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E-Mini SP 500 – Support and Resistance Levels

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 7, 2012

Hello Traders,

I mentioned last week I was looking for a confirmation to go short the mini SP500 on a swing trading basis. The confirmation came during last night session when the market broke below the red moving avg. ( my trigger) at 1363.

The hard question now is where does one place a stop, where does one look for profit target? etc.

The answer can vary quite a bit from trader to trader based on ones account size, time frame traded, market outlook and much more….

My initial target is still 1323 followed by 1289 but the hard part is where to place a stop now that the market has moved in my favor?

The proper stop is still around 1371, but like I said, you can attack this in many different ways and only the future will tell which route was the best to manage this trade…..

EP - E- mini S&P 500, Equalized Active Daily Continuation

EP – E- mini S&P 500, Equalized Active Daily Continuation

2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000

Contract (March 2012) SP500
(big & Mini)
Nasdaq100
(big & Mini)
Dow Jones
(big & Mini)
Mini Russell
Resistance Level 3 1358.43 2612.00 12877 821.87
Resistance Level 2 1353.87 2602.50 12843 813.63
Resistance Level 1 1347.93 2595.00 12792 800.17
Pivot Point 1343.37 2585.50 12758 791.93
Support Level 1 1337.43 2578.00 12707 778.47
Support Level 2 1332.87 2568.50 12673 770.23
Support Level 3 1326.93 2561.00 12622 756.77

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract April. Gold March Euro April Crude Oil March. Bonds
Resistance Level 3 1747.5 1.3317 109.46 144 7/32
Resistance Level 2 1728.7 1.3272 108.40 143 9/32
Resistance Level 1 1701.1 1.3194 106.63 142 18/32
Pivot Point 1682.3 1.3149 105.57 141 20/32
Support Level 1 1654.7 1.3071 103.80 140 29/32
Support Level 2 1635.9 1.3026 102.74 139 31/32
Support Level 3 1608.3 1.2948 100.97 139 8/32

4. Support & Resistance Levels for Corn, Wheat, Beans and Silver

Contract May Corn May Wheat May Beans May Silver
Resistance Level 3 666.8 660.7 1362.17 3561.5
Resistance Level 2 662.7 659.6 1349.08 3491.0
Resistance Level 1 658.3 658.7 1342.17 3390.0
Pivot Point 654.2 657.6 1329.08 3319.5
Support 1 649.8 656.7 1322.2 3218.5
Support Level 2 645.7 655.6 1309.08 3148.0
Support Level 3 641.3 654.7 1302.17 3047.0


5. Economic Reports

8:15am USD
ADP Non-Farm Employment Change

8:30am USD
Revised Nonfarm Productivity q/q

8:30am USD
Revised Unit Labor Costs q/q

10:30am USD
Crude Oil Inventories

3:00pm USD
Consumer Credit m/m

 

Tags: > Posted in: Commodity Trading   | Future Trading News  

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