In this post:
1. Market Commentary
2. Support and Resistance Levels
3. December Mini S&P 500 Continuous Futures chart
4. Economic Reports
1. Market Commentary
FRONT MONTH FOR EQUITIES AND BONDS IS DECEMBER
SYMBOL FOR DECEMBER IS Z
When looking at the pit SP 500 ( or what some call the “big SP” as each point is $250 or one big SP = 5 emini sp….) what we see is plenty of GAPS.
These GAPS are a result of overnight moves ( the PIT SP follows the cash stock index of SP500, which is the underlying asset for the future contracts. It is one of the reasons that GAPS on the SP are watched by certain traders and there is a saying ” all GAPS get filled” and if I may add, the question is really when….
Below is an SP500, pit session, hourly chart for your review. I marked the few gaps we had recently with circles. The diamonds that appear are my condition/ ALGO that I have programmed and in this case, the red diamond alerts me for a potential sell for the night session/ early trading tomorrow.
GOOD TRADING!
2. SUPPORT AND RESISTANCE LEVELS!
| Contract (Sept. 2011) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1192.50 | 2295.33 | 11347 | 719.53 |
| Resistance 2 | 1181.25 | 2257.67 | 11206 | 704.57 |
| Resistance 1 | 1173.50 | 2236.83 | 11116 | 695.73 |
| Pivot | 1162.25 | 2199.17 | 10975 | 680.77 |
| Support 1 | 1154.50 | 2178.33 | 10885 | 671.93 |
| Support 2 | 1143.25 | 2140.67 | 10744 | 656.97 |
| Support 3 | 1135.50 | 2119.83 | 10654 | 648.13 |
| Contract | Dec. Gold | Sept. Euro | Oct. Crude Oil | Dec. Bonds |
| Resistance 3 | 1866.7 | 1.3947 | 93.71 | 142 4/32 |
| Resistance 2 | 1851.3 | 1.3842 | 92.12 | 141 21/32 |
| Resistance 1 | 1844.3 | 1.3765 | 91.00 | 140 29/32 |
| Pivot | 1828.9 | 1.3660 | 89.41 | 140 14/32 |
| Support 1 | 1821.9 | 1.3583 | 88.29 | 139 22/32 |
| Support 2 | 1806.5 | 1.3478 | 86.70 | 139 7/32 |
| Support 3 | 1799.5 | 1.3401 | 85.58 | 138 15/32 |
3. S&P 500 Pit Session Chart from September 13th, 2011
Would you like to have access to my DIAMOND ALGO as shown above and be able to apply for any market and any time frame?
If so, please send me an email with the following information:
- Are you currently trading futures?
- Charting software you use?
- If you use sierra or ATcharts, please let me know the user name so I can enable you.
- Markets you currently trade.
4. Economic Reports Wednesday August 14th, 2011
Core Retail Sales m/m
8:30am USD
PPI m/m
8:30am USD
Retail Sales m/m
8:30am USD
Core PPI m/m
8:30am USD
Treasury Sec Geithner Speaks
8:30am USD
Business Inventories m/m
10:00am USD
Crude Oil Inventories
10:30am USD
Economics Report Source: http://www.forexfactory.com/calendar.php