Weekly Newsletters, Futures Trading Tips & Insight, Commodity Trading Educational Resources & Much More.
Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Daily Mini S&P Chart
5. Economic Reports for Wednesday November 2, 2011
DAYLIGHT SAVING ends this weekend!
International traders especially, please pay attention we are moving the clocks an hour back.
Contract (Dec. 2011) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
Resistance Level 3 | 1272.83 | 2398.00 | 12250 | 767.40 |
Resistance Level 2 | 1262.17 | 2379.00 | 12129 | 758.50 |
Resistance Level 1 | 1256.33 | 2365.00 | 12032 | 751.90 |
Pivot Point | 1245.67 | 2346.00 | 11911 | 743.00 |
Support Level 1 | 1239.83 | 2332.00 | 11814 | 736.40 |
Support Level 2 | 1229.17 | 2313.00 | 11693 | 727.50 |
Support Level 3 | 1223.33 | 2299.00 | 11596 | 720.90 |
Contract | Dec. Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
Resistance Level 3 | 1780.2 | 1.4034 | 97.35 | 143 20/32 |
Resistance Level 2 | 1772.4 | 1.3957 | 96.14 | 142 18/32 |
Resistance Level 1 | 1765.3 | 1.3863 | 95.29 | 141 25/32 |
Pivot Point | 1757.5 | 1.3786 | 94.08 | 140 23/32 |
Support Level 1 | 1750.4 | 1.3692 | 93.23 | 139 30/32 |
Support Level 2 | 1742.6 | 1.3615 | 92.02 | 138 28/32 |
Support Level 3 | 1735.5 | 1.3521 | 91.17 | 138 3/32 |
On a different note please see weekly chart of the SP500 for your review below, which also brings me to a quick tip on how I try to manage trading multiple time frames.
There are times that I will have trades that I consider swing trades or longer term trades while I still look for intra day or day trade opportunities. When that happens I will try to use different contracts. Example, lets say I think that there is a set up based on the daily chart for short position on stock indices, I may go short mini Dow but then there might be a daytrade set up for different directions in which I will use the mini SP in order not to confuse myself between my longer term set ups and my intraday set ups.
Have a great weekend!!
Sentix Investor Confidence
5:30am
Retail Sales m/m
6:00am
German Industrial Production m/m
7:00am
Consumer Credit m/m
4:00pm