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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

Resource Pages | Friend Pages

Equity market lost its traction after bank trader has $2 billion trading loss

Market News

Top Day Market News

5.11.12

The equity market lost its traction last night after the close when a derivatives bank trader a.k.a. the London whale apparently beached himself with a $2 billion trading loss. Hedge trades can become essentially speculative when they are overweighted or over concentrated in one micro-niche of the market. This news came at a bad time for prop desks and gave more coverage to reformers running under the flag of the Volker rule. This event hasn’t essentially changed the short term trends as much as it has reinforced them.

Otherwise, the producer price index and its core rate came in about is expected and we just have the University of Michigan consumer sentiment index to swallow at 9:55.

Week of May 07 - May 11

Date
ET
Release
For
Actual
Briefing.com Briefing.com
Prior
Revised
 
 
 
 
 
Forecast
Consensus
 
From
May
15:00
Consumer Credit
Mar
 
$10.0B
$11.0B
$8.7B
 
07
 
 
 
 
 
 
 
 
 
 
May
07:00
MBA Mortgage Index
05/05
 
NA
NA
0.9%
 
09
 
 
 
 
 
 
 
 
 
 
May
10:00
Wholesale
Mar
 
0.6%
0.6%
0.9%
 
09
Inventories
 
 
 
 
 
 
 
 
 
May
10:30
Crude Inventories
05/05
 
NA
NA
2.840M
 
09
 
 
 
 
 
 
 
 
 
 
May
08:30
Initial Claims
05/05
 
365K
365K
365K
 
10
 
 
 
 
 
 
 
 
 
 
May
08:30
Continuing Claims
04/28
 
3300K
3288K
3276K
 
Date
ET
Release
For
Actual
Briefing.com Briefing.com
Prior
Revised
 
 
 
 
 
Forecast
Consensus
 
From
10
 
 
 
 
 
 
 
 
May
08:30
Trade Balance
Mar
 
-$49.5B
-$49.9B
-
 
10
 
$46.0B
 
 
 
 
 
 
 
 
May
08:30
Export Prices ex-ag.
Apr
 
NA
NA
0.5%
 
10
 
 
 
 
 
 
 
 
 
 
May
08:30
Import Prices ex-oil
Apr
 
NA
NA
0.5%
 
10
 
 
 
 
 
 
 
 
 
 
May
14:00
Treasury Budget
Apr
 
NA
NA
-
 
10
 
$40.4B
 
 
 
 
 
 
 
 
May
08:30
PPI
Apr
 
0.1%
0.0%
0.0%
 
11
 
 
 
 
 
 
 
 
 
 
May
08:30
Core PPI
Apr
 
0.2%
0.2%
0.3%
 
11
 
 
 
 
 
 
 
 
 
 
May
09:55
Mich Sentiment
May
 
75.0
76.2
76.4
 
11
 
 
 
 
 
 
 
 
 
 

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
D
1328.50
1347.00
1337.50
 
1365.50
1395.0
1428.50
 
 
 
 
 
 
 
ES
 
 
 
 
 
 
0
 
 
 
 
 
 
 
 
 
June
D
2540.50
2597.50
2584
 
2636.50
2710.0
2795.00
 
 
 
 
 
 
 
Nasda
 
 
 
 
 
 
 
 
q
 
 
 
 
 
 
 
 
June
D
123.46
124.35
124.90
 
125.55
125.87
126.50
 
 
 
 
 
 
 
Yen
 
 
 
 
 
 
 
 
June
D
129.47
130.18
128.97
 
129.81
132.23
133.57
 
 
 
 
 
 
 
EC
 
 
 
 
 
 
 
 
June
U
131.17
132.03
132.25
 
133.08
132.03
133.07
 
 
 
 
 
 
 
10
 
 
 
 
 
 
 
 
Year
 
 
 
 
 
 
 
 
June
U
141.09
142.16
143.21
 
145.16
144.11
144.31
 
 
 
 
 
 
 
30
 
 
 
 
 
 
 
 
Year
 
 
 
 
 
 
 
 
July
D
14.28
14.53
14.18
 
14.66
15.07
15.37
 
 
 
 
 
 
 
Soybea
 
 
 
 
 
 
 
 
ns
 
 
 
 
 
 
 
 
July
PRD(D)
5.88
6.04
5.68
 
6.045
6.35
6.50
Corn
 
 
 
 
 
 
 
 
June
D
1601.9
1622.5
1577
1603.4
1668.0
1692.9
 
 
 
 
 
 
Gold
 
 
 
 
 
0
 
 
 
 
 
 
 
 
July
D
28.85
29.58
28.67
29.44
31.25
32.18
 
 
 
 
 
 
Silver
 
 
 
 
 
 
 
July
D
360
366
361
372
382
392
 
 
 
 
 
 
Coppe
 
 
 
 
 
 
 
r
 
 
 
 
 
 
 
July
D
92.36
95.70
95.67
98.16
104.50
110.10
 
 
 
 
 
 
Crude
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
News