FuturesCom Bi-Weekly Investment Outlook # 421 May 05 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
“Accomplishments will prove to be a journey, not a destination” — Dwight D. Eisenhower —
Saturday May 04, 2013
7:00 PM South Florida Beach Time
The Bureau of Labor Statistics says the economy added 165,000 jobs during April and the Unemployment rate fell from 7.6% in March to 7.5% in April. The average workweek slipped from 34.6 Hours to 34.4 hours and the under-employment rate, which includes people who have part time jobs but want full time jobs, increased from 13.8% to 13.9%. Employers seem to be creating more part time jobs by eliminating full time jobs in order to avoid the new Obamacare rules. Eventually many workers
(employees) will decide to shift from paying for their own health insurance to the ‘free’ insurance offered by the government and simply pay the penalty. The job numbers helped sparked a more strength in the stock market Friday. Generally speaking traders should look for a dip into mid month. Traders should stay tuned for flashes on both sides of the market. Besides the Israel’s attack on Syria over the weekend the most interesting tidbit in the news were comments by the Australian Prime Minister. Prime Minister Julia Gillard said a 50 percent rise in the value of the Australian dollar is squeezing trade-exposed businesses and cutting tax revenue, forcing her government to make “grave” budget decisions.”
Investors should avoid the Australian Dollar unless there is a significant decline into the 9740 AUD/USD region against the Dollar. Aggressive traders should assume a trading range with a lower slant into summer is ahead of the market.
Expect more range bound to lower action on Euro, which historically has not fared well during May as the US Dollar tends to begin May on a weak note and firms into June. Dollar Yen remains bullish. Traders should maintain a small long position in Dollar Yen, Buy Dips and Sell Futures on rallies.
Gold and silver recovered somewhat from their steep decline and a range trade is now likely with limited upside from here and more downside risk into late summer and early autumn. Energies acted better late last week, but once again only after sharp setbacks. Expect more range bound trade.
Grains are now a weather market.
Stay tuned for Flashes and Updates in All Markets
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE
Support should appear near 14,960.00 to 14,840.00 and the 14,590.00 to 14,530.00 region.
Resistance should appear near the 15,290.00 to 15,350.00 region. Beyond that a test of 15,690.00 to 15,760.00 is likely
JUNE E-MINI SP500
Resistance should appear near 1609.00 to 1615.00 and the 1642.00 to 1655.00 region
Support should appear near 1576.00 to 1569.00. Traders can buy at 1577 for a bounce and risk a close under 1567 for three days in a row. Below that support should appear near the 1535.00 to 1529.00 region and contain a decline.
NASDAQ COMPOSITE
Resistance should appear near 3425.00 to 3443.00 and the 3493.00 to 3503.00 region
Support should appear near 3377.00 and the 3328.00 to 3319.00 region. Below that a test of 3270.00 to 3261.00 is likely and should hold.
JUNE E-MINI NASDAQ 100
Support should appear near 2937.00 to 2928.00 and the 2883.00 to 2874.00 region. Below that buyers should appear near 2829.00 to 2820.00.
Resistance should appear near 2972.00 to 2990.00 and the 3036.00 to 3045.00 region.
JUNE E-MINI RUSSELL 2000
Resistance should appear near 952.60 to 954.20 and the 962.50 to 964.10 region. Beyond that sellers should appear near 970.60 to 973.70.
Support should appear near the 944.50 to 942.90 region. Below that 934.70 to 931.60 should hold.
Traders can buy at 934.80 for a bounce and risk a close under 931.00 for three days in a row.
JUNE 30 YR BOND
Resistance should appear near 148-21 and 149-07. Beyond that 149-21 should cap a rally
Support should appear near 145-21 and 145-07 below that a test of 144.21 and 144-07 is likely
JUNE 10 YR NOTE
Resistance should appear near 133-07 and 133-21, beyond that sellers should appear near 134-07
Support should appear near 131-21 then 131-07 and 130-21.
THE FRENZIED FOREX FRONT
JUNE DOLLAR INDEX
Resistance should appear near 8300 to 8314.
Support should appear near 8194 and 8134.00 to 8119
JUNE JAPANESE YEN
Resistance should appear near 10104 to 10136 then 10237 and the 10320 to 10360 region.
Traders can sell at 10317 and risk a close over 10367 for three days in a row.
Support should appear near 10037 to 10021 and the 9937 to 9921 region
JUNE EURO CURRENCY
Support should appear near 13100 to 13040, a close under is negative and augurs for a test of 12890
and the 12740 to 12680 region.
