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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 Wednesday June 01, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Voted #1 futures trading blog!
Sell in May and go away…did not happen….at least so far. Stocks finished the month strong and markets overall were somewhat quiet today, considering this was the last trading day of the month. Perhaps tired from the long weekend we had here in the US.
Won’t stay quite for long. We have EU rate decision early Thursday and monthly unemployment here in the US on Friday so I do expect volatility and volume to pick up.
I wish all of you a great trading month in June!
Monthly chart of gold futures for your review below:
GOOD TRADING
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| Contract June 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2121.25 | 4565.92 | 18086 | 1169.30 | 96.45 |
| Resistance 2 | 2112.50 | 4547.08 | 17997 | 1164.20 | 96.17 |
| Resistance 1 | 2103.50 | 4535.17 | 17885 | 1158.60 | 96.01 |
| Pivot | 2094.75 | 4516.33 | 17796 | 1153.50 | 95.73 |
| Support 1 | 2085.75 | 4504.42 | 17684 | 1147.90 | 95.58 |
| Support 2 | 2077.00 | 4485.58 | 17595 | 1142.80 | 95.30 |
| Support 3 | 2068.00 | 4473.67 | 17483 | 1137.20 | 95.14 |
| Contract | Aug. Gold | July Silver | July Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1243.9 | 16.51 | 51.04 | 165 10/32 | 1.1249 |
| Resistance 2 | 1232.2 | 16.38 | 50.57 | 164 11/32 | 1.1213 |
| Resistance 1 | 1224.8 | 16.18 | 49.75 | 163 22/32 | 1.1173 |
| Pivot | 1213.1 | 16.05 | 49.28 | 162 23/32 | 1.1138 |
| Support 1 | 1205.7 | 15.85 | 48.46 | 162 2/32 | 1.1098 |
| Support 2 | 1194.0 | 15.72 | 47.99 | 161 3/32 | 1.1062 |
| Support 3 | 1186.6 | 15.52 | 47.17 | 160 14/32 | 1.1022 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July Nat Gas |
| Resistance 3 | 418.7 | 488.3 | 1109.67 | 417.80 | 2.49 |
| Resistance 2 | 415.6 | 483.2 | 1102.83 | 412.40 | 2.40 |
| Resistance 1 | 410.2 | 473.8 | 1090.67 | 404.50 | 2.34 |
| Pivot | 407.1 | 468.7 | 1083.83 | 399.10 | 2.25 |
| Support 1 | 401.7 | 459.3 | 1071.7 | 391.2 | 2.2 |
| Support 2 | 398.6 | 454.2 | 1064.83 | 385.80 | 2.09 |
| Support 3 | 393.2 | 444.8 | 1052.67 | 377.90 | 2.04 |
Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:26pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedJun 1 | 2:00am | GBP |
Nationwide HPI m/m
|
0.3% | 0.2% | ||||
| 3:15am | EUR |
Spanish Manufacturing PMI
|
52.6 | 53.5 | |||||
| 3:45am | EUR |
Italian Manufacturing PMI
|
53.5 | 53.9 | |||||
| 3:50am | EUR |
French Final Manufacturing PMI
|
48.3 | 48.3 | |||||
| 3:55am | EUR |
German Final Manufacturing PMI
|
52.5 | 52.4 | |||||
| 4:00am | EUR |
Final Manufacturing PMI
|
51.5 | 51.5 | |||||
| 4:30am | GBP |
Manufacturing PMI
|
49.6 | 49.2 | |||||
| GBP |
Net Lending to Individuals m/m
|
5.3B | 9.3B | ||||||
| GBP |
M4 Money Supply m/m
|
0.2% | -0.4% | ||||||
| GBP |
Mortgage Approvals
|
68K | 71K | ||||||
| 9:45am | USD |
Final Manufacturing PMI
|
50.5 | 50.5 | |||||
| 10:00am | USD |
ISM Manufacturing PMI
|
50.5 | 50.8 | |||||
| USD |
Construction Spending m/m
|
0.5% | 0.3% | ||||||
| USD |
ISM Manufacturing Prices
|
58.0 | 59.0 | ||||||
| All Day | USD |
Total Vehicle Sales
|
17.2M | 17.4M | |||||
| 2:00pm | USD |
Beige Book
|