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CONTACT INFORMATION

You can contact us by sending mail below or you can call toll free:

Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


ADDRESS

United Futures Trading Company, Inc.
9247 Broadway
Suite EE
Merrillville, IN 46410

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Weekly jobless claims come in at 386K

Top Day Recommendations

4.26

Weekly jobless claims come in at 386K. Tomorrow is first look at Q1 GDP.

Yesterday was a high volatility day with the gathering of several forces: Apple earnings, the FOMC decision which had a hawkish skew to it and the press conference of the Fed Chairman which had a dovish tone. Initially the response was curve steepening along the maturity horizon, this morning that’s momentarily off and a flattening is back. To say that the market is in flux is an understatement. Eventually, the manic fixation with QE3 will fade into memory but until then it’s a binary world of risk on/risk off and how are yield spreads in Europe this morning?

Week of April 23 - April 27

Date
ET
Release
For
Actual
Briefing.com Briefing.com
Prior
Revised
         
Forecast
Consensus
 
From
Apr
09:00
Case-Shiller 20-city
Feb
 
-3.4%
-3.4%
-3.8%
 
24
Index
   
             
Apr
10:00
Consumer Confidence
Apr
 
71.0
69.5
70.2
 
24
   
               
Apr
10:00
New Home Sales
Mar
 
320K
320K
313K
 
24
   
               
Apr
10:00
FHFA Housing Price
Feb
 
NA
NA
0.0%
 
24
Index
   
             
Apr
07:00
MBA Mortgage Index
04/21
 
NA
NA
6.9%
 
25
   
               
Apr
08:30
Durable Orders
Mar
 
-2.5%
-1.9%
2.4%
2.2%
25
 
               
Apr
08:30
Durable Goods -ex
Mar
 
0.0%
0.5%
1.8%
1.6%
25
Transportation
 
             
Date
ET
Release
For
Actual
Briefing.com Briefing.com
Prior
Revised
         
Forecast
Consensus
 
From
Apr
10:30
Crude Inventories
04/21
 
NA
NA
3.856M
 
25
   
               
Apr
12:30
FOMC Rate Decision
Apr
 
0.25%
0.25%
0.25%
 
25
   
               
Apr
08:30
Initial Claims
04/21
 
365K
373K
386K
 
26
   
               
Apr
08:30
Continuing Claims
04/14
 
3300K
3300K
3297K
 
26
   
               
Apr
10:00
Pending Home Sales
Mar
 
1.0%
0.5%
-0.5%
 
26
   
               
Apr
08:30
GDP-Adv.
Q1
 
2.6%
2.6%
3.0%
 
27
   
               
Apr
08:30
Chain Deflator-Adv.
Q1
 
2.0%
2.2%
0.9%
 
27
   
               
Apr
08:30
Employment Cost
Q1
 
0.5%
0.5%
0.4%
 
27
Index
   
             
Apr
09:55
Michigan Sentiment -
Apr
 
76.0
75.7
   
27
Final
     
             

MARKET PLACE

Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.

Legend

U is Up

D is Down

PRD is Potential Reversal Day

S2 is Weekly strong support

S1 is Weekly good support

DS is Daily Support

DR is Daily Resistance

R1 is Weekly Good Resistance

R2 is Weekly Strong Resistance

Levels are for the most active futures contract

    Daily Support and Resistance  
               
  Trend WS2 WS1 DS DR WR1 WR2
             
               
June PRD(U) 1344 1359 1375.25 1399.75 1390 1405
           
ES              
June D 2607 2640 2655 2755 2721 2769
           
Nasdaq              
June D 120.9 121.76 122.52 123.91 124.05 125.48
0          
Yen            
             
June PRD(U) 129.1 13068 131.91 132.79 133.00 133.82
8          
EC            
             
June U 131.0 131.11 131.10 132.04 131.30 132.07
           
10   0          
             
Year              
June PRD(D) 140.1 141.03 141.07 143.04 142.16 143.01
9          
30            
             
Year              
July PRD(U) 13.90 14.19 14.47 14.93 14.69 14.88
           
Soybea              
ns              
July D 5.77 5.90 5.90 6.11 6.17 6.31
           
Corn              
June PRD(U) 1616 1629 1629 1660 1658 1673
           
Gold              
July D 30.77 31.58 29.93 31.52 33.05 33.46
           
Silver              
July PRD(U) 352 360 367 375 375 381
           
Copper              
June PRD(U) 100.5 102.28 103.93 105.39 105.65 107.26
2          
Crude            
             
               

N.B.: if you initiate a trade using ANY of these numbers use a STOP at least equivalent to 2 ½%.

Repeat: use Stops. Don’t think about using Stops.

Use Stops. Some find it appropriate to look at the margin requirement and use that as a Stop or if it’s a steep initial requirement, use half. But whatever you do, stop thinking about any other alternative and use Stops.

Charles Kespert

***********************

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, AL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETIOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.