Trade With Caution, FOMC Day Tomorrow | Support and Resistance Levels

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.

Trade With Caution, FOMC Day Tomorrow | Support and Resistance Levels

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports
5. Earnings Releases

1. Market Commentary


Front month for Equities (eminis), currencies, bonds and financials and many other markets is now December. You should not be trading almost any September contract of any market.

Note to our clients who are trading with TransactAT:

The latest version is now TransactAT 5.2.2 (download). The newer version can be installed over the older version. Please contact you broker if you need any help.

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- FAST.

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, we may see more volatility during first couple of hours as well.

My SWING trading model is currently short the mini Russell from 693 ( target around 672, stop around 716) which may not suite everyone’s stomach ahead of the what maybe volatile overnight and tomorrows FOMC session, but chart for your review below.

If you would like to be included on my SWING trade ideas, send me an email.



Contract (Sept. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1228.73 2372.83 11718 724.10
Resistance 2 1221.62 2352.67 11597 716.20
Resistance 1 1208.93 2324.08 11463 701.20
Pivot 1201.82 2303.92 11342 693.30
Support 1 1189.13 2275.33 11208 678.30
Support 2 1182.02 2255.17 11087 670.40
Support 3 1169.33 2226.58 10953 655.40


Contract Dec. Gold Dec. Euro Nov. Crude Oil Dec. Bonds
Resistance 3 1857.3 1.3895 89.99 142 31/32
Resistance 2 1835.8 1.3816 88.84 142 10/32
Resistance 1 1821.1 1.3742 87.56 141 30/32
Pivot 1799.6 1.3663 86.41 141 9/32
Support 1 1784.9 1.3589 85.13 140 29/32
Support 2 1763.4 1.3510 83.98 140 8/32
Support 3 1748.7 1.3436 82.70 139 28/32

3. Daily Mini Russell 2000 Futures Chart from September 20th, 2011

Daily Mini Russell 2000 Futures Chart from September 20th, 2011

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

4. Economic Reports for Wednesday September 21th, 2011

Existing Home Sales
10:00am USD

Crude Oil Inventories
10:30am USD

FOMC Statement
2:15pm USD

Federal Funds Rate
2:15pm USD

Economics Report Source:

5. Earnings Releases

CCL Carnival Corp Q3 2011 Carnival Corporation & plc Earnings Release $ 1.63 n/a $ 1.62 20-Sep
CAG Conagra Foods Inc Q1 2012 Conagra Foods Inc Earnings Release $ 0.31 n/a $ 0.34 20-Sep BMO
ORCL Oracle Corp Q1 2012 Oracle Corp Earnings Release $ 0.47 n/a $ 0.42 20-Sep AMC
ADBE Adobe Systems Inc Q3 2011 Adobe Systems Earnings Release $ 0.54 n/a $ 0.54 20-Sep
AZO Autozone Inc Q4 2011 Autozone Inc Earnings Release $ 6.97 n/a $ 5.66 20-Sep BMO
ALOG Analogic Corp Q4 2011 Analogic Corp Earnings Release $ 0.40 n/a $ 0.56 20-Se



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