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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Monday, April 13, 2009

Futures Trading levels and Economic reports for Apr 14th

 
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Dear Trader,
 

Market opened lower, tested support at 842 and never looked back.

 

If the action we had on both Thursday and today was done during "normal trading days" and not during what I call "Holiday Mode", I would say that it is quite bullish. However, because the rally took place during the day before and after Easter on light volume, I will need to see some proof coming up the rest of this week when more volume comes back into the market.

Some important economic reports are due the rest of the week along with option expiration day on Friday.

Some levels to watch for are: 861, 873 on the way up. 848, 839 and 823 on the way down.

 

Good Trading!

 
LEVELS:
 
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 884.23 1371.00 8232 485.47
Resistance 2 872.77 1357.50 8146 477.13
Resistance 1 864.63 1348.00 8083 471.97
Pivot 853.17 1334.50 7997 463.63
Support 1 845.03 1325.00 7934 458.47
Support 2 833.57 1311.50 7848 450.13
Support 3 825.43 1302.00 7785 444.97
         
Contract  June Gold June Euro May Crude Oil June Bonds 
Resistance 3 921.33            1.3734 55.08 129 22/32
Resistance 2 911.27            1.3562 53.62 128 18/32
Resistance 1 903.03            1.3467 51.77 127 27/32
Pivot 892.97            1.3295 50.31 126 23/32
Support 1 884.73            1.3200 48.46 126     
Support 2 874.67            1.3028 47.00 124 28/32
Support 3 866.43            1.2933 45.15 124  5/32
 
REPORTS (EST): Provided by www.TradeTheNews.com
 

Tuesday, April 14, 2009


Economic
8:30am March PPI (last m/m 0.1%, y/y -1.3%, ex food & energy last m/m 0.2%, y/y 4.0%), March Advance retail sales (last 0.1%, ex autos last 0.7%)
10:00am Feb Business Inventories (last -1.1%)
10:30am Fed coupon purchase
4:30pm API Crude Oil/Gasoline/Distillate Inventories
Events
10:30am Fed's Evans speaks on risk management for banks. 4:45pm Fed's Stern speaks on risk management for banks. ICSC/UBSW Chain Store Sales (7:45, last 0.6%). Redbook Retail Sales (8:55, last 0.4%). ABC Consumer Confidence (last -50). AGL Analyst Meeting. SY Shareholders Meeting. Trades Ex-dividend: BBY $0.14, EOG $0.145, RRD $0.26, NPD $0.33, MGRC $0.22, KWR $0.23.
Earnings
Before the Open: CBSH, FAST, GS, JNJ, GWW. After the Close: ADTN, CSX, HCSG, STX, INTC.
 
 
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 12:58 PM

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