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. Daily Mini S&P Chart
5. Economic Reports for Wednesday, November 30, 2011
1. Market Commentary
Wishing all of you a great trading month in December.
Also heads up, if you are trading GOLD, SILVER, BONDS and GRAINS, it is time to trade the March contract for these markets ( February Gold) as December is entering delivery period.
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 | 1271.50 | 2339.00 | 12283 | 804.53 |
| Resistance Level 2 | 1259.00 | 2318.00 | 12157 | 770.97 |
| Resistance Level 1 | 1252.00 | 2306.00 | 12093 | 753.73 |
| Pivot Point | 1239.50 | 2285.00 | 11967 | 720.17 |
| Support Level 1 | 1232.50 | 2273.00 | 11903 | 702.93 |
| Support Level 2 | 1220.00 | 2252.00 | 11777 | 669.37 |
| Support Level 3 | 1213.00 | 2240.00 | 11713 | 652.13 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | Feb. Gold | Dec. Euro | Jan. Crude Oil | March. Bonds |
| Resistance Level 3 | 1780.3 | 1.3838 | 104.58 | 142 27/32 |
| Resistance Level 2 | 1767.5 | 1.3687 | 103.17 | 142 12/32 |
| Resistance Level 1 | 1759.0 | 1.3563 | 101.75 | 141 28/32 |
| Pivot Point | 1746.2 | 1.3412 | 100.34 | 141 13/32 |
| Support Level 1 | 1737.7 | 1.3288 | 98.92 | 140 29/32 |
| Support Level 2 | 1724.9 | 1.3137 | 97.51 | 140 14/32 |
| Support Level 3 | 1716.4 | 1.3013 | 96.09 | 139 30/32 |
4. Daily Mini S&P Chart
Daily chart of the Mini SP 500 with levels for your review, after World Central Banks agreed to a new, lower lending rate for dollar denominated loans. Providing more Grease to the euro-zone wheels, sent many markets, mostly stock indices sharply higher.
5. Economic Reports
ECB President Draghi Speaks
3:00am
Final Manufacturing PMI
4:00am
Unemployment Claims
8:30am
ISM Manufacturing PMI
10:00am
Construction Spending
10:00am
ISM Manufacturing Prices
10:00am
Natural Gas Storage
10:30am
Total Vehicle Sales
All Day