Free $25 Commodity Investor Kit

Includes : Charts, Market Information, Informative News Articles, Market Alerts, Exchange Brochures, Research, Managed Futures Information, and much more!!

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

Better than expected Italian bond auction

Top Day Recommendations

11.29.11

A better than expected Italian bond auction is a dollar negative this morning. Even though the yield on Italian three-year bonds as the highest since 1997, the bid to cover ratio was good and the spread between Italian and German debt has narrowed for the moment.

The British seem to be having trouble with Iran this morning. Their embassy is currently under siege. Mortgage applications higher than expected in the UK overnight and this has boosted the currency into resistance.

US consumer confidence out at 10 AM.

Chinese Purchasing Managers Index out during the Wednesday overnight will be a key to the fate of this week. Preliminary Chinese PMI was horrible. Meanwhile, we get the European Purchasing Managers’ Index during the Thursday overnight. European finance ministers are ready to sit down to yet another summit meeting.

$17 billion came out of equities last week which means was still stuck in a trading range despite the early December equity allocations seen yesterday.

Week of November 28 - December 02

Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
Nov 10:00 New Home Sales Oct   310K 312K 313K  
28    
               
Nov 09:00 Case-Shiller 20-city Sep   -3.0% -3.0% -3.80%  
29 Index    
             
Nov 10:00 Consumer Confidence Nov   44.0 43.0 39.80  
29    
               
Nov 10:00 FHFA Housing Price Sep   NA NA -0.1%  
29 Index    
             
Nov 07:00 MBA Mortgage Index 11/26   NA NA -1.2%  
30    
               
Nov 07:30 Challenger Job Cuts Nov   NA NA 12.6%  
30    
               
Nov 08:15 ADP Employment Nov   110K 120K 110K  
30 Change    
             
Nov 08:30 Productivity-Rev. Q3   2.6% 2.6% 3.1%  
30    
               
Nov 08:30 Unit Labor Costs Q3   -1.9% -2.1% -2.4%  
30    
               
Nov 09:45 Chicago PMI Nov   56.0 57.5 58.4  
30    
               
Nov 10:00 Pending Home Sales Sep   -2.0% 0.1% -4.60%  
30    
               
Nov 10:30 Crude Inventories 11/26   NA NA -  
30   6.219M  
             
Nov 14:00 Fed's Beige Book Nov          
30          
               
Dec 08:30 Initial Claims 11/26   395K 390K 393K  
01    
               
Dec 08:30 Continuing Claims 11/19   3650K 3650K 3691K  
01    
               
Dec 10:00 ISM Index Nov   50.5 51.0 50.8  
01    
               
Dec 10:00 Construction Oct   0.2% 0.2% 0.2%  
01 Spending    
             
Dec 15:00 Auto Sales Dec   NA NA 4.27M  
01    
               
Dec 15:00 Truck Sales Dec   NA NA 5.84M  
01    
               
Dec 08:30 Nonfarm Payrolls Nov   75K 118K 80K  
02    
               
Dec 08:30 Nonfarm Private Nov   110K 133K 104K  
02 Payrolls    
             
Dec 08:30 Unemployment Rate Nov   9.0% 9.0% 9.0%  
Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
02                
Dec 08:30 Hourly Earnings Nov   0.2% 0.2% 0.2%  
02    
               
Dec 08:30 Average Workweek Nov   34.3 34.3 34.3  
02    
               

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
Dec ES D 1108.50 1131.00 1174.75 1212.50 1192.50 1231.50
           
Dec D 2067.50 2107.50 2190 2258 2215.75 2284.00
           
Nasdaq              
Dec D 127.45 128.09 127.76 128.99 129.85 130.97
           
Yen              
Dec EC D 129.83 131.10 132.50 134.50 134.68 136.97
           
Dec 10 U 129.25 130.07 130.025 131.02 131.06 131.23
           
Year              
               
Dec 30 U 141.13 142.20 142.16 144.26 145.08 146.21
           
Year              
Jan D 10.56 10.81 11.074 11.274 11.52 11.99
           
Soybea              
ns              
Dec D 5.625 5.73 5.86 5.96 6.04 6.21
           
Corn              
Dec U 1633.1 1659.4 1689 1727 1719.7 1753.7
           
Gold              
Dec U 29.17 30.09 31.51 32.54 32.48 33.95
           
Silver              
Dec U 311 319 330 340 337 348
           
Copper              
Jan D 93.11 94.94 96.64. 100.25 98.65 100.53
           
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.

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

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.