Futures Trading Newsletter , Bi-Weekly Investment Outlook #497.
FuturesCom Futures Trading Newsletter Sunday April 10, 2016. SP500 and Equity Indices • Bonds • Currency Trading • Forex • Precious Metals • Energy • Grains • Livestock • Coffee • Sugar • Cocoa • Cotton. for a Free Two Week trial to our Futures Trading Newsletter see https://futurescom.com/free-trial-2
Courage in a Speculator is merely confidence to act on the decision of his mind.
Saturday April 9th 2016
7:00 AM, South Florida Beach Time
We remain light in exposure and positions. Traders should remain nimble and stay tuned for flashes and updates. Contact our office if you need long or short term analysis for global equities, foreign exchange markets or commodities not covered today.
U.S. stock markets have traded choppy with wide ranges but have been largely sideways. The SP500 is essentially at prices seen around last Thanksgiving and Thanksgiving 2014.
Forex Markets; The U.S. dollar index remains lower on the year and on the month. Spot euro (EUR/USD) and futures are above the 11360 to 11300 region. Resistance is 11640 to 11690.
Cable (GBP/USD) and British Pound futures are trading choppy and near multi-year lows amidst more talk about the June 23rd vote on the United Kingdom’s possible separation from the European Union. Cable has nearby support is at 13830 to 13770. Resistance is near 14390 and 14530 to 14590. USD/CAD continues to trade with high volatility and has support near 12890 and the 12740 to 12680
region. Resistance is at 13040 to 13100 and 13220. The Dollar-Yen has resistance now at 10890 and 10960 to 11010. Support is now 10680 to 10580 and 10360 to 10320, stay tuned for yen trades.
The Aussie Dollar traded in a wide range and the Kiwi (New Zealand Dollar) continues to trade largely rangebound. The spot Chinese Yuan moved down and has support at 6.430 to 6.417. Resistance is at 6.483 to 6.509.
Precious Metals; Gold and silver remain trading affairs. Copper fell apart and lower prices appear in front of the market rather than behind it. Sell a rally in copper and get short.
Energies; Crude Oil continues to trade very choppy and with a wide range. Crude Oil, the products and Natural Gas remain trading affairs. Crude Oil and the products tends to make a high in Mid to late April and drift lower into June. The Oil cartel is meeting near the end of the week.
Stay tuned for flashes in Energies. Grains; The Monthly USDA Supply and Demand report is due out on Tuesday. Soybeans have firmed up and along with Corn are higher on the year. Wheat has traded soft. Traders should sell July Wheat on a rally and should also consider selling July Corn. Stay tuned for grain flashes before and after the report.
Livestock; Live Cattle fell apart and summer Hog futures have traded in a wide range. Nearby April hogs have traded weak and made new recent lows on Friday. Consider selling summer hogs for a trade, buying October and selling August when October is 1150 to 1250 under August may work.
Stay tuned for livestock flashes and updates.
Soft Commodities; Coffee fell apart and is likely to remain weak. Coffee is lower on the year.
Cocoa and Sugar have traded soft once again. Seasonally Sugar tends to decline thru April into the first week of May. The long term Cocoa works remains negative. Sell rallies in the July contracts. Cotton has firmed up and tends to see lower prices into early May, sell this rally.
Traders should stay tuned for additional flashes and updates. Please call the office or use the instant message system if you need more details or analysis on a specific market.
On to the Nitty Gritty.
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE Support is at 17,380.00 to 17,310.00 and 17,125.00. Below that buyers should appear near
the 16,960.00 to 16,890.00 region.
Resistance remains near 17,740.00 to 17,800.00 and the 18,080.00 to 18,220.00 region.
DOW JONES TRANSPORTS
Support should appear near 7513.00 to 7486.00 and the 7342.00 to 7328.00 region.
Resistance should appear near 7939.00 to 7954.00. Beyond that sellers should appear near 8029.00 to 8044.00 and cap a rally.
JUNE E-MINI SP500
Resistance should appear at 2061.00 and the 2080.00 to 2089.00 region.
Support should appear near 2015.00 and the1996.00 to 1982.00 region.
NASDAQ COMPOSITE
Resistance should appear 4915.00 to 4926.00. Beyond that sellers should appear near 5056.00 to 5067.00 and cap a rally.
Support should appear near 4785.00 to 4775.00 and the 4717.00 to 4695.00 region.
