Futures Trading Levels and Economic Reports for June 4, 2013

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

Futures Trading Levels and Economic Reports for June 4, 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 Tuesday June 4, 2013

Hello Traders,

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


Every so often something happens in the market that reinforces my personal belief that day-traders should use stops on each trade….I have traded before with clients and on behalf of clients where our thought was “lets see what the market does…..” WRONG!Yes, maybe 8 of 10 times, it turns out to be OK to “see what the market does” but the 1 or 2 times out of ten when all of a sudden, fed official is speaking, “fat finger accident” take place or just simply big volume, big move comes into the market and by the time we decide what to do we already took such a big loss is simply not worth it.

I wanted to share this personal opinion that each trader should have a stop each time they get into a trade because of the increase in volatility after a period of very low volatility, where the wait and see approach may have worked. I think that now we are entering a period of higher volatility where not having a stop in the system can be quite costly.

I have seen a big, fast move happening in the bond/ ten year market this past Friday. Noticed some big moves in the crude oil and gold markets these past few days and even the mini SP had some big, fast surprise moves.

Stops are part of trading. Taking loses is part of trading. The sooner a trader learns to be realistic, use stops and accept losses, the better chances they have of survival.

Survival is the first and must stage for any new futures trader.





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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 June 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1662.50 3051.33 15428 1015.40 84.22
Resistance 2 1650.75 3023.17 15335 1004.20 83.82
Resistance 1 1644.25 3006.33 15285 997.00 83.26
Pivot 1632.50 2978.17 15192 985.80 82.86
Support 1 1626.00 2961.33 15142 978.60 82.30
Support 2 1614.25 2933.17 15049 967.40 81.90
Support 3 1607.75 2916.33 14999 960.20 81.34
Contract August Gold July Silver July Crude Oil Sept. Bonds  June Euro
Resistance 3 1450.8 2373.8 96.70 143 13/32 1.3289
Resistance 2 1433.6 2332.7 95.20 142 13/32 1.3199
Resistance 1 1422.6 2299.8 94.26 141 14/32 1.3136
Pivot 1405.4 2258.7 92.76 140 14/32 1.3046
Support 1 1394.4 2225.8 91.82 139 15/32 1.2983
Support 2 1377.2 2184.7 90.32 138 15/32 1.2893
Support 3 1366.2 2151.8 89.38 137 16/32 1.2830
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 692.8 733.8 1552.33 470.33 49.11
Resistance 2 680.9 722.9 1546.17 464.27 48.91
Resistance 1 668.3 715.8 1539.33 459.33 48.79
Pivot 656.4 704.9 1533.17 453.27 48.59
Support 1 643.8 697.8 1526.3 448.3 48.5
Support 2 631.9 686.9 1520.17 442.27 48.27
Support 3 619.3 679.8 1513.33 437.33 48.15
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:50pm Currency Impact Detail Actual Forecast Previous Graph
TueJun 4  3:00am EUR Spanish Unemployment Change -50.2K -46.1K
5:00am EUR PPI m/m -0.2% -0.2%
8:30am USD Trade Balance -41.1B -38.8B
10:00am USD IBD/TIPP Economic Optimism 50.2 45.1
1:30pm USD FOMC Member George Speaks

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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