In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports
5. Earnings Releases
1. Market Commentary
Days like today and yesterday encourage me to repeat what I wrote yesterday:
ALWAYS EXPECT THE UNEXPECTED! When volatility skyrockets like now, moves become extreme, the speed of the market really picks up and this is when one must adjust their trading size lower to accommodate for the wilder and wider moves.
Below is an hourly chart of SP500 pit session. Notice the gaps we have from overnight moves.
I think if we can break 1132, market may have a shot at closing the gap all the way up at: 1155
GOOD TRADING!
2. SUPPORT AND RESISTANCE LEVELS!
| Contract (Sept. 2011) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1167.33 | 2346.50 | 11479 | 690.13 |
| Resistance 2 | 1151.42 | 2298.00 | 11258 | 675.47 |
| Resistance 1 | 1138.83 | 2241.50 | 10954 | 659.03 |
| Pivot | 1122.92 | 2193.00 | 10733 | 644.37 |
| Support 1 | 1110.33 | 2136.50 | 10429 | 627.93 |
| Support 2 | 1094.42 | 2088.00 | 10208 | 613.27 |
| Support 3 | 1081.83 | 2031.50 | 9904 | 596.83 |
| Contract | Dec. Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
| Resistance 3 | 1783.4 | 1.3793 | 89.01 | 148 16/32 |
| Resistance 2 | 1767.9 | 1.3694 | 87.00 | 147 16/32 |
| Resistance 1 | 1754.2 | 1.3579 | 83.67 | 146 24/32 |
| Pivot | 1738.7 | 1.3480 | 81.66 | 145 24/32 |
| Support 1 | 1725.0 | 1.3365 | 78.33 | 145 |
| Support 2 | 1709.5 | 1.3266 | 76.32 | 144 |
| Support 3 | 1695.8 | 1.3151 | 72.99 | 143 8/32 |
3. Hourly S&P 500 Pit Session Chart from September 22, 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.
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.
4. Economic Reports for Friday September 23, 2011
IMF Meetings
All Day
FOMC Member Dudley Speaks
1:30pm
Economics Report Source: http://www.forexfactory.com/calendar.php
5. Earnings Releases
| SYMBOL | COMPANY | EVENT TITLE | EPS ESTIMATE | EPS ACTUAL | PREV. YEAR ACTUAL | DATE/TIME (ET) |
| NKE | Nike Inc | Q1 2012 Nike Inc Earnings Release | $ 1.21 | n/a | $ 1.14 | 22-Sep AMC |
| FDX | Fedex Corp | FedEx Q1 FY12 Earnings Release | $ 1.47 | n/a | $ 1.20 | 22-Sep 7:30 AM |
| KMX | Carmax Inc | Q2 2012 Carmax Inc Earnings Release | $ 0.51 | n/a | $ 0.48 | 22-Sep BMO |
| DFS | Discover Financial Services | Q3 2011 Discover Financial Services Earnings Release | $ 0.93 | n/a | $ 0.47 | 22-Sep BMO |
| CTAS | Cintas Corp | Q1 2012 Cintas Corp Earnings Release | $ 0.48 | n/a | $ 0.40 | 22-Sep AMC |
| SYMX | Synthesis Energy Systems Inc | Q4 2011 Synthesis Energy Systems Inc Earnings Release | -$ 0.04 | n/a | -$ 0.08 | 22-Sep BMO |