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A look at the Overall Market and Gold

Site Administrator | October 6, 2011

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What a wild ride it has been the past few days in the market!  After the past few days we have seen incredible volatility with the SPX having 2-3% rallies in a matter of minutes at some times.  We feel with the Non Farm Paryoll report due out tomorrow morning that we could see a quiet day (at least compared to the past few).  Having said that, it would be wise if you get a good trade off early to consider cutting size later in the afternoon as we expect trading to get a bit choppy before tomorrow's report.  A few of the important areas we are looking at from last night's globex (overnight) session in the ES Futures are 1130, 1133, 1145 and 1150.  If we break 1130, we expect support in the 1120-22 area and then 1116.  As far as the upside goes if the market challenges 1150 again, we expect the next resistance areas to be 1155-56, 1162 and then 1169.

We also take a look at Gold and the recent consolidation we have been seeing in that market in our Daily Report:

 

***Be sure to join us for our free educational event on learning to trade with a Day Job by REGISTERING HERE

Cheers,

The TradingPub

“Trade, Talk, Learn – Cheers to Success”

Follow us on TwitterWhat a wild ride it has been the past few days in the market!  After the past few days we have seen incredible volatility with the SPX having 2-3% rallies in a matter of minutes at some times.  We feel with the Non Farm Paryoll report due out tomorrow morning that we could see a quiet day (at least compared to the past few).  Having said that, it would be wise if you get a good trade off early to consider cutting size later in the afternoon as we expect trading to get a bit choppy before tomorrow's report.  A few of the important areas we are looking at from last night's globex (overnight) session in the ES Futures are 1130, 1133, 1145 and 1150.  If we break 1130, we expect support in the 1120-22 area and then 1116.  As far as the upside goes if the market challenges 1150 again, we expect the next resistance areas to be 1155-56, 1162 and then 1169.

We also take a look at Gold and the recent consolidation we have been seeing in that market in our Daily Report:

 

***Be sure to join us for our free educational event on learning to trade with a Day Job by REGISTERING HERE

Cheers,

The TradingPub

“Trade, Talk, Learn – Cheers to Success”

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