In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Russell 2000 Futures Chart
4. Economic Reports
1. Market Commentary
The long signal we got yesterday after the close ( which I shared on this blog yesterday afternoon) turned to be valid.
What stands in the way of more meaningful rally is this friday morning unemployment report.
If the market takes the data in a positive way, we may see 686 followed by 726 on the mini Russell daily chart below. But that’s a big if and time will tell…
By the way, you can listen to the SP500 squawk box live tomorrow and Friday ( you can login before the market open and listen to the data as it comes out live.)
The trial is open this week and will be available until market close on Oct.7th so visit: traderaudio.com to start listening now:
Username: open
Password: squawk
Daily chart of Mini Russell 2000 for your review below:
GOOD TRADING!
2. SUPPORT AND RESISTANCE LEVELS!
| Contract (Dec. 2011) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1178.50 | 2286.33 | 11208 | 686.63 |
| Resistance 2 | 1159.75 | 2234.17 | 11045 | 672.87 |
| Resistance 1 | 1147.50 | 2203.58 | 10945 | 663.03 |
| Pivot | 1128.75 | 2151.42 | 10782 | 649.27 |
| Support 1 | 1116.50 | 2120.83 | 10682 | 639.43 |
| Support 2 | 1097.75 | 2068.67 | 10519 | 625.67 |
| Support 3 | 1085.50 | 2038.08 | 10419 | 615.83 |
| Contract | Dec. Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
| Resistance 3 | 1696.6 | 1.3519 | 83.61 | 145 19/32 |
| Resistance 2 | 1672.8 | 1.3450 | 81.71 | 145 |
| Resistance 1 | 1657.0 | 1.3395 | 80.73 | 144 17/32 |
| Pivot | 1633.2 | 1.3326 | 78.83 | 143 30/32 |
| Support 1 | 1617.4 | 1.3271 | 77.85 | 143 15/32 |
| Support 2 | 1593.6 | 1.3202 | 75.95 | 142 28/32 |
| Support 3 | 1577.8 | 1.3147 | 74.97 | 142 13/32 |
3. Daily Mini Russell 2000 Futures Chart from October 5, 2011
4. Economic Reports for Thursday October 6, 2011
Unemployment Claims
8:30am
Natural Gas Storage
10:30am