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Futures Trading Levels and Economic Reports for June 20, 2013

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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 June 20, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

Another FOMC meeting is behind us and while traders try to read between the lines and get an idea for the FED future actions, the markets are reacting with some volatility and big initial moves.

 

Currencies, metals, interest rates, Stock Indices dropped significantly.

In the past I have seen the real reaction to follow the next day, so i will pay attention to markets direction and closing prices tomorrow in hope of getting a feel for the medium term direction.

In my opinion, US Bond futures will be the leader of the next move. All eyes are on the FED and their QE program/ bond buying program. This has been the major force behind the markets for many months.

Bonds have reached what I call GO/ NO GO level. A critical decision level as you can see from looking at the daily chart below.

Currently the market is sitting on a support/ potential double bottom level at 137.25 area. If market starts trading below that and stay below the 138 level, we may see a new range and another leg down for bond futures. If the market bounces from this level and starts trading higher, this may signal that the 137.25 area is a strong support level, a strong demand level and we may see a counter wave move going higher. I think that price action over next two days will provide better clues.

us bonds futures daily chart

 

 

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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.

 

Futures Trading Levels

Contract Sept. 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1666.83 3030.83 15429 1010.77 83.01
Resistance 2 1657.92 3014.92 15354 1004.83 82.34
Resistance 1 1641.08 2986.08 15205 993.97 81.96
Pivot 1632.17 2970.17 15130 988.03 81.29
Support 1 1615.33 2941.33 14981 977.17 80.91
Support 2 1606.42 2925.42 14906 971.23 80.24
Support 3 1589.58 2896.58 14757 960.37 79.86
Contract August Gold July Silver August Crude Oil Sept. Bonds  Sept. Euro
Resistance 3 1396.0 2236.0 100.46 141 20/32 1.3538
Resistance 2 1386.0 2210.5 99.83 140 24/32 1.3481
Resistance 1 1368.5 2170.0 99.03 139  8/32 1.3382
Pivot 1358.5 2144.5 98.40 138 12/32 1.3325
Support 1 1341.0 2104.0 97.60 136 28/32 1.3226
Support 2 1331.0 2078.5 96.97 136 1.3169
Support 3 1313.5 2038.0 96.17 134 16/32 1.3070
Contract July Corn July Wheat Nov.Beans Dec. SoyMeal July bean Oil
Resistance 3 706.8 737.2 1349.17 463.67 50.20
Resistance 2 695.3 722.3 1332.58 459.73 49.85
Resistance 1 688.8 714.7 1321.67 456.67 49.60
Pivot 677.3 699.8 1305.08 452.73 49.25
Support 1 670.8 692.2 1294.2 449.7 49.0
Support 2 659.3 677.3 1277.58 445.73 48.65
Support 3 652.8 669.7 1266.67 442.67 48.40
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:08pm Currency Impact Detail Actual Forecast Previous Graph
ThuJun 20  2:00am EUR German PPI m/m 0.0% -0.2%
3:00am EUR French Flash Manufacturing PMI 47.1 46.4
EUR French Flash Services PMI 45.0 44.3
3:30am EUR German Flash Manufacturing PMI 49.9 49.4
EUR German Flash Services PMI 50.1 49.7
4:00am EUR Flash Manufacturing PMI 48.6 48.3
EUR Flash Services PMI 47.7 47.2
Tentative EUR Spanish 10-y Bond Auction 4.52|2.5
All Day EUR Eurogroup Meetings
8:30am USD Unemployment Claims 343K 334K
9:00am USD Flash Manufacturing PMI 52.5 52.3
10:00am EUR Consumer Confidence -22 -22
USD Existing Home Sales 5.01M 4.97M
USD Philly Fed Manufacturing Index -0.6 -5.2
USD CB Leading Index m/m 0.2% 0.6%
10:30am USD Natural Gas Storage 89B 95B

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 herein 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 judgment in trading

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