.43 |
| Pivot | 1397.83 | 2019.67 | 12635 | 743.87 |
| Support 1 | 1388.67 | 2006.33 | 12544 | 736.23 |
| Support 2 | 1379.13 | 1990.67 | 12458 | 727.67 |
| Support 3 | 1369.97 | 1977.33 | 12367 | 720.03 |
| | | | | |
| Contract | June Gold | June Euro | July Crude Oil | June Bonds |
| Resistance 3 | 927.00 | 1.5786 | 137.99 | 116 9/32 |
| Resistance 2 | 915.10 | 1.5719 | 135.56 | 115 19/32 |
| Resistance 1 | 895.90 | 1.5607 | 130.98 | 114 24/32 |
| Pivot | 884.00 | 1.5540 | 128.55 | 114 2/32 |
| Support 1 | 864.80 | 1.5428 | 123.97 | 113 8/32 |
| Support 2 | 852.90 | 1.5361 | 121.54 | 112 18/32 |
| Support 3 | 833.70 | 1.5249 | 116.96 | 111 23/32 |
REPORTS (EST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 5/30 | 7:30 | APR | Personal Income | - - | 0.20% | -.4% - +.5% | 0.30% |
| FRI | 7:30 | APR | Personal Spending | - - | 0.20% | 0% - 0.5% | 0.40% |
| | 7:30 | APR | PCE Deflator (YoY) | - - | 3.10% | - - | 3.20% |
| | 7:30 | APR | PCE Core (MoM) | - - | 0.10% | - - | 0.20% |
| | 7:30 | APR | PCE Core (YoY) | - - | 2.10% | - - | 2.10% |
| | 8:45 | MAY | Chicago Purchasing Manager | - - | 48.5 | 44.3 - 52.0 | 48.3 |
| | 9:00 | MAY F | U. of Michigan Confidence | - - | 59.5 | 50 - 62 | 59.5 |
| | 9:00 | MAY | NAPM-Milwaukee | - - | - - | - - | 48 |
| | 10:45 | | Former fed Chairman Greenspan speaks on policy | | | | |
| | 11:30 | | Boston Fed Pres Rosengren speaks in Boston | | | | |
| | | | | | | | |
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 | 1411.83 | 2040.00 | 12765 | 750.83 |
| Resistance 2 | 1402.17 | 2024.00 | 12690 | 745.07 |
| Resistance 1 | 1397.13 | 2015.00 | 12643 | 741.63 |
| Pivot | 1387.47 | 1999.00 | 12568 | 735.87 |
| Support 1 | 1382.43 | 1990.00 | 12521 | 732.43 |
| Support 2 | 1372.77 | 1974.00 | 12446 | 726.67 |
| Support 3 | 1367.73 | 1965.00 | 12399 | 723.23 |
| | | | | |
| Contract | June Gold | June Euro | July Crude Oil | June Bonds |
| Resistance 3 | 932.40 | 1.5872 | 138.55 | 116 26/32 |
| Resistance 2 | 920.80 | 1.5810 | 135.07 | 116 11/32 |
| Resistance 1 | 911.50 | 1.5720 | 132.93 | 115 14/32 |
| Pivot | 899.90 | 1.5658 | 129.45 | 114 31/32 |
| Support 1 | 890.60 | 1.5568 | 127.31 | 114 2/32 |
| Support 2 | 879.00 | 1.5506 | 123.83 | 113 19/32 |
| Support 3 | 869.70 | 1.5416 | 121.69 | 112 22/32 |
REPORTS (EST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 5/29 | 7:30 | 1Q P | GDP QoQ (Annualized) | - - | 0.90% | - - | 0.60% |
| THU | 7:30 | 1Q P | Personal Consumption | - - | 1.00% | - - | 1.00% |
| | 7:30 | 1Q P | GDP Price Index | - - | 2.60% | - - | 2.60% |
| | 7:30 | 1Q P | Core PCE QoQ | - - | 2.20% | - - | 2.20% |
| | 7:30 | 24-May | Initial Jobless Claims | - - | 370K | - - | 365K |
| | 7:30 | 17-May | Continuing Claims | - - | 3080K | - - | 3073K |
| | 8:00 | | NY Pres Geithner delivers opening remarks at the NY Fed's Role of Money Markets Conference | | | | |
| | 9:00 | APR | Help Wanted Index | - - | 19 | - - | 19 |
| | 12:00 | | Treasury will auction 5-yr notes | | | | |
| | 13:00 | | TSLF auction | | | | |
| | 13:30 | | Fed Chairman Bernanke will speak on "Risk Transfer Mechanisms and Financial Stability" | | | | |
| | 18:00 | | Fed VP Kohn speaks at the NY Fed on the Fed's role in the money markets | | | | |
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,
Market started this short trading week with a small rally or perhaps breather from last week sell off. We have 3 trading days left in May and they are packed of different economic reports. Good trading!
