span style=”text-decoration: underline;”>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 Reports for Wednesday, December 21, 2011
1. Market Commentary
I just posted the below paragraph about Holiday trading yesterday and we saw a great example of it today…market rallying over 3% with about 60% of the normal volume….
So read the paragraph again and make sure you are aware of trading conditions and adjust accordingly.
We are now entering a period of the year when volume may be lower than normal. It will be more noticeable starting Friday Dec. 23rd as we will enter the holiday period of Christmas and New year.
Understand that lower volume can results some erratic moves at times and during other periods of the day can create “sleepy, slow ” type of trading.
Make sure you are aware of the trading schedule, reports times so you are not caught by surprise.
Happy Holidays and great trading, PIT session, big SP500 daily chart for your review below with possible levels of support and resistance. Pay attention to the many gaps on this chart occurring because of overnight moves.
PIT Session, Big SP500 Daily Chart
