{"id":2637,"date":"2011-11-21T22:12:15","date_gmt":"2011-11-22T06:12:15","guid":{"rendered":"http:\/\/www.cannontrading.com\/daily\/?p=2637"},"modified":"2014-09-11T23:09:54","modified_gmt":"2014-09-12T07:09:54","slug":"the-importance-of-the-fomc-minutes-support-and-resistance-levels","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/the-importance-of-the-fomc-minutes-support-and-resistance-levels\/","title":{"rendered":"The Importance of the FOMC Minutes | Support and Resistance Levels"},"content":{"rendered":"

Jump to a section in this post:<\/span>
\n1. Market Commentary<\/a><\/strong>
\n2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000<\/a><\/strong>
\n3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds<\/a><\/strong>
\n4. Support and Resistance Levels – Corn, Wheat, Beans, Silver<\/a><\/strong>
\n5. Daily Mini S&P Chart<\/a><\/strong>
\n6. Economic Reports for Tuesday, November 22, 2011<\/a><\/strong><\/p>\n

\"\"
\n<\/a><\/p>\n

<\/a>1. Market Commentary<\/h3>\n

Last week ( Thursday to be exact) I shared the same chart below with the sell signal if we can break 1204.50 ( The market was trading around 1215 at that time). Well we broke below and pretty much got the first target in one trading day.<\/p>\n

Tomorrow we will have FOMC minutes, an important report which the market tends to react to or as I call it, “Market respects it”.<\/p>\n

If the market breaks above 1204.50 after the minutes, we may see a relief from selling, on the other hand if the market reacts bearishly to the report than 1147.50 and 1120 are next targets.<\/p>\n

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\n<\/a><\/p>\n

<\/a>2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Contract (Dec. 2011)<\/td>\nSP500
\n(big & Mini)<\/td>\n		Nasdaq100
\n(big & Mini)<\/td>\n		Dow Jones
\n(big & Mini)<\/td>\n		Mini Russell<\/td>\n<\/tr>\n<\/thead>\n
Resistance Level 3<\/td>\n1212.00<\/td>\n2265.00<\/td>\n11790<\/td>\n732.57<\/td>\n<\/tr>\n
Resistance Level 2<\/td>\n1204.65<\/td>\n2245.00<\/td>\n11705<\/td>\n724.03<\/td>\n<\/tr>\n
Resistance Level 1<\/td>\n1195.70<\/td>\n2226.00<\/td>\n11595<\/td>\n711.47<\/td>\n<\/tr>\n
Pivot Point<\/td>\n1188.35<\/td>\n2206.00<\/td>\n11510<\/td>\n702.93<\/td>\n<\/tr>\n
Support Level 1<\/td>\n1179.40<\/td>\n2187.00<\/td>\n11400<\/td>\n690.37<\/td>\n<\/tr>\n
Support Level 2<\/td>\n1172.05<\/td>\n2167.00<\/td>\n11315<\/td>\n681.83<\/td>\n<\/tr>\n
Support Level 3<\/td>\n1163.10<\/td>\n2148.00<\/td>\n11205<\/td>\n669.27<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

<\/a>3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nDec. Gold<\/td>\nDec. Euro<\/td>\nNov. Crude Oil<\/td>\nDec. Bonds<\/td>\n<\/tr>\n<\/thead>\n
Resistance Level 3<\/td>\n1746.9<\/td>\n1.3658<\/td>\n100.60<\/td>\n144 15\/32<\/td>\n<\/tr>\n
Resistance Level 2<\/td>\n1730.7<\/td>\n1.3600<\/td>\n99.23<\/td>\n144 7\/32<\/td>\n<\/tr>\n
Resistance Level 1<\/td>\n1702.8<\/td>\n1.3545<\/td>\n97.98<\/td>\n143 29\/32<\/td>\n<\/tr>\n
Pivot Point<\/td>\n1686.6<\/td>\n1.3487<\/td>\n96.61<\/td>\n143 21\/32<\/td>\n<\/tr>\n
Support Level 1<\/td>\n1658.7<\/td>\n1.3432<\/td>\n95.36<\/td>\n143 11\/32<\/td>\n<\/tr>\n
Support Level 2<\/td>\n1642.5<\/td>\n1.3374<\/td>\n93.99<\/td>\n143 3\/32<\/td>\n<\/tr>\n
Support Level 3<\/td>\n1614.6<\/td>\n1.3319<\/td>\n92.74<\/td>\n142 25\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\"\"
\n<\/a><\/p>\n

4.Support and Resistance Levels – Corn, Wheat, Beans, Silver<\/h3>\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nDec. Corn<\/td>\nDec. Wheat<\/td>\nJan. Beans<\/td>\nDec. Silver<\/td>\n<\/tr>\n
Resistance Level 3<\/td>\n626.3<\/td>\n618.3<\/td>\n1195.75<\/td>\n3403.2<\/td>\n<\/tr>\n
Resistance Level 2<\/td>\n618.8<\/td>\n610.2<\/td>\n1185.00<\/td>\n3322.3<\/td>\n<\/tr>\n
Resistance Level 1<\/td>\n608.3<\/td>\n600.8<\/td>\n1166.50<\/td>\n3226.7<\/td>\n<\/tr>\n
Pivot Point<\/td>\n600.8<\/td>\n592.7<\/td>\n1155.75<\/td>\n3145.8<\/td>\n<\/tr>\n
Support Level 1<\/td>\n590.3<\/td>\n583.3<\/td>\n1137.3<\/td>\n3050.2<\/td>\n<\/tr>\n
Support Level 2<\/td>\n582.8<\/td>\n575.2<\/td>\n1126.50<\/td>\n2969.3<\/td>\n<\/tr>\n
Support Level 3<\/td>\n572.3<\/td>\n565.8<\/td>\n1108.00<\/td>\n2873.7<\/td>\n<\/tr>\n<\/thead>\n<\/table>\n

\"\"
\n<\/a><\/p>\n

5. Daily Mini S&P Chart<\/h3>\n

Daily chart of mini SP500 for your review below along with potential lines of support and resistance.<\/strong><\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

\"\"
\n<\/a><\/p>\n

5. Economic Report for Tuesday November 22, 2011<\/h3>\n

Prelim GDP
\n8:30am<\/p>\n

Prelim GDP Price Index
\n8:30am<\/p>\n

Consumer Confidene
\n10:00am<\/p>\n

Richmond Manufacturing Index
\n10:00am<\/p>\n

FOMC Member Kocherlakota Speaks
\n1:00pm<\/p>\n

FOMC Meeting Minutes
\n2:00pm<\/p>\n","protected":false},"excerpt":{"rendered":"

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 – Corn, Wheat, Beans, Silver 5. Daily Mini S&P Chart 6. Economic Reports for Tuesday, November 22, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,61],"tags":[572,49],"class_list":["post-2637","post","type-post","status-publish","format-standard","hentry","category-future-trading-platform","category-futures-trading-2","tag-fomc-minutes","tag-support-and-resistance-levels"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/2637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=2637"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/2637\/revisions"}],"predecessor-version":[{"id":8198,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/2637\/revisions\/8198"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=2637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=2637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=2637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}