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1406.30 | 2041.33 | 12743 | 752.63 |
| Resistance 2 | 1396.90 | 2019.67 | 12658 | 743.97 |
| Resistance 1 | 1391.80 | 2008.33 | 12609 | 738.93 |
| Pivot | 1382.40 | 1986.67 | 12524 | 730.27 |
| Support 1 | 1377.30 | 1975.33 | 12475 | 725.23 |
| Support 2 | 1367.90 | 1953.67 | 12390 | 716.57 |
| Support 3 | 1362.80 | 1942.33 | 12341 | 711.53 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 949.93 | 1.5889 | 137.56 | 117 19/32 |
| Resistance 2 | 940.27 | 1.5846 | 135.61 | 117 5/32 |
| Resistance 1 | 922.63 | 1.5765 | 132.09 | 116 12/32 |
| Pivot | 912.97 | 1.5722 | 130.14 | 115 30/32 |
| Support 1 | 895.33 | 1.5641 | 126.62 | 115 6/32 |
| Support 2 | 885.67 | 1.5598 | 124.67 | 114 24/32 |
| Support 3 | 868.03 | 1.5517 | 121.15 | 113 31/32 |
REPORTS (EST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 5/28 | 6:00 | 23-May | MBA Mortgage Applications | - - | - - | - - | -7.80% |
| WED | 7:30 | APR | Durable Goods Orders | - - | -1.50% | -4% - +1% | -0.30% |
| | 7:30 | APR | Durables Ex Transportation | - - | -0.50% | - - | 0.90% |
| | 11:50 | | Minneapolis Fed Pres Stern speaks about regional, national and world economy | | | | |
| | 12:00 | | Treasury to auction 2-yr notes | | | | |
| | 20:00 | | Dallas Fed Pres Fisher speaks on inflation and debt | | | | |
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,
Few housing numbers tomorrow before market participants take off for the long Memorial day weekend.
Stock indices will observe normal trading hours tomorrow but will be closed Monday.
Good Trading and enjoy the long weekend.
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1407.50 | 2003.17 | 12737 | 744.58 |
| Resistance 2 | 1403.50 | 1992.33 | 12704 | 740.67 |
| Resistance 1 | 1398.50 | 1979.67 | 12660 | 736.83 |
| Pivot | 1394.50 | 1968.83 | 12627 | 732.92 |
| Support 1 | 1389.50 | 1956.17 | 12583 | 729.08 |
| Support 2 | 1385.50 | 1945.33 | 12550 | 725.17 |
| Support 3 | 1380.50 | 1932.67 | 12506 | 721.33 |
| | | | | |
| Contract | June Gold | June Euro | July Crude Oil | June Bonds |
| Resistance 3 | 950.40 | 1.5889 | 138.7833 | 118 30/32 |
| Resistance 2 | 942.90 | 1.5843 | 136.9367 | 118 4/32 |
| Resistance 1 | 932.10 | 1.5768 | 133.7633 | 117 |
| Pivot | 924.60 | 1.5722 | 131.9167 | 116 6/32 |
| Support 1 | 913.80 | 1.5647 | 128.7433 | 115 2/32 |
| Support 2 | 906.30 | 1.5601 | 126.8967 | 114 8/32 |
| Support 3 | 895.50 | 1.5526 | 123.7233 | 113 4/32 |
REPORTS (EST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 5/23 | 9:00 | APR | Existing Home Sales | - - | 4.85M | - - | 4.93M |
| FRI | 9:00 | APR | Existing Home Sales MoM | - - | -1.60% | - - | -2.00% |
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.
*To be removed, please reply with remove daytrading in subject line
Dear Trader,
Strong sell off today, accelerated by FOMC minutes which suggested there won't be any additional rate cuts in the near future.
The SP500 daily chart below, shows that today was the first close below the trend line and that the next levels on the way down are 1370.50, 1349.50 and 1328.50.
If the market bounces, it will have some resistance at 1407.
