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Behavior of Markets Last Trading Day of the Month 8.31.2016

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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 Wednesday August 31, 2016

Hello Traders,

Greetings!

December bonds are now front month for those of you trading bonds, ten years etc.!

December silver and December gold are also the front month!

Tomorrow is the last trading day of the month. Certain markets will experience certain trading behavior on the last trading day of the month.

Bonds are known to make some sharp moves right around 1:30 Central time ( 30 minutes before what used to be the pit close)

Here is a bond chart from last month’s last trading day….Pay attention to the WIDE range during the whole day and the large moves in the last hour!
Bond Chart July 31st 2016

Also tomorrow is Wednesday. Crude Oil numbers come out.

Here is what Crude did last week….1 minute chart right before and after report came out…
Crude 1 Minute Chart

Keep a trading journal! Write notes.

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

Levels for Trade Date of  8.31.2016

Contract Sept. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2195.00 4835.33 18622 1257.73 96.91
Resistance 2 2188.25 4816.92 18568 1252.97 96.52
Resistance 1 2182.00 4796.58 18508 1249.43 96.29
Pivot 2175.25 4778.17 18454 1244.67 95.90
Support 1 2169.00 4757.83 18394 1241.13 95.67
Support 2 2162.25 4739.42 18340 1236.37 95.28
Support 3 2156.00 4719.08 18280 1232.83 95.05
Contract Dec. Gold Dec. Silver Oct. Crude Oil Dec. Bonds Sept.   Euro
Resistance 3 1341.2 19.32 48.48 171 7/32 1.1248
Resistance 2 1335.0 19.18 47.99 170 29/32 1.1224
Resistance 1 1324.3 18.93 47.20 170 20/32 1.1188
Pivot 1318.1 18.79 46.71 170 10/32 1.1164
Support 1 1307.4 18.53 45.92 170 1/32 1.1128
Support 2 1301.2 18.39 45.43 169 23/32 1.1104
Support 3 1290.5 18.14 44.64 169 14/32 1.1068
Contract Dec. Corn Dec. Wheat Nov. Beans Dec. SoyMeal Oct. Nat Gas
Resistance 3 324.4 407.0 981.00 322.57 3.04
Resistance 2 322.6 403.8 973.25 319.43 2.99
Resistance 1 319.2 398.0 962.00 314.07 2.91
Pivot 317.3 394.8 954.25 310.93 2.86
Support 1 313.9 389.0 943.0 305.6 2.8
Support 2 312.1 385.8 935.25 302.43 2.74
Support 3 308.7 380.0 924.00 297.07 2.66

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

All times are Eastern time Zone (EST)

Date 4:10pm Currency Impact Detail Actual Forecast Previous Graph
WedAug 31 2:00am EUR
German Retail Sales m/m
0.5% -0.1%
GBP
Nationwide HPI m/m
-0.1% 0.5%
2:45am EUR
French Consumer Spending m/m
0.3% -0.8%
EUR
French Prelim CPI m/m
0.4% -0.4%
3:55am EUR
German Unemployment Change
-2K -7K
4:00am EUR
Italian Monthly Unemployment Rate
11.5% 11.6%
5:00am EUR
CPI Flash Estimate y/y
0.3% 0.2%
EUR
Core CPI Flash Estimate y/y
0.9% 0.9%
EUR
Italian Prelim CPI m/m
0.1% 0.2%
EUR
Unemployment Rate
10.0% 10.1%
8:15am USD
ADP Non-Farm Employment Change
173K 179K
9:45am USD
Chicago PMI
54.1 55.8
10:00am USD
Pending Home Sales m/m
0.7% 0.2%
10:30am USD
Crude Oil Inventories
1.1M 2.5M

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.

Tags: > Posted in: Future Trading News  

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