October Markets May Revisit August Lows | Support and Resistance Levels

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

October Markets May Revisit August Lows | Support and Resistance Levels

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports

1. Market Commentary

First trading day of October started negative for stock indices and it seems that a retest of 1070 lows from August is on the way.

October however, started very positive for my day-trading model/ ALGO.

What you see below is a screen shot from the last hour or so of trading on the mini SP. You will notice DIAMONDS markings on the chart. These markings appear BEFORE THE BAR STARTS and are an output of what I have been working for over two years in an attempt to find an indicator that is LEADING by nature and NOT LAGGING….obviously not all days are as powerful as what you see in the chart below but for me this has been the one day-trading tool I have the most confidence in so far.

The DIAMONDS ALGO and a few other studies are available for traders to try using sierra charts, where one can apply the ALGO on different markets and different time frames at anytime on their PC (my recommended method) and/or via my webinar, where one is limited to see the few charts I share during US stock market hours. You can have a trial of either one if you have NOT had one before.



Contract (Dec. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1166.40 2207.67 11176 678.93
Resistance 2 1149.70 2177.83 11041 663.07
Resistance 1 1118.60 2122.42 10786 633.53
Pivot 1101.90 2092.58 10651 617.67
Support 1 1070.80 2037.17 10396 588.13
Support 2 1054.10 2007.33 10261 572.27
Support 3 1023.00 1951.92 10006 542.73


Contract Dec. Gold Dec. Euro Nov. Crude Oil Dec. Bonds
Resistance 3 1689.5 1.3514 81.73 148 16/32
Resistance 2 1678.2 1.3446 80.68 146 29/32
Resistance 1 1667.1 1.3317 78.74 146 8/32
Pivot 1655.8 1.3249 77.69 144 21/32
Support 1 1644.7 1.3120 75.75 144
Support 2 1633.4 1.3052 74.70 142 13/32
Support 3 1622.3 1.2923 72.76 141 24/32

3. Minute Mini S&P 500 Futures Chart from October 3, 2011

Minute Mini S&P 500 Futures Chart from October 3, 2011

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?

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 trade.

4. Economic Reports for Tuesday October 3, 2011

FOMC Member Raskin Speaks

Fed Chairman Bernanke Testifies

Factory Orders m/m

Economics Report Source: http://www.forexfactory.com/calendar.php

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