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1441.83 | 2066.33 | 13109 | 759.67 |
| Resistance 2 | 1430.67 | 2042.67 | 12994 | 751.53 |
| Resistance 1 | 1410.83 | 2001.33 | 12800 | 739.37 |
| Pivot | 1399.67 | 1977.67 | 12685 | 731.23 |
| Support 1 | 1379.83 | 1936.33 | 12491 | 719.07 |
| Support 2 | 1368.67 | 1912.67 | 12376 | 710.93 |
| Support 3 | 1348.83 | 1871.33 | 12182 | 698.77 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 954.00 | 1.5982 | 140.72 | 118 10/32 |
| Resistance 2 | 943.50 | 1.5877 | 137.27 | 117 28/32 |
| Resistance 1 | 937.50 | 1.5821 | 135.50 | 117 15/32 |
| Pivot | 927.00 | 1.5716 | 132.05 | 117 1/32 |
| Support 1 | 921.00 | 1.5660 | 130.28 | 116 20/32 |
| Support 2 | 910.50 | 1.5555 | 126.83 | 116 6/32 |
| Support 3 | 904.50 | 1.5499 | 125.06 | 115 25/32 |
REPORTS (EST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 5/22 | 7:30 | 17-May | Initial Jobless Claims | - - | - - | - - | 371K |
| THU | 7:30 | 10-May | Continuing Claims | - - | - - | - - | 3060K |
| | 8:15 | | Fed Gov Kroszner speaks to the Conference of State Bank Supervisors' in FL | | | | |
| | 9:00 | MAR | House Price Index MoM | - - | - - | - - | 0.60% |
| | 9:00 | 1Q | House Price Index QoQ | - - | -1.00% | - - | 0.10% |
| | | | | | | | |
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,
FOMC minutes tomorrow can move the market.
Strong support at 1407, major resistance at 1441.
Good Trading!
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1435.53 | 2042.67 | 13278 | 753.87 |
| Resistance 2 | 1428.67 | 2028.33 | 13162 | 747.03 |
| Resistance 1 | 1422.73 | 2018.67 | 13006 | 742.47 |
| Pivot | 1415.87 | 2004.33 | 12890 | 735.63 |
| Support 1 | 1409.93 | 1994.67 | 12734 | 731.07 |
| Support 2 | 1403.07 | 1980.33 | 12618 | 724.23 |
| Support 3 | 1397.13 | 1970.67 | 12462 | 719.67 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 949.90 | 1.5898 | 133.12 | 118 19/32 |
| Resistance 2 | 937.00 | 1.5782 | 131.21 | 117 31/32 |
| Resistance 1 | 928.90 | 1.5713 | 130.11 | 117 19/32 |
| Pivot | 916.00 | 1.5597 | 128.20 | 117 |
| Support 1 | 907.90 | 1.5528 | 127.10 | 116 20/32 |
| Support 2 | 895.00 | 1.5412 | 125.19 | 116 |
| Support 3 | 886.90 | 1.5343 | 124.09 | 115 20/32 |
REPORTS (EST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 5/21 | 6:00 | 16-May | MBA Mortgage Applications | - - | - - | - - | 2.90% |
| WED | 13:00 | | Minutes of April 29-30 FOMC Meeting | | | | |
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,
Some inflation numbers coming out tomorrow and the market (at least in my eyes) looks a bit weak at the current levels.
Trade well!!
LEVELS:
| Contract (June 2008) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1458.37 | 2096.83 | 13050 | 740.73 |
| Resistance 2 | 1449.53 | 2075.92 | 13045 | 740.47 |
| Resistance 1 | 1439.67 | 2050.83 | 13042 | 740.23 |
| Pivot | 1430.83 | 2029.92 | 13037 | 739.97 |
| Support 1 | 1420.97 | 2004.83 | 13034 | 739.73 |
| Support 2 | 1412.13 | 1983.92 | 13029 | 739.47 |
| Support 3 | 1402.27 | 1958.83 | 13026 | 739.23 |
| | | | | |
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 926.47 | 1.5722 | 130.76 | 118 2/32 |
| Resistance 2 | 920.33 | 1.5667 | 129.26 | 117 16/32 |
| Resistance 1 | 913.07 | 1.5573 | 128.27 | 117 3/32 |
| Pivot | 906.93 | 1.5518 | 126.77 | 116 17/32 |
| Support 1 | 899.67 | 1.5424 | 125.78 | 116 4/32 |
| Support 2 | 893.53 | 1.5369 | 124.28 | 115 18/32 |
| Support 3 | 886.27 | 1.5275 | 123.29 | 115 5/32 |
REPORTS (EST): Provided by MF Global Research
| DATE | CST | PERIOD | RELEASE | MFGR | MED | RANGE | PREV |
| 5/20 | 7:30 | APR | Producer Price Index (MoM) | - - | 0.40% | -.2% - +2.6% | 1.10% |
| TUE | 7:30 | APR | PPI Ex Food & Energy (MoM) | - - | 0.20% | +.1% - +.4% | 0.20% |
| | 7:30 | APR | Producer Price Index (YoY) | - - | 6.80% | - - | 6.90% |
| | 7:30 | APR | PPI Ex Food & Energy (YoY) | - - | 2.90% | - - | 2.70% |
| | 9:00 | MAY | IBD/TIPP Economic Optimism | - - | 38 | - - | 39.2 |
| | 16:00 | 18-May | ABC Consumer Confidence | - - | - - | - - | -47 |
| |
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 | 1443.73 | 2074.67 | 13182 | 762.13 |
| Resistance 2 | 1435.77 |
