Market Commentary | Support and Resistance Levels
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 Thursday, December 22, 2011
1. Market Commentary
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 2 | 1249.35 | 2290.67 | 12118 | 759.20 |
| Resistance Level 1 | 1243.80 | 2268.33 | 12082 | 748.70 |
| Pivot Point | 1233.45 | 2241.67 | 12008 | 735.60 |
| Support Level 1 | 1227.90 | 2219.33 | 11972 | 725.10 |
| Support Level 2 | 1217.55 | 2192.67 | 11898 | 712.00 |
| Support Level 3 | 1212.00 | 2170.33 | 11862 | 701.50 |
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 | 1638.0 | 1.3362 | 102.29 | 145 18/32 |
| Resistance Level 2 | 1630.0 | 1.3293 | 100.77 | 145 3/32 |
| Resistance Level 1 | 1623.7 | 1.3176 | 99.84 | 144 3/32 |
| Pivot Point | 1615.7 | 1.3107 | 98.32 | 143 20/32 |
| Support Level 1 | 1609.4 | 1.2990 | 97.39 | 142 20/32 |
| Support Level 2 | 1601.4 | 1.2921 | 95.87 | 142 5/32 |
| Support Level 3 | 1595.1 | 1.2804 | 94.94 | 141 5/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | March Corn | March Wheat | Jan. Beans | March. Silver |
| Resistance Level 3 | 640.3 | 638.7 | 1191.17 | 3109.0 |
| Resistance Level 2 | 629.7 | 628.3 | 1175.08 | 3065.0 |
| Resistance Level 1 | 622.3 | 620.7 | 1164.42 | 3001.0 |
| Pivot Point | 611.7 | 610.3 | 1148.33 | 2957.0 |
| Support Level 1 | 604.3 | 602.7 | 1137.7 | 2893.0 |
| Support Level 2 | 593.7 | 592.3 | 1121.58 | 2849.0 |
| Support Level 3 | 586.3 | 584.7 | 1110.92 | 2785.0 |
5. Economic Reports
Unemployment Claims
8:30am
Final GDP
8:30am
Final GDP Price Index
8:30am
Revised UoM Consumer Sentiment
9:55am
Revised UoM Inflation Expectations
9:55am
CB Leading Index
10:00am
OFHEO HPI
10:00am
Natural Gas Storage
10:30am
