Futures Trading Newsletter , Bi-Weekly Investment Outlook #501
FuturesCom Futures Trading Newsletter Saturday June 04 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
“Accomplishments will prove to a be a journey, not a destination.” – Dwight d Eisenhower –
Saturday June 04, 2016
4:00 AM, South Florida Beach Time
Traders should remain nimble and stay tuned for flashes. 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 remain in the same broad trading range. Bonds moved up after Friday’s soft payroll report.
Janet Yellen is scheduled to speak Monday in front of the World Affairs Council of Philadelphia. Monday is also the 72nd anniversary of D-Day. The U.S. Federal Reserve meets June 14 to June 15.
The U.S. dollar index sold off sharply Friday and remains lower on the year. Euro (EUR/USD) resistance is at 11640 to 11690 and 11920 to 12030. Support is now 11300 and 11010 to 10960. (GBP/USD) British Pound futures are still near multi-year lows. Cable is likely to trade with a wide range during the next few weeks in response to the polls for the June 23rd vote on the U.K. separation from the European Union (Brexit). Cable support is at 14210 to 14150 and 13830 to 13770. Resistance is near 14530 to 14590 and 14840 to 19460. USD/CAD continues to trade with high volatility. Support is near 12890 and 12740 to 12680. Resistance is now 13040 to 13100 and 13340 to 13460. Dollar-Yen long term charts are turning down, resistance is at 10820 and 10960 to 11010. Nearby support is at 10580 and 10360 to 10320.
The Aussie and Kiwi firmed up after Friday’s jobs numbers. The Reserve Bank of Australia (RBA) is scheduled to meet and announce if there is any change to monetary policy Wednesday at 12:30 a.m. L
The China’s Yuan is testing resistance at 6.577 to 6.591, beyond that a trade towards 6.659 to 6.673. is likely, support is near 6.509 to 6.486.
Precious Metals; Gold and silver are both trading affairs. Copper tends to weaken into the end of June. Energies; Crude Oil and the products are trading affairs. Unleaded gas acts lousy. Natural Gas acts better. Traders should stay tuned for flashes and updates.
The USDA crop report is scheduled for release on Friday June 10th. Soybeans and soymeal have stalled a bit from the surge higher on supply fears in the Southern Hemisphere and both are now pricey. Bean Oil remains a trading affair. Corn moved up, selling Corn in Mid-June tends to make money into the end of June. Soybean and Corn are weather markets now. Wheat rallied. Wheat tends to make the lows for the year in late July or even August. Consider selling this rally. Livestock; Live Cattle futures and Hogs continue trade in wide ranges.
Stay tuned for flashes in both grains and livestock.
Soft Commodities; Coffee continues to trade choppy. Sell rallies in Coffee. Sugar continues to act better on a global supply deficit. Traders can buy a hard decline in October sugar. Cocoa and Cotton are trading affairs and are trading in wide ranges. We want to sell a rally in Sept or December Cocoa.
On to the Nitty Gritty.
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE Support is at 17,740.00 then 17,380.00 to 17,310.00 and 16,960.00 to 16,890.00
Resistance is at 17,940.00 then 18,080.00 to 18,220.00 and 18,580.00 to 18,650.00
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.
SEPT E-MINI SP500
Resistance should appear at 2107.50 and the 2126.00 to 2134.00 region.
Support should appear near 2080.00 then 2061.50 and 2042.00 to 2034.00.
NASDAQ COMPOSITE
Resistance should appear 5056.00 to 5067.00 and the 5127.00 to 5139.00 region.
Support should appear near 4956.00 to 4845.00 and the 4717.00 to 4695.00 region.
SEPT E-MINI NASDAQ 100
Support should appear near 4446.00 to 4425.00 and 4315.00 to 4304.00.
Resistance is at 4571.00 to 4582.00 and the 4639.00 to 4650.00 region.
SEPT E-MINI RUSSELL 2000
Resistance should appear near the 1192.00 to 1203.00 region.
Support should appear near the 1136.00 to 1130.00 region.
SEPT 30 YR BONDS
Resistance should appear near 167-21 then168-07 and 169-21
Support should appear near 165-12 and 164-21. Below that a test of 163-21 is likely.
SEPT 10 YR NOTES
Resistance should appear near 131-21 and 132-17. Beyond that a test of 133-21 is likely.
Support should appear near 130-07 and 129-21. Below that buyers should appear near 128-21.
THE FRENZIED FOREX FRONT
SEPT DOLLAR INDEX
Resistance should appear near 9429 to 9445 and 9526 to 9542 Support should appear near 9347 to 9316 and 9237
SEPT JAPANESE YEN
Resistance should appear near 9429 to 9445 and 9526 to 9542 Support should appear near 9347 to 9316 and 9237
SEPT EURO CURRENCY
Support should appear near 11300 and 11155. Below that buyers should appear near
the 11010 to 10960 region. Resistance should appear near 11500. Beyond that sellers should appear near 11640 to 11690. SEPT SWISS FRANC
Resistance should appear near 10320 to 10360 and 10580 to 10680
Support should appear near 10136 to 10104 and 10037 to 10021.
SEPT BRITISH POUND
Support should appear near 14370 then 14210 to 14150 and the 13830 to 13770 region. Resistance should appear near 14590 then 14712 and the 14840 to 14960 region.
