Futures Trading Levels and Economic Reports for June 5, 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 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:
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GOOD TRADING
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| 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 |
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
