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Enhance your trading with a series of short videos on topics such as range bars, support & resistance, parabolics, price confirmation and much more. We also take a look at a weekly chart of the soybeans futures market.

April 17th, 2015 - Issue #783

In This Issue

1. Hot Market Report - Significant Chart Clues Crude Oil Has Put in a Market Bottom
2. Day Trading 101: Tight Stops? Wide Stops? Which one should I Use?
3. Economic Calendar

1. Significant Chart Clues Crude Oil Has Put in a Market Bottom

From our friend Jim Wyckoff

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

Yen at 6-Year Low as Currency Markets are Moving May Nymex crude oil futures on Wednesday hit a four-month high. A four-week-old uptrend line is also in place on the daily chart. The crude oil bulls have gained good upside near-term technical momentum to suggest a market bottom is in place. Such would be very welcome news for the raw commodity market bulls. And if indeed the crude oil market has put in a market bottom, odds would be very high that the U.S. dollar index has put in a market top.--Jim

2. Day Trading 101: Tight Stops? Wide Stops? Which one should I Use? 

Today I decided to touch more on an educational feature rather than provide a certain market outlook.
Many of my clients and blog readers know that when it comes to short term trading I am a fan of adjusting your trading technique/ game plan according to your assessment of the type of trading day that is developing in front of you.
Many new and advanced traders spend HOURS on looking for entry signals. Back testing historical data, creating algorithms to use and much more. I know. I am one of these traders.
Entry signals are very important but just as important if not more is trade management..

Day Trading 101: Tight Stops? Wide Stops? Which one should I Use?

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Good Trading!




3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
2:00 PM CDT - Milk Production      LT: May Crude Lt(NYM)
6:00 AM CDT - MBA Mortgage Purchase Index
8:00 AM CDT - FHFA Housing Price Index(Feb)
9:00 AM CDT - Existing Home Sales(Mar)
9:30 AM CDT - API & DOE Energy Stats
2:00 PM CDT - Dairy Products Sales
2:00 PM CDT - Cold Storage
FN: May Coffee(ICE)
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
9:00 AM CDT - New Home Sales(Mar)
9:30 AM CDT - EIA Gas Storage
3:30 PM CDT - Money Supply
FN: May Crude Lt(NYM)
7:30 AM CDT - Durable Goods-Ex Transportation(Mar)
7:30 AM CDT - Durable Orders(Mar)
2:00 PM CDT - Cattle On Feed  
FN: May Cotton(ICE) LT: May 2,5,10 Year Notes Options(CBT)
May Bonds Options(CBT)
May Corn Options(CBT)
May Wheat Options(CBT)
May Oats Options(CBT)
May Rough Rice Options(CBT)
May Soybeans,Soymeal,Soyoil Options(CBT)
   LT: May Copper Options(CMX)
May Gold Options(CMX)
May Silver Options(CMX)
May Natural Gas Options(NYM)
May RBOB & ULSD Options(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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