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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 August 04, 2016
Hello Traders,
Stock index futures have been choppy recently and “counter trend” methods seem to work better than others. That will change once the market breaks down sooner or later and volatility returns.
On the other hand we have markets like gold and crude that make big moves more often than not…just different type of personalities of different markets.
One tool I have been using more and more recently, is the Edge. A daily newsletter published by ExitPoints.com which provides you what markets to pay attention to and WHICH direction to attack that specific market from.
Today they provided me with two good ones, gold from the short side and crude oil from the long side.
If you have not had a trial for this service, I recommend signing up for the FREE TRIAL and then UTILIZING a Cannon broker to get a better feel on how one might use this newsletter and information.
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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| Contract Sept. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2174.25 | 4767.25 | 18394 | 1230.13 | 96.15 |
| Resistance 2 | 2166.25 | 4748.00 | 18338 | 1220.47 | 95.85 |
| Resistance 1 | 2161.25 | 4736.50 | 18301 | 1215.23 | 95.68 |
| Pivot | 2153.25 | 4717.25 | 18245 | 1205.57 | 95.38 |
| Support 1 | 2148.25 | 4705.75 | 18208 | 1200.33 | 95.21 |
| Support 2 | 2140.25 | 4686.50 | 18152 | 1190.67 | 94.91 |
| Support 3 | 2135.25 | 4675.00 | 18115 | 1185.43 | 94.74 |
| Contract | Aug. Gold | Sept. Silver | Sept. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1384.5 | 21.05 | 43.74 | 173 30/32 | 1.1305 |
| Resistance 2 | 1379.0 | 20.91 | 42.45 | 173 9/32 | 1.1275 |
| Resistance 1 | 1371.7 | 20.69 | 41.77 | 172 23/32 | 1.1222 |
| Pivot | 1366.2 | 20.55 | 40.48 | 172 2/32 | 1.1192 |
| Support 1 | 1358.9 | 20.32 | 39.80 | 171 16/32 | 1.1139 |
| Support 2 | 1353.4 | 20.18 | 38.51 | 170 27/32 | 1.1109 |
| Support 3 | 1346.1 | 19.96 | 37.83 | 170 9/32 | 1.1056 |
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Sept. Nat Gas |
| Resistance 3 | 343.2 | 430.2 | 978.17 | 334.77 | 3.04 |
| Resistance 2 | 340.8 | 422.6 | 972.33 | 332.13 | 2.96 |
| Resistance 1 | 337.9 | 416.4 | 963.92 | 329.27 | 2.90 |
| Pivot | 335.6 | 408.8 | 958.08 | 326.63 | 2.81 |
| Support 1 | 332.7 | 402.7 | 949.7 | 323.8 | 2.8 |
| Support 2 | 330.3 | 395.1 | 943.83 | 321.13 | 2.67 |
| Support 3 | 327.4 | 388.9 | 935.42 | 318.27 | 2.61 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:15pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuAug 4 | 4:00am | EUR |
ECB Economic Bulletin
|
||||||
| 4:10am | EUR |
Retail PMI
|
48.5 | ||||||
| Tentative | EUR |
French 10-y Bond Auction
|
0.16|2.5 | ||||||
| 7:00am | GBP |
BOE Inflation Report
|
|||||||
| GBP |
MPC Official Bank Rate Votes
|
0-9-0 | 0-1-8 | ||||||
| GBP |
Monetary Policy Summary
|
||||||||
| GBP |
Official Bank Rate
|
0.25% | 0.50% | ||||||
| GBP |
Asset Purchase Facility
|
375B | 375B | ||||||
| GBP |
MPC Asset Purchase Facility Votes
|
0-0-9 | 0-0-9 | ||||||
| 7:30am | GBP |
BOE Gov Carney Speaks
|
|||||||
| USD |
Challenger Job Cuts y/y
|
-14.1% | |||||||
| 8:30am | USD |
Unemployment Claims
|
265K | 266K | |||||
| 10:00am | USD |
Factory Orders m/m
|
-1.8% | -1.0% | |||||
| 10:30am | USD |
Natural Gas Storage
|
17B |