Market Commentaries | Holiday Updates | Support and Resistance Levels
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 Friday, December 23, 2011
1. Market Commentary
Holiday schedule for this Friday through Tuesday for your review below. Please contact your broker with any questions. This is one of the few times where many markets will be closed from Friday afternoon until early Tuesday morning, so please review schedule below.
Also, I mentioned before and I am mentioning again, volume is much lighter recent days and i suspect that the same will happen next Thursday/ Friday. Be aware of the change in “intra-day personalities of the markets” and I recommend taking the approach of “no trade is better than a bad trade”….
View the Holiday Trading Hours here.
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 | 1262.33 | 2285.67 | 12188 | 758.10 |
| Resistance Level 2 | 1255.92 | 2274.33 | 12152 | 752.00 |
| Resistance Level 1 | 1251.83 | 2268.67 | 12128 | 746.90 |
| Pivot Point | 1245.42 | 2257.33 | 12092 | 740.80 |
| Support Level 1 | 1241.33 | 2251.67 | 12068 | 735.70 |
| Support Level 2 | 1234.92 | 2240.33 | 12032 | 729.60 |
| Support Level 3 | 1230.83 | 2234.67 | 12008 | 724.50 |
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 | 1629.9 | 1.3224 | 101.74 | 144 19/32 |
| Resistance Level 2 | 1622.3 | 1.3179 | 100.90 | 144 10/32 |
| Resistance Level 1 | 1614.3 | 1.3120 | 100.20 | 143 26/32 |
| Pivot Point | 1606.7 | 1.3075 | 99.36 | 143 17/32 |
| Support Level 1 | 1598.7 | 1.3016 | 98.66 | 143 1/32 |
| Support Level 2 | 1591.1 | 1.2971 | 97.82 | 142 24/32 |
| Support Level 3 | 1583.1 | 1.2912 | 97.12 | 142 8/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | March Corn | March Wheat | Jan. Beans | March. Silver |
| Resistance Level 3 | 637.7 | 641.4 | 1194.33 | 3023.2 |
| Resistance Level 2 | 631.3 | 633.6 | 1181.17 | 2995.8 |
| Resistance Level 1 | 624.2 | 627.2 | 1170.58 | 2954.7 |
| Pivot Point | 617.8 | 619.3 | 1157.42 | 2927.3 |
| Support Level 1 | 610.7 | 612.9 | 1146.8 | 2886.2 |
| Support Level 2 | 604.3 | 605.1 | 1133.67 | 2858.8 |
| Support Level 3 | 597.2 | 598.7 | 1123.08 | 2817.7 |
5. Economic Reports
BBA Mortgage Approvals
4:30am
Index of Servies
4:30am
SNB Quarterly Bulletin
5:00am
GDP
8:30am
Core Durable Goods Orders
8:30am
Core PCE Price Index
8:30am
Durable Goods Orders
8:30am
Personal Spending
8:30am
Personal Income
8:30am
New Home Sales
10:00am
