Futures Trading Levels and Economic Reports for June 5, 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 Wednesday June 5, 2013

Hello Traders,

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

 

Next few days can be quite volatile as we expect a slew of economic number tomorrow, Thursday and Friday. Starting with tomorrows ADP employment report which comes out very early.

Below is my daily mini SP 500 chart with a few indicators/ marks I like to have on my charts of conditions I have tested and show better than 60% success rate.

 

You can see that the sell signal marked by the down arrow got more confirmation with the red circle, however we are not able to close below 1625 and the money flow indicator I like to follow shows a little bottoming out action.

 

I think the fundamental data that will come out in the next few days will be the factor moving this market either below the 1625 level or back to the 1650 area.

 

Daily chart for your review below:

mini sp daily

 

 

 

 

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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 June 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1669.25 3049.50 15505 1018.23 83.34
Resistance 2 1657.50 3028.25 15401 1007.17 83.17
Resistance 1 1645.00 3003.50 15295 995.33 82.97
Pivot 1633.25 2982.25 15191 984.27 82.80
Support 1 1620.75 2957.50 15085 972.43 82.60
Support 2 1609.00 2936.25 14981 961.37 82.43
Support 3 1596.50 2911.50 14875 949.53 82.23
Contract August Gold July Silver July Crude Oil Sept. Bonds  June Euro
Resistance 3 1439.1 2323.7 96.52 141 15/32 1.3171
Resistance 2 1427.0 2298.3 95.46 141  3/32 1.3137
Resistance 1 1412.4 2273.2 94.49 140 16/32 1.3111
Pivot 1400.3 2247.8 93.43 140  4/32 1.3077
Support 1 1385.7 2222.7 92.46 139 17/32 1.3051
Support 2 1373.6 2197.3 91.40 139  5/32 1.3017
Support 3 1359.0 2172.2 90.43 138 18/32 1.2991
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 679.9 722.7 1542.50 461.80 49.13
Resistance 2 671.8 716.3 1536.25 458.70 48.86
Resistance 1 666.2 712.7 1532.50 455.60 48.73
Pivot 658.1 706.3 1526.25 452.50 48.46
Support 1 652.4 702.7 1522.5 449.4 48.3
Support 2 644.3 696.3 1516.25 446.30 48.06
Support 3 638.7 692.7 1512.50 443.20 47.93
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 3:53pm Currency Impact Detail Actual Forecast Previous Graph
WedJun 5  3:15am EUR Spanish Services PMI 45.3 44.4
3:45am EUR Italian Services PMI 47.5 47.0
4:00am EUR Final Services PMI 47.5 47.5
5:00am EUR Retail Sales m/m -0.2% -0.1%
EUR Revised GDP q/q -0.2% -0.2%
8:15am USD ADP Non-Farm Employment Change 171K 119K
8:30am USD Revised Nonfarm Productivity q/q 0.7% 0.7%
USD Revised Unit Labor Costs q/q 0.5% 0.5%
10:00am USD ISM Non-Manufacturing PMI 53.4 53.1
USD Factory Orders m/m 1.6% -4.9%
10:30am USD Crude Oil Inventories 3.0M
2:00pm USD Beige Book

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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