Big Volatility in Stock Index Futures Last Two Days – Levels for 09.13.16

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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 Friday September 9, 2016

Greetings!

Front month for stock indices is December!!

I looked for some news that may explain the large sell off Friday and almost the same level of bounce today….I saw a few things but must admit none made sense to me, so my clients who are “conspiracy theory believers” may have won this one…..

I saw something about Fed officials speaking today “infused confidence back”, saw another thing that Friday was due to North Korea nuclear tests…yet another explanation spoke about rollover. Another news flash spoke about possibly removing some of the stocks from the financial segment of the SP500, specifically “good performing real estate stocks from the financial/ banking sector…..not to mention the “9/11” effect….and more and more etc. etc…..

My guess is the FED once again too concerned with keeping stock market prices higher than the paying attention to the rest of the economy…..I feel that QE in general and other FED action created artificially higher stock market prices which will one day explode in a violent way. But that is a topic for a whole new discussion.

Bottom line is I have no explanation but here is what the hourly and daily charts look like:

DAILY

S&P 500 Futures Daily Chart
Hourly
S&P 500 Futures Hourly Chart

GOOD TRADING

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Futures Trading Levels

Levels for Trade Date of 9.13.2016

Contract Dec. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2227.33 4955.92 18863 1274.57 95.95
Resistance 2 2191.67 4862.33 18570 1253.03 95.70
Resistance 1 2171.58 4812.42 18407 1241.67 95.42
Pivot 2135.92 4718.83 18114 1220.13 95.17
Support 1 2115.83 4668.92 17951 1208.77 94.90
Support 2 2080.17 4575.33 17658 1187.23 94.65
Support 3 2060.08 4525.42 17495 1175.87 94.37
Contract Dec. Gold Dec. Silver Oct. Crude Oil Dec. Bonds Sept.   Euro
Resistance 3 1345.9 19.85 48.61 167 31/32 1.1328
Resistance 2 1339.8 19.55 47.56 167 18/32 1.1301
Resistance 1 1335.4 19.37 46.82 167 5/32 1.1268
Pivot 1329.3 19.07 45.77 166 24/32 1.1241
Support 1 1324.9 18.89 45.03 166 11/32 1.1208
Support 2 1318.8 18.59 43.98 165 30/32 1.1181
Support 3 1314.4 18.41 43.24 165 17/32 1.1148
Contract Dec. Corn Dec. Wheat Nov. Beans Dec. SoyMeal Oct. Nat Gas
Resistance 3 351.1 420.8 1014.50 333.17 3.05
Resistance 2 347.2 415.4 1002.25 327.23 2.98
Resistance 1 343.3 412.3 983.25 319.57 2.94
Pivot 339.4 406.9 971.00 313.63 2.88
Support 1 335.6 403.8 952.0 306.0 2.8
Support 2 331.7 398.4 939.75 300.03 2.78
Support 3 327.8 395.3 920.75 292.37 2.73

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

All times are Eastern time Zone (EST)

Date

3:51pm Currency Impact Detail Actual Forecast Previous Graph
TueSep 13  2:00am EUR
German Final CPI m/m
0.0% 0.0%
EUR
German WPI m/m
0.1% 0.2%
4:00am EUR
Italian Industrial Production m/m
0.2% -0.4%
5:00am EUR
ECB President Draghi Speaks
EUR
German ZEW Economic Sentiment
2.8 0.5
EUR
ZEW Economic Sentiment
6.7 4.6
EUR
Employment Change q/q
0.2% 0.3%
6:00am USD
NFIB Small Business Index
94.9 94.6
1:01pm USD
30-y Bond Auction
2.27|2.2
2:00pm USD
Federal Budget Balance
-98.0B -112.8B

 

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