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In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports
FRONT MONTH FOR EQUITIES IS DECEMBER. THE SEPTEMBER MINI SP ( AND OTHER MINIS WILL STOP TRADING TOMORROW MORNING!! ALSO CURRENCIES WILL ROLLOVER TO DECEMBER TOMORROW. PAY ATTENTION AS DELIVERIES AND MISTAKES CAN BE QUITE COSTLY.
SYMBOL FOR DECEMBER IS Z
As far as price direction, I am still not sure how to attack this market (outside of quick day-trades which I review live). We are against some resistance levels on the daily chart and I am curious to see the market reaction as the September contract is few hours from expiration.
When in doubt, it’s best to stay out, even more so in trading. I think that many successful traders will agree that the trades you DON’T take are probably more important than the ones you do.
GOOD TRADING!
| Contract (Sept. 2011) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1233.67 | 2348.50 | 11720 | 735.40 |
| Resistance 2 | 1219.58 | 2317.50 | 11550 | 723.50 |
| Resistance 1 | 1212.17 | 2301.25 | 11463 | 717.10 |
| Pivot | 1198.08 | 2270.25 | 11293 | 705.20 |
| Support 1 | 1190.67 | 2254.00 | 11206 | 698.80 |
| Support 2 | 1176.58 | 2223.00 | 11036 | 686.90 |
| Support 3 | 1169.17 | 2206.75 | 10949 | 680.50 |
| Contract | Dec. Gold | Sept. Euro | Oct. Crude Oil | Dec. Bonds |
| Resistance 3 | 1834.9 | 1.4221 | 92.40 | 141 23/32 |
| Resistance 2 | 1819.9 | 1.4079 | 91.27 | 141 |
| Resistance 1 | 1804.9 | 1.3986 | 90.26 | 140 4/32 |
| Pivot | 1789.9 | 1.3844 | 89.13 | 139 13/32 |
| Support 1 | 1774.9 | 1.3751 | 88.12 | 138 17/32 |
| Support 2 | 1759.9 | 1.3609 | 86.99 | 137 26/32 |
| Support 3 | 1744.9 | 1.3516 | 85.98 | 136 30/32 |
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
TIC Long-Term Purchases
9:00am USD
Prelim UoM Consumer Sentiment
9:55am USD
Prelim UoM Inflation Expectations
9:55am USD
Economics Report Source: http://www.forexfactory.com/calendar.php
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