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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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Fed Chairman says US consumers are pessimistic on economy

Top Day Recommendations

9.09.11

Actually, the market rallied yesterday after the Fed Chairman’s speech when he suggested that US consumers may be too pessimistic about the economy. But, as universally expected, the market declined in the wake of the President’s speech about job creation. Of course, maybe the markets are just showing well warranted nervousness ahead of the 10th anniversary of 9/11. This concern was brought into sharp relief last night as the Kickoff Classic was being broadcast along with a picture in picture broadcast of the Mayor of New York and the Police Commissioner Kelly warning of a credible but uncorroborated threat to the city. On this, perhaps, the dollar is stronger across the board. EC and Swiss continue their technical weakness and even gold and bonds are lower.

 

Interesting article in the NY Times today about how the various European banks view the valuation of Greek bonds with the British being perhaps the most realistic and the French approaching a state of denial.

 

With no eco data points, expect subdued trading and traders looking to bridge the weekend with their equity intact.

 

Week of September 05 - September 09

 

Date

ET

Release

For

Actual

Briefing.com  Briefing.com

Prior

Revised

 

 

 

 

 

 

Forecast

Consensus

 

From

 

Sep

10:00

 ISM Services

Aug

 

52.0

51.0

52.7

 

 

06

 

 

 

 

 

 

 

 

 

 

 

 

Sep

07:00

MBA Mortgage Index

09/03

 

NA

NA

-9.6%

 

 

07

 

 

 

 

 

 

 

 

 

 

 

 

Sep

14:00

Fed's Beige Book

Sep

 

 

 

 

 

 

07

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sep

08:30

 Initial Claims

09/03

 

400K

400K

409K

 

 


 

 

Date

ET

Release

For

Actual

Briefing.com  Briefing.com

Prior

Revised

 

 

 

 

 

 

Forecast

Consensus

 

From

 

08

 

 

 

 

 

 

 

 

 

Sep

08:30

 Continuing Claims

08/27

 

3700K

3700K

3735K

 

 

08

 

 

 

 

 

 

 

 

 

 

 

 

Sep

08:30

 Trade Balance

Jul

 

-$51.0B

-$51.5B

-

 

 

08

 

$53.1B

 

 

 

 

 

 

 

 

 

 

Sep

11:00

Crude Inventories

09/03

 

NA

NA

5.281M

 

 

08

 

 

 

 

 

 

 

 

 

 

 

 

Sep

15:00

 Consumer Credit

Jul

 

$5.0B

$5.0B

$15.5B

 

 

08

 

 

 

 

 

 

 

 

 

 

 

 

Sep

10:00

Wholesale

Jul

 

0.7%

0.7%

0.6%

 

 

09

Inventories

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Legend

P is Positive

N is Negative

PRD is Potential Reversal Day

S2 is strong support

S1 is good support

DS is Daily Support

DR is Daily Resistance

R1 is Good Resistance

R2 is Strong Resistance

Levels are for the most active futures contract

 

Daily Support and Resistance

 

Trend                                        S2                S1                DS                DR

R1                 R2

Sept Emini

N

1127

1148

1177

1199

1209

1250

 

 

 

 

 

 

 

 

S+P

 

 

 

 

 

 

 

 

Emini Naz

P

2084

2124

2204

2238

2223

2309

 

 

 

 

 

 

 

 

Yen

P

128.77

125.94

128.43

129.53

130.98

131.65

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EC

N

139.32

140.50

137.27

140.30

143.31

146.78

 

 

 

 

 

 

 

 

Dec 10

N

127.25

129.02

129.31

130.16

131.01

131.23

 

 

 

 

 

 

 

 

Year

 

 

 

 

 

 

 

 

Dec 30

P

133.07

136.25

139.13

140.22

142.05

143.31

 

 

 

 

 

 

 

 

Year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nov

N

13.98

14.22

14.10

14.33

14.67

14.88

 

 

 

 

 

 

 

 

Soybeans

 

 

 

 

 

 

 

 

Dec Corn

P

7.17

7.38

7.26

7.46

7.80

8.003

 

 

 

 

 

 

 

 

Dec Gold

P

1741

1814

1824

1881

1923

1960

 

 

 

 

 

 

 

 

Dec Silver

N

39.22

41.26

40.74

43.07

44.41

45.53

 

 

 

 

 

 

 

 

Dec

N

399

405

405

412

420

428

 

 

 

 

 

 

 

 

Copper

 

 

 

 

 

 

 

 

Oct

P

82.43

84.54

87.39

90.05

89.33

92.01

 

 

 

 

 

 

 

 

Crude

 

 

 

 

 

 

 

 

 

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

 

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.

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

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

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

 

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.