Jump to a section in this post:
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. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5. Economic Reports for Tuesday, January 10, 2012
1. Market Commentary
Still lighter volume than normal today….Choppy action.
Weekly chart for longer term view below:
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 | 1286.00 | 2381.17 | 12423 | 764.03 |
| Resistance Level 2 | 1281.50 | 2370.83 | 12382 | 758.17 |
| Resistance Level 1 | 1278.50 | 2358.67 | 12358 | 754.33 |
| Pivot Point | 1274.00 | 2348.33 | 12317 | 748.47 |
| Support Level 1 | 1271.00 | 2336.17 | 12293 | 744.63 |
| Support Level 2 | 1266.50 | 2325.83 | 12252 | 738.77 |
| Support Level 3 | 1263.50 | 2313.67 | 12228 | 734.93 |
3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds
| Contract | Feb. Gold | Dec. Euro | Jan. Crude Oil | March. Bonds |
| Resistance Level 3 | 1635.8 | 1.2940 | 104.38 | 144 29/32 |
| Resistance Level 2 | 1629.5 | 1.2865 | 103.27 | 144 10/32 |
| Resistance Level 1 | 1619.7 | 1.2822 | 102.33 | 143 21/32 |
| Pivot Point | 1613.4 | 1.2747 | 101.22 | 143 2/32 |
| Support Level 1 | 1603.6 | 1.2704 | 100.28 | 142 13/32 |
| Support Level 2 | 1597.3 | 1.2629 | 99.17 | 141 26/32 |
| Support Level 3 | 1587.5 | 1.2586 | 98.23 | 141 5/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | March Corn | March Wheat | Jan. Beans | March. Silver |
| Resistance Level 3 | 670.8 | 652.7 | 1267.50 | 2988.5 |
| Resistance Level 2 | 666.7 | 648.1 | 1251.00 | 2954.5 |
| Resistance Level 1 | 659.3 | 644.9 | 1242.00 | 2923.0 |
| Pivot Point | 655.2 | 640.3 | 1225.50 | 2889.0 |
| Support Level 1 | 647.8 | 637.2 | 1216.5 | 2857.5 |
| Support Level 2 | 643.7 | 632.6 | 1200.00 | 2823.5 |
| Support Level 3 | 636.3 | 629.4 | 1191.00 | 2792.0 |
5. Economic Reports
IBD/TIPP Economic Optimism
10:00am
Wholesale Inventories
10:00am
FOMC Member Williams Speaks
10:30am
FOMC Member Pianalto Speaks
11:10am