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.
Jump to a section in this post:
1. Educational Feature: Dealing With Losing Trades
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Economic Reports for Thursday November 3, 2011
Continue reading “Dealing with Losing Trades | Support and Resistance Levels”
Jump to a section in this post:
1. Real Time Day Trading Signals Service
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Economic Reports for Thursday November 3, 2011
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| Contract (Dec. 2011) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
| Resistance Level 3 | 1255.50 | 2362.00 | 12055 | 751.47 |
| Resistance Level 2 | 1246.95 | 2343.00 | 11936 | 741.63 |
| Resistance Level 1 | 1240.10 | 2330.00 | 11854 | 734.67 |
| Pivot Point | 1231.55 | 2311.00 | 11735 | 724.83 |
| Support Level 1 | 1224.70 | 2298.00 | 11653 | 717.87 |
| Support Level 2 | 1216.15 | 2279.00 | 11534 | 708.03 |
| Support Level3 | 1209.30 | 2266.00 | 11452 | 701.07 |
| Contract | Dec. Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
| Resistance Level 3 | 1773.2 | 1.4021 | 96.63 | 143 26/32 |
| Resistance Level 2 | 1759.4 | 1.3923 | 95.21 | 142 31/32 |
| Resistance Level 1 | 1748.1 | 1.3829 | 93.81 | 142 16/32 |
| Pivot Point | 1734.3 | 1.3731 | 92.39 | 141 21/32 |
| Support Level 1 | 1723.0 | 1.3637 | 90.99 | 141 6/32 |
| Support Level 2 | 1709.2 | 1.3539 | 89.57 | 140 11/32 |
| Support Level 3 | 1697.9 | 1.3445 | 88.17 | 139 28/32 |
Unemployment Claims
8:30am
Prelim Nonfarm PRoductivity q/q
8:30am
Prelim Unit Labor Costs q/q
8:30am
Minimum Bid Rate
8:45am
ECB Press Conference
9:30am
ISM Non-Manufacturing PMI
10:00am
Factory Orders m/m
10:00am
Natural Gas Storage
10:30am
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
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.
| 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”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart
Wishing all of you a great trading month in November!
| 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 |
In this post:
1. Market Commentary
2. Support and Resistance Levels
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(Don’t hesitate! This offer expires November 7.) Continue reading “Download Critical Trading Lessons | Support and Resistance Levels”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart
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”
In this post:
1. Market Commentary
2. Support and Resistance Levels
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”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart
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”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart
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”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart
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”