Futures Trading Levels and Economic Reports for May 31, 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 Friday May 31, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
While I mostly talk about short term trading in this blog, I wanted to bring to everyone’s attention that we do offer and assist clients with longer term trading as well as options on futures.
I like using options spreads and selling premium in different market conditions and I wrote an informative summary about this topic at:
https://www.cannontrading.com/tools/education-futures-options-trading-101
So if you are in a position, looking to take a longer term position, would like some feedback on different uses of options, please feel free to contact any of us here at Cannon or email me back and we will be happy to help.
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
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 | 1682.25 | 3073.83 | 15544 | 1010.30 | 84.30 |
| Resistance 2 | 1671.50 | 3049.67 | 15466 | 1003.00 | 84.03 |
| Resistance 1 | 1662.50 | 3030.08 | 15394 | 998.10 | 83.55 |
| Pivot | 1651.75 | 3005.92 | 15316 | 990.80 | 83.28 |
| Support 1 | 1642.75 | 2986.33 | 15244 | 985.90 | 82.79 |
| Support 2 | 1632.00 | 2962.17 | 15166 | 978.60 | 82.52 |
| Support 3 | 1623.00 | 2942.58 | 15094 | 973.70 | 82.04 |
| Contract | June Gold | July Silver | July Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1453.6 | 2381.0 | 96.84 | 142 1/32 | 1.3219 |
| Resistance 2 | 1435.7 | 2343.5 | 95.42 | 141 18/32 | 1.3141 |
| Resistance 1 | 1424.3 | 2306.0 | 94.50 | 141 2/32 | 1.3091 |
| Pivot | 1406.4 | 2268.5 | 93.08 | 140 19/32 | 1.3013 |
| Support 1 | 1395.0 | 2231.0 | 92.16 | 140 3/32 | 1.2963 |
| Support 2 | 1377.1 | 2193.5 | 90.74 | 139 20/32 | 1.2885 |
| Support 3 | 1365.7 | 2156.0 | 89.82 | 139 4/32 | 1.2835 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 677.1 | 706.4 | 1513.17 | 451.40 | 49.15 |
| Resistance 2 | 670.9 | 702.6 | 1506.58 | 448.60 | 48.93 |
| Resistance 1 | 662.6 | 700.7 | 1501.17 | 444.70 | 48.75 |
| Pivot | 656.4 | 696.8 | 1494.58 | 441.90 | 48.53 |
| Support 1 | 648.1 | 694.9 | 1489.2 | 438.0 | 48.4 |
| Support 2 | 641.9 | 691.1 | 1482.58 | 435.20 | 48.13 |
| Support 3 | 633.6 | 689.2 | 1477.17 | 431.30 | 47.95 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:12pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriMay 31 | 2:00am | EUR | German Retail Sales m/m | 0.3% | -0.5% | ||||
| 2:45am | EUR | French Consumer Spending m/m | -0.5% | 1.3% | |||||
| 4:00am | EUR | Italian Quarterly Unemployment Rate | 11.2% | 11.2% | |||||
| EUR | Italian Monthly Unemployment Rate | 11.6% | 11.5% | ||||||
| All Day | ALL | OPEC Meetings | |||||||
| 5:00am | EUR | CPI Flash Estimate y/y | 1.4% | 1.2% | |||||
| EUR | Unemployment Rate | 12.2% | 12.1% | ||||||
| EUR | Italian Prelim CPI m/m | 0.1% | 0.1% | ||||||
| 8:30am | USD | Core PCE Price Index m/m | 0.1% | 0.0% | |||||
| USD | Personal Spending m/m | 0.2% | 0.2% | ||||||
| USD | Personal Income m/m | 0.2% | 0.2% | ||||||
| 9:45am | USD | Chicago PMI | 50.3 | 49.0 | |||||
| 9:55am | USD | Revised UoM Consumer Sentiment | 84.1 | 83.7 | |||||
| USD | Revised UoM Inflation Expectations | 3.1% |