SEPT CANADIAN DOLLAR
Resistance should appear near 7763 to 7777 and the 7836 to 7864 region.
Support should appear near 7689 to 7675 and 7601 to 7587.
SEPT AUSSIE DOLLAR Resistance should appear near 7414 to 7428 and the 7486 to 7513 region.
Support should appear near 7290 and the 7255 to 7240 region.
THE PRECIOUS METALS
AUGUST GOLD
Resistance should appear near 1268.0 to 1274.0 and the 1304.0 to 1310.0 region.
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 21260 to 21340 and 21700 to 21850. Support should appear near 19960 to 19820 and 19090 to 19020.
JULY SILVER
Support should appear near 1615 to 1609, below that a test of the 1576 to 1569 region is likely.
Resistance is at 1655 then 1689.0 to 1696.0 and the 1731.0 to 1738.0 region.
THE EXCITING ENERGIES
JULY CRUDE OIL
Support should appear near 4856 to 4845 and 4785 to 4775, a close under augurs for a test of 4650 to 4639 and the 4582 to 4571 region.
Resistance should appear near 4887 then 4915 to 4926 and 5056 to 5067
AUGUST CRUDE OIL
Support should appear near 4856 to 4845 then 4785 to 4775 and 4717 to 4695. Resistance should appear near 4915 to 4926 then 5056 to 5067 and 5127 to 5139 Traders should go short if a close under 4837 occurs.
AUGUST BRENT CRUDE OIL
Support should appear near 4785 to 4775 and the 4717 to 4695 region. Resistance should appear near 4973 to 4995 and 5127 to 5139
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 15760 to 15690 and 15350 to 15290.
Resistance should appear 16090 to 16150 and 16420 to 16550
Traders can sell at 16270 and hold for lower prices.
AUGUST NATURAL GAS
Support should appear near 2419 to 2410 and 2370 to 2354. Below that a test of 2275 to 2267 is likely.
Resistance should appear near 2612 to 2620. Beyond that sellers should appear near 2663 to 2672
THE GRANDE’ GRAINS
JULY SOYBEANS
Support should appear near 1101 to 1096 the 1082 and 1068 to 1058
Resistance should appear near 1136 then 1164 to 1169 and 1192 to 1203
AUGUST SOYBEANS
Support should appear near 1101 to 1096 and 1068 to 1058
Resistance should appear near 1130 to 1136 and 1164 to 1169
NOVEMBER SOYBEANS
Support should appear near 1068 to 1058 and 1047
Resistance should appear near 1096 to 1101 and 1130 to 1136
JULY SOYOIL Support should appear near 3157 to 3148 and the 3045 to 3036 region.
Resistance should appear near 3319 to 3328. Beyond that sellers should appear near the 3425 to 3443 region. Traders can sell at 3371 and hold for lower prices.
JULY SOYMEAL
Resistance should appear near 416.3 to 418.3 and 430.4 to 431.5. Beyond that sellers should appear near the 442.5 to 444.6 region.
Support should appear near 392.9 to 390.9 and the 368.2 to 366.3 region.
JULY CORN
Support should appear near 392 ¾ to 390 ¾ and 374 ½ to 373 ¾
Resistance should appear near 423 ¾ to 424 ¾ and the 437 to 438 ¼ region.
JULY WHEAT Support should appear near 485 ¾ to 484 ½, a close under augurs for a test of 471 ¾ to 469 ½
Resistance should appear near 505 ¾ to 506 ½ and the 512 ¾ to 513 ¾ region. Beyond that sellers should appear near 520 to 521 ¼ THE LIVELY LIVESTOCK
AUGUST CATTLE
Support should appear near 11690 to 11640 and the 11360 to 11300 region. Resistance should appear near 11920 to 12030 and 12320 to 12380.
OCTOBER CATTLE
Support should appear 11690 to 11640. Below that a test of 11537 is likely.
Resistance should appear near 11920 to 12030 and 12172.
JULY HOGS
Resistance should appear near 8667 to 8682 and 8762 to 8777
Support should appear near 8502 to 8482 and the 8317 to 8300 region.
AUGUST HOGS
Resistance should appear near 8667 to 8682 and 8762 to 8777
Support should appear near 8502 to 8482 and the 8317 to 8300 region.
THE SATISFYING SOFTS
JULY COFFEE
Resistance should appear near 12890 and 13040 to 13100. Beyond that sellers should appear near 13340 to 13460. Support should appear near 12530 and the 12380 to 12320 region. A close under is negative and augurs for a test of 12030 to 11920.
JULY COCOA Support should appear near 2937 to 2928 region, below that as test of 2883 to 2874 is likely. Resistance should appear near 3036 to 3045 and the 3092 to 3102 region. Beyond that sellers should appear near 3148 to 3157. JULY SUGAR Resistance is near 1902 to 1909 and the 1946 to 1953 region. Support should appear near 1780 to 1774 and the 1696 to 1689 region. Traders can buy October at 1787 and risk 25 points JULY COTTON Support should appear near 6113 to 6101 and 5880 to 5855. Resistance should appear near 6417 to 6430 and 6659 to 6673
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
Saturday June 04, 2016 10:45 PM South Florida Beach Time
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