May 17th, 2019 - Issue #965
In This Issue
1. Trading 202: Live Trading - Using overbought/oversold signals for Short term trading insights
2. Hot Market Report: Beans signaling grains bottom?
3. Economic Calendar
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1. Trading 202: Live Trading - Using overbought/oversold signals for Short term trading insights
Join us May 22nd at 9 AM PDT/ 11 AM CDT for 45 minutes of Live trading where Ilan Levy-Mayer will give you an inside peek of the diamonds ALGO and methodology he uses for short-term trading. Ilan Levy-Mayer is the VP at Cannon Trading and has been involoved in futures trading since 1988 and he developed a few ALGOS and more importantly oberved thousands of traders over the years.
In this webinar,Ilan will share his trading screen and show you the tools he uses for day-trading, entries, exits, trade management and more! Ilan will trade WTI Nymex Crude oil, E-mini NASDAQ and possibly other markets in real-time conditions and go over:
• How he likes to set up his charts• How he likes to set up his DOM with preset exits
• Preparing for the trading days
• Deciding on trade entries/exits and trade managements
• Indicators he likes to use
• Describe how he manages risk & emotionss
Ilan will be able to answer questions while analyzing the markets LIVE.
SPACE is LIMITED, so reserve your space now!
Risk: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time
2. Hot Market Report: Beans signaling grains bottom?
By Joe Easton, Senior BrokerClick on image below to enlarge
This week’s highlighted Market is soybeans. Soybeans futures are part of the GRAINS family which includes 4 types of Wheat, Corn, Soymeal, Oats, Rough Rice and Bean Oil. All traded on the CBOT/GLOBEX exchange.
On April 26th we posted Will beans sizzle this summer?
Soybean Futures has already had a volatile, "sizzling" Month and we are only half way done. In the April 26th Newsletter we drew attention to the $8.56 support level.. For the next week of May 3rd Soybeans closed at $8.41. The following Sunday May 5th soybeans had a relatively large gap of $.13 and opened at $8.28. Last week Soybean July Futures traded to $8.17 before a short rally to $8.36, finally closing the week at $8.08…$.33 down since the previous weekly close of $8.41. This week soybeans had a second gap down of $.16 opening at $7.92. and has since snap back rallied to $8.4075 closing Thursday just under the May 3rd $8.41 level. Important levels to watch are last week’s high of $8.36, dropping below this high should create more downside Second, the original level of $8.56 to potentially turn from support into resistance from below. Please contact your Broker to discuss trading gaps or support and resistance levels. Good Trading.This chart was prepared using E-Futures Int'l software, which you can demo for 28 days with realtime data.
To access a free trial to the ALGOS shown in the chart ( DIAMONDS included) along with other tools, visit and sign up for a free trial for 21 days with real-time data.
Soybean Futures Specs
Hours: 7:00 PM to 1:20 PM next day PM Central Time
Margins: $1925 initial, $1750 Maint. ( as of the date of this newsletter)
Point Value: full Cent = $50.00 ( Example: $8.60 to $8.61/bu ). Min fluctuation is 2/8ths of a cent = $12.50 ( Example: 8.60 -8.602) Settlement: Deliverable, FND is last business day preceding the contract month
Months: January (F), March (H), May (K), July (N), August (Q),September (U), November(X)
Weekly Options: YES
The bean market has good volume and enough volatility that it can be traded intraday, swing trading, using options and more.
Some of the basic fundamentals to keep in mind when you are considering trading ZS ( Soybean)
1. Longer term view of current market prices
2. Dates and times of important reports. WASDE, Planting intentions, Crop progress
3. Weather
4. Global Political situation (food often used as a weapon in trade)
4. Dollar strength or lack of, Brazilian Real value
Our brokers here at Cannon will be happy to chat about the Soybean market, other grains, other futures, options, futures spreads and much more! Feel free to contact us at any time.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 05/16 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Building Permits & Housing Starts(Apr) 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Philadelphia Fed Index(May) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
FN: May Lumber(CME)
LT: Jun Crude Lt Options(NYM) |
| 05/17 Fri |
9:00 AM CDT - Leading Indicators(Apr)
9:00 AM CDT - Univ of Mich Consumer Sent-Prelim(May) |
LT: May Nikkei Options(CME)
Jun Orange Juice Options(ICE) |
| 05/20 Mon |
|
LT: May Coffee(ICE)
|
| 05/21 Tue |
9:00 AM CDT - Existing Home Sales(Apr)
3:30 PM CDT - API Energy Stocks |
LT: Jun Crude Lt(NYM)
|
| 05/22 Wed |
6:00 AM CDT - MBA Mortgage Applications Index
9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Cold Storage 2:00 PM CDT - Dairy Products Sales |
|
| 05/23 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - New Home Sales(Apr) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
FN: Jun Crude Lt(NYM)
LT: May Feeder Cattle(CME) May Feeder Cattle Options(CME) |
| 05/24 Fri |
7:30 AM CDT - Durable Orders(Apr)
7:30 AM CDT - Durable Goods Ex-Transportation(Apr) 11:00 AM CDT - Cattle On Feed |
LT: Jun 2,5,10 Year Notes Options(CBT)
Jun Bonds Options(CBT) Jun Canola Options(CBT) Jun Wheat Options(CBT) Jun Corn Options(CBT) Jun Rough Rice Options(CBT) Jun Soybeans,Soymeal,Soyoil Options(CBT) |
| 05/27 Mon |
MEMORIAL DAY
|
|
| 05/28 Tue |
8:00 AM CDT - FHFA Housing Price Index(Mar)
8:00 AM CDT - S&P Case-Shiller Home Price Index(Mar) 9:00 AM CDT - Consumer Confidence(May) |
LT: Jun Copper Options(CMX)
Jun Gold & Silver Options(CMX) Jun Natural Gas Options(NYM) Jun RBOB & ULSD Options(NYM) |
| 05/29 Wed |
6:00 AM CDT - MBA Mortgage Index
3:30 PM CDT - API Energy Stocks |
LT: May Copper(CMX)
May Gold & Silver(CMX) May Platinum & Palladium(NYM) Jun Natural Gas(NYM) |
| FN=First Notice, OE=Option Expiration, LT=Last Trade | ||
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!
