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Cannon Trading Futures Blog: Daily Support and Resistance Levels

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Friday, November 28, 2008

Futures Trading levels and Economic reports for Dec. 1st

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Hope everyone will have a nice weekend and a great trading month in December!
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 915.67 1224.83 9030 517.47
Resistance 2 905.83 1212.17 8925 503.73
Resistance 1 900.17 1196.58 8870 487.57
Pivot 890.33 1183.92 8765 473.83
Support 1 884.67 1168.33 8710 457.67
Support 2 874.83 1155.67 8605 443.93
Support 3 869.17 1140.08 8550 427.77
         
Contract  Dec Gold Dec. Euro Jan. Crude Oil Dec. Bonds 
Resistance 3 835.03            1.3200 57.50 129  3/32
Resistance 2 828.17            1.3077 55.83 128 16/32
Resistance 1 824.33            1.2886 54.47 128  2/32
Pivot 817.47            1.2763 52.80 127 15/32
Support 1 813.63            1.2572 51.44 127  1/32
Support 2 806.77            1.2449 49.77 126 14/32
Support 3 802.93            1.2258 48.41 126     
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

12/1

9:00

NOV

ISM Manufacturing

- -

- -

- -

38.9

MON

9:00

NOV

ISM Prices Paid

- -

- -

- -

37

 

9:00

OCT

Construction Spending MoM

- -

- -

- -

-0.30%

 

 

NOV

Domestic Vehicle Sales

- -

- -

- -

7.9M

 

 

 

 

 

 

 

 
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 10:23 AM 0 comments

Wednesday, November 26, 2008

Futures Trading levels and Economic reports for Friday Nov. 28th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Happy Thanksgiving.
 
Markets are closed tomorrow for main trading session and will have an early close Friday ( 12:15 central for e-minis).
 
make sure you check trading hours with your broker and enjoy the holiday with your loved ones.
 
 
 
LEVELS:
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 952.67 1287.33 9263 527.20
Resistance 2 919.83 1240.42 8987 498.20
Resistance 1 903.17 1215.83 8843 482.50
Pivot 870.33 1168.92 8567 453.50
Support 1 853.67 1144.33 8423 437.80
Support 2 820.83 1097.42 8147 408.80
Support 3 804.17 1072.83 8003 393.10
         
Contract  Dec Gold Dec. Euro Jan. Crude Oil Dec. Bonds 
Resistance 3 837.60            1.3277 61.30 130 14/32
Resistance 2 829.80            1.3167 58.14 129 20/32
Resistance 1 822.40            1.3032 56.48 128 22/32
Pivot 814.60            1.2922 53.32 127 28/32
Support 1 807.20            1.2787 51.66 126 29/32
Support 2 799.40            1.2677 48.50 126  3/32
Support 3 792.00            1.2542 46.84 125  5/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

None Friday
 
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 1:04 PM 0 comments

Tuesday, November 25, 2008

Futures Trading levels and Economic reports for Nov. 26th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Busy day tomorrow, full of reports before many traders head into an extended Thanksgiving holiday/weekend.
 
Markets are open normal times tomorrow, closed Thursday and will have short trading hours on Friday.
 
 
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 907.67 1222.75 8925 469.47
Resistance 2 888.83 1198.50 8759 458.03
Resistance 1 871.17 1166.25 8602 447.77
Pivot 852.33 1142.00 8436 436.33
Support 1 834.67 1109.75 8279 426.07
Support 2 815.83 1085.50 8113 414.63
Support 3 798.17 1053.25 7956 404.37
         
Contract  Dec Gold Dec. Euro Jan. Crude Oil Dec. Bonds 
Resistance 3 866.23            1.3433 57.64 133     
Resistance 2 849.87            1.3255 56.15 130 20/32
Resistance 1 835.73            1.3154 53.50 129 10/32
Pivot 819.37            1.2976 52.01 126 30/32
Support 1 805.23            1.2875 49.36 125 20/32
Support 2 788.87            1.2697 47.87 123  8/32
Support 3 774.73            1.2596 45.22 121 30/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

11/26

6:00

11/21/2008

MBA Mortgage Applications

- -

- -

- -

- -

WED

7:30

OCT

Personal Income

- -

- -

- -

0.20%

 

7:30

OCT

PCE Deflator (YoY)

- -

- -

- -

4.20%

 

7:30

OCT

Durable Goods Orders

- -

- -

- -

0.80%

 

7:30

OCT

Personal Spending

- -

- -

- -

-0.30%

 

