Futures Trading Newsletter , Bi-Weekly Investment Outlook #500
FuturesCom Futures Trading Newsletter Saturday May 21st 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
“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” –Thomas A. Edison–
Saturday May 21, 2016
9:00 PM, South Florida Beach Time
U.S. stock markets remain in the same broad trading range. The Memorial Day holiday and month end are around the corner. Traders should remain nimble and stay tuned for additional flashes and updates into the month end.
Contact our office if you need long or short term analysis for global equities, foreign exchange markets or commodities not covered today.
Forex Markets;
The U.S. dollar index is higher on the month and remains lower on the year.
Spot euro (EUR/USD) and futures fell under the 11300 to 11300 region. Resistance is 11300 to 11360 and 11640 to 11690. Support is now 11010 to 10960. (GBP/USD) and British Pound futures are still near multi-year lows. The June 23rd vote on the United Kingdom’s separation from the European Union is directly ahead. Cable has nearby support is at 14210 to 14150 and 13830 to 13770. Resistance is near 14530 to 14590 and 14840 to 19460. USD/CAD moved up and continues to trade with high volatility. Support is near 13100 to 10340 and 12890. Resistance is now 13340 to 13460.
The Dollar-Yen has resistance at 11300 to 11360. Support is at 10890 and 10680 to 10580. Long term, Japan’s economic situation is only going to get worse. The Aussie Dollar and Kiwi (New Zealand Dollar) remain weak. Long term nothing has changed, Traders should sell rallies in both and look for lower prices down the road. The Chinese Yuan has resistance at 6.577 to 6.591 and is likely heading to 6.659 to 6.673. Support remains at is now at 6.509 to 6.486.
Precious Metals; Gold is lower on the month, silver fell hard and is lower on the month and the a little higher that one year ago. Copper is lower year over year, on the month and slightly lower on the year. Sell a rally. Energies; Crude Oil, Crude products and Natural Gas remain trading affairs.
Traders should stay tuned for flashes and updates.
Fundamental updates are available on all commodities, if you need them ask.
Soybeans and meal surged higher on supply fears in in the Southern Hemisphere. Soymeal is now pricey. Bean Oil acts lousy and is now a trading affair. Corn is stuck in a broad trading range. Selling Corn in Mid-June tends to make money into the end of June. The U.S. crop is well under way now. Wheat rallied and fell back. Wheat tends to make the lows for the year in late July or even August. Sell a rally in Sept Wheat this week for a trade. Stay tuned for flashes in Grains
Livestock; Live Cattle futures and Hogs continue trade in a fairly wide range. We will continue to trade all months, stay tuned for livestock flashes.
The U.S. Department of Agriculture (USDA) released the monthly Cattle on Feed Report after the close on Friday. USDA data showed cattle moving into feed yards expanded with April placements at 1,664 million head, 7 percent higher than a year. Sales of fattened cattle leaving feedlots for slaughter plants totaled 1.658 million head, a 1 percent increase from a year ago. The total number of cattle in feedyards was 10.783 million head on May 1, 2016. The inventory was 1 percent above May 1, 2015.
Soft Commodities; Coffee moved up, we shorted took profits and resold. Sell rallies in Coffee.
Sugar acts better on supply deficit’s. Traders can buy a hard decline in October sugar.
Cocoa and Cotton act lousy and are trading in wide ranges. We missed selling cocoa by a hair and it fell apart. Cocoa will likely bounce and can be traded from both sides. Long term its going lower, a lot lower.
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 16,960.00 to 16,890.00
Resistance is at 17,740.00 to 17,800.00 and 18,080.00 to 18,220.00
DOW JONES TRANSPORTS
Support should appear near 7601.00 to 7587.00 and 7513.00 to 7486.00. Below that buyers should appear near 7342.00 to 7328.00 Resistance should appear near 7763.00 to 7777.00 and the 7939.00 to 7954.00 region.
JUNE E-MINI SP500
Resistance should appear at 2061.00 and the 2080.00 to 2089.00 region.
Support should appear near 2042.00 to 2034.00 and the 1996.00 to 1982.00 region.
NASDAQ COMPOSITE
Resistance should appear 4845.00 to 4856.00 and the 4915.00 to 4926.00 region
Support should appear near 4717.00 to 4695.00 and the 4582.00 to 4571.00 region.
JUNE E-MINI NASDAQ 100
Support should appear near 4315.00 to 4304.00 and 4183.00 to 4163.00.
Resistance is at 4370.00 to 4381.00 and the 4503.00 to 4514.00 region.
JUNE E-MINI RUSSELL 2000
Resistance should appear near 1130.00 to 1136.00 and 1164.00 to 1169.00.
Support should appear near 1101.00 to 1096.00 and the 1068.00 to 1058.00 region.
JUNE 30 YR BONDS
Resistance should appear near 165-21 and 166-07. Beyond that sellers should appear near
167-07 and 168-21
Support should appear near 163-07. Below that a test of 161-21 is likely.
JUNE 10 YR NOTES
Resistance should appear near 130-07 and 130-21, beyond that sellers should appear near 131-07.
Support should appear near 128-21. Below that a test of 127-21 and 126-07 is likely.
THE FRENZIED FOREX FRONT
JUNE DOLLAR INDEX
Resistance should appear near 9625 to 9641 and the 9706 to 9738 region. Support should appear near 9473 and 9347 to 9316.
JUNE JAPANESE YEN
Resistance should appear near 9140 to 9156 and 9316 to 9347. Support should appear near 9060 to 9044and 8964 to 8934.
