FOMC Minutes Produce Fireworks 5.19.2016
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Voted #1 futures trading blog!
FOMC minutes produced quite a bit of fireworks in bonds, metals and stock indices!
One must know when certain reports come out, do homework as to prior experience/ market behavior ( look at your trading journal? notes?) and be ready.
I looked at prior FOMC and the related FOMC minutes for 2 markets I was trading today, gold and bonds in an attempt to make an educated speculation….today it worked, there are many days it doesn’t but at least i did my homework and stuck to my game plan.
Plan your trade, trade your plan!
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.
| Contract June 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2083.92 | 4419.17 | 17827 | 1131.63 | 96.13 |
| Resistance 2 | 2070.83 | 4389.08 | 17717 | 1120.77 | 95.67 |
| Resistance 1 | 2056.92 | 4361.17 | 17602 | 1110.53 | 95.43 |
| Pivot | 2043.83 | 4331.08 | 17492 | 1099.67 | 94.97 |
| Support 1 | 2029.92 | 4303.17 | 17377 | 1089.43 | 94.74 |
| Support 2 | 2016.83 | 4273.08 | 17267 | 1078.57 | 94.28 |
| Support 3 | 2002.92 | 4245.17 | 17152 | 1068.33 | 94.04 |
| Contract | June Gold | July Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1303.2 | 17.83 | 50.43 | 167 24/32 | 1.1391 |
| Resistance 2 | 1293.4 | 17.57 | 50.00 | 166 24/32 | 1.1358 |
| Resistance 1 | 1275.7 | 17.22 | 49.18 | 165 5/32 | 1.1292 |
| Pivot | 1265.9 | 16.97 | 48.75 | 164 5/32 | 1.1259 |
| Support 1 | 1248.2 | 16.62 | 47.93 | 162 18/32 | 1.1194 |
| Support 2 | 1238.4 | 16.36 | 47.50 | 161 18/32 | 1.1161 |
| Support 3 | 1220.7 | 16.01 | 46.68 | 159 31/32 | 1.1095 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 408.5 | 489.6 | 1096.42 | 383.43 | 2.11 |
| Resistance 2 | 404.5 | 486.7 | 1087.58 | 378.37 | 2.08 |
| Resistance 1 | 402.0 | 483.3 | 1081.42 | 375.53 | 2.04 |
| Pivot | 398.0 | 480.4 | 1072.58 | 370.47 | 2.02 |
| Support 1 | 395.5 | 477.1 | 1066.4 | 367.6 | 2.0 |
| Support 2 | 391.5 | 474.2 | 1057.58 | 362.57 | 1.96 |
| Support 3 | 389.0 | 470.8 | 1051.42 | 359.73 | 1.92 |
Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:00pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuMay 19 | 4:00am | EUR |
Current Account
|
19.6B | 19.0B | ||||
| 4:30am | GBP |
Retail Sales m/m
|
0.6% | -1.3% | |||||
| 7:30am | EUR |
ECB Monetary Policy Meeting Accounts
|
|||||||
| 8:30am | USD |
Philly Fed Manufacturing Index
|
3.2 | -1.6 | |||||
| USD |
Unemployment Claims
|
276K | 294K | ||||||
| 9:15am | USD |
FOMC Member Fischer Speaks
|
|||||||
| 10:00am | USD |
CB Leading Index m/m
|
0.4% | 0.2% | |||||
| 10:30am | USD |
FOMC Member Dudley Speaks
|
|||||||
| USD |
Natural Gas Storage
|
75B | 56B | ||||||
| 1:00pm | GBP |
MPC Member Vlieghe Speaks
|
|||||||
| Day 1 | ALL |
G7 Meetings
|
