The Futures Trader's Destination for Over 25 Years

Open an Account
Call Us Free: 1-800-454-9572
Why Trade with Cannon?
  • USA
  • Canada
  • Mexico
  • United Kingdom
  • France
  • Italy
  • Spain
  • Germany
  • Australia
  • Netherlands
  • Romania
  • Belgium
  • Sweden
  • Czech Republic
  • Hungary
  • Switzerland
  • Austria
  • Portugal
  • Denmark
  • Greece
  • UAE
  • Israel
  • Jordan
  • Saudi Arabia
  • India
  • Argentina
  • Costa Rica
  • Peru
  • Chile
  • Brazil
  • China
  • Hong Kong
  • Japan
  • Russia
  • Thailand
  • South Korea
  • Taiwan
  • Philippines
  • Singapore
  • And Many More!
Countries We Accept Clients From | International Calls: 310-859-9572

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.

GOOD TRADING!

2. SUPPORT AND RESISTANCE LEVELS!

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
9:00am

Fed Chairman Bernanke Testifies
10:00am

Factory Orders m/m
10:00am

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

Posted in: Future Trading News  

Comments are closed.

Download Cannon’s new eBook, “Futures Forthright” instantly.


Quick Tip: After registering you will be emailed login information, so be sure to use an email address you have access to. If you need assistance please call us at 1-800-454-9572, a professional broker will help you through the registration process.
________
Doing Business With
See more...
Loading
Loading

Loading