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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, January 05, 2009

Futures Trading levels and Economic reports for Jan 6th

 
*To be removed, please reply with remove daytrading in subject line
 
Dear Trader,
 
Market has rallied the last few sessions, mostly on thin volume, yet the shorter term upward bias is still in tact as long as we hold above 900 level.
 
need to see the SP breaks and holds above 938 in order to see another leg up, but we may see a small correction first.
 
Make 2009 a great trading year by staying disciplined!
 
LEVELS:
 
Contract (March 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 952.73 1310.83 9110 526.37
Resistance 2 943.37 1293.42 9045 517.43
Resistance 1 934.93 1278.83 8980 511.17
Pivot 925.57 1261.42 8915 502.23
Support 1 917.13 1246.83 8850 495.97
Support 2 907.77 1229.42 8785 487.03
Support 3 899.33 1214.83 8720 480.77
         
Contract  Feb. Gold March Euro Feb. Crude Oil March Bonds 
Resistance 3 923.90            1.4232 53.73 138 27/32
Resistance 2 904.70            1.4082 51.51 137 12/32
Resistance 1 881.90            1.3813 50.01 135 11/32
Pivot 862.70            1.3663 47.79 133 27/32
Support 1 839.90            1.3394 46.29 131 26/32
Support 2 820.70            1.3244 44.07 130 11/32
Support 3 797.90            1.2975 42.57 128 10/32
 
REPORTS (EST): Provided by www.TradeTheNews.com
 

Tuesday, January 06, 2009


Economic
10:00am Dec ISM Non manufacturing (last 37.3), Nov Factory Orders (last –5.1%), Pending Home Sales m/m (last –0.7%)
1:00pm 10 year TIPS auction
2:00pm FOMC Minutes from Dec 16 meeting
3:00pm TSLF announcement
Events
ICSC/UBSW Chain Store Sales (7:45, last –1.5%). Redbook Retail Sales (8:55, last –0.9%). ABC Consumer Confidence (last -49). Trades ex-dividend: CMC $0.12, WDFC $0.25, CPO $0.14
Earnings
Before the Open: AYI, CYCL, NEOG After the Close: ANGO, FINL, GPN, LNDC, PRXI, RECN, SMSC, XRTX
 
 
Note all time are EST. 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 1:02 PM

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