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FOMC Minutes Produce Fireworks 5.19.2016

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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 May 19, 2016

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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels 

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

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   | Futures Trading  

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