In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Hourly Futures chart of PIT big S&P500
4. Economic Reports
5. Highlighted Earnings Releases
1. Market Commentary
Market came back from a long weekend with extra energy and extra volatility.
We gaped lower to start the session and then bounced most of the day after better than expected ISM.
At this point, there more than a few gaps on the daily chart to be filled in both directions.
I am looking at a “band” between 1183 and 1136 as we go into tonight’s and tomorrow session.
To be honest, I don’t have a feel on which way to play the market outside of day-trading set ups right now.
I share these set ups, like the one below using the hourly chart in my daily, live signals service.
Hourly chart of PIT (big SP500) for your review below:
GOOD TRADING!
2. SUPPORT AND RESISTANCE LEVELS!
| Contract (Sept. 2011) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1201.00 | 2243.67 | 11419 | 713.27 |
| Resistance 2 | 1183.40 | 2207.08 | 11279 | 697.83 |
| Resistance 1 | 1173.70 | 2186.17 | 11204 | 688.57 |
| Pivot | 1156.10 | 2149.58 | 11064 | 673.13 |
| Support 1 | 1146.40 | 2128.67 | 10989 | 663.87 |
| Support 2 | 1128.80 | 2092.08 | 10849 | 648.43 |
| Support 3 | 1119.10 | 2071.17 | 10774 | 639.17 |
| Contract | Dec. Gold | Sept. Euro | Oct. Crude Oil | Dec. Bonds |
| Resistance 3 | 1952.8 | 1.4504 | 91.02 | 143 8/32 |
| Resistance 2 | 1932.1 | 1.4394 | 88.81 | 142 18/32 |
| Resistance 1 | 1906.5 | 1.4190 | 87.62 | 141 22/32 |
| Pivot | 1885.8 | 1.4080 | 85.41 | 141 |
| Support 1 | 1860.2 | 1.3876 | 84.22 | 140 4/32 |
| Support 2 | 1839.5 | 1.3766 | 82.01 | 139 14/32 |
| Support 3 | 1813.9 | 1.3562 | 80.82 | 138 18/32 |
3. Hourly Futures chart of PIT big S&P500 from September 6th, 2011
4. Economic Reports Wednesday September 7th, 2011
FOMC Member Evans Speaks
11:15am USD
Beige Book
2:00pm USD
Economics Report Source: http://www.forexfactory.com/calendar.php
5. Today’s Highlighted Earnings Releases
| SYMBOL | COMPANY | EVENT TITLE | EPS ESTIMATE | EPS ACTUAL | PREV. YEAR ACTUAL | DATE/TIME (ET) |
| ALTR | Altera Corp | Q3 2011 Altera Corp Earnings Release | $ 0.64 | n/a | $ 0.69 | 6-Sep AMC |
| GNS.L | Genus PLC | Preliminary 2011 Genus plc Earnings Release | n/a | n/a | n/a | 6-Sep |
| KONG | KongZhong Corp | Q2 2011 KongZhong Corp Earnings Release | $ 0.11 | n/a | $ 0.07 | 6-Sep AMC |
| PIKE | Pike Electric Corp | Q4 2011 Pike Electric Corp Earnings Release | $ 0.04 | n/a | -$ 0.12 | 6-Sep BMO |
| PAY | Verifone Systems Inc | Q3 2011 Verifone Systems Inc Earnings Release | $ 0.46 | n/a | $ 0.36 | 6-Sep AMC |
| MMBM.MZ | AKB Bank Moskvy OAO | H1 2011 BANK OF MOSCOW Earnings Release | n/a | n/a | n/a | 6-Sep |