FuturesCom Bi-Weekly Investment Outlook # 423 June 02 2013 SP500 and Equity Indices • Bonds • Currency Trading • Forex • Precious Metals • Energy • Grains • Livestock • Coffee • Sugar • Cocoa • Cotton. Free Two Week Trial see https://futurescom.com/free-trial-2
“The best thing about the future is that it comes one day at a time”. — Abraham Lincoln –
Saturday June 1, 2013 11:00 PM South Florida Beach Time
US Stocks closed lower on Friday with the Dow Jones Industrial Average closing rather sloppy for the last day of trading of the month. Additionally increased selling pressure was seen in the last hour of trading. Aggressive traders should be prepared for tests of slightly lower levels and more volatility while trading ranges are established. Treasury futures moved lower with rates increasing a bit, new contract lows for June 2013 Treasury Futures were set last week. Expect more range bound to lower action on Euro, the US Dollar can strengthen into June and July. Dollar- Yen (USD/JPY) remains bullish with caution. Traders should consider the Japanese Yen futures as a trading affair for the near term, nothing has changed. Swiss Franc appears to be in a trading range, nothing has changed, if more selling occurs and it appears its more likely than not that it will over the long term. A range of 10580 on top and 9700 under the mkt appears likely. Typically the weakest part of the year for Swiss Futures is still in front of the market during June and July. The British Pound is a trading affair. The British Pound is essentially at the same levels it has been for years and is likely to stay in this range. Aggressive traders can buy a sharp decline for a trade as well as selling excessive strength. No change to the Canadian Dollar posture, selling rallies is preferred for the long term. A topside level for USD/CAD near 10580 to 10680 appears more likely than not. Therefore buying Canadian Dollar futures should be on extreme weakness. The Kiwi has fallen apart and lower levels appear likely, the Aussie Dollar continued its decline, remains a mess and indicates that lower prices are in front not behind it.
Traders should note Bi-Weekly Outlook analysis for Forex markets will move to September in this issue. Daily Morning Comments will roll the analysis at the end of this week. Meanwhile Gold and Silver recovered a bit once again and appear to be failing again, nothing has changed. Crude Oil closed the week sloppy and sits near year the year-end 2012 levels. Geopolitical issues are lurking in the background and may provide support and hurricane season has begun. Consider Crude a trading affair and stay tuned for BW and Day Trade Flashes. The Grain Markets continue to digest planting delays, weather and price. Soybeans and soymeal ran up and are now weather markets and should be traded short term only. Traders can use day trades from both sides. Sell a rally in Wheat … Hogs are a trading affair as is Live Cattle. Cattle can become seasonally sloppy to weak into mid-June and appears to have broken longer term trends, is not cheap and downside risk has increased. Stay tuned for Livestock Flashes. Coffee is a mess, remains lower on the year and year over year. Sugar tends to strengthen into July. Buying October Sugar for a bounce should work, Cocoa acts lousy, sell an early rally. Traders can buy September Mini SP500 at 1577.50 for a turn higher if blood begins to run a bit. .
Stay tuned for updates and flashes in All Markets. On the Nitty Gritty
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE
Support should appear near the 14,960.00 to 14,840.00 region. Below that buyers should appear near
14,715.00 and the 14,590.00 to 14.530.00 region.
Resistance should appear near 15,125.00 and the 15,290.00 to 15,350.00 region. Beyond that sellers
should appear near 15,520.00 and the 15,690.00 to 15,760.00 region.
JUNE E-MINI SP500
Resistance should appear near 1642.00 to 1655.00 then 1672.00 and the 1689.00 to 1696.00 region.
Support should appear near 1615.00 to 1609.00 and the 1576.00 to 1569.00 region.
Traders can buy at 1592 for a bounce and risk a close under 1574 for three days in a row.
NASDAQ COMPOSITE
Resistance should appear near 3493.00 to 3503.00 and the 3553.00 to 3583.00 region and should
bring out sellers and cap a rally.
Support should appear near 3443.00 to 3425.00 and the 3388.00 to 3377.00 region. Below that a test
of 3328.00 to 3319.00 is likely and should hold.
JUNE E-MINI NASDAQ 100
Support should appear near the 2937.00 to 2928.00 region. Below that buyers should appear near
2883.00 to 2874.00 and should contain a decline. Traders can buy at 2905 and risk a close
2873 for three days in a row.
Resistance should appear near 2992 and the 3036.00 to 3045.00 region. A close over is friendly and
augurs for a test of the 3092.00 to 3102.00 and should cap a rally for a bit.
JUNE E-MINI RUSSELL 2000
Resistance should appear near 982.10 to 983.70 and the 992.10 to 993.70 region. Beyond that sellers
should appear near 1002.10 to 1003.70 and cap a rally.
Support should appear near 973.70 to 970.60. Below that buyers should appear near 964.10 to 962.50
and the 954.20 to 952.60 region.
