Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at www.jimwyckoff.com click on image below to enlarge
It's been a volatile trading affair in December corn futures this week, in the wake of the initially bullish USDA report on Monday. This week's price action in corn does suggest to me that a market bottom is in place or close at hand. However, a market bottom does not suggest a price uptrend is immediately pending. I would not be surprised to see corn futures prices chop in a sideways trading pattern for the next few weeks.
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - Existing Home Sales(Jul)
9:30 AM CDT - API & DOE Energy Stats
1:00 PM CDT - FOMC Minutes
3:00 PM CDT - Dairy Products Sales
7:30 AM CDT - Durable Goods-Ex Transportation(Jul)
7:30 AM CDT - Durable Orders(Jul)
* 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!
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.