Futures Trading Levels and Economic Reports for June 4, 2013
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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!
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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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 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 |
source:http://www.forexfactory.com/calendar.php
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 |