7:30

OCT

Durables Ex Transportation

- -

- -

- -

-1.10%

 

7:30

OCT

PCE Core (MoM)

- -

- -

- -

0.20%

 

7:30

OCT

PCE Core (YoY)

- -

- -

- -

2.40%

 

7:30

11/22/2008

Initial Jobless Claims

- -

- -

- -

- -

 

7:30

11/15/2008

Continuing Claims

- -

- -

- -

- -

 

8:45

NOV

Chicago Purchasing Manager

- -

- -

- -

37.8

 

9:00

NOV F

U. of Michigan Confidence

- -

- -

- -

- -

 

9:00

OCT

New Home Sales

- -

- -

- -

464K

 

9:00

OCT

New Home Sales MoM

- -

- -

- -

2.70%

 
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 1:20 PM 0 comments

Monday, November 24, 2008

Futures Trading levels and Economic reports for Nov. 25th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
872.50 is the 50% retracement from the high of 1006 on Nov. 4th to the low made this past friday at 739.
 
If this rally is more than just a short covering bounce, we will need to see the market close above this level. If it does on an hourly basis, I would favor the long side with 925-950 initial targets.
 
If the market is able to close below 725 (on a 60 minute chart) on its way down, I would favor the short side again.
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 932.00 1275.33 9105 491.40
Resistance 2 899.00 1219.67 8845 465.20
Resistance 1 874.00 1183.58 8615 449.00
Pivot 841.00 1127.92 8355 422.80
Support 1 816.00 1091.83 8125 406.60
Support 2 783.00 1036.17 7865 380.40
Support 3 758.00 1000.08 7635 364.20
         
Contract  Dec Gold Dec. Euro Jan. Crude Oil Dec. Bonds 
Resistance 3 883.03            1.3401 63.37 128  5/32
Resistance 2 856.57            1.3163 59.34 127 10/32
Resistance 1 839.13            1.3034 56.87 125 30/32
Pivot 812.67            1.2796 52.84 125  3/32
Support 1 795.23            1.2667 50.37 123 23/32
Support 2 768.77            1.2429 46.34 122 28/32
Support 3 751.33            1.2300 43.87 121 16/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

11/25

7:30

3Q P

GDP QoQ (Annualized)

- -

- -

- -

-0.30%

TUE

7:30

3Q P

Personal Consumption

- -

- -

- -

-3.10%

 

7:30

3Q P

GDP Price Index

- -

- -

- -

4.20%

 

7:30

3Q P

Core PCE QoQ

- -

- -

- -

2.90%

 

8:00

SEP

S&P/CaseShiller Home Price Ind

- -

- -

- -

164.6

 

8:00

SEP

S&P/CS Composite-20 YoY

- -

- -

- -

-16.60%

 

8:00

3Q

S&P/Case-Shiller US HPI

- -

- -

- -

155.3

 

8:00

3Q

S&P/Case-Shiller US HPI YOY%

- -

- -

- -

-0.154

 

9:00

NOV

Consumer Confidence

- -

- -

- -

38

 

9:00

NOV

Richmond Fed Manufact. Index

- -

- -

- -

-26

 

9:00

SEP

House Price Index MoM

- -

- -

- -

-0.60%

 

9:00

3Q

House Price Purchase Index QoQ

- -

- -

- -

-1.40%

 

16:00

11/23/2008

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 1:15 PM 0 comments

Friday, November 21, 2008

Futures Trading levels and Economic reports for Nov. 24th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
What a trading day!!
 
Classic, volatile, option expiration day with more than 600 range on the Dow Jones.
 
My overall feeling is that we are due for a bounce, not sure how strong and how long it will last and we will trade and analyze day by day.....
 
Next week we have 3 days packed of reports before we head into Thanksgiving holiday, so expect more action like we seen yesterday and today to continue.
 
Hourly chart with major levels to watch below.
 
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 880.17 1192.00 8889 455.00
Resistance 2 841.33 1142.50 8482 431.00
Resistance 1 816.67 1116.75 8259 417.20
Pivot 777.83 1067.25 7852 393.20
Support 1 753.17 1041.50 7629 379.40
Support 2 714.33 992.00 7222 355.40
Support 3 689.67 966.25 6999 341.60
         
Contract  Dec Gold Dec. Euro Jan. Crude Oil Dec. Bonds 
Resistance 3 881.20            1.2883 54.47 131 21/32
Resistance 2 842.00            1.2757 52.79 130  1/32
Resistance 1 820.90            1.2668 51.60 128  1/32
Pivot 781.70            1.2542 49.92 126 12/32
Support 1 760.60            1.2453 48.73 124 12/32
Support 2 721.40            1.2327 47.05 122 24/32
Support 3 700.30            1.2238 45.86 120 24/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

11/24

9:00

OCT

Existing Home Sales

- -

- -

- -

5.18M

MON

9:00

OCT

Existing Home Sales MoM

- -

- -

- -

5.50%

 

 

 

 

 

 

 

 

 
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 1:36 PM 0 comments

Thursday, November 20, 2008

Futures Trading levels and Economic reports for Nov. 21st

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
New lows on more than 4.4 MIL e-minis volume.
 
