Futures Trading Newsletter , Bi-Weekly Investment Outlook #505
FuturesCom Futures Trading Newsletter Sunday July 31 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
‘A lot of people approach risk as if it’s the enemy, when it’s really fortunes accomplice’
Saturday July 30, 2016
8:00 AM, South Florida Beach Time
Traders should continue to stay nimble and expect wide movements in all markets. Stay tuned for flashes, updates and additional recommendations. U.S. stock markets ended the month near all-time highs last week. The U.S. dollar index plunged on Friday. The Euro (EUR/USD) has resistance at 11300 to 11360 and 11500. Support remains at 11010 to 10960. (GBP/USD) British Pound futures has support is near 13100 to 1304 and the 12740 to 12680 region. Resistance remains near 13340 to 13460 and 13770 to 13830. Continue to sell rallies. USD/CAD (Canadian Dollar) support remains near 12740 to 12680. Resistance is 13040 to 13100 and 13340 to 13460. The USD/CAD tends to drift higher now and we want to buy CAD on dips and sell futures on rallies. Buy dips against 12890 and 12740. Dollar Yen (USD/JPY) fell apart after stalling against 10580 to 10680. Nearby resistance is now 10320 to 10360 and 10470. Support is at 10136 to 10120. The Japanese policy makers, both fiscal and monetary have been saying and doing the same thing for the past generation. Nothing has changed. The Aussie and Kiwi remain trading affairs. China’s Yuan pulled back. Resistance is now 6.659 to 6.673 and 6.743 to 6.755. Support is near 6.591 to 6.577
Precious Metals; Gold and silver moved up, copper is a trading affair. The Long term copper outlook is still precarious. Look for a trading ranges in precious metals and stay tuned for flashes. Energies; Crude Oil and the products resumed bear markets according to wall street’s 20 percent rule and will likely trade in a wide range. Natural Gas acts better on hot weather. Stay tuned for energy flashes and updates. The Grains continue to trade in a typical ‘large crop’ summer trade manner. The wheat harvest is nearly done Traders should keep an eye on wheat for trades. December wheat near the lowest level for the current July contract may offer value. Hogs and cattle continue to trade in wide ranges. We will send out livestock updates and flashes daily. Soft Commodities; Sugar likely made the summer highs and can fall into October. Cotton remains a trading affair. We want to continue to sell a rally in Sept or December Cocoa. Stay tuned for coffee flashes. Brazil’s government is going to auction coffee every two weeks to alleviate the tight supply.
Stay tuned updates and flashes. On to the Nitty Gritty.
THE SENSATIONAL STOCK AND BOND MARKET
DOW JONES INDUSTRIAL AVERAGE Support is at 18,220.00 to 18,080.00 and 17,940.00.
Resistance is at 18,580.00 to 18650.00 and the 19,020.00 to 19,090.00 region.
DOW JONES TRANSPORTS
Support should appear near 7777.00 to 7763.00 and the 7513.00 to 7486.00 region. Resistance should appear near 8029.00 to 8044.00. Beyond that sellers should appear near the 8300.00 to 8314.00 region.
SEPT E-MINI SP500
Resistance should appear near 2170.00 to 2185.00. Beyond that sellers should appear near the 2219.00 to 2226.00 region. Support should appear near 2134.00 to 2126.00 and 2107.50.
NASDAQ COMPOSITE
Resistance should appear 5200.00 to 5211.00 and the 5344.00 to 5356.00 region.
Support should appear near 5067.00 to 5056.00 and 4995.00 to 4973.00.
SEPT E-MINI NASDAQ 100
Support should appear near 4717.00 to 4695.00 and 4650.00 to 4639.00
Resistance is at 4845.00 to 4856.00 and 4973.00 to 4995.00
SEPT E-MINI RUSSELL 2000
Resistance should appear near 1232.00 to 1238.00 and the 1268.00 to 1274.00 region.
Support should appear near 1203.00 to 1192.00 and 1168.00 to 1164.00.
SEPT 30 YR BONDS
Resistance should appear near 175-21 and 177-07 and 178-21
Support should appear near 173-21 and 172-07. Below that a test of 171-21 is likely.
SEPT 10 YR NOTES
Resistance should appear near 134-21 and 135-07 and 137-21.
Support should appear near 132-07. Below that buyers should appear near 131-07 and 130-21.
THE FRENZIED FOREX FRONT
SEPT DOLLAR INDEX
Resistance should appear near 9625 to 9641 and 9706 to 9737. Support should appear near 9347 to 9316 and 9156 to 9140.
JAPANESE YEN
Resistance should appear 10021 to 10037 and 10104 to 10136. Support should appear near 9706 and 9641 to 9625. Below that buyers should appear near 9445 to 9429.
SEPT EURO CURRENCY
Support should appear near 11010 to 10960. Resistance should appear near 11300 to 11360.
SEPT SWISS FRANC
Resistance should appear near 10470 and 10580 to 10680
Support should appear near 10136 to 10104 and 10037 to 10021.
SEPT BRITISH POUND
Support should appear near 13100 to 13040 and 12740 to 12680
Resistance should appear near 13340 to 13460 and the 13770 to 13830 region.
Traders can sell at 13761 and hold for lower prices.
SEPT CANADIAN DOLLAR
Resistance should appear near 7675 to 7689 and 7763 to 7777.
Support should appear near 7601 to 7587 and 7513 to 7486.
Traders can sell if a close under 7584 occurs.
SEPT AUSSIE DOLLAR Resistance should appear near 7601 and the 7675 to 7689 region.