JUNE E-MINI NASDAQ 100
Support should appear near 4446.00 to 4435.00, a close under augurs for a test of 4381.00 to 4370 and the 4315.00 to 4304.00 region.
Resistance is at 4503.00 to 4514.00 region. Beyond that sellers should appear near 4571.00 to 4582.00 region. Above that resistance is at 4639.00 to 4650.00 and should cap a rally.
JUNE E-MINI RUSSELL 2000
Resistance should appear near 1115.00 and the 1130.00 to 1136.00 region. Beyond that sellers should appear near 1164.00 to 1169.00
Support should appear near 1082.00, below that a test of 1068.00 to 1058.00 is likely.
JUNE 30 YR BONDS
Resistance should appear near 168-07 and 169-21. Beyond that sellers should appear near 171-07
Support should appear near 165-07 and 164-21. Below that buyers should appear near 163-07
JUNE 10 YR NOTES
Resistance should appear near 132-17, beyond that a test of 133-07 is likely.
Support should appear near 129-07 and 128-21. Below that buyers should appear near 127-21.
THE FRENZIED FOREX FRONT
JUNE DOLLAR INDEX
Resistance should appear near 9526 to 9542, a close over is friendly and augurs for a test of the
9625 to 9641 region. Beyond that sellers should appear near 9706 to 9738. Support should appear near 9347 to 9316, below that a test of 9156 to 9140 is likely.
JUNE JAPANESE YEN
Resistance should appear near 9316 to 9347. A close over is friendly and augurs for an eventual
test of 9706 to 9737 Support should appear near 9156 to 9140 and the 9060 to 9044 region.
JUNE EURO CURRENCY
Support should appear near 11360 to 11300, a close under augurs for a test of 11010 to 10960. Resistance should appear near 11500 and the 11640 to 11690 region. Traders can sell at 11633 and risk a close over 11697 for three days in a row.
JUNE SWISS FRANC
Resistance should appear near 10580 to 10680 and 10815
Support should appear near 10470 and 10360 to 10320.
JUNE BRITISH POUND
Support should appear near 13990 and 13830 to 13770. Below that a test of 13460 to 13340 is likely. Resistance should appear near 14150 to 14210 and 14367 where sellers should cap a rally.
Beyond that resistance should appear near 14530 to 14590.
JUNE CANADIAN DOLLAR
Resistance should appear near 7763 to 7777, beyond that a test of 7836 to 7864 is likely to occur.
Support should appear near 7689 to 7675 and the 7601 to 7586 region.
JUNE AUSSIE DOLLAR Resistance should appear near the 7587 to 7601 region. Beyond that sellers should appear near 7675 to 7689 and cap rally.
Support should appear near 7428 to 7414 and the 7342 to 7328 region.
Stay tuned for forex flashes.
THE PRECIOUS METALS
JUNE GOLD
Resistance should appear near the 1268.0 to 1274.0 region. Beyond that a test of 1304.0 to 1310.00 is likely and should bring out some sellers
Support should appear near 1238.0 to 1232.0. Below that buyers should appear near 1203.0 to 1192.0
MAY COPPER
Resistance should appear 21260 to 21340, traders can sell at 21260 and hold for lower prices.
Beyond that sellers should appear near the 21700 to 21850 region and a cap a rally.
Support should appear near 19090 to 19020, below that a test of 18220 to 18080 is likely.
MAY SILVER
Support should appear near 1496.0 to 1489.0 region. Below that buyers should appear near 1459.0 to 1453.0.
Resistance is at the 1569.0 to 1576.0 region. beyond that sellers should appear near 1642.0 to 1655.0
THE EXCITING ENERGIES
MAY CRUDE OIL
Support should appear near 3806 to 3795 and the 3743 to 3734 region. Below that buyers should appear near 3623 to 3613 and the 3563 to 3553 region.
Resistance should appear near 3982 to 3992 then 4046 to 4056. Beyond that sellers should appear near 4110 to 4120 and the 4163 to 4183 region.
JUNE CRUDE OIL
Support should appear near 4056 to 4046 and the 3929 to 3909 region. Below that buyers should appear near 3682 to 3663.
Resistance should appear near 4110 to 4120 then 4163 to 4183 and the 4238 to 4249 region.
JUNE BRENT CRUDE OIL
Support should appear near 4120 to 4110 and 4992 to 3982. Below that buyers should appear near 3806 to 3795 and contain a decline
Resistance should appear near 4304 to 4315 and 4370 to 4381. Beyond that sellers should appear near 4425 to 4446 and cap a rally.
