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Important Price Levels SP 500 – Market Leader | Support and Resistance Levels

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart

1. Market Commentary

Volatility remains high and what I wrote the last few days, still holds:

As far as the daily chart, I am now confused again….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks.

With the close today I am now leaning towards the long side…..BUT still not excited about the risk / reward scenario.

GOOD TRADING!

2. Support and Resistance Levels

 

Contract (Dec. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1253.60 2406.50 12166 737.23
Resistance 2 1244.55 2376.00 11964 724.27
Resistance 1 1239.90 2357.00 11860 717.43
Pivot 1230.85 2326.50 11658 704.47
Support 1 1226.20 2307.50 11554 697.63
Support 2 1217.15 2277.00 11352 684.67
Support 3 1212.50 2258.00 11248 677.83

 

Contract Dec. Gold Dec. Euro Nov. Crude Oil Dec. Bonds
Resistance 3 1664.7 1.4156 92.01 139 21/32
Resistance 2 1657.2 1.4027 90.45 139 9/32
Resistance 1 1649.3 1.3956 89.07 138 24/32
Pivot 1641.8 1.3827 87.51 138 12/32
Support 1 1633.9 1.3756 86.13 137 27/32
Support 2 1626.4 1.3627 84.57 137 15/32
Support 3 1618.5 1.3556 83.19 136 30/32

3. Daily Mini Mini S&P 500 Futures Chart

Daily chart with two possible scenarios for your review below:

SP 500 futures trading strategy 1 Bulls

SP 500 futures trading strategy 2 Bears

Tags: > Posted in: Day Trading   | Futures Trading  

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