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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday May 17, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
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Survivor Day Trading
This article was published by the Stocks, Futures, & Options Magazine in September, 2007 and was written by our VP, Ilan Levy-Mayer. We think this article is timeless and whether you are beginner or advanced trader, you will enjoy it.
Perhaps the greatest luxury I have in this business is the ability to observe the experiences of many traders with different personalities, life schedules and risk capital, each trading in a variety of markets.
What most astute brokers realize is that, over time, as some individuals prematurely exit winners while others desperately cling to losers, Day trading is by definition a trade that is initiated and completed during the same trading day. In this wide category, you will find many types of traders. On one end of the spectrum are scalpers, who go for one or two ticks of profit several times a day in trades lasting just seconds. On the other side are speculators who stay in a position from the start of the day until the close. One of the main appeals of day trading for all types is that the trader goes home flat without having to worry about positions. When the market closes, the day is done. Money management, as the name implies, is applying prudent principles to help conserve your trade (risk) capital. Without risk capital to trade, a speculator does not have a chance to succeed.
Preserve Your Trading Capital
Just The liquidity and volume of markets including the E-mini S&P 500, U.S. 30-year bonds and many others are attracting increasing numbers of day traders. The speed of execution, the growth in technology and a continued trend toward lower commissions provides an attractive environment for day trading. Today, traders can take into account mixed markets that are open nearly 24 hours a day and offer low day-trading margins. It’s easy to understand the reason some futures markets are now considered day-trading heavens for many who previously traded stocks, foreign exchange and other instruments.
Please fill out the form below to download the “Survivor Day trading” PDF and read about:
Fear and Greed
Calculating daily profit targets and daily loss limits
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
| Contract June 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2109.33 | 4495.50 | 18053 | 1145.27 | 94.97 |
| Resistance 2 | 2088.92 | 4443.75 | 17879 | 1131.93 | 94.82 |
| Resistance 1 | 2075.83 | 4409.00 | 17769 | 1122.67 | 94.68 |
| Pivot | 2055.42 | 4357.25 | 17595 | 1109.33 | 94.53 |
| Support 1 | 2042.33 | 4322.50 | 17485 | 1100.07 | 94.38 |
| Support 2 | 2021.92 | 4270.75 | 17311 | 1086.73 | 94.23 |
| Support 3 | 2008.83 | 4236.00 | 17201 | 1077.47 | 94.09 |
| Contract | June Gold | July Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1305.9 | 17.74 | 50.33 | 168 2/32 | 1.1391 |
| Resistance 2 | 1298.2 | 17.59 | 49.16 | 167 15/32 | 1.1371 |
| Resistance 1 | 1287.1 | 17.39 | 48.50 | 166 19/32 | 1.1350 |
| Pivot | 1279.4 | 17.23 | 47.33 | 166 | 1.1330 |
| Support 1 | 1268.3 | 17.03 | 46.67 | 165 4/32 | 1.1309 |
| Support 2 | 1260.6 | 16.88 | 45.50 | 164 17/32 | 1.1289 |
| Support 3 | 1249.5 | 16.68 | 44.84 | 163 21/32 | 1.1268 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 403.8 | 486.1 | 1082.58 | 371.20 | 2.13 |
| Resistance 2 | 399.0 | 480.9 | 1075.17 | 367.80 | 2.11 |
| Resistance 1 | 396.5 | 477.8 | 1069.83 | 364.50 | 2.07 |
| Pivot | 391.8 | 472.7 | 1062.42 | 361.10 | 2.05 |
| Support 1 | 389.3 | 469.6 | 1057.1 | 357.8 | 2.0 |
| Support 2 | 384.5 | 464.4 | 1049.67 | 354.40 | 1.98 |
| Support 3 | 382.0 | 461.3 | 1044.33 | 351.10 | 1.94 |
Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:03pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueMay 17 | 4:00am | EUR |
Italian Trade Balance
|
4.21B | 3.86B | ||||
| 4:30am | GBP |
CPI y/y
|
0.5% | 0.5% | |||||
| GBP |
PPI Input m/m
|
1.1% | 2.0% | ||||||
| GBP |
RPI y/y
|
1.6% | 1.6% | ||||||
| GBP |
Core CPI y/y
|
1.5% | 1.5% | ||||||
| GBP |
HPI y/y
|
7.9% | 7.6% | ||||||
| GBP |
PPI Output m/m
|
0.2% | 0.3% | ||||||
| 5:00am | EUR |
Trade Balance
|
23.1B | 20.2B | |||||
| 6:00am | EUR |
German Buba Monthly Report
|
|||||||
| 8:30am | USD |
Building Permits
|
1.13M | 1.09M | |||||
| USD |
CPI m/m
|
0.4% | 0.1% | ||||||
| USD |
Core CPI m/m
|
0.2% | 0.1% | ||||||
| USD |
Housing Starts
|
1.12M | 1.09M | ||||||
| 9:15am | USD |
Capacity Utilization Rate
|
75.1% | 74.8% | |||||
| USD |
Industrial Production m/m
|
0.3% | -0.6% |