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 – Corn, Wheat, Beans, Silver
5. Economic Reports for Wednesday May 9, 2012
Hello Traders,
Below is a screen shot of my desktop charting from today, which I share with interested clients and prospects on a trial basis and subscription basis.
What you see below are my intra-day charts for the : ( from left to right)
Mini Russell 2000, Mini SP 500, Crude Oil ( top right), Gold futures, (bottom right)
GOOD TRADING!
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.
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
| Contract (June 2012) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell | Dollar Index |
| Resistance 3 | 1385.10 | 2694.50 | 13056 | 813.03 | 80.53 |
| Resistance 2 | 1373.70 | 2664.25 | 12976 | 803.57 | 80.30 |
| Resistance 1 | 1366.60 | 2643.50 | 12921 | 797.53 | 80.12 |
| Pivot | 1355.20 | 2613.25 | 12841 | 788.07 | 79.90 |
| Support 1 | 1348.10 | 2592.50 | 12786 | 782.03 | 79.72 |
| Support 2 | 1336.70 | 2562.25 | 12706 | 772.57 | 79.49 |
| Support 3 | 1329.60 | 2541.50 | 12651 | 766.53 | 79.31 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 1675.4 | 1.3140 | 101.01 | 146 2/32 |
| Resistance 2 | 1657.4 | 1.3103 | 99.57 | 145 15/32 |
| Resistance 1 | 1631.4 | 1.3057 | 98.41 | 144 28/32 |
| Pivot | 1613.4 | 1.3020 | 96.97 | 144 9/32 |
| Support 1 | 1587.4 | 1.2974 | 95.81 | 143 22/32 |
| Support 2 | 1569.4 | 1.2937 | 94.37 | 143 3/32 |
| Support 3 | 1543.4 | 1.2891 | 93.21 | 142 16/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | July Corn | July Wheat | July Beans | July Silver |
| Resistance 3 | 641.1 | 621.7 | 1488.83 | 3098.8 |
| Resistance 2 | 636.7 | 620.3 | 1477.42 | 3055.7 |
| Resistance 1 | 629.8 | 617.7 | 1457.83 | 2999.8 |
| Pivot | 625.4 | 616.3 | 1446.42 | 2956.7 |
| Support 1 | 618.6 | 613.7 | 1426.8 | 2900.8 |
| Support 2 | 614.2 | 612.3 | 1415.42 | 2857.7 |
| Support 3 | 607.3 | 609.7 | 1395.83 | 2801.8 |
5. Economic Reports
2:00am EUR
German Trade Balance
2:45am EUR
French Trade Balance
10:00am USD
Wholesale Inventories m/m
10:30am USD
Crude Oil Inventories
10:45am USD
FOMC Member Pianalto Speaks
1:00pm USD
10-y Bond Auction