Using Overbought/Oversold Indicators to Trade Futures 7.22.2016

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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 July 22, 2016

Hello Traders,

A link to an older but still excellent video ( in my opinion…) on using overbought/ oversold indicators to trade.

Any questions – let me know will be happy to help:

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.

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Futures Trading Levels 

Contract Sept. 2016  SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2185.42 4694.58 18688 1223.30 97.75
Resistance 2 2177.83 4678.42 18618 1217.50 97.51
Resistance 1 2168.67 4659.08 18534 1209.30 97.24
Pivot 2161.08 4642.92 18464 1203.50 97.00
Support 1 2151.92 4623.58 18380 1195.30 96.73
Support 2 2144.33 4607.42 18310 1189.50 96.49
Support 3 2135.17 4588.08 18226 1181.30 96.22
Contract Aug. Gold Sept. Silver Sept. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1365.0 20.81 47.11 173 28/32 1.1168
Resistance 2 1349.5 20.37 46.60 172 26/32 1.1127
Resistance 1 1341.7 20.15 45.59 172 4/32 1.1087
Pivot 1326.2 19.71 45.08 171 2/32 1.1046
Support 1 1318.4 19.48 44.07 170 12/32 1.1006
Support 2 1302.9 19.04 43.56 169 10/32 1.0965
Support 3 1295.1 18.82 42.55 168 20/32 1.0925
Contract Dec.Corn Sept. Wheat Nov. Beans Dec. SoyMeal Aug. Nat Gas
Resistance 3 349.8 433.1 1031.33 359.30 2.81
Resistance 2 347.4 426.4 1025.17 356.10 2.76
Resistance 1 344.1 422.1 1018.83 351.80 2.72
Pivot 341.7 415.4 1012.67 348.60 2.67
Support 1 338.3 411.1 1006.3 344.3 2.6
Support 2 335.9 404.4 1000.17 341.10 2.59
Support 3 332.6 400.1 993.83 336.80 2.55

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:50pm Currency Impact Detail Actual Forecast Previous Graph
FriJul 22  3:00am EUR
French Flash Manufacturing PMI
48.1 48.3
EUR
French Flash Services PMI
49.6 49.9
3:30am EUR
German Flash Manufacturing PMI
53.6 54.5
EUR
German Flash Services PMI
53.3 53.7
4:00am EUR
Flash Manufacturing PMI
52.1 52.8
EUR
Flash Services PMI
52.3 52.8
4:30am GBP
Manufacturing PMI
47.8 52.1
GBP
Services PMI
48.9 52.3
5:00am EUR
Italian Retail Sales m/m
0.2% 0.1%
9:45am USD
Flash Manufacturing PMI
51.9 51.3

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.