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Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports
5. Earnings Releases

1. Market Commentary

Note to our clients who are trading with TransactAT:

The latest version is now TransactAT 5.2.2 (download). The newer version can be installed over the older version. Please contact you broker if you need any help.

FOMC came like a hurricane as the market sold off sharply after the announcement with some heavy volume.

Last couple of days I shared my mini Russell 2000 chart along with the potential sell at 693 and target at 673. This trade idea is completed.

Below you will see my mini SP chart with potential levels both below and above as my guess is we will see volatility going both directions.

ALWAYS EXPECT THE UNEXPECTED! When volatility skyrockets like now, moves become extreme, the speed of the market really picks up and this is when one must adjust their trading size lower to accommodate for the wilder and wider moves.

GOOD TRADING!

2. SUPPORT AND RESISTANCE LEVELS!

Contract (Sept. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1230.67 2369.67 11679 716.40
Resistance 2 1215.43 2343.83 11542 704.10
Resistance 1 1185.97 2295.92 11275 681.80
Pivot 1170.73 2270.08 11138 669.50
Support 1 1141.27 2222.17 10871 647.20
Support 2 1126.03 2196.33 10734 634.90
Support 3 1096.57 2148.42 10467 612.60

 

Contract Dec. Gold Dec. Euro Nov. Crude Oil Dec. Bonds
Resistance 3 1832.0 1.3950 90.08 146
Resistance 2 1823.0 1.3870 89.04 144 21/32
Resistance 1 1804.1 1.3719 87.01 143 30/32
Pivot 1795.1 1.3639 85.97 142 19/32
Support 1 1776.2 1.3488 83.94 141 28/32
Support 2 1767.2 1.3408 82.90 140 17/32
Support 3 1748.3 1.3257 80.87 139 26/32

3. Daily Mini S&P 500 Futures Chart from September 21, 2011

Daily Mini S&P 500 Futures Chart from September 21, 2011

Would you like to have access to my DIAMOND ALGO as shown above and be able to apply for any market and any time frame?

If so, please send me an email with the following information:

  1. Are you currently trading futures?
  2. Charting software you use?
  3. If you use sierra or ATcharts, please let me know the user name so I can enable you.
  4. Markets you currently trade.

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.

4. Economic Reports for Thursday September 22, 2011

Unemployment Claims
8:30am USD

CB Leading Index m/m
10:00am USD

OFHEO HPI m/m
10:00am USD

Natural Gas Storage
10:30am USD

Economics Report Source: http://www.forexfactory.com/calendar.php

5. Earnings Releases

SYMBOL COMPANY EVENT TITLE EPS ESTIMATE EPS ACTUAL PREV. YEAR ACTUAL DATE/TIME (ET)
BBBY Bed Bath & Beyond Inc Q2 2011 Bed Bath & Beyond Inc. Earnings Release $ 0.84 n/a $ 0.70 21-Sep AMC
GIS General Mills Inc Q1 2012 General Mills Inc Earnings Release $ 0.62 n/a $ 0.64 21-Sep BMO
RHT Red Hat Inc Q2 2012 Red Hat Inc Earnings Release $ 0.25 n/a $ 0.19 21-Sep
FUL HB Fuller Co Q3 2011 HB Fuller Co Earnings Release $ 0.47 n/a $ 0.38 21-Sep AMC
IHS IHS Inc Q3 2011 IHS Inc Earnings Release $ 0.81 n/a $ 0.76 21-Sep BMO
MB.MI Mediobanca Banca Di Credito Finanziario SpA Full Year 2010/2011 Mediobanca Banca Di Credito Finanziario SpA Earnings Release n/a n/a n/a 21-S

 

 

Tags: > Posted in: Futures Trading  

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