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 – Corn, Wheat, Beans, Silver
5. Economic Reports for Tuesday May 1, 2012
Hello Traders,
Wishing all of you a great trading month in May!
With the new trading month starting tomorrow, I am sharing with you a monthly chart of the SP 500 CASH INDEX for your review.
In May, make PATIENCE a priority in your trading!
GOOD TRADING!
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.
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 | 1403.83 | 2746.67 | 13227 | 836.87 |
| Resistance 2 | 1400.42 | 2740.33 | 13198 | 832.03 |
| Resistance 1 | 1396.83 | 2728.67 | 13177 | 823.17 |
| Pivot | 1393.42 | 2722.33 | 13148 | 818.33 |
| Support 1 | 1389.83 | 2710.67 | 13127 | 809.47 |
| Support 2 | 1386.42 | 2704.33 | 13098 | 804.63 |
| Support 3 | 1382.83 | 2692.67 | 13077 | 795.77 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 1695.7 | 1.3328 | 106.61 | 143 22/32 |
| Resistance 2 | 1681.4 | 1.3299 | 105.88 | 143 12/32 |
| Resistance 1 | 1673.8 | 1.3270 | 105.33 | 143 1/32 |
| Pivot | 1659.5 | 1.3241 | 104.60 | 142 23/32 |
| Support 1 | 1651.9 | 1.3212 | 104.05 | 142 12/32 |
| Support 2 | 1637.6 | 1.3183 | 103.32 | 142 2/32 |
| Support 3 | 1630.0 | 1.3154 | 102.77 | 141 23/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | July Corn | July Wheat | July Beans | May Silver |
| Resistance 3 | 653.2 | 672.0 | 1538.67 | 3233.2 |
| Resistance 2 | 644.1 | 663.5 | 1522.83 | 3188.8 |
| Resistance 1 | 639.2 | 659.0 | 1514.17 | 3148.7 |
| Pivot | 630.1 | 650.5 | 1498.33 | 3104.3 |
| Support 1 | 625.2 | 646.0 | 1489.7 | 3064.2 |
| Support 2 | 616.1 | 637.5 | 1473.83 | 3019.8 |
| Support 3 | 611.2 | 633.0 | 1465.17 | 2979.7 |
5. Economic Reports
All Day EUR
French Bank Holiday
All Day EUR
German Bank Holiday
All Day EUR
Italian Bank Holiday
10:00am EUR
ISM Manufacturing PMI
10:00am USD
Construction Spending m/m
10:00am USD
ISM Manufacturing Prices
11:00am USD
FOMC Member Williams Speaks
All Day USD
Total Vehicle Sales
11:30am USD
FOMC Member Lacker Speaks
12:30pm USD
FOMC Member Lockhart Speaks