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.

Quick Links: Commissions | Day Margins | Contact Us
Open An Account
Free Demo Account Subscribe Here

FOMC Statement November 2nd 2011 | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. FOMC Statement Reminder
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Daily Mini S&P Chart
5. Economic Reports for Wednesday November 2, 2011

divider black 190

1. FOMC Statement Tomorrow!

If the first day of November is an indication of what to come….then hang on as it may be a wild ride…..

FOMC tomorrow and before that more than a few economic numbers.

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

My observations suggest choppy, low volume up until announcement, followed by some some sharp volatile moves right during and after the announcement. However, with tomorrow early morning reports and recent volatility, we may see wild action through out.

HEADS UP – NORMALLY FOMC COMES OUT AT 2:15 EASTERN TIME. TOMORROW IT WILL BE OUT 12:30 EASTERN TIME

One advice everyone can benefit from is, reduce your trading size in proportion to the increase in volatility. This should help your comfort level while in the day-trade.

divider black 190

2. Support & Resistance Levels for the S&P 500, NASDAQ, DJIA, and Russell 2000

Contract (Dec. 2011) SP500
(big & Mini)		 Nasdaq100
(big & Mini)		 Dow Jones
(big & Mini)		 Mini Russell
Resistance Level 3 1246.83 2355.67 12175 765.27
Resistance Level 2 1238.02 2336.33 12046 751.73
Resistance Level 1 1227.63 2320.67 11828 733.27
Pivot Point 1218.82 2301.33 11699 719.73
Support Level 1 1208.43 2285.67 11481 701.27
Support Level 2 1199.62 2266.33 11352 687.73
Support Level 3 1189.23 2250.67 11134 669.27

Continue reading “FOMC Statement November 2nd 2011 | Support and Resistance Levels”

Wishing all of you a great trading month in November! | Support and Resistance Levels

Posted on by Ilan

In this post:

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

divider black 190

1. Market Commentary

Wishing all of you a great trading month in November!

divider black 190

2. Support and Resistance Levels

Contract (Dec. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1280.67 2415.33 11945 775.97
Resistance 2 1273.93 2400.67 11928 767.43
Resistance 1 1259.47 2378.33 11913 751.07
Pivot 1252.73 2363.67 11896 742.53
Support 1 1238.27 2341.33 11881 726.17
Support 2 1231.53 2326.67 11864 717.63
Support 3 1217.07 2304.33 11849 701.27

Continue reading “Wishing all of you a great trading month in November! | Support and Resistance Levels”

Download Critical Trading Lessons | Support and Resistance Levels

Posted on by Ilan

 

In this post:

1. Market Commentary
2. Support and Resistance Levels

divider black 190

1. Market Commentary

Download 14 Critical Lessons Every Trader Should Know

Dear Trader,

You know how difficult it can be to successfully trade the markets. The volatility we’ve seen lately does offer great opportunities, but it can also derail even the most experienced trader. That’s why our friends at Elliott Wave International are releasing one of their most popular trading eBooks — The Best of Trader’s Classroom — free through November 7.

Since 1999, EWI Senior Analyst and trading instructor Jeffrey Kennedy has produced dozens of exclusive Trader’s Classroom lessons for his subscribers. EWI reviewed over 100 lessons and selected the 14 which offer the most critical information that every trader should know.

Now you can download these valuable lessons in their 45-page Best of Trader’s Classroom eBook, free.

You’ll learn:
Why Emotional Discipline Is Key to Success
When to Place a Trade
How to Set Protective Stops
What It Takes to be a Consistently Successful Trader
And 10 more!

Download Your Free Best of Trader’s Classroom eBook Today.
(Don’t hesitate! This offer expires November 7.) Continue reading “Download Critical Trading Lessons | Support and Resistance Levels”

Euro Currency Futures Market | Daily Mini S&P 500 Futures Chart | Support and Resistance Levels

Posted on by Ilan

 

In this post:

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

divider black 190

1. Market Commentary

HUGE upside move….