Resistance should appear near 13220 and the 13340 to 13460 region
.
JUNE SWISS FRANC
Resistance should appear near 10725 then 10750 and 10820
Support should appear near 10680 then 10630 and 10580. A close under is negative and augurs for a test of the 10360 to 10320 region.
JUNE BRITISH POUND
Support should appear near 15350 to 15290.
Resistance should appear near resistance should appear near 15690 to 15760
Traders can sell at 15687 and risk a close over 15770 for three days in a row.
JUNE CANADIAN DOLLAR
Resistance should appear near 9921 to 9937 and 10021 to 10037. Traders can sell at 9971 and risk a close over 10042 for three days in a row.
Support should appear near 9837 to 9821 and the 9737 to 9706 region.
JUNE AUSSIE DOLLAR
Resistance should appear near 10320 to 10360 and 10470.
Support should appear near 10235 and the 10136 to 10104 region
THE PRECIOUS METALS
JUNE GOLD
Resistance should appear near 1471.50 and 1484.00 to 1496.00. Beyond that sellers should appear near 1529.0 to 1535.0
Support is near 1459 to 1453.00 then1437.0 and the 1421 to 1415 region. Below that a test of 1383.0 to 1377.0 is likely.
JULY COPPER
Resistance should appear near 34250 to 34430 and the 34950 to 35030 region
Support should appear near 32700 to 32610 and the 32130 to 31940 region
JULY SILVER
Resistance should appear near 2411 to 2419 and 2461 to 2469.
Support is at 2370 to 2354 then 2322 to 2315 and 2275 to 2267
THE EXCITING ENERGIES
JULY CRUDE OIL
Resistance should appear near 9706 to 9737 and the 9821 to 9837 region. Beyond that a test of
10021 to 10037 is likely.
Support should appear near 9347 to 9316 and 9156 to 9140
JUNE HEATING OIL
Support should appear near 28290 to 28200 and 27750 to 27580. Below that buyers should appear near 26720 to 26630.
Resistance should appear the 29280 to 29370 and the 30360 to 30450 region. Beyond that sellers should appear near 30920 to 31020 and cap a rally.
JUNE UNLEADED GAS
Support should appear near 27750 to 27580 and 27240 to 27160. Below that buyers should appear near 26720 to 26630 and the 26200 to 26120 region.
Resistance should appear near 28200 to 28290 and 28740 to 28830. Beyond that sellers should appear near 29280 to 29370 and cap a rally.
JUNE NATURAL GAS
Resistance should appear at 4110 to 4120 and 4163 to 4183.
Support should appear near 3929 to 3909 and 3867 to 3858.
Pick Your Poison.
THE GRANDE’ GRAINS
JULY SOYBEANS
Support should appear near 1383 to 1377, a close under is negative and augurs for a test of 1346 to 1334 and eventually the 1310 to 1304 region.
Resistance should appear near 1399 and the 1415 to 1421 region. Beyond that sellers should appear near 1453 to 1459.
NOVEMBER SOYBEANS
Support should appear near 1203 to 1192, below that a trade towards 1169 to 1164 is likely.
Resistance should appear near 1232 to 1238 and the 1268 to 1274 region.
Traders can sell at 1229 and risk a close over 1241 for three days in a row.
JULY SOYOIL
Resistance should appear near 4973.00 to 4995. Beyond that sellers should appear near the 5056 to 5057 region and cap a rally.
Support should appear near the 4856 to 4845 and the 4785 to 4775 region. Below that a test of 4717 to 4695 is likely.
JULY SOYMEAL
Resistance should appear near 411.0 to 412.0 and 416.3 to 418.3. Beyond that sellers should appear near 423.8 to 424.9 and cap a rally.
Support should appear near 399.2 to 398.2 and 392.9 to 390.9. Below that buyers should appear near 386.7 to 385.8 and the 368.2 to 366.3 region which should contain a decline.
JULY CORN
Support should appear 643 to 641 ¼ and 635 to 633 ¾
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.
JULY WHEAT
Resistance should appear near 732 ¾ to 734 ¼ and 741 ¼ to 742 ¾. Beyond that sellers should appear near 748 ¾ to 751 ¼
Support should appear near 717 to 714 ¼ and 708 ¾ to 707 ½. Below that a test of 691 ¾ to 690 ¾ is likely.
THE LIVELY LIVESTOCK
JUNE CATTLE
Support should appear near 12177 and 12030 to 11920. Below that a test of 11690 to 11640 is likely.
