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 March 28, 2012
Hello Traders,
Quick update, CME group has reduced the OVERNIGHT margins for some of the stock indices, for example mini SP OVERNIGHT initial margin is now $4,375 down from $5,000.
Full list of overnight margins at:
Two videos to share with you today:
Using overbought/oversold ALGORITHM along with preset exits to day trade Mini S&P 500 Futures
And
Using auto trailing stops to day-trade crude oil futures
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
| Contract (June 2012) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
| Resistance 3 | 1418.43 | 2800.33 | 13230 | 859.93 |
| Resistance 2 | 1416.12 | 2794.67 | 13210 | 855.27 |
| Resistance 1 | 1411.43 | 2786.33 | 13170 | 846.23 |
| Pivot | 1409.12 | 2780.67 | 13150 | 841.57 |
| Support 1 | 1404.43 | 2772.33 | 13110 | 832.53 |
| Support 2 | 1402.12 | 2766.67 | 13090 | 827.87 |
| Support 3 | 1397.43 | 2758.33 | 13050 | 818.83 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | April. Gold | March Euro | April Crude Oil | June Bonds |
| Resistance 3 | 1709.9 | 1.3439 | 108.84 | 139 27/32 |
| Resistance 2 | 1703.4 | 1.3415 | 108.28 | 139 4/32 |
| Resistance 1 | 1691.6 | 1.3370 | 107.63 | 138 24/32 |
| Pivot | 1685.1 | 1.3346 | 107.07 | 138 1/32 |
| Support 1 | 1673.3 | 1.3301 | 106.42 | 137 21/32 |
| Support 2 | 1666.8 | 1.3277 | 105.86 | 136 30/32 |
| Support 3 | 1655.0 | 1.3232 | 105.21 | 136 18/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | May Corn | May Wheat | May Beans | May Silver |
| Resistance 3 | 650.7 | 676.2 | 1397.83 | 3370.7 |
| Resistance 2 | 646.6 | 668.6 | 1391.92 | 3344.8 |
| Resistance 1 | 638.7 | 654.2 | 1380.83 | 3299.7 |
| Pivot | 634.6 | 646.6 | 1374.92 | 3273.8 |
| Support 1 | 626.7 | 632.2 | 1363.8 | 3228.7 |
| Support 2 | 622.6 | 624.6 | 1357.92 | 3202.8 |
| Support 3 | 614.7 | 610.2 | 1346.83 | 3157.7 |
5. Economic Reports
4:00am EUR
M3 Money Supply y/y
4:00am EUR
Private Loans y/y
8:30am USD
Core Durable Goods Orders m/m
8:30am USD
Durable Goods Orders m/m
10:30am USD
Crude Oil Inventories