The Futures Trader's Destination for Over 25 Years

Open an Account
Call Us Free: 1-800-454-9572
Why Trade with Cannon?
  • USA
  • Canada
  • Mexico
  • United Kingdom
  • France
  • Italy
  • Spain
  • Germany
  • Australia
  • Netherlands
  • Romania
  • Belgium
  • Sweden
  • Czech Republic
  • Hungary
  • Switzerland
  • Austria
  • Portugal
  • Denmark
  • Greece
  • UAE
  • Israel
  • Jordan
  • Saudi Arabia
  • India
  • Argentina
  • Costa Rica
  • Peru
  • Chile
  • Brazil
  • China
  • Hong Kong
  • Japan
  • Russia
  • Thailand
  • South Korea
  • Taiwan
  • Philippines
  • Singapore
  • And Many More!
Countries We Accept Clients From | International Calls: 310-859-9572

15 Minutes mini SP Chart from Today’s Session

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. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for January 19, 2012

1. Market Commentary

Volume is getting slightly better as the holiday season/ New year/ MLK is now behind us.

I wanted to touch base very briefly on a study many people know and use FIBONACCI levels and how the sierra charts ( ATcharts) has a study called Fibonacci Auto Retracement, which will draw the levels on your chart automatically as the market makes new highs/ lows etc.

I find this useful instead of having to go and manually draw levels.

I also find these levels useful for profit targets and stops since by formula, these FIB levels as I call them take into account the range of the trading day, hence on days when ranges are wide, it will provide you possible stops and/ or targets that are wider and vice versa, when the trading day is narrow, the targets will get tighter.

Here are two screen shots on how I select the study and how it looks like on a 15 minutes mini SP chart from today’s session.

Chat Studies for ESH2 15 min

Chat Studies for ESH2 15 min

 

ESH2 15 min Chart

ESH2 15 min Chart

Notice how the FIB lines ( support / resistance levels) adjusted as market made new highs.

2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000

Contract (Dec. 2011) SP500
(big & Mini)
Nasdaq100
(big & Mini)
Dow Jones
(big & Mini)
Mini Russell
Resistance Level 3 1326.23 2463.50 12673 795.13
Resistance Level 2 1315.22 2443.75 12597 785.47
Resistance Level 1 1308.73 2431.50 12553 780.13
Pivot Point 1297.72 2411.75 12477 770.47
Support Level 1 1291.23 2399.50 12433 765.13
Support Level 2 1280.22 2379.75 12357 755.47
Support Level 3 1273.73 2367.50 12313 750.13

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract Feb. Gold Dec. Euro Jan. Crude Oil March. Bonds
Resistance Level 3 1688.2 1.3033 104.17 146 11/32
Resistance Level 2 1675.6 1.2950 103.12 145 28/32
Resistance Level 1 1667.4 1.2901 101.95 145
Pivot Point 1654.8 1.2818 100.90 144 17/32
Support Level 1 1646.6 1.2769 99.73 143 21/32
Support Level 2 1634.0 1.2686 98.68 143 6/32
Support Level 3 1625.8 1.2637 97.51 142 10/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract March Corn March Wheat Jan. Beans March. Silver
Resistance Level 3 607.3 605.2 1204.00 3162.0
Resistance Level 2 604.2 602.1 1195.50 3110.5
Resistance Level 1 598.8 597.2 1189.50 3077.0
Pivot Point 595.7 594.1 1181.00 3025.5
Support Level 1 590.3 589.2 1175.0 2992.0
Support Level 2 587.2 586.1 1166.50 2940.5
Support Level 3 581.8 581.2 1160.50 2907.0


5. Economic Reports

ECB Monthly Bulletin

4:00am

 

Building Permits

8:30am

 

Core CPI

8:30am

 

Unemployment Claims

8:30am

 

CPI

8:30am

 

Housing Starts

8:30am

 

Philly Fed Manufacturing Index

10:00am

 

Natural Gas Storage

10:30am

 

Crude Oil Inventories

11:00am

Tags: > Posted in: Commodity Trading   | Future Trading News  

Download Cannon’s new eBook, “Futures Forthright” instantly.


Quick Tip: After registering you will be emailed login information, so be sure to use an email address you have access to. If you need assistance please call us at 1-800-454-9572, a professional broker will help you through the registration process.
________
Doing Business With
See more...
Loading
Loading

Loading