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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 – Corn, Wheat, Beans, Silver
5. Economic Reports for Tuesday April 24, 2012
Hello Traders,
Strong sell off to start the week. We have two day FOMC meeting with announcement coming Wednesday Morning.
Hourly chart of the mini SP with potential extensions both for a bounce up or continued move down below for your information:
GOOD TRADING!
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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 | 1376.67 | 2691.67 | 12997 | 819.23 |
| Resistance 2 | 1370.23 | 2672.83 | 12938 | 810.07 |
| Resistance 1 | 1366.87 | 2662.67 | 12907 | 800.03 |
| Pivot | 1360.43 | 2643.83 | 12848 | 790.87 |
| Support 1 | 1357.07 | 2633.67 | 12817 | 780.83 |
| Support 2 | 1350.63 | 2614.83 | 12758 | 771.67 |
| Support 3 | 1347.27 | 2604.67 | 12727 | 761.63 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | June Gold | June Euro | May Crude Oil | June Bonds |
| Resistance 3 | 1668.3 | 1.3320 | 106.12 | 144 9/32 |
| Resistance 2 | 1656.3 | 1.3267 | 105.01 | 143 23/32 |
| Resistance 1 | 1647.7 | 1.3213 | 104.04 | 143 6/32 |
| Pivot | 1635.7 | 1.3160 | 102.93 | 142 20/32 |
| Support 1 | 1627.1 | 1.3106 | 101.96 | 142 3/32 |
| Support 2 | 1615.1 | 1.3053 | 100.85 | 141 17/32 |
| Support 3 | 1606.5 | 1.2999 | 99.88 | 141 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | May Corn | May Wheat | May Beans | May Silver |
| Resistance 3 | 625.2 | 647.5 | 1464.92 | 3277.5 |
| Resistance 2 | 618.8 | 640.5 | 1459.33 | 3223.0 |
| Resistance 1 | 615.7 | 636.5 | 1450.17 | 3154.0 |
| Pivot | 609.3 | 629.5 | 1444.58 | 3099.5 |
| Support 1 | 606.2 | 625.5 | 1435.4 | 3030.5 |
| Support 2 | 599.8 | 618.5 | 1429.83 | 2976.0 |
| Support 3 | 596.7 | 614.5 | 1420.67 | 2907.0 |
5. Economic Reports
5:00am EUR
Industrial New Orders m/m
9:00am EUR
Belgium NBB Business Climate
9:00am EUR
S&P/CS Composite-20 HPI y/y
10:00am USD
CB Consumer Confidence
10:00am USD
New Home Sales
10:00am USD
OFHEO HPI m/m
10:00am USD
Richmond Manufacturing Index