I mentioned last week that I expect a BIG move and provided two scenarios (please see blog from Oct. 21st)….If I could only know for sure which way the move will go….hindsight is 20/20

The big question is whats ahead for stock index futures ( mini SP500, Mini Dow, Mini NASDAQ 100, Mini Russell 2000 and the rest of the family…). It seems that right now, the main factor is Europe. Continue reading “Euro Currency Futures Market | Daily Mini S&P 500 Futures Chart | Support and Resistance Levels”

Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels

divider black 190

1. Market Commentary

The market has exhausted me and I feel some what “drained” by the events that’s taken place in the market, so initially I wasn’t going to write anything other than wish you good trading but then decided to write a few words on that topic exactly….

Trading is not something you can do at 50% or 70%…You must be 100% focused, 100% alert, 100% NOT distracted etc.

Too many times, traders will try to day trade while doing other things, being distracted, maybe not 100% focused in result of markets punishing them.

So as hard as it may be and I know it is, if you know that on a certain day or time, you will be distracted by other things or your attention will be needed some where else or maybe you just don’t feel like yourself and feeling more tired than usual…THAN what separates “the man from the boys” is the ability to say” Today I am NOT going to trade” understanding that no trade is better than a bad trade is a big part of capital preservation which is a key for survival and hopefully success to follow. Continue reading “Support and Resistance Levels”

Daily Mini S&P 500 Futures Chart | Support and Resistance Levels

Posted on by Ilan

In this post:

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

divider black 190

1. Market Commentary

EU economic summit all day tomorrow along with some other economic news out of the US will provide the markets with some news to digest.

As I mentioned over the last few days, i still don’t have a clear direction of where this market is headed and either way, i expect volatility to continue. Continue reading “Daily Mini S&P 500 Futures Chart | Support and Resistance Levels”

Important Price Levels SP 500 – Market Leader | Support and Resistance Levels

Posted on by Ilan

In this post:

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

divider black 190

1. Market Commentary

Volatility remains high and what I wrote the last few days, still holds:

As far as the daily chart, I am now confused again….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks.

With the close today I am now leaning towards the long side…..BUT still not excited about the risk / reward scenario. Continue reading “Important Price Levels SP 500 – Market Leader | Support and Resistance Levels”

Commodities Market Volatility Continues | Support and Resistance Levels

Posted on by Ilan

In this post:

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

divider black 190

1. Market Commentary

Volatility remains high and what I wrote the last few days, still holds:

As far as the daily chart, I am now confused again….I got tempted on the short side and got burnt very quickly today….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks. Continue reading “Commodities Market Volatility Continues | Support and Resistance Levels”

Trading Levels & Economic Reports for 10-20-2011

Posted on by Ilan

 

In this post:

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

divider black 190

1. Market Commentary

Volatility remains high and what I wrote yesterday, still holds:

As far as the daily chart, I am now confused again….I got tempted on the short side and got burnt very quickly today….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks.

One more point that I would like to add that have helped me when I followed and hurt me when I ignored…

When volatility is higher than normal, like we have now, I try to REDUCE my trading size. This allows me to stay in a trade with higher comfort level instead of getting out too soon from winners and too late from losers….The principal is correct regardless of volatility but even more so when markets experience fast and sharp moves. Continue reading “Trading Levels & Economic Reports for 10-20-2011”

Trading Levels & Economic Reports for 10-19-2011

Posted on by Ilan

In this post: 1. Market Commentary 2. Support and Resistance Levels 3. Daily Mini Mini S&P 500 Futures Chart divider black 190

1. Market Commentary

Tremendous volatility across the markets today with some news out of Europe moving most markets much higher. As far as the daily chart, I am now confused again….I got tempted on the short side and got burnt very quickly today….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks. Fast and furious moves like we have seen today encourage me to revisit the point of using AUTO stops when day trading. Many traders will disagree with me but I have seen the markets make such fast moves that by the time one decides where and when to place a stop…the market already made a very powerful move against you. I think that as a day trader who is looking to only make a few ticks on the trade, you should decide on the appropriate worst case scenario stop ( measured in ticks or $$) and use your trading software to place these stops and/ or targets as soon as you enter your position. Most of our trading platforms have that feature and your broker will be more than happy to review it with you. Continue reading “Trading Levels & Economic Reports for 10-19-2011”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.