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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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Corn prices are beginning to trigger demand destruction

Market News

Top Day Recommendations

7.18.12

Stocks are slightly lower before round two of Fed Chairman Bernanke’s Humphrey Hawkins testimony before the House Financial Services Committee. Yesterday, he didn’t exactly sound eager to unleash more stimulus. Perhaps more of the Fed’s disposition towards stimulus and the economy in general will be clarified by the release of the Beige Book (the minutes of the last Fed FOMOC meeting) and its release at 2 pm.

In other areas, the housing market is currently underpinned by low interest rates and an oversupply of houses. Finland and Germany sell two year notes with rates at less than zero and corn prices are beginning to trigger demand destruction.


Week of July 16 - July 20

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

Jul 16

08:30

Retail Sales

Jun

 

0.4%

0.2%

-0.2%

 

Jul 16

08:30

Retail Sales ex-auto

Jun

 

0.2%

0.1%

-0.4%

 

Jul 16

08:30

Empire Manufacturing

Jul

 

0.0

3.8

2.3

 

Jul 16

10:00

Business Inventories

May

 

0.2%

0.2%

0.4%

 

Jul 17

08:30

CPI

Jun

 

0.1%

0.1%

-0.3%

 

Jul 17

08:30

Core CPI

Jun

 

0.2%

0.2%

0.2%

 

 

Jul 17

 

09:00

Net Long-Term TIC Flows

 

May

 

 

NA

 

NA

 

$25.6B

 

Jul 17

09:15

Industrial Production

Jun

 

0.0%

0.3%

-0.1%

 

Jul 17

09:15

Capacity Utilization

Jun

 

79.0%

79.2%

79.0%

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

 

Jul 17

 

10:00

NAHB Housing

Market Index

 

Jul

 

 

30

 

30

 

29

 

Jul 18

07:00

MBA Mortgage Index

07/14

 

NA

NA

-2.1%

 

Jul 18

08:30

Housing Starts

Jun

 

715K

743K

708K

 

Jul 18

08:30

Building Permits

Jun

 

765K

765K

780K

 

 

Jul 18

 

10:30

 

Crude Inventories

 

07/14

 

 

NA

 

NA

-

4.696M

 

Jul 18

14:00

Fed's Beige Book

Jun

 

 

 

 

 

Jul 19

08:30

Initial Claims

07/14

 

360K

365K

350K

 

Jul 19

08:30

Continuing Claims

07/07

 

3300K

3300K

3304K

 

Jul 19

10:00

Existing Home Sales

Jun

 

4.65M

4.65M

4.55

 

Jul 19

10:00

Philadelphia Fed

Jul

 

-13.0

-10.0

-16.6

 

Jul 19

10:00

Leading Indicators

Jun

 

-0.2%

-0.2%

0.3%

 


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 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

Sept ES

U

1306

1329

1345

1366.25

1365.5

0

1380.00

Sept Nasdaq

D

2464

2520.50

2558.50

2604.50

2629.5

0

2682.00

Sept Yen


U

124.50

125.37

126.26

126.88

126.88

127.52

Sept EC


U

120.88

121.66

122.20

123.50

123.40

124.29

Sept 10 Year


U

134.00

134.08

134.12

135.00

134.27

135.06

Sept 30 Year


U

148.29

150.01

150.06

152.04

152.03

153.01

Nov

Soybeans


U

14.74

15.13

15.59

16.06

15.83

16.14

Sept Corn


U

6.614

7.01

7.514

7.95

7.64

7.884

Aug Gold


U

1533.9

1543

1558.60

1601.80

1618.7

1664.3

 

 

 

 

 

 

 

 

Sept Silver


U

25.93

26.06

26.33

27.70

27.76

28.24

Sept Copper


D

333

341

338

350

353

358

Aug Crude


U

82.15

84.61

87.93

89.98

88.57

90.07

 

 

 

 

 

 

 

 


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.


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.

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

Futures trading entails considerable risk and is not for everyone. An account can lose more than its initial investment.

Stops are not necessarily filled at the stop level. Past performance is not a guarantee of future results.


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

Charles Kespert

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