BREXIT May Create Extreme Volatility 6.23.2016

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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 Thursday June 23, 2016

Hello Traders,

Much has been written about the vote in the UK to exit or stay with the European Union, “BREXIT”.

The voting begins at 7AM (UK) and closes at 10PM (UK) on Thursday June 23.

We expect this to create some extreme volatility in many markets for the next few days and encourage all of you to  be aware and use conservative approach rather than aggressive approach.

A quick article/outlook with chart I wrote for Equities.com

https://www.equities.com/news/the-million-dollar-question-the-british-pound-and-brexit

While some of our platforms will maintain normal day trading margins, other platforms will require higher day trading margins over the next few days.

Most markets will require 100% of the overnight margins for day trading as well with some markets like currencies may even require 200%. This will not affect our clients trading with transactAT or Shogun at this time.

Feel free to call us at 800-454-9572 with any questions.

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.

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Futures Trading Levels 

Contract Sept. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2102.58 4464.67 17930 1167.23 94.85
Resistance 2 2096.92 4449.33 17878 1162.37 94.52
Resistance 1 2086.58 4421.67 17778 1153.03 94.17
Pivot 2080.92 4406.33 17726 1148.17 93.84
Support 1 2070.58 4378.67 17626 1138.83 93.49
Support 2 2064.92 4363.33 17574 1133.97 93.16
Support 3 2054.58 4335.67 17474 1124.63 92.81
Contract Aug. Gold July Silver Aug. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1283.1 17.62 52.45 168 23/32 1.1486
Resistance 2 1278.3 17.49 51.49 168 9/32 1.1430
Resistance 1 1273.4 17.39 50.31 167 31/32 1.1383
Pivot 1268.6 17.26 49.35 167 17/32 1.1327
Support 1 1263.7 17.16 48.17 167 7/32 1.1280
Support 2 1258.9 17.03 47.21 166 25/32 1.1224
Support 3 1254.0 16.93 46.03 166 15/32 1.1177
Contract July Corn July Wheat July Beans July SoyMeal July Nat Gas
Resistance 3 406.5 470.3 1142.33 400.47 2.87
Resistance 2 403.5 467.8 1132.92 398.13 2.82
Resistance 1 398.3 463.3 1124.83 394.57 2.75
Pivot 395.3 460.8 1115.42 392.23 2.70
Support 1 390.0 456.3 1107.3 388.7 2.6
Support 2 387.0 453.8 1097.92 386.33 2.58
Support 3 381.8 449.3 1089.83 382.77 2.51

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:44pm Currency Impact Detail Actual Forecast Previous Graph
ThuJun 23  3:00am EUR
French Flash Manufacturing PMI
48.8 48.4
EUR
French Flash Services PMI
51.5 51.6
3:30am EUR
German Flash Manufacturing PMI
52.1 52.1
EUR
German Flash Services PMI
55.0 55.2
4:00am EUR
Flash Manufacturing PMI
51.4 51.5
EUR
Flash Services PMI
53.2 53.3
All Day GBP
EU Membership Vote
Tentative EUR
Long Term Refinancing Option
7.3B
8:30am USD
Unemployment Claims
271K 277K
9:00am EUR
Belgian NBB Business Climate
-2.9 -2.8
9:45am USD
Flash Manufacturing PMI
50.5 50.7
10:00am USD
New Home Sales
561K 619K
USD
CB Leading Index m/m
0.2% 0.6%
10:30am USD
Natural Gas Storage
59B 69B

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.