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July 12th, 2019 Newsletter

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.

July 12th, 2019 - Issue #973

In This Issue

1. Trading 201: Enhance Your Trading With a Series of Short Videos
2. Hot Market Report: Soybeans Futures - Meeting Resistance
3. Economic Calendar

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1. Trading 201: Enhance Your Trading With a Series of Short Videos

Watch the latest trading videos we’ve created and shared with our clients!

In this week's newsletter we are sharing some videos on trading, each a few minutes long. The videos discuss practical tips for trading and sharing our experience with you. Whether you’re an experienced trader or a newcomer, we believe you can enhance and add something new to your trading after watching these videos. Enjoy!

1. Using Bollinger Bands as a possible tool for exiting trades
2. One way you can use the Parabolics study ( also known as PSAR) to manage your trades, possibly by integrating a trailing stop
3. Different ways traders can utilize support and resistance levels in their trading.
4. Entering trades on a stop, using "price confirmation".
5. Utilizing Range Bar charts for shorter term trading as a way to try and filter out some noise.
6. How to identify support and resistance levels
7. Using fear and greed to day trade crude oil futures.
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2. Hot Market Report: Soybeans Futures - Meeting Resistance

By Joe Easton, Senior Broker

Click on image below to enlarge

ZS futures;

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.

Weekly chart from this morning, (July 12th 2019).

Since our last segment, part 3 of 4 Beans signaling grains bottom?


Soybeans has indeed made a bottom and has rallied back to the high end of the previous trading range $8.91- $9.31. The low was $7.91 and we weekly closed at $8.2075. This New Low weekly close was below the previous low weekly close of $8.3025. The high weekly close of this range is $9.2350, which just so happens to be where we are now. We have traded up to $9.27 at press time and are closely watching to see if we can close over $9.2350 to try the high 930s and 940s. A close over $9.50 would be over the range and could create a short squeeze toward $10. Conversely, closing below this resistance level should create profit taking and additional selling to under $9. If we hold under this level $9.2350, we could retry the recent lows $7.91.
Stay tuned for a Report Card blog on this Trade!

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!

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
07/12
Fri
7:30 AM CDT - Core PPI & PPI(Jun)
 
 
 
LT: Jul Canola(CBT)
Jul Wheat(CBT)
Jul Corn(CBT)
Jul Oats(CBT)
Jul Rough Rice(CBT)
Jul Soybeans,Soymeal,Soyoil(CBT)
Jul Eurodollar Options(CME)
Aug Coffee Options(ICE)

07/15
Mon
7:30 AM CDT - Empire State Manufacturing(Jul)
11:00 AM CDT - NOPA Crush
3:00 PM CDT - Crop Progress
 
LT: Jul Eurodollar(CME)
Jul Lean Hogs(CME)
Jul Lumber(CME)
Jul Mx Peso(CME)
Jul Lean Hogs Options(CME)
Aug Sugar-11 Options(ICE)
07/16
Tue
7:30 AM CDT - Export(ex-ag) & Import(ex-oil) Prices(Jun)
7:30 AM CDT - Retail Sales(Jun)
7:30 AM CDT - Retail Sales Ex-Auto(Jun)
8:15 AM CDT - Capacity Util & Industrial Prod(Jun)
9:00 AM CDT - Business Inventories(May)
3:00 PM CDT - Net Long-Term TIC Flows(May)
3:30 PM CDT - API Energy Stocks
FN: Jul Lumber(CME)
LT: Jul Cocoa(ICE)
 
 
07/17
Wed
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Building Permits & Housing Starts(Jun)
9:30 AM CDT - EIA Petroleum Status Report
1:00 PM CDT - Fed's Beige Book(Jul)
2:00 PM CDT - Dairy Products Sales
LT: Aug Crude Lt Options(NYM)
Aug Platinum Options(NYM)
Aug Palladium Options(NYM)
07/18
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weeky
7:30 AM CDT - Philadelphia Fed Index(Jul)
9:00 AM CDT - Leading Indicators(Jun)
9:30 AM CDT - EIA Natural Gas Indicators
3:30 PM CDT - Money Supply

 
 
 
07/19
Fri
9:00 AM CDT - Univ of Mich Consumer Sent-Prelim(Jul)
2:00 PM CDT - Cattle
2:00 PM CDT - Cattle On Feed
 
LT: Jul Coffee(ICE)
Jul Nikkei Options(CME)
Aug Orange Juice Options(ICE)
07/22
Mon
2:00 PM CDT - Cold Storage
3:00 PM CDT - Crop Progress
 
 
LT: Aug Crude Lt(NYM)
 
 
 
07/23
Tue
8:00 AM CDT - FHFA Housing Price Index(May)
9:00 AM CDT - Existing Home Sales(Jun)
3:30 PM CDT - API Energy Stocks
 

 
 
 
07/24
Wed
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - New Home Sales(Jun)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales
FN: Aug Crude Lt(NYM)
 
 
 
07/25
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Adv Intl Trade In Goods(Jun)
7:30 AM CDT - Adv Retail Inventories(Jun)
7:30 AM CDT - Adv Wholesale Inventories(Jun)
7:30 AM CDT - Durable Orders(Jun)
7:30 AM CDT - Durable Goods Ex-Transportation(Jun)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
LT: Aug Copper Options(CMX)
Aug Gold Options(CMX)
Aug Silver Options(CMX)
FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

* 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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