Support should appear near 7513 to 7486 and the 7428 to 7414 region. Traders should go short if a close under 7483 occurs.
THE PRECIOUS METALS
DECEMBER GOLD
Resistance should appear near 1377 to 1383 and 1415.0 to 1421.0
Support should appear near 1346.0 to 1334.0 and the 1310.0 to 1304.0 region.
SEPT COPPER
Resistance should appear the 22670 to 22750 region. Beyond that sellers should appear near
23150 to 23220 and cap a rally. Support should appear near 21850 to 21700 and the 20890 to 20800 region.
SEPT SILVER
Resistance should appear near 2080.0 to 2089.0 and 2126.0 to 2134.0
Support is at 1996.0 to 1989.0 and the 1909.0 to 1902.0 region.
THE EXCITING ENERGIES
SEPTEMBER CRUDE OIL
Support should appear near 3992 to 3982 and 3929 to 3909. Below that a test of 3806 to 3795 is likely.
Resistance should appear near 4238 to 4249 and the 4304 to 4315 region. Beyond that sellers should appear near 4370 to 4381.00
Traders should go short if a close under 4045 occurs.
OCTOBER CRUDE OIL
Support should appear near 4120 to 4110 and 4056 to 4046 and 3929 to 3909.
Resistance should appear near 4238 to 4249 then 4304 to 4315 and 4425 to 4446.
Traders should go short if a close under 4107 occurs.
OCTOBER BRENT CRUDE OIL
Support should appear near 4249 to 4238 and 4183 to 4163 and 4120 to 4110
Resistance should appear near 4370 to 4381 then 4425 to 4446 and 4503 to 4514.
SEPT HEATING OIL
Support should appear near 12740 to 12680 and the 12030 to 11920 region.
Resistance should appear near 13100 and 13340 to 13460. Beyond that sellers should appear near 13770 to 13830.
SEPT UNLEADED GAS
Support should appear near 12740 to 12680 and 12380 to 12320
Resistance is at 13340 to 13460 and the 13770 to 13830 region.
SEPT NATURAL GAS
Support should appear near 2829 to 2820 and 2724 to 2716 Resistance should appear near 2972 to 2990 and 3036 to 3045
THE GRANDE’ GRAINS
SEPTEMBER SOYBEANS
Support should appear near 1013 ¾ to 1010 ½ and the 973 ½ to 970 ¾ region.
Resistance should appear near 1032 to 1036 and the 1058 to 1068 region.
NOVEMBER SOYBEANS
Support should appear near 983 ¾ to 982 ¼ and 954 ¼ to 952 ¾
Resistance should appear near 1032 to 1036 and 1047
SEPTEMBER SOYOIL Support should appear near 2990 to 2972 and the 2883 to 2874 region.
Resistance should appear near 3092 to 3102 and 3148 to 3157.
DECEMBER SOYMEAL
Resistance should appear near 361.3 to 362.3 and the 385.8 to 386.7 region.
Support should appear near 344.3 to 342.5 and 338.6 to 337.7. A close under augurs for a test of 321.3 to 319.4
SEPTEMBER CORN
Support should appear near 332 ¾ to 331 ¾ and the 327 to 326 ¼ region. Below that a test of 315 ¾ to 314 ¾ is likely.
Resistance should appear near 337 ¾ to 338 ¾ and 342 ½ to 344 ¼. Beyond that sellers should appear near 349 ¼ to 350 ½
SEPTEMBER WHEAT Support should appear near 399 ¼ to 398 ¼ and the 386 ¾ to 385 ¾ region.
Resistance should appear near 423 ¾ to 424 ¾ and the 437 to 438 ¼ region.
THE LIVELY LIVESTOCK
OCTOBER CATTLE
Support should appear near 11010 to 10960, a close under augurs for a test of 10890 and the 10680 to 10580 region. Resistance should appear near the 11300 to 11360 region. Beyond that sellers should appear near 11500 and the 11640 to 11690 region.
Traders should go short if a close under 10957 occurs.
DECEMBER CATTLE
Support should appear near 11157 and the 11010 to 10960 region.
Resistance should appear near 11300 to 11360 and the 11640 to 11690 region.
AUGUST HOGS
Support should appear near 6757 to 6742 and the 6672 to 6657 region.
Resistance should appear near 7072 to 7087 and the 7327 to 7342 region
OCTOBER HOGS
Resistance should appear near 6022 to 6037 and 6102 to 6117 and the 6337 to 6352 region.
Support should appear near 5880 to 5855 and 5732 to 5717. Below that a test of 5577 to 5552 is likely.
Stay tuned for livestock flashes
THE SATISFYING SOFTS
SEPTEMBER COFFEE
Resistance should appear near 14840 to 14960. Beyond that sellers should appear near the 15290 to 15350 and 15690 to 15760 Support should appear near 14210 to 14150 and the 13830 to 13770 region. Below that a test of 13460 to 13340 is likely.
SEPTEMBER COCOA Support should appear near 2672 to 2663 and the 2568 to 2552 region. Resistance should appear near 2874 to 2883 and the 2972 to 2990 region. Traders can sell at 2927 and hold for lower prices.
OCTOBER SUGAR Resistance is near 1902 to 1909 and the 1982 to 1996 region. Support should appear near 1822 to 1808 and the 1780 to 1774 region.
DECEMBER COTTON Support should appear near 7342 to 7328 then 7255 to 7242 and 7170 to 7143. Resistance should appear near 7486 to 7512 and 7587 to 7601. Beyond that sellers should appear near 7763 to 7777 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 July 31, 2016 4:50 PM South Florida Beach Time
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