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October 12, 2012 Newsletter

This week newsletter features a review of crude oil futures by Arctic Advisory along with a nice, short article on Fibonacci Golden ratio

Newsletter 10-12-2012

Oct. 12, 2012 - Issue #656

In This Issue

1. Trader's Resource Corner - Fibonacci in Nature: The Golden Ratio and the Golden Spiral
2. Hot Market Review - Crude Oil
3. Economic Calendar

1. Traders Resource Corner - Fibonacci in Nature: The Golden Ratio and the Golden Spiral

Fibonacci in Nature: The Golden Ratio and the Golden Spiral

The more you learn about Fibonacci, the more amazed you will be at its importance By Elliott Wave International If you've studied the financial markets, even for a short time, you've probably heard the term "Fibonacci numbers." The ratios and relationships derived from this mathematical sequence are applied to the markets to help determine targets and retracement levels. Did you know that Fibonacci numbers are found in nature as well? Even our human bodies are examples of Fibonacci. Read more about the fascinating phenomenon of Fibonacci in nature.Read More

2. Hot Market Review: Crude Oil

From our friends at Artac Advisory

Since 1996 the Artac Advisory has supported the professional futures trading community with independent, fee-based market research of consistent accuracy. Their market letters blend together time-tested, discretionary charting methods with a systematic analysis of common and customized technical indicators, presented to the active futures trader in a cohesive, tradable framework. Arctic Advisory trend-defining support and resistance levels are accompanied by descriptive charts and commentary, each single-sheet newsletter formatted with the intent to fully clarify your trading strategy.

Trend Timeframe Directional Targets
Today Above 92.68 = 94.04, below 91.08 = 89.89
Next 3-5 trading days Above 91.08 = 95.73, below 91.08 = 88.79
Next 2-3 weeks Above 88.79 = 98.78, below 88.79 = 79.01
Next 2-3 months Above 103.50 = 112.32, below 88.79 = 77.40

click on image below to enlarge

For Friday, 91.08 can contain session weakness (assuming an open above), above which the market remains buoyant into next week, 95.73 expected within several days. Upside Friday, 92.68 should contain initial strength, beyond which 94.04 is attainable intraday, able to contain session strength. A settlement above 94.04 signals 95.73 within 1-2 days, able to contain strength through the balance of next week, and the level to settle above for indicating upward continuation into the 97.96-98.78 region within 3-5 more days, where November Crude Oil can top out into contract expiration (October 22). Downside Friday, breaking/opening below 91.08 signals 89.89, likely contain initial selling, below which a retest of the 88.79 speed-line is expected intraday, able to contain selling into November activity. Holding above 88.79 should yield 98.78 over the next several weeks, while closing below 88.79 indicates a good October high, 83.24 then expected by the end of next week, 79.01 within several weeks, long-term support at 77.40 within 3-5 weeks, able to contain selling through the balance of the year (Re: broader complex).

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3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
10/15
Mon
7:30 AM CDT - NOPA Crush
7:30 AM CDT - Empire Manufacturing(Oct)
7:30 AM CDT - Retail Sales(Sep)
9:00 AM CDT - Business Inventories(Aug)
LT: Oct Eurodollar(CME)
Nov Sugar-16 Options(ICE)
10/16
Tues
7:30 AM CDT - Core CPI & CPI(Sep)
8:00 AM CDT - Net Long-Term TIC Flows(Aug)
8:15 AM CDT - Capacity Util & Industrial Prod(Sep)
9:00 AM CDT - NAHB Housing Market Index(Oct)
 
10/17
Wed
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Dairy Product Prices
7:30 AM CDT - Building Permits & Housing Starts
9:30 AM CDT - API & DOE Energy Stats
LT: Nov Crude Lt Options(NYM)
Nov Palladium Options(NYM)
Nov Platinum Options(NYM)
10/18
Thurs
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
9:00 AM CDT - Leading Indicators(Sep)
9:00 AM CDT - Philadelphia Fed(Oct)
 
10/19
Fri
9:00 AM CDT - Existing Home Sales(Sep)
2:00 PM CDT - Cattle On Feed
2:00 PM CDT - Milk Production
LT: Oct Nikkei Options(CME)
Oct DJIA Options(CME)
Oct S&P 500 Options(CME)
Oct E-Mini S&P 500 Options(CME)
Oct NASDAQ Options(CME)
Oct E-Mini NASDAQ Options(CME)
Oct Russell Options(CME)
Nov Cotton Options(NYM)
Nov Orange Juice Options(ICE)
10/22
Mon
2:00 PM CDT - Cold Storage LT: Nov Crude Lt(NYM)

* 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!

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