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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 July 6, 2016
Hello Traders,
We got both ECB Draghi speaking tomorrow morning as well as FOMC minutes later in the day. Could turn out to be a volatile trading day.
There are a few factors you can control as a day trader:
How many contracts you trade per ticket?
How many markets you trade at any given time?
What is your ( hopefully ) self imposed risk per trade? per day?
These factors should be adjusted as your trading capital change, as volatility increases/ decreases and according to your performance.
Gold chart for your review below:
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.
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| Contract Sept. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2133.25 | 4519.33 | 18131 | 1177.30 | 97.59 |
| Resistance 2 | 2119.00 | 4485.42 | 18027 | 1166.20 | 96.97 |
| Resistance 1 | 2101.00 | 4445.33 | 17896 | 1151.10 | 96.63 |
| Pivot | 2086.75 | 4411.42 | 17792 | 1140.00 | 96.00 |
| Support 1 | 2068.75 | 4371.33 | 17661 | 1124.90 | 95.66 |
| Support 2 | 2054.50 | 4337.42 | 17557 | 1113.80 | 95.04 |
| Support 3 | 2036.50 | 4297.33 | 17426 | 1098.70 | 94.70 |
| Contract | Aug. Gold | Sept. Silver | Aug. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1387.8 | 22.58 | 51.65 | 177 21/32 | 1.1304 |
| Resistance 2 | 1374.0 | 21.90 | 50.50 | 177 1/32 | 1.1260 |
| Resistance 1 | 1366.0 | 20.96 | 48.63 | 176 14/32 | 1.1180 |
| Pivot | 1352.2 | 20.29 | 47.48 | 175 26/32 | 1.1136 |
| Support 1 | 1344.2 | 19.35 | 45.61 | 175 7/32 | 1.1055 |
| Support 2 | 1330.4 | 18.67 | 44.46 | 174 19/32 | 1.1011 |
| Support 3 | 1322.4 | 17.73 | 42.59 | 174 | 1.0931 |
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Aug. Nat Gas |
| Resistance 3 | 379.7 | 458.8 | 1153.50 | 400.83 | 3.08 |
| Resistance 2 | 371.3 | 446.7 | 1136.75 | 396.27 | 3.01 |
| Resistance 1 | 364.7 | 440.1 | 1107.00 | 387.13 | 2.89 |
| Pivot | 356.3 | 427.9 | 1090.25 | 382.57 | 2.82 |
| Support 1 | 349.7 | 421.3 | 1060.5 | 373.4 | 2.7 |
| Support 2 | 341.3 | 409.2 | 1043.75 | 368.87 | 2.63 |
| Support 3 | 334.7 | 402.6 | 1014.00 | 359.73 | 2.50 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:42pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedJul 6 | 2:00am | EUR |
German Factory Orders m/m
|
1.0% | -2.0% | ||||
| 4:00am | EUR |
ECB President Draghi Speaks
|
|||||||
| 4:10am | EUR |
Retail PMI
|
50.6 | ||||||
| 4:30am | GBP |
Housing Equity Withdrawal q/q
|
-10.1B | -9.5B | |||||
| 8:30am | USD |
Trade Balance
|
-40.0B | -37.4B | |||||
| 9:00am | USD |
FOMC Member Tarullo Speaks
|
|||||||
| 9:45am | USD |
Final Services PMI
|
51.5 | 51.3 | |||||
| 10:00am | USD |
ISM Non-Manufacturing PMI
|
53.3 | 52.9 | |||||
| 2:00pm | USD |
FOMC Meeting Minutes
|