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 February 3, 2012
1. Market Commentary
Hello traders,
My colleague Greg Weitzman of www.thetradingzone.com is holding a webinar tomorrow ( Saturday morning Australia time) , specifically for traders in Australia and far east as far as time zones are concerned.
Please see the invite below:
Finally a trading webinar in your time zone.
Attention AU and NZ traders, we are holding a special event trading webinar specifically tailored for traders in your time zone
Join Greg Weitzman founder and President of TheTradingZone as he details the core components of his trading methodology
Discover which markets are more suitable for day traders living in Australia and New Zeeland. Meet the moderators who run the live trading room.
Discussion will focus on the trading methods used by TheTradingZone, with a special emphasis on Market Profile, and trader psychology.
Click here to register: www.TheTradingZone.com/free-trading-webinar
There is no charge for this event
All attendees will also receive over 3 Hours of Trading Education Videos.
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 | 1333.43 | 2520.67 | 12755 | 823.63 |
| Resistance Level 2 | 1329.47 | 2511.33 | 12721 | 819.27 |
| Resistance Level 1 | 1325.73 | 2501.67 | 12690 | 814.83 |
| Pivot Point | 1321.77 | 2492.33 | 12656 | 810.47 |
| Support Level 1 | 1318.03 | 2482.67 | 12625 | 806.03 |
| Support Level 2 | 1314.07 | 2473.33 | 12591 | 801.67 |
| Support Level 3 | 1310.33 | 2463.67 | 12560 | 797.23 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | April. Gold | March Euro | Feb. Crude Oil | March. Bonds |
| Resistance Level 3 | 1790.5 | 1.3312 | 100.45 | 145 22/32 |
| Resistance Level 2 | 1777.2 | 1.3255 | 99.22 | 145 9/32 |
| Resistance Level 1 | 1769.8 | 1.3200 | 97.90 | 144 31/32 |
| Pivot Point | 1756.5 | 1.3143 | 96.67 | 144 18/32 |
| Support Level 1 | 1749.1 | 1.3088 | 95.35 | 144 8/32 |
| Support Level 2 | 1735.8 | 1.3031 | 94.12 | 143 27/32 |
| Support Level 3 | 1728.4 | 1.2976 | 92.80 | 143 17/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | March Corn | March Wheat | March Beans | March. Silver |
| Resistance Level 3 | 658.2 | 676.5 | 1243.67 | 3561.0 |
| Resistance Level 2 | 652.3 | 673.3 | 1234.33 | 3501.0 |
| Resistance Level 1 | 647.7 | 668.0 | 1225.67 | 3465.5 |
| Pivot Point | 641.8 | 664.8 | 1216.33 | 3405.5 |
| Support Level 1 | 637.2 | 659.5 | 1207.7 | 3370.0 |
| Support Level 2 | 631.3 | 656.3 | 1198.33 | 3310.0 |
| Support Level 3 | 626.7 | 651.0 | 1189.67 | 3274.5 |
5. Economic Reports
Retail Sales
5:00am
Italian Prelim
5:00am
Non-Farm Employment Change
8:30am
Unemployment Rate
8:30am
Average Hourly Earnings
8:30am
ISM Non-Manufacturing PMI
10:00am
Factory Orders
10:00am