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1. Market Commentary
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 Wednesday, November 30, 2011
As November is almost behind us, (tomorrow is the last trading day for November ) I thought it would be appropriate to share the mini SP monthly chart for a MUCH longer term picture.
I know most of the readers of this blog are day-traders by nature but it is always wise to have a view of different time frames.
Monthly chart below, along with some possible Elliott Wave counts as well as some Fibonacci retracement levels.
Also heads up, if you are trading GOLD, SILVER, BONDS and GRAINS, it is time to trade the March contract for these markets ( February Gold) as December is entering delivery period.
Continue reading “Monthly Continuation Chart | Support and Resistance Levels”