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 Report for February 1, 2012
1. Market Commentary
New month is starting and I would like to wish everyone great trading in February.
As the new month starting, I am sharing 3 different charts with you, Monthly, weekly and daily of the mini SP 500.
Regardless if you are day-trading or position trading, sometimes traders can get a better prospective by looking at larger time frames and going down.
Would you like to have access to my DIAMOND ALGO as shown above and be able to apply for any market and any time frame on your own PC ? You can now have a two weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.
If so, please send me an email with the following information:
1. Are you currently trading futures?
2. Charting software you use?
3. If you use sierra or ATcharts, please let me know the user name so I can enable you
4. Markets you currently trading?
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 | 1330.17 | 2505.00 | 12800 | 810.53 |
| Resistance Level 2 | 1323.68 | 2492.00 | 12732 | 804.77 |
| Resistance Level 1 | 1315.47 | 2474.00 | 12656 | 796.63 |
| Pivot Point | 1308.98 | 2461.00 | 12588 | 790.87 |
| Support Level 1 | 1300.77 | 2443.00 | 12512 | 782.73 |
| Support Level 2 | 1294.28 | 2430.00 | 12444 | 776.97 |
| Support Level 3 | 1286.07 | 2412.00 | 12368 | 768.83 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | April. Gold | March Euro | Feb. Crude Oil | March. Bonds |
| Resistance Level 3 | 1776.3 | 1.3355 | 103.95 | 147 18/32 |
| Resistance Level 2 | 1763.5 | 1.3286 | 102.62 | 146 16/32 |
| Resistance Level 1 | 1752.7 | 1.3182 | 100.52 | 145 31/32 |
| Pivot Point | 1739.9 | 1.3113 | 99.19 | 144 29/32 |
| Support Level 1 | 1729.1 | 1.3009 | 97.09 | 144 12/32 |
| Support Level 2 | 1716.3 | 1.2940 | 95.76 | 143 10/32 |
| Support Level 3 | 1705.5 | 1.2836 | 93.66 | 142 25/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | March Corn | March Wheat | March Beans | March. Silver |
| Resistance Level 3 | 652.8 | 675.7 | 1225.67 | 3505.7 |
| Resistance Level 2 | 647.2 | 671.8 | 1214.83 | 3459.3 |
| Resistance Level 1 | 643.1 | 668.9 | 1206.92 | 3385.7 |
| Pivot Point | 637.4 | 665.1 | 1196.08 | 3339.3 |
| Support Level 1 | 633.3 | 662.2 | 1188.2 | 3265.7 |
| Support Level 2 | 627.7 | 658.3 | 1177.33 | 3219.3 |
| Support Level 3 | 623.6 | 655.4 | 1169.42 | 3145.7 |
5. Economic Reports
CPI Flash Estimate
5:00am
ADP Non-Farm Employment Change
8:15am
ISM Manufacturing PMI
10:00am
Construction Spending
10:00am
ISM Manufacturing Prices
10:00am
Crude Oil Inventories
10:30am
Total Vehicle Sales
All Day