More Hikes on the Way? Trading Levels for 8.29.2018

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Fed’s Fork in the Road: Even Higher Rates or Pause?
By Blu Putnam, Chief Economist and Erik Norland, Senior Economist, CME Group
Highlights:
  • Markets skeptical of Fed’s signal for seven more rate hikes by 2020
  • Our base case is for two more increases before Fed goes on hold
  • Rate hikes based on ‘dot plot’ could raise risks of debt defaults, recession
  • Our analysis shows probability of a recession in 2020 is at 33% and rising

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

08-29-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2917.92 7630.08 26257 1751.20 7622.07
Resistance 2 2912.08 7613.67 26207 1743.40 7368.94
Resistance 1 2905.92 7597.08 26145 1737.20 7230.94
Pivot 2900.08 7580.67 26095 1729.40 6977.81
Support 1 2893.92 7564.08 26033 1723.20 6839.81
Support 2 2888.08 7547.67 25983 1715.40 6586.68
Support 3 2881.92 7531.08 25921 1709.20 6448.68
Contract December Gold #GC_F Sept. Silver #SI-F Oct. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1231.7 15.33 70.13 145 26/32 1.1818
Resistance 2 1226.2 15.20 69.67 145 16/32 1.1784
Resistance 1 1216.8 14.99 69.14 144 31/32 1.1747
Pivot 1211.3 14.86 68.68 144 21/32 1.1713
Support 1 1201.9 14.66 68.15 144  4/32 1.1676
Support 2 1196.4 14.53 67.69 143 26/32 1.1642
Support 3 1187.0 14.32 67.16 143  9/32 1.1605
Contract Dec.  Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F
Resistance 3 367.0 532.0 856.92 315.80 2.91
Resistance 2 364.8 529.8 852.08 313.50 2.89
Resistance 1 360.5 526.5 842.67 309.10 2.87
Pivot 358.3 524.3 837.83 306.80 2.85
Support 1 354.0 521.0 828.4 302.4 2.8
Support 2 351.8 518.8 823.58 300.10 2.81
Support 3 347.5 515.5 814.17 295.70 2.79

Economic Reports, source: 

www.forexfactory.com

Date 4:06pm Currency Impact Detail Actual Forecast Previous Graph
WedAug 29 2:00am EUR
German GfK Consumer Climate
10.6 10.6
2:45am EUR
French Consumer Spending m/m
0.3% 0.1%
EUR
French Prelim GDP q/q
0.2% 0.2%
8:30am USD
Prelim GDP q/q
4.0% 4.1%
USD
Prelim GDP Price Index q/q
3.0% 3.0%
10:00am USD
Pending Home Sales m/m
0.3% 0.9%
10:30am USD
Crude Oil Inventories
-0.7M -5.8M

 

 

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 here in 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 judgement in trading.

Posted in: Future Trading News  

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