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Trading Levels & Economic Reports for 10-18-2011

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart

1. Market Commentary

On Friday I wrote the following:

Interesting price action today and we closed right at the 1220 level I have been talking about these last few days.

 

Market closed right on the high and I think that price action on Monday will be very important to watch.

 

Follow through and a CLOSE above 1220 can open the door for a more significant rally, on the other hand if the market fails against this level and start picking up momentum on the downside, I will get a sell signal.

Well after seeing today’s price action, I think we may have more room to the downside. If we can take out 1188, we may see 1154.

REGARDLESS of your market view, trading direction etc., more important is how one manages the trade, calculate the risk and control one own emotions in a way that enables you to execute your game plan, which at times will produce winners and at times will produce losers.

GOOD TRADING!

2. Support and Resistance Levels

 

Contract (Dec. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1230.17 2444.33 11904 739.93
Resistance 2 1222.53 2416.42 11781 728.37
Resistance 1 1208.77 2372.83 11541 707.53
Pivot 1201.13 2344.92 11418 695.97
Support 1 1187.37 2301.33 11178 675.13
Support 2 1179.73 2273.42 11055 663.57
Support 3 1165.97 2229.83 10815 642.73

 

Contract Dec. Gold Dec. Euro Nov. Crude Oil Dec. Bonds
Resistance 3 1708.3 1.4033 90.07 142 2/32
Resistance 2 1698.7 1.3969 89.12 140 30/32
Resistance 1 1686.2 1.3851 87.77 140 10/32
Pivot 1676.6 1.3787 86.82 139 6/32
Support 1 1664.1 1.3669 85.47 138 18/32
Support 2 1654.5 1.3605 84.52 137 14/32
Support 3 1642.0 1.3487 83.17 136 26/32

3. Daily Mini Mini S&P 500 Futures Chart

Daily SP500 chart for your review below:

Tags: > Posted in: Futures Trading  

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