Jump to a section in this post:
1. Market Commentary and Thanksgiving Day Trading Schedule
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Daily Mini S&P Chart
6. Economic Reports for Wednesday, November 23, 2011
Market Commentary and Thanksgiving Day Trading Schedule
Happy Thanksgiving to all of you!
Make sure you pay attention to trading hours for both Thursday and Friday this week.
Detailed hours are below the chart.
As far as market outlook, my view last week came true and the question now is how far this sell off will continue.
From Nov. 17th blog: Bearish close today on stock index futures and as I mentioned yesterday, a break below 1204 on the Dec. SP 500 can trigger another leg down.
Thanksgiving Day Trading Schedule
Wednesday, November 23 Hours
CME Group (Floor)
Regular Close
NYMEX (Floor)
Regular Close
GLOBEX
Regular Close/Open
* Exceptions: Livestock, GSCI, Lumber, Crude Palm Oil, Weather, Grain, Ethanol and Dairy products
ICE
Regular Close/Open
EUREX
Regular Close
OneChicago
Regular Close
NYSE
Regular Close
Forex
Regular Close
Thursday, November 24 Hours
CME Group (Floor)
Closed
NYMEX (Floor)
Closed
GLOBEX
Closed: Livestock, GSCI, Lumber, Crude Palm Oil, Weather, Grain, Ethanol and Dairy products
10:30 am Close: Equity products
12:00 pm Close: Interest Rate, Foreign Exchange, Real Estate and Forestry products
12:15 pm Close: Green Exchange, NYMEX, COMEX and DME products
*Trading Resumes at the times listed below*
5:00 pm Open: Equity, Interest Rate, Foreign Exchange, Crude Palm Oil, Livestock, GSCI, Forestry, Weather, Real Estate, Green Exchange and NYMEX/COMEX/DME products
6:00 pm Open: CBOT/KCBT/MGEX Grain and Ethanol products
*Dairy products will remain closed until their regularly scheduled open on Sunday, November 27th
ICE
Closed: Soft and Open outcry products
10:30 am Close: Index products
12:00 pm Close: Financial products
EUREX
Closed: Hurricane Futures, US, Canadian and Brazilian Equity Derivatives (No cash payment in USD)
*All other products regular close
OneChicago
Closed
NYSE
Closed
Forex
Regular Close
Friday, November 25 Hours
CME Group (Floor)
Closed: Dairy
12:00 pm Close: Foreign Exchange, Interest Rates, Commodities, GSCI, Weather and Real Estate products
12:02 pm Close: CME Commodity options
12:15 pm Close: Equity products
12:30 pm Close: CBOT Mini-Grains
NYMEX (Floor)
12:30 pm Close
GLOBEX
Closed: Dairy products
12:00 pm Close: Agricultural, CBOT Grain futures & options, Ethanol, KCBT Grain, Forestry, Weather and GSCI products
12:02 pm Close: CME Commodity options
12:15 pm Close: Equity, Interest Rate, Foreign Exchange, Real Estate, MGEX Grain and KOSPI 200 products
12:30 pm Close: CBOT Mini-Grains
12:45 pm Close: Green Exchange and NYMEX/COMEX/DME products
ICE
11:45 Close: Open Outcry Soft products
12:00 Close: Soft and Open Outcry Financial products
12:15 Close: Financial, Index and Open Outcry Index products
EUREX
Regular Close
OneChicago
12:00 pm Close
NYSE
12:00 pm Close
Forex
Regular Close
*All times listed in Central Time
The above calendar is compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The closing times for certain contracts may have been rescheduled.
Please visit CME at:
http://www.cmegroup.com/tools-information/holiday-calendar/files/2011-thanksgiving.pdf
and the ICE exchange at
https://www.theice.com/marketdata/calendar/CalendarList.shtml?calendar=Holiday&calendar=SpecialTradingHours&markets=ICE%20Futures%20Europe&markets=ICE%20Futures%20Canada&markets=ICE%20OTC&markets=ICE%20Futures%20U.S.&markets=ICE%20Trust%20U.S.&markets=ICE%20Clear%20Europe%20CDS
GOOD TRADING!
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
| Contract (Dec. 2011) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
| Resistance Level 3 | 1190.00 | 2233.33 | 11505 | 710.67 |
| Resistance Level 2 | 1183.00 | 2217.67 | 11440 | 702.13 |
| Resistance Level 1 | 1175.00 | 2199.33 | 11370 | 689.27 |
| Pivot Point | 1168.00 | 2183.67 | 11305 | 680.73 |
| Support Level 1 | 1160.00 | 2165.33 | 11235 | 667.87 |
| Support Level 2 | 1153.00 | 2149.67 | 11170 | 659.33 |
| Support Level 3 | 1145.00 | 2131.33 | 11100 | 646.47 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | Dec. Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
| Resistance Level 3 | 1728.8 | 1.3698 | 100.30 | 147 10/32 |
| Resistance Level 2 | 1714.7 | 1.3614 | 99.08 | 146 11/32 |
| Resistance Level 1 | 1705.3 | 1.3486 | 97.78 | 145 25/32 |
| Pivot Point | 1691.2 | 1.3402 | 96.56 | 144 26/32 |
| Support Level 1 | 1681.8 | 1.3274 | 95.26 | 144 8/32 |
| Support Level 2 | 1667.7 | 1.3190 | 94.04 | 143 9/32 |
| Support Level 3 | 1658.3 | 1.3062 | 92.74 | 142 23/32 |
4.Support and Resistance Levels – Corn, Wheat, Beans, Silver
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. Silver |
| Resistance Level 3 | 615.1 | 623.0 | 1183.17 | 3440.7 |
| Resistance Level 2 | 608.2 | 614.8 | 1170.83 | 3363.8 |
| Resistance Level 1 | 598.1 | 604.5 | 1145.67 | 3275.7 |
| Pivot Point | 591.2 | 596.3 | 1133.33 | 3198.8 |
| Support Level 1 | 581.1 | 586.0 | 1108.2 | 3110.7 |
| Support Level 2 | 574.2 | 577.8 | 1095.83 | 3033.8 |
| Support Level 3 | 564.1 | 567.5 | 1070.67 | 2945.7 |
5. Daily Mini S&P Chart
6. Economic Reports
German Final GDP
2:00am
German Ifo Business Climae
4:00am
Bank Holiday
All Day
Belgium NBB Business Climate
9:00am
German Import Prices
2:00am
Italian Retail Sales
4:00am