MAY HEATING OIL
Support should appear near 11920 and 11690 to 11640. Below that as test of 11380 to 11320 is likely.
Resistance should appear 12320 to 12380 and the 13040 to 13100 region. Beyond that sellers should appear near 13340 to 13460 and cap a rally.
MAY UNLEADED GAS
Support should appear near 14590 to 14530. A close under is negative and augurs for a test of 14210 to 14150.
Resistance should appear 14840 to 14960 and the15290 to 15340 region. Beyond that sellers should appear near 15690 to 15760 and cap rally. Stay tuned for flashes.
MAY NATURAL GAS
Support should appear near 1.953 to 1.946 and the 1.909 to 1.902 region. Resistance should appear near 2034 to 2042 and 2080 to 2089 region.
THE GRANDE’ GRAINS
MAY SOYBEANS
Support should appear near 887 ¼ to 885 ¾ and the 877 ¾ to 876 ¼ region. Below that a test of
858 ¾ to 856 is likely.
Resistance should appear near 931 ¾ to 934 ¾ and 942 ¾ to 944 ½
MAY SOYOIL Support should appear near 3386 to 3377, a close under augurs for a test of 3328 to 3319 and the 3270 to 3261 region.
Resistance should appear near the 3425 to 3443 region. Beyond that sellers should appear near 3493 to 3503 and a cap a rally.
MAY SOYMEAL
Resistance should appear near 282.0 to 282.9 and the 287.4 to 288.3 region, where sellers should appear and cap a rally.
Support should appear near 267.2 to 266.3 and the 262.0 to 261.2 region.
MAY CORN
Support should appear near 356 ¼ to 355 ¼ region. Below that a test of 350 1/2 to 349 ¼ is likely.
Resistance should appear near 366 ¼ to 368 ¼ and 373 ½ to 374 ¼ region.
MAY WHEAT Support should appear near 458 ¼ to 457 ¼ and 444 ¾ to 442 ½ region.
Resistance should appear near 469 ½ to 471 ½ and the 484 ½ to 485 ¾ region.
Traders should sell July Wheat at 477 ¾ and risk a close over 487 for three days in a row.
THE LIVELY LIVESTOCK
JUNE CATTLE
Support should appear 12380 to 12320. A close under augurs for a test of 12030 to 11920.
Resistance should appear near 12527. Beyond that sellers should appear near the 12680 to 12740 region and cap a rally. Traders can sell at 12677 and hold for lower prices.
AUGUST CATTLE
Support should appear 11920, a close under augurs for a test of 11690 to 11640. Below that a test of 11360 to 11300 is likely.
Resistance should appear near 12030 and 12175. Beyond that sellers should appear near the
12320 to 12380 region.
JUNE HOGS
Resistance should appear near 8117 to 8137. Beyond that sellers should appear near
8192 to 8222 and the 8297 to 8317 region.
Support should appear near 7957 to 7932 and the 7777 to 7762 region. Traders should go short if a close under 8027 occurs.
AUGUST HOGS
Resistance should appear near 8027 to 8047 and the 8117 to 8137 region.
Support should appear near 7867 to 7837 and the 7777 to 7762 region.
THE SATISFYING SOFTS
JULY COFFEE
Resistance should appear near 12320 to 12380. Beyond that sellers should appear near 12680 to 12740 and cap a rally. Support should appear near the 12030 to 11920 region. Below that a test of 11690 to 11640 is likely.
JULY COCOA
Support should appear near the 2883 to 2874 region and the 2829 to 2820 region. Below that a test of 2775 to 2758 is likely. Resistance should appear near 2928 to 2937. Beyond that sellers should appear near 2972 to 2990. Traders can sell at 2967 and hold for lower prices. JULY
SUGAR
Resistance is near 1529 to 1535. Beyond that sellers should appear near the 1569 to 1576 region. Traders can sell at 1527 and risk a close over 1542 for three days in a row. Support should appear near 1459 to 1453 and 1383 to 1377
JULY COTTON
Support should appear near 5945 and the 5880 to 5855 region. Below that a test of 5577 to 5553 is likely. Resistance should appear near the 6023 to 6035 region, Traders can sell at 6020 and hold for lower prices. Beyond that sellers should appear near 6101 to 6113 and 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 April 10, 2016 8:30 AM South Florida Beach Time
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