Pick your Poison.
JUNE EURO CURRENCY
Support should appear near the 11010 to 10960 region. Resistance should appear near the 11300 to 11360. Traders can sell at 11297 and risk a close over 11367 for three days in a row.
JUNE SWISS FRANC
Resistance should appear near 10104 to 10136 and 10187.
Support should appear near 10037 to 10021, below that a test of 9937 to 9921 is likely.
JUNE BRITISH POUND
Support should appear near 14210 to 14150 and 13830 to 13770. Resistance should appear near 14530 to 14590 and the 14840 to 14960 region.
JUNE CANADIAN DOLLAR
Resistance should appear near 7675 to 7689 and 7763 to 7777.
Support should appear near 7601 to 7587, below that a test of 7342 to 7328 is likely.
JUNE AUSSIE DOLLAR Resistance should appear near the 7242 to 7255 and 7328 to 7342.
Support should appear near 7170 to 7143 and the 7088 to 7074 region.
THE PRECIOUS METALS
JUNE GOLD
Resistance should appear near 1268.0 to 1274.0 and 1304.0 to 1310.0
Support should appear near 1238.0 to 1232.0, below that a test of 1203.0 to 1192.0 is likely.
JULY COPPER
Resistance should appear 21700 to 21850 and 22160 to 22190. Support should appear near 19960 to 19820 and 19090 to 19020.
JULY SILVER
Support should appear near 1642. Below that a test of 1615 to 1609 is likely.
Resistance is at 1689.0 to 1696.0 and 1731.0 to 1738.0
THE EXCITING ENERGIES
JULY CRUDE OIL
Support should appear near 4717 to 4695, a close under is negative and augurs for a test of 4650 to 4639 and the 4582 to 4571 region. Below that buyers should appear near 4514 to 4503 and 4381 to 4370. Resistance should appear near 4915 to 4926 then 4973 to 4995 and 5056 to 5067.
AUGUST CRUDE OIL
Support should appear near 4856 to 4845 and 4717 to 4695. Resistance should appear near 4915 to 4926 and 5056 to 5067.
JULY BRENT CRUDE OIL
Support should appear near 4785 to 4775 and the 4717 to 4695 region. Resistance should appear near 4915 to 4926 then 4973 to 4995 and 5056 to 5067.
JULY HEATING OIL
Support should appear near 14210 to 14150 and 13830 to 13770.
Resistance should appear 14960 then 15290 to 15350 and 15690 to 15760.
JULY UNLEADED GAS
Support should appear near 16150 to 16090 and 15760 to 15690
Resistance should appear 16420 to 16550 and 16890 to 16960
JULY NATURAL GAS
Support should appear near 20890 to 20800 and 2042 to 2034.
Resistance should appear near 2219 to 2226 and the 2315 to 2322 region.
THE GRANDE’ GRAINS
JULY SOYBEANS
Support should appear near 1047 and 1036 to 1032.
Resistance should appear near 1096 to 1101 and 1130 to 1136
JULY SOYOIL Support should appear near 3045 to 3036 and 2990 to 2972
Resistance should appear near 3148 to 3157 and 3194 to 3213 JULY SOYMEAL
Resistance should appear near 416.3 to 418.3 and 430.4 to 431.5
Support should appear near 368.2 to 366.3 and 356.2 to 355.3.
JULY CORN
Support should appear near 386 ¾ to 385 ¾ and 368 ¼ to 366 ¼.
Resistance should appear near 404 ¾ to 405 ¾ then 411 to 412 and 416 ¼ to 418 1/4
JULY WHEAT Support should appear near 458 ¼ to 457 ¼ and 444 ¾ to 442 ½ region. Below that a test of 431 ½ to 430 ¼ is likely.
Resistance should appear near 469 ½ to 471 ¾ and 477 ½ to 478 ½. Beyond that sellers should appear near 484 ½ to 485 ¾. Traders can sell at September at 491 and hold for lower prices.
THE LIVELY LIVESTOCK
JUNE CATTLE
Support should appear 12030 to 11920. A close under augurs for a test of 11690 to 11640. Below that buyers should appear near 11500
Resistance should appear near 12320 to 12380 and 12530.
AUGUST CATTLE
Support should appear 11690 to 11640. Below that a test of 11537 is likely.
Resistance should appear near 11920 to 12030 and 12172.
JUNE HOGS
Resistance should appear near 80276 to 8042 and the 8192 to 8222 region.
Support should appear near 7957 to 7937 and the 7867 to 7832 region.
AUGUST HOGS
Resistance should appear near 8027 to 8047 and the 8117 to 8137 region.
Support should appear near 7867 to 7837 and 7777 to 7762. Traders should sell at 8117 and hold for lower prices.
THE SATISFYING SOFTS
JULY COFFEE
Resistance should appear near 12680 to 12740 then 12890 and 13040 to 13100 Support should appear near the 12380 to 12320, a close under is negative and augurs for a test of 12030 to 11920.
JULY COCOA Support should appear near 2883 to 2874 and the 2775 to 2758 region. Resistance should appear near 3036 to 3045 and 3092 to 3102. JULY SUGAR Resistance is near 1808 to 1822 and the 1858 to 1868 region. Support should appear near 1655 to 1642 and the 1615 to 1609 region. JULY COTTON Support should appear near 6113 to 61010 and 6035 to 6023. Resistance should appear near 6337 to 6350 and the 6417 to 6430 region. Traders can sell at 6337 and hold for lower prices.
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 22, 2016 12:00 Noon South Florida Beach Time
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