Report May Lead to Large Market Moves | Support and Resistance Levels
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Notice to the Futures Trader
4. Economic Reports
1. Market Commentary
The main thing about tomorrows report is the MARKET PERCEPTION of the data….
If the market takes the data in a positive way, we may see 1175 and maybe higher on the mini SP 500, on the other hand if the market “does not like the data”…then 1129 will be the first stop on the way down.
By the way you can listen to the SP500 squawk box live tomorrow ( you can login before the market open and listen to the un employment data as it comes out live.)
The trial is open this week and will be available until market close on Oct.7th so visit: traderaudio.com to start listening now.
Username: open
Password: squawk
GOOD TRADING!
2. SUPPORT AND RESISTANCE LEVELS!
| Contract (Dec. 2011) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1200.40 | 2295.75 | 11426 | 699.57 |
| Resistance 2 | 1180.45 | 2254.75 | 11245 | 685.33 |
| Resistance 1 | 1169.10 | 2230.50 | 11148 | 676.87 |
| Pivot | 1149.15 | 2189.50 | 10967 | 662.63 |
| Support 1 | 1137.80 | 2165.25 | 10870 | 654.17 |
| Support 2 | 1117.85 | 2124.25 | 10689 | 639.93 |
| Support 3 | 1106.50 | 2100.00 | 10592 | 631.47 |
| Contract | Dec. Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
| Resistance 3 | 1681.0 | 1.3720 | 87.78 | 144 17/32 |
| Resistance 2 | 1668.1 | 1.3583 | 85.34 | 144 3/32 |
| Resistance 1 | 1659.0 | 1.3510 | 83.96 | 143 7/32 |
| Pivot | 1646.1 | 1.3373 | 81.52 | 142 25/32 |
| Support 1 | 1637.0 | 1.3300 | 80.14 | 141 29/32 |
| Support 2 | 1624.1 | 1.3163 | 77.70 | 141 15/32 |
| Support 3 | 1615.0 | 1.3090 | 76.32 | 140 19/32 |
3. Notice to the Futures Trader
4. Economic Reports for Friday October 7, 2011
Non-Farm Employment Change
8:30am
Unemployment Rate
8:30am
Average Hourly Earnings m/m
8:30am
Wholesale Inventories m/m
10:00am
Consumer Credit m/m
3:00pm
Economics Report Source: http://www.forexfactory.com/calendar.php