Stay tuned for flashes
SEPT 30 YR BOND
Resistance should appear near 141-07 and 141-21. Beyond that a test of 142-07 is likely. Traders can
sell at 142-07 and risk a close over 142-22 for three days in a row.
Support should appear near 139-21 and 138-07. Below that a trade towards 137-21 and 137-07 is
likely. .
SEPT 10 YR NOTE
Resistance should appear near 130-07 and 131-21, beyond that sellers should appear near 132-07
and cap a rally.
Support should appear near 128-21 and 128-07. Below that a test of 127-07 and 126-21 is likely.
THE FRENZIED FOREX FRONT
SEPT DOLLAR INDEX
Resistance should appear near 8391 to 8406 and the 8484 to 8499 region.
Support should appear near the 8314 to 8300 region. Traders can buy at 8317 and risk a close under
8299 for three days in a row.
SEPT JAPANESE YEN
Resistance should appear near 10021 to 10037 and the 10104 to 10136 region.
Support should appear near 9936 to 9921, a close under is negative and augurs for a test of the
9837 to 9821 region. Below that a test of 9737 to 9706 is likely.
SEPT EURO CURRENCY
Support should appear near 12890 and the 12740 to 12680 region. A close under is negative and
augurs for a test of 12380 to 12320.
Resistance should appear near 13040 to 13100 and 13157.
.
SEPT SWISS FRANC
Resistance should appear near 10470 and the 10580 to 10680 region, which should cap a rally.
Support should appear near 10360 to 10320, a close under is negative and augurs for a test of 10136
to 10104 and the 10037 to 10021 region.
SEPT BRITISH POUND
Support should appear near 15125 and the 14960 to 14840 region.
Resistance should appear near resistance should appear near 15290 to 15350 and the 15690 to
15760 region.
SEPT CANADIAN DOLLAR
Resistance should appear near 9625 to 9641 and the 9706 to 9737 region. Traders can sell at 9702
and risk a close over 9742 for three days in a row. Beyond that sellers should appear near 9821 to
9837 and cap a rally.
Support should appear near 9542 to 9526, a close under is negative and augurs for a test of 9445 to
9429 and eventually the 9347 to 9316 region. Traders can buy at 9351 and risk a close under 9312 for
three days in a row. Traders can go short if a close under 9521 occurs
SEPTEMBER AUSSIE DOLLAR
Support should appear near 9445 to 9429, a close under is negative and augurs for a test of the 9347
to 9316 region.
Resistance should appear near 9526 to 9542 and the 9625 to 9641 region. Beyond that sellers should
appear near the 9706 to 9737 region
Stay Tuned for Forex Flashes
THE PRECIOUS METALS
AUGUST GOLD
Resistance should appear near the 1415 to 1421 region. Beyond that sellers should appear near 1453
to 1459. Aggressive Traders can sell at 1415.00 and risk a close over 1422 for three days in a row.
Support is near 1383 to 1377, a close under is negative and augurs for a test of 1346 to 1334, below
that a test of 1322 and the 1310 to 1304 region likely… Under that buyers should appear near 1274.00
to 1268.00
JULY COPPER
Resistance should appear near 33190 to 33280 and the 33770 to 33860 region. Beyond that sellers
should appear near 34250 to 34430 and cap a rally.
Support should appear near 32700 to 32610, a close under is negative and augurs for a test of the
32130 to 31940 region and eventually the 30450 to 30360 region.
JULY SILVER
Resistance should appear near 2315 to 2322 and the 2354 to 2370 region. Beyond that sellers should
appear near 2411 to 2419 and the 2461 to 2489 region and cap a rally.
Support is at 2185 to 2170. Below that a test of 2134 to 2126 is likely. Failure there is negative and
augurs for a test of 2042 to 2034. Below that buyers should appear near 1996 to 1982 and contain a
decline.
Stay Tuned For Flashes …
THE EXCITING ENERGIES
AUGUST CRUDE OIL
Resistance should appear near 9316 to 9347 and the 9429 to 9445 region Beyond that sellers should
appear near 9706 to 9737 and cap a rally.
Support should appear near 9156 to 9140, a close under is negative and augurs for a test of 9060 to
9044 and the 8964 to 8934 region. Below that buyers should appear near 8683 to 8668…
JULY HEATING OIL
Support should appear near the 27750 to 27580, a close under is negative and augurs for a test of the
27240 to 26160 region. Below that buyers should appear near 26720 to 26630 and 26200 to 26120.
Resistance should appear 28200 to 28290 and the 29280 to 29370 region. Beyond that sellers should
appear near 30360 to 30450 and cap a rally.
JULY UNLEADED GAS
Support should appear near 26720 to 26630 and the 26200 to 26120 region. Below that buyers should
appear near 25680 to 25520.
Resistance should appear near 27580 to 27750 and the 28200 to 28290 region. Beyond that sellers
should appear near 28740 to 28830 and cap a rally.
JULY NATURAL GAS
Resistance should appear at 4046 to 4056 and 4110 to 4120.
