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Trading levels for Tuesday May 16th 2017

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Lately I have heard from more than a few clients and prospects that “stock index futures are just not what they used to be….” – very true!

Between QE of the last few years, regulations, the shrinking of the hedge fund population and more….stock index futures volatility and personality have changed. I am pretty certain that volatility will return but…when and in what form is anyone’s guess.

In between…there are other markets that are suitable for day trading in my opinion. Bonds, crude oil, gold, natural gas, some of the grains, some currencies….Observe some of these markets in simulated environment if you never traded them. Take notes, get a feel for their behavior. It might be time to diversify your daytrading portfolio with other markets except the mini SP 500…..

If you need help, want feedback please feel free to contact us.

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

5.16.2017

Contract June 2017  SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2418.58 5734.00 21094 1417.47 99.54
Resistance 2 2410.42 5720.25 21028 1408.33 99.34
Resistance 1 2404.33 5710.00 20978 1400.07 99.07
Pivot 2396.17 5696.25 20912 1390.93 98.87
Support 1 2390.08 5686.00 20862 1382.67 98.60
Support 2 2381.92 5672.25 20796 1373.53 98.40
Support 3 2375.83 5662.00 20746 1365.27 98.13
Contract June Gold July Silver June Crude Oil June  Bonds June  Euro
Resistance 3 1247.1 17.23 51.69 152 15/32 1.1089
Resistance 2 1242.2 17.02 50.67 152  3/32 1.1048
Resistance 1 1236.5 16.82 49.78 151 23/32 1.1021
Pivot 1231.6 16.62 48.76 151 11/32 1.0981
Support 1 1225.9 16.42 47.87 150 31/32 1.0954
Support 2 1221.0 16.21 46.85 150 19/32 1.0913
Support 3 1215.3 16.01 45.96 150  7/32 1.0886
Contract July  Corn July Wheat July Beans July SoyMeal July Nat Gas
Resistance 3 375.1 433.9 978.83 319.93 3.47
Resistance 2 373.4 431.1 975.92 318.37 3.44
Resistance 1 370.6 427.2 970.58 315.43 3.40
Pivot 368.9 424.3 967.67 313.87 3.37
Support 1 366.1 420.4 962.3 310.9 3.3
Support 2 364.4 417.6 959.42 309.37 3.29
Support 3 361.6 413.7 954.08 306.43 3.25

Economic Reports,  Source: 

https://www.forexfactory.com/

Date 3:27pm Currency Impact Detail Actual Forecast Previous Graph
TueMay 16 2:45am EUR
French Final CPI m/m
0.1% 0.1%
4:00am EUR
Italian Prelim GDP q/q
0.2% 0.2%
4:30am GBP
CPI y/y
2.6% 2.3%
GBP
PPI Input m/m
0.1% 0.4%
GBP
RPI y/y
3.4% 3.1%
GBP
Core CPI y/y
2.2% 1.8%
GBP
HPI y/y
5.4% 5.8%
GBP
PPI Output m/m
0.2% 0.4%
5:00am EUR
Flash GDP q/q
0.5% 0.5%
EUR
German ZEW Economic Sentiment
22.3 19.5
EUR
Trade Balance
18.8B 19.2B
EUR
ZEW Economic Sentiment
29.1 26.3
8:30am USD
Building Permits
1.27M 1.27M
USD
Housing Starts
1.26M 1.22M
9:15am USD
Capacity Utilization Rate
76.3% 76.1%
USD
Industrial Production m/m
0.4% 0.5%
9:30am GBP
CB Leading Index m/m
0.1%
10:00am USD
Mortgage Delinquencies
4.80%

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.

Tags: > > Posted in: Future Trading News  

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