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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Wednesday, April 08, 2009

Futures Trading levels and Economic reports for April 9th

 
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Dear Trader,
 
Market still in a range. The longer markets consolidate in general, the bigger the move that follows. I wish I knew the direction of the move.....using a breakout strategy may be the way to go if you are a swing trader.
 
The bands right now are 803 to 844 with 811 and 825 playing a significant rule during the day session.
 
LEVELS:
 
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 841.67 1338.33 7993 462.30
Resistance 2 833.33 1322.17 7917 451.70
Resistance 1 827.67 1310.33 7853 445.60
Pivot 819.33 1294.17 7777 435.00
Support 1 813.67 1282.33 7713 428.90
Support 2 805.33 1266.17 7637 418.30
Support 3 799.67 1254.33 7573 412.20
         
Contract  June Gold June Euro May Crude Oil June Bonds 
Resistance 3 901.77            1.3486 55.69 129 11/32
Resistance 2 896.73            1.3396 53.49 128 20/32
Resistance 1 889.27            1.3326 51.76 128  3/32
Pivot 884.23            1.3236 49.56 127 13/32
Support 1 876.77            1.3166 47.83 126 28/32
Support 2 871.73            1.3076 45.63 126  5/32
Support 3 864.27            1.3006 43.90 125 20/32
 
REPORTS (EST): Provided by www.TradeTheNews.com
 

Thursday, April 09, 2009


Economic
7:00am BoE rate decision
8:30am Feb Trade Balance (last -$36B), March Import Price Index (last m/m -0.2%, y/y -12.8%), Initial Jobless Claims (last 669K), Continuing Claims (last 5.728M)
10:30am Natural Gas Inventories
Events
Recommended bond market early close. 9:00am Fed's Stern speaks in South Dakota. 1:00pm Fed's Hoenig speaks on US economy in Oklahoma. Same-store sales before the open. Trades Ex-dividend: TEL $0.16, ETH $0.10.
Earnings
Before the Open: FCSX, MTRX, MOV. After the Close: CBK, EXM.
 
 
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 1:11 PM

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