Support should appear near 3929 to 3909 and 3867 to 3858.
THE GRANDE’ GRAINS
JULY SOYBEANS
Support should appear near 1496 to 1484 and the 1459 to 1453 region, which should hold.
Resistance should appear near 1529 to 1535, beyond that sellers should appear near 1569 to 1576
region and cap a rally.
NOVEMBER SOYBEANS
Support should appear near 1274 to 1268 and 1238 to 1232. Below that buyers should appear near
1203 to 1192 and contain a decline.
Resistance should appear near 1304 to 1310 and the 1334 to 1346 region. Beyond that sellers should
appear near 1377 to 1383 and cap a rally.
JULY SOYOIL
Resistance should appear near 4845 to 4856 and 4915 to 4926. Beyond that sellers should appear
near the 4973 to 4995 region and cap a rally.
Support should appear near the 4785 to 4775 region. Below that a test of 4717 to 4695 is likely.
JULY SOYMEAL
Resistance should appear near 450.3 to 451.4 and the 457.1 to 458.2 region. Beyond that sellers
should appear near 463.9 to 465.0 and cap a rally.
Support should appear near 444.6 to 442.5, a close under is negative and augurs for a test of 438.1 to
437.0 and the 431.6 to 430.4 region.
JULY CORN
Support should appear 643 to 641 ¼ and 635 to 633 ¾… Below that a test of 627 to 625 ¾ is likely.
Resistance should appear near 665 ¾ to 667 ¾ and 674 ¼ to 675 ½. Beyond that sellers should
appear near 680 ¾ to 683 ¾.
DECEMBER CORN
Support should appear 557 ¾ to 555 ¼ and the 543 to 541 ¾ region. Below that buyers should appear
near 535 ¾ to 534 ½
Resistance should appear near 585 ½ to 588 and the 602 ¼ to 603 ½ which should cap a rally.
Traders can sell at 602 and risk a close over 611 ¼ for three days in a row.
JULY WHEAT
Resistance should appear near 707 ½ to 708 ¾.and the 714 ¼ to 717 region. Beyond that sellers
should appear near 724 ¼ to 725 ½
Traders can sell at 714 for a trade and risk a close over 727 for three days in a row.
Support should appear near 700 ¼ 699 and 692 to 690 ¾, a close under is negative and augurs for a
test of 683 ¾ to 680 ¾
THE LIVELY LIVESTOCK
AUGUST CATTLE
Support should appear near 12030 to 11920, a close under is negative and augurs for a test of 11817
and the 11690 to 11640 region.
Resistance should appear near 12172 and the 12320 to 12380 region.
OCTOBER CATTLE
Support should appear near 12320, a close under is negative and augurs for a test of 12172 and the
12030 to 11920 region
Resistance should appear near 12380 then 12447 and the 12680 to 12740 region
AUGUST HOGS
Support should appear near 9347 to 9317, a close under is negative and augurs fort a test of 9232 and
the 9157 to 9140 region. Below that a test of 9062 to 9042 is likely.
Resistance should appear near 9427 to 9442 and should cap a rally. Beyond that sellers should
appear near 9522 to 9542
OCTOBER HOGS
Support should appear near 8317 to 8300, a close under is negative and augurs for a test of 8222 to
8192 and the 8132 to 8117 region.
Resistance should appear near 8392 to 8407 and 8482 to 8507. Beyond that sellers should appear
near 8587 to 8590 and cap a rally.
Stay tuned for livestock flashes
THE SATISFYING SOFTS
SEPTEMBER COFFEE
Support should appear near 12740 to 12680 and 12380 to 12320… Below that a test of 12030 to 11920 is likely
Resistance should appear near 13040 to 13100 and the 13340 to 13460 region. Beyond that sellers should appear near 13770 to 13830. Traders can sell at 13760 and risk a close over 13870 for three days in a row.
SEPTEMBER COCOA
Resistance should appear near 2219 to 2226, traders can sell at 2217 and hold for lower prices, risk a close over 2277 for three days in a row. Beyond that sellers should appear near the 2315 to 2322 . Support should appear near the 2185 to 2170, a close under is negative and augurs for a test of 2134 to 2126 and the 2089 to 2080 region.
OCTOBER SUGAR
Resistance is near the 1731 to 1738 region. Beyond that sellers should appear near 1774 to 1780 and cap a rally.
Support should appear near 1689 then 1655 to 1642 and the 1576 to 1569 region.
Traders can buy at 1657 and risk a close under 1637 for three days in a row.
JULY COTTON
Support should appear near 7777 to 7763 and the 7342 to 7328 region
Resistance is near 8119 to 8134 and 8300 to 8314 and should cap a rally.
Stay tuned for Flashes and Updates in all Markets
–A Ship in Harbor is Safe…But that is not what ships are built for –
Happy Trading!
Bill wil@futurescom.com
Sunday June 02, 2013
3:00 PM South Florida Beach Time
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