727 is the next projected support and with Nov. options expiration day tomorrow, I expect another volatile, crazy day.
 
What ever it is, even if you had a bad trading day, make sure you survive to trade another day and DO NOT risk your whole account on one single trading day!!! 
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 873.00 1180.50 8652 442.57
Resistance 2 846.50 1147.75 8413 430.13
Resistance 1 798.00 1096.75 7977 406.57
Pivot 771.50 1064.00 7738 394.13
Support 1 723.00 1013.00 7302 370.57
Support 2 696.50 980.25 7063 358.13
Support 3 648.00 929.25 6627 334.57
         
Contract  Dec Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 776.33            1.2690 57.31 134 12/32
Resistance 2 764.87            1.2637 55.56 131  1/32
Resistance 1 755.53            1.2549 52.14 129  8/32
Pivot 744.07            1.2496 50.39 125 29/32
Support 1 734.73            1.2408 46.97 124  5/32
Support 2 723.27            1.2355 45.22 120 26/32
Support 3 713.93            1.2267 41.80 119  1/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

 
NONE Friday.
 
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 1:07 PM 0 comments

Wednesday, November 19, 2008

Futures Trading levels and Economic reports for Nov. 20th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Market failed once more in making any significant rally attempts.
 
Break below 800 can trigger 765 but it seems like we are getting a bit oversold.
 
Good trading!
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 907.17 1232.00 8835 484.23
Resistance 2 885.83 1202.00 8660 469.27
Resistance 1 847.17 1142.75 8325 439.93
Pivot 825.83 1112.75 8150 424.97
Support 1 787.17 1053.50 7815 395.63
Support 2 765.83 1023.50 7640 380.67
Support 3 727.17 964.25 7305 351.33
         
Contract  Dec Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 788.93            1.2999 57.29 125 31/32
Resistance 2 776.87            1.2899 56.52 124 12/32
Resistance 1 755.53            1.2703 54.99 123 15/32
Pivot 743.47            1.2603 54.22 121 28/32
Support 1 722.13            1.2407 52.69 121     
Support 2 710.07            1.2307 51.92 119 13/32
Support 3 688.73            1.2111 50.39 118 16/32
 
REPORTS (CST): Provided by MF Global Research
 

DATE

CST

PERIOD

RELEASE

MFGR

MED

RANGE

PREV

11/20

7:30

11/15/2008

Initial Jobless Claims

- -

- -

- -

- -

THU

7:30

11/8/2008

Continuing Claims

- -

- -

- -

- -

 

9:00

NOV

Philadelphia Fed.

- -

-33.6

- -

-37.5

 

9:00

OCT

Leading Indicators

- -

-0.60%

- -

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
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* 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 0 comments

Tuesday, November 18, 2008

Futures Trading levels and Economic reports for Nov. 19th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Todays action "tried" to paint a bottoming out picture.
 
if you ask me, I am not sure this is it for now. The good news is that we should find out shortly as the market anticipates slew of economic numbers tomorrow morning. If this is a short term bottom, we should see strong follow through to the upside.
 
However , if we slide lower again and break the 816.75 lows, then I charted some possible fibonacci extensions on the daily chart below:
 
 
LEVELS:
 
Contract (Dec. 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 920.67 1248.08 9023 493.90
Resistance 2 893.33 1209.92 8757 476.20
Resistance 1 879.67 1189.33 8623 464.30
Pivot 852.33 1151.17 8357 446.60
Support 1 838.67 1130.58 8223 434.70
Support 2 811.33 1092.42 7957 417.00
Support 3 797.67 1071.83 7823 405.10
         
Contract  Dec Gold Dec. Euro Dec. Crude Oil Dec. Bonds 
Resistance 3 760.20            1.2821 57.73 122 10/32
Resistance 2 752.90            1.2754 56.86 121 12/32
Resistance 1 744.90            1.2685 55.71 120 26/32
Pivot 737.60            1.2618 54.84 119 28/32
Support 1 729.60