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Cannon Trading Futures Blog: Daily Support and Resistance Levels

Tuesday, April 14, 2009

Futures Trading levels and Economic reports for April 15th

 
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Dear Trader,
 

Market gave up some gains and bounced slightly off the 50% retracement from the 810-861 move, right around 836.

 

LOTS of economic numbers tomorrow (in addition to the ongoing earnings reports) and that will determine if we will seee 830-820-810 levels or if the rally from last week will resume and 861 will be taken out .

 

My guess (and it is really a pure speculation on my part) is that selling pressure will prevail for the next couple of days, i.e. lower prices.

 
LEVELS:
 
Contract (June 2008)  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 866.93 1362.50 8077 478.53
Resistance 2 860.07 1349.25 8023 472.57
Resistance 1 850.03 1336.50 7957 462.53
Pivot 843.17 1323.25 7903 456.57
Support 1 833.13 1310.50 7837 446.53
Support 2 826.27 1297.25 7783 440.57
Support 3 816.23 1284.50 7717 430.53
         
Contract  June Gold June Euro May Crude Oil June Bonds 
Resistance 3 910.57            1.3509 53.05 129 29/32
Resistance 2 905.13            1.3443 52.09 128 30/32
Resistance 1 897.97            1.3353 50.78 128 11/32
Pivot 892.53            1.3287 49.82 127 12/32
Support 1 885.37            1.3197 48.51 126 25/32
Support 2 879.93            1.3131 47.55 125 26/32
Support 3 872.77            1.3041 46.24 125  7/32
 
REPORTS (EST): Provided by www.TradeTheNews.com
 

Wednesday, April 15, 2009


Economic
8:30am March CPI (last m/m 0.4%, y/y 0.2%; ex food & energy last m/m 0.2%, y/y 1.8%), March CPI Core Index SA (last 217.670), April Empire Manufacturing (last -38.23)
9:00am Feb Net Long-Term TIC Flows (last -$43B), Feb Total Net TIC Flows (last -$148.9B)
9:15am March Industrial Production (last -1.5%), March Capacity Utilization (last 70.2%)
10:30am DoE Crude Oil/Gasoline/Distillate Inventories
1:00pm April NAHB Housing Market Index (last 9)
2:00pm Fed's Beige Book
Events
10:00pm China Q1 GDP. Infocast Advanced Battery Manufacturing Conference. MBA Mortgage Applications (7:00, last 4.7%). Trades Ex-dividend: PKI $0.07, LOW $0.085, HRL $0.19, AYI $0.13.
Earnings
Before the Open: ABT, ACGY, ASML, SCHW, INFY, NITE, LUFK, MTOX, BTU, PJC, PGR, WWW. After the Close: ATR, CCK, DTLK, KMP, LSTR, LLTC, PLCM, STLY, UFPI.
 
 
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 1:22 PM

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