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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 Tuesday May 10, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
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Greetings!
From CMEGroup.com:
Could U.S. Politics Temper Fed Rate Hike Timing?
Video Highlights:
- Fed leaves door open to rate hike as early as June.
- CME fed fund futures point to possible increase in December.
- November U.S. presidential election could temper timing.
- Will Fed be politically sensitive or be fully data dependent?
- View video at: http://www.cmegroup.com/education/featured-reports/could-us-politics-temper-fed-rate-hike-timing.html?mkt_tok
Webinar this Wednesday!
Order Flow – Keeping it Simple, Practical & Effective
Wednesday May 11, 2016 1:00 PM PDT :
Register here Space is Limited
Join us for a 60 -minute webinar this Wednesday May 11th at 3:00 P.M., Central Time.
In this free webinar , Peter Davies of Jigsaw Trading, takes a look at why you might want to use Order Flow in your trading. He introduces simple, yet effective methods you can use to improve your trading edge.
The following topics will be discussed:
– The “Levels Dilemma”, a look at common problems of trading pre-determined levels (and yes, you still have to do your homework). How you can be right about the level but still miss the trade or get stopped out.
– The trade-off between catching shortfalls at a level and taking on more risk. How order flow traders address this.
– Review the software, plug in, different functions of the software and tools
– The conceptual events Order Flow Traders are using to confirm trades. The theory.
– More is not always better. The benefits of sticking to the basics with Order Flow and the pitfalls of making a science of it.
– Simple, practical and effective elements of Order Flow that Peter Davies uses in his own trading
**Free demo will be available.
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 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2071.75 | 4394.50 | 17849 | 1134.97 | 94.69 |
| Resistance 2 | 2065.75 | 4375.50 | 17788 | 1128.53 | 94.44 |
| Resistance 1 | 2060.25 | 4356.00 | 17717 | 1122.07 | 94.29 |
| Pivot | 2054.25 | 4337.00 | 17656 | 1115.63 | 94.05 |
| Support 1 | 2048.75 | 4317.50 | 17585 | 1109.17 | 93.90 |
| Support 2 | 2042.75 | 4298.50 | 17524 | 1102.73 | 93.65 |
| Support 3 | 2037.25 | 4279.00 | 17453 | 1096.27 | 93.50 |
| Contract | June Gold | July Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1307.4 | 17.90 | 47.83 | 166 18/32 | 1.1465 |
| Resistance 2 | 1298.5 | 17.70 | 46.88 | 166 4/32 | 1.1449 |
| Resistance 1 | 1281.5 | 17.36 | 45.16 | 165 27/32 | 1.1420 |
| Pivot | 1272.6 | 17.16 | 44.21 | 165 13/32 | 1.1404 |
| Support 1 | 1255.6 | 16.81 | 42.49 | 165 4/32 | 1.1375 |
| Support 2 | 1246.7 | 16.61 | 41.54 | 164 22/32 | 1.1359 |
| Support 3 | 1229.7 | 16.27 | 39.82 | 164 13/32 | 1.1330 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 385.9 | 474.7 | 1053.17 | 354.67 | 2.17 |
| Resistance 2 | 382.3 | 470.3 | 1044.83 | 350.03 | 2.15 |
| Resistance 1 | 375.7 | 463.4 | 1035.67 | 344.87 | 2.13 |
| Pivot | 372.1 | 459.1 | 1027.33 | 340.23 | 2.10 |
| Support 1 | 365.4 | 452.2 | 1018.2 | 335.1 | 2.1 |
| Support 2 | 361.8 | 447.8 | 1009.83 | 330.43 | 2.06 |
| Support 3 | 355.2 | 440.9 | 1000.67 | 325.27 | 2.03 |
Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:03pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueMay 10 | 2:00am | EUR | German Industrial Production m/m | -0.2% | -0.5% | ||||
| EUR | German Trade Balance | 20.4B | 19.8B | ||||||
| 2:45am | EUR | French Gov Budget Balance | -25.6B | ||||||
| EUR | French Industrial Production m/m | 0.6% | -1.0% | ||||||
| 3:15am | USD | FOMC Member Dudley Speaks | |||||||
| 4:00am | EUR | Italian Industrial Production m/m | 0.3% | -0.6% | |||||
| 4:30am | GBP | Goods Trade Balance | -11.2B | -12.0B | |||||
| 6:00am | USD | NFIB Small Business Index | 93.2 | 92.6 | |||||
| 10:00am | USD | JOLTS Job Openings | 5.55M | 5.45M | |||||
| USD | Wholesale Inventories m/m | 0.2% | -0.5% |