Resistance should appear near 12320 to 12380 and the 12680 to 12740 region.
JUNE HOGS
Support should appear near 9157 to 9142 and the 9062 to 9042 region. Below that a test of 8967 to 8932 and the 8777 to 8762 region is likely to occur.
Resistance should appear near 9237. Traders can sell at 9237 or better and hold for lower prices.
Beyond that sellers should appear near 9312 to 9347 and the 9427 to 9442 region.
OCTOBER HOGS
Support should appear near 8137 to 8117 failure there is negative and augurs for a test of the 8047 to 8027 region.
Resistance should appear near the 8300 to 8317, beyond that sellers should appear near 8392 to 8407 and cap a rally.
THE SATISFYING SOFTS
JULY COFFEE
Support should appear near 13830 to 13770, a close under is negative and augurs for a test of 13460 to 13340 and the 13100 to 13040 region.
Resistance should appear near 14150 to 14210 and 14530 to 14590. Beyond that sellers should appear near 14840 to 14960.
JULY COCOA
Resistance should appear near 2461 to 2469 and the 2552 to 2568 region.
Support should appear near 2370 to 2354, a close under is negative and augurs for a test of 2322 to 2315 and eventually the 2226 to 2219 region.
JULY SUGAR
Resistance is near 1774 to 1780 and 1808 to 1822.
Support should appear near 1731 to 1738 and the 1696 to 1689 region.
JULY COTTON
Support should appear near 8490 to 8484 and 8314 to 8300. Below that a test of 8223 to 8194 is likely.
Resistance is near 8668 to 8683 and the 8762 to 8777 region
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 May 05, 2013
2:00 PM South Florida Beach Time
THIS PUBLICATION IS SUBJECT TO REVISIONS AND CONTAINS THE VIEW AND OPINIONS OF THE AUTHOR, EXCEPT WHERE OPINIONS ARE ATTRIBUTED TO OTHER SOURCES. WRITTEN PERMISSION IS REQUIRED PRIOR TO ANY DISTRIBUTION OR REPRODUCTION. FUTURES AND FOREIGN EXCHANGE TRADING IS RISKY AND CAN CAUSE SUBSTANTIAL FINANCIAL LOSS. THE USE OF OPTIONS AND OPTION TRADING INVOLVES A HIGH DEGREE OF RISK. THE USE OF STOPS MAY NOT LIMIT LOSSES TO INTENDED AMOUNTS. SPREAD POSITIONS MAY NOT BE LESS RISKY THAN OUTRIGHT FUTURES POSITIONS, FOREIGN EXCHANGE AND OPTIONS. TRADING FUTURES AND FOREIGN EXCHANGE ON MARGIN CARRIES A HIGH LEVEL OF RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS. PLEASE TRADE WITH CAPITAL YOU CAN AFFORD TO LOSE. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. NO SOLICITATION IS MADE HERE FOR INDIVIDUALS TO BUY OR SELL FUTURES CONTRACTS, FOREIGN EXCHANGE OR OPTION MARKET. SOURCES ARE BELIEVED TO BE RELIABLE BUT NO ASSURANCE IS MADE FOR ACCURACY. READERS ARE SOLEY RESPONSIBLE FOR HOW THEY USE THE INFORMATION AND FOR THEIR RESULTS. YOU SHOULD BE AWARE OF ALL THE RISKS ASSOCIATED WITH FUTURES AND FOREIGN EXCHANGE AND SEEK ADVICE FROM AN INDEPENDENT FINANCIAL ADVISOR IF YOU HAVE ANY DOUBTS, THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN FUTURES AND FOREIGN EXCHANGE TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS. INTERNET RISKS ; THERE ARE RISKS ASSOCIATED WITH UTILIZING AN INTERNET BASED SERVICE INCLUDING BUT NOT LIMITED TO, FAILURE OF HARDWARE, SOFTWARE AND INTERNET CONNECTION, FUTURESCOM EMPLOYS BACK-UP SYSTEMS AND CONTINGENCY PLANS TO MINIMIZE THE POSSIBILITY OF SYSTEM FAILURE
FuturesCom Bi-Weekly Investment Outlook # 421 Sunday May 05, 2013 Equity Indices – Treasuries – Currency Trading – Forex – Precious Metals – Energy – Grains – Livestock – Softs Comments
FuturesCom Investment Publications Terms of Use and Agreement https://www.futurescom.com/policies.html FuturesCom Investment Publications © 1996 – 2013 All Rights Reserved.
