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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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Today we do get the all-important durable goods number.

Market News

05.24.03

Top Day Market News

The two main engines of world economic activity both sputtered yesterday. Chinese manufacturing “declined” to 7.7% while at the same time the Federal Reserve gave indications that it was tapering its asset purchase program sooner rather than later. The Nikkei declined by 7% while US stocks open lower then floated back to the surface as the day progressed. Nevertheless, markets hate uncertainty and as we are situated directly in front of the three-day holiday more profit-taking should be expected. A reasonable downside objective in the S&P is suggesting 1596.50 over time.

The EC managed to trade higher overnight as German confidence as measured by the IFO registered positive for the first time in several months.

Today we do get the all-important durable goods number then it is book squaring and a cloud of dust as traders leave. If only the weather would cooperate. Enjoy the weekend and keep the powder dry.


Week of May 20 - May 24

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com Forecast

Briefing.com Consensus

 

Prior

Revised From

 

May 22

 

07:00

 

MBA Mortgage Index

05/18

 

NA

NA

-7.3%

 

 

May 22

 

10:00

 

Existing Home Sales

 

Apr

 

 

5.05M

 

4.98M

 

4.92M

 

 

May 22

 

10:00

 

Bernanke Testimony

 

 

 

 

 

 

 

May 22

 

10:30

 

Crude Inventories

 

05/18

 

 

NA

 

NA

- 0.624M

 

 

May 22

 

14:00

 

FOMC Minutes

 

5/1

 

 

 

 

 

 

May 23

 

08:30

 

Initial Claims

 

05/18

 

 

350K

 

348K

 

360K

 

 

May 23

 

08:30

 

Continuing Claims

 

05/11

 

 

3015K

 

3005K

 

3009K

 

 

May 23

 

09:00

 

FHFA Housing Price Index

 

Mar

 

 

NA

 

NA

 

0.7%

 

 

May 23

 

10:00

 

New Home Sales

 

Apr

 

 

425K

 

425K

 

417K

 

 

May 23

 

10:30

 

Natural Gas Inventories

 

05/18

 

 

NA

 

NA

 

NA

 

 

May 24

 

08:30

 

Durable Orders

 

Apr

 

 

-1.5%

 

1.6%

 

-6.9%

 

-5.8%

 

May 24

 

08:30

 

Durable Goods –ex transportation

 

Apr

 

 

-0.5%

 

0.5%

 

-2.9%

 

-1.5%

 

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 (Change of Trend) S2 is Weekly strong support

S1 is Weekly good support

DS is Daily Support DR is Daily Resistance

R1 is Weekly Good Resistance and is calculated once a week on Sunday night

R2 is Weekly Strong Resistance and is calculated once a week on Sunday night

Levels are for the most active futures contract


Daily Support and Resistance

 

Trend

WS2

WS1

DS

DR

WR1

WR2

Jun ES


PRD( D)

1606

1635

1635.50

1661.75

1679

1694

Jun Nasdaq


PRD( D)

2937

2981

2966

30.13

3049

3072

Jun JY


D

94.52

96.22

96.75

99.38

98.19

99.46

Jun EC


D

126.53

127.42

128.51

129.87

129.76

130.21

Jun 10 Year


D

130.29

131.12

130.27

131.22

132.13

132.31

Jun 30 Year


D

142.09

143.04

142.05

143.31

145.06

146.13

July Soybeans


U

13.74

14.11

14.75

15.35

1467

14.86

July Corn

PRD(

U)

6.20

6.36

6.51

6.70

6.77

6.85

June Gold


D

1292

1325

1365

1407

1419

1481

July Silver


PRD( U)

20.92

21.56

22.07

22.79

23.34

24.48

July Copper


U

314

323

325

336

338

346

July Crude


U

90.54

93.28

92.82

95.07

97.60

99.18

 

 

 

 

 

 

 

 

 

 News