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 Friday, January 9, 2012
1. Market Commentary
Wishing all of you a great weekend.
Excellent reading material on our weekly newsletter:
https://www.cannontrading.com/news/trading-beliefs-hot-market-e-mini-dow-futures
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 | 1287.40 | 2384.00 | 12448 | 765.13 |
| Resistance Level 2 | 1282.30 | 2372.00 | 12406 | 759.07 |
| Resistance Level 1 | 1278.40 | 2362.00 | 12358 | 753.43 |
| Pivot Point | 1273.30 | 2350.00 | 12316 | 747.37 |
| Support Level 1 | 1269.40 | 2340.00 | 12268 | 741.73 |
| Support Level 2 | 1264.30 | 2328.00 | 12226 | 735.67 |
| Support Level 3 | 1260.40 | 2318.00 | 12178 | 730.03 |
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 | 1653.7 | 1.2914 | 104.65 | 145 22/32 |
| Resistance Level 2 | 1643.0 | 1.2867 | 103.73 | 144 15/32 |
| Resistance Level 1 | 1630.4 | 1.2797 | 102.73 | 143 24/32 |
| Pivot Point | 1619.7 | 1.2750 | 101.81 | 142 17/32 |
| Support Level 1 | 1607.1 | 1.2680 | 100.81 | 141 26/32 |
| Support Level 2 | 1596.4 | 1.2633 | 99.89 | 140 19/32 |
| Support Level 3 | 1583.8 | 1.2563 | 98.89 | 139 28/32 |
4. Support & Resistance Levels for Corn, Wheat, Beans and Silver
| Contract | March Corn | March Wheat | Jan. Beans | March. Silver |
| Resistance Level 3 | 654.2 | 639.7 | 1235.00 | 3013.3 |
| Resistance Level 2 | 651.8 | 636.6 | 1226.50 | 2979.7 |
| Resistance Level 1 | 647.7 | 630.7 | 1211.50 | 2924.3 |
| Pivot Point | 645.3 | 627.6 | 1203.00 | 2890.7 |
| Support Level 1 | 641.2 | 621.7 | 1188.0 | 2835.3 |
| Support Level 2 | 638.8 | 618.6 | 1179.50 | 2801.7 |
| Support Level 3 | 634.7 | 612.7 | 1164.50 | 2746.3 |
5. Economic Reports
German Trade Balance
2:00am
French Trade Balance
2:45am
Sentix Investor Confidence
4:30am
German Industrial Production
6:00am
FOMC Member Lockhart Speaks
12:40pm
Consumer Credit
3:00pm