Monthly Unemployment Causes Big Market Moves | Support and Resistance
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 – Corn, Wheat, Beans, Silver
5. Economic Reports for Monday May 7, 2012
Hello Traders,
Monthly unemployment came out and as expected caused some big moves in major markets.
I sent an hourly and daily chart of the mini SP on Thursday afternoon and below you will see an updated daily chart of the mini SP after today’s big move.,
Also our weekly newsletter is now available for your viewing.
GOOD TRADING!
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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 | 1393.03 | 2712.33 | 13175 | 825.00 | 80.21 |
| Resistance 2 | 1387.02 | 2695.67 | 13133 | 817.40 | 79.91 |
| Resistance 1 | 1375.63 | 2662.83 | 13050 | 803.00 | 79.74 |
| Pivot | 1369.62 | 2646.17 | 13008 | 795.40 | 79.44 |
| Support 1 | 1358.23 | 2613.33 | 12925 | 781.00 | 79.27 |
| Support 2 | 1352.22 | 2596.67 | 12883 | 773.40 | 78.97 |
| Support 3 | 1340.83 | 2563.83 | 12800 | 759.00 | 78.80 |
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 | 1673.0 | 1.3255 | 106.91 | 145 20/32 |
| Resistance 2 | 1660.5 | 1.3219 | 104.82 | 144 22/32 |
| Resistance 1 | 1651.8 | 1.3155 | 101.70 | 144 7/32 |
| Pivot | 1639.3 | 1.3119 | 99.61 | 143 9/32 |
| Support 1 | 1630.6 | 1.3055 | 96.49 | 142 26/32 |
| Support 2 | 1618.1 | 1.3019 | 94.40 | 141 28/32 |
| Support 3 | 1609.4 | 1.2955 | 91.28 | 141 13/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | July Corn | July Wheat | July Beans | July Silver |
| Resistance 3 | 651.1 | 632.8 | 1505.67 | 3131.7 |
| Resistance 2 | 638.4 | 625.2 | 1492.08 | 3089.8 |
| Resistance 1 | 629.3 | 617.3 | 1485.17 | 3061.7 |
| Pivot | 616.7 | 609.7 | 1471.58 | 3019.8 |
| Support 1 | 607.6 | 601.8 | 1464.7 | 2991.7 |
| Support 2 | 594.9 | 594.2 | 1451.08 | 2949.8 |
| Support 3 | 585.8 | 586.3 | 1444.17 | 2921.7 |
5. Economic Reports
4:30am EUR
Sentix Investor Confidence
6:00am EUR
German Factory Orders m/m
3:00pm USD
Consumer Credit m/m
