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E-Mini S&P 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 January 26, 2012

1. Market Commentary

FOMC is behind us and below you will find some commentary from WSJ online as well as my daily chart of the Mini SP 500, which like always have at least two scenarios…upside possible targets as well as reversal zones if the market losses momentum..While I think this market may be overbought, I would not look to fight this momentum unless I see signs of buying exhaustion and reversal.
************************************************************
WSJ BLOG/MarketBeat: Today Looks a Lot Like a QE Trade
01/25/12 14:32

(This story has been posted on The Wall Street Journal Online’s Market Beat blog at http://blogs.wsj.com/marketbeat.)

By Min Zeng
US stocks and gold are bouncing, the ten-year Treasury yield is tumbling below 2% again (at least briefly) and the dollar is getting hit — sounds like the typical picture of a QE trade rippling through the financial markets.
Indeed, some market participants are taking today’s dovish FOMC statement as QE-lite.
The key boost for risky assets lies in the Fed’s further extension of its promise to keep its ultra-low target rate into late 2014. That means investors can be assured that the first rate hike won’t come until then or even later.
A bond trader says that the statement signals the Fed is more worried about deflation, which suggests more policy easing to co! me.
“They won’t use the D word but that is what they are thinking,” he says. “Expect QE3 to come.”
The dollar wilts on the dovish Fed, with the euro up 0.4% at $1.309.
Gold, another QE beneficiary, bounced from less than $1660 an ounce before the Fed’s statement to more than $1710 at last check.

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 (Dec. 2011) SP500
(big & Mini)
Nasdaq100
(big & Mini)
Dow Jones
(big & Mini)
Mini Russell
Resistance Level 3 1351.17 2506.33 12962 812.17
Resistance Level 2 1337.83 2486.67 12841 803.73
Resistance Level 1 1330.17 2475.33 12773 798.27
Pivot Point 1316.83 2455.67 12652 789.83
Support Level 1 1309.17 2444.33 12584 784.37
Support Level 2 1295.83 2424.67 12463 775.93
Support Level 3 1288.17 2413.33 12395 770.47

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 1797.3 1.3374 103.85 145 28/32
Resistance Level 2 1755.2 1.3249 102.12 144 22/32
Resistance Level 1 1733.3 1.3183 100.98 143 9/32
Pivot Point 1691.2 1.3058 99.25 142 3/32
Support Level 1 1669.3 1.2992 98.11 140 22/32
Support Level 2 1627.2 1.2867 96.38 139 16/32
Support Level 3 1605.3 1.2801 95.24 138 3/32

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

Contract March Corn March Wheat Jan. Beans March. Silver
Resistance Level 3 652.0 652.2 1231.33 3581.0
Resistance Level 2 645.0 647.1 1226.17 3460.5
Resistance Level 1 639.8 644.2 1219.83 3393.5
Pivot Point 632.8 639.1 1214.67 3273.0
Support Level 1 627.5 636.2 1208.3 3206.0
Support Level 2 620.5 631.1 1203.17 3085.5
Support Level 3 615.3 628.2 1196.83 3018.5


5. Economic Reports

WEF Annual Meeting
Day 2

Core Durable Goods Orders
8:30am

Unemployment Claims
8:30am

Durable Goods Orders
8:30am

New Home Sales
10:00am

CB Leading Index
10:00am

Natural Gas Storage
10:30am

 

Tags: > > Posted in: Future Trading News  

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