Monthly Unemployment Numbers Tomorrow | 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 – Corn, Wheat, Beans, Silver
5. Economic Reports for Friday May 4, 2012
Hello Traders,
Monthly unemployment tomorrow is sure to move the market. Big question is which way and how big of a move…I wish I knew.
Below you will see the daily chart for the mini SP 500 , followed by the hourly chart for the mini SP 500 in hopes it will assist you with trading levels and direction.
DAILY CHART of MINI SP 500
HOURLY CHART OF MINI SP 500
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 | 1409.57 | 2765.67 | 13307 | 832.03 | 79.89 |
| Resistance 2 | 1404.28 | 2750.33 | 13263 | 825.27 | 79.71 |
| Resistance 1 | 1395.27 | 2724.67 | 13207 | 814.23 | 79.50 |
| Pivot | 1389.98 | 2709.33 | 13163 | 807.47 | 79.33 |
| Support 1 | 1380.97 | 2683.67 | 13107 | 796.43 | 79.12 |
| Support 2 | 1375.68 | 2668.33 | 13063 | 789.67 | 78.94 |
| Support 3 | 1366.67 | 2642.67 | 13007 | 778.63 | 78.73 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
142 14/32
| Contract | June Gold | June Euro | June Crude Oil | June Bonds |
| Resistance 3 | 1673.2 | 1.3275 | 107.64 | 143 28/32 |
| Resistance 2 | 1663.8 | 1.3229 | 106.53 | 143 14/32 |
| Resistance 1 | 1650.2 | 1.3189 | 104.58 | 143 5/32 |
| Pivot | 1640.8 | 1.3143 | 103.47 | 142 23/32 |
| Support 1 | 1627.2 | 1.3103 | 101.52 | 142 14/32 |
| Support 2 | 1617.8 | 1.3057 | 100.41 | 142 |
| Support 3 | 1604.2 | 1.3017 | 98.46 | 141 23/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | July Corn | July Wheat | July Beans | July Silver |
| Resistance 3 | 627.2 | 619.7 | 1502.67 | 3145.2 |
| Resistance 2 | 621.8 | 618.8 | 1493.83 | 3106.3 |
| Resistance 1 | 618.2 | 617.2 | 1483.67 | 3061.2 |
| Pivot | 612.8 | 616.3 | 1474.83 | 3022.3 |
| Support 1 | 609.2 | 614.7 | 1464.7 | 2977.2 |
| Support 2 | 603.8 | 613.8 | 1455.83 | 2938.3 |
| Support 3 | 600.2 | 612.2 | 1445.67 | 2893.2 |
5. Economic Reports
4:00am EUR
Final Services PMI
5:00am EUR
Retail Sales m/m
8:30am USD
Non-Farm Employment Change
8:30am USD
Unemployment Rate
8:30am USD
Average Hourly Earnings m/m
11:25am USD
FOMC Member Williams Speaks
