July 13th, 2018 - Issue #927
In This Issue
1. Day Trading Alerts via Email - FREE 3 Months Trial
2. Hot Market Report: Copper Futures confirm sell signal
3. Economic Calendar
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1. Trading 201: Day Trading Alerts and Newsletter via Email
The Edge, daily trading signals newsletter FREE 3 months trial
A veteran client and trader once remarked "Just tell me WHICH market to trade on any specific day and WHAT direction and I can trade the heck out of it...." Well, the Edge by ExitPoints.com does exactly that. The ExitPoints EDGE email will let you know the night before what markets to focus on and which direction the market is expected to move. From that point you can more confidently create your trading plan and utilize your trading prowess to capture opportunities. (*Futures Trading is Risky)
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2. Hot Market Report: Copper Futures confirm sell signal shared on this newsletter on June 22nd
By Ilan Levy-MayerClick on image below to enlarge
Copper belongs to the "metals family": Gold, Silver, Copper, Platinum, Palladium. All traded on the COMEX exchange.
Current copper fundamentals-
1. Global copper output up 7.1% in first three months of 2018! Output in Chile increased by 19%, mainly because production in 2017 was constrained by a strike at Escondida which is the world’s biggest copper mine.
2. Worries about the impact of a trade war between the US and China, responsible for almost half the world’s consumption of copper and other base metals, is behind the recent pullback.
Daily chart of Copper Futures for your review from this morning ( July 13th 2018). This chart is one of these RARE cases where the signals line up perfectly.
On June 8th we got a red diamond which suggests, "market is oversold" and has a potential to reverse. This was followed on June 15th with a "short term possible trend down" signal marked by the dark red arrow ( circled on the chart). The last signal was the slanted red arrow on June 21st which suggests "longer term" possible down trend developing.
You can see the rest of the story on the chart. Again, as you can see from the left part of the chart, not all signals are that succesful and futures trading is risky but it is sure nice to see when signals trnaslate to market action like in this case.
Copper is "usually" volatile enough and liquid enough to be suitable for both day trading and swing trading.
To access a free trial to the ALGOS shown in the chart visit and sign up for a free trial for 21 days with real-time data.
Copper Futures Specs
Hours: 05:00 PM previous day to 4:00 PM Central Time
Margins: $3080 initial, $1705 Maint. ( as of the date of this newsletter)
Point Value: full point = $250 ( Example: 3.0230 to 3.0330 ). Min fluctuation is 0.0005 = $12.5 ( Example: 3.0230 to 3.0235) Settlement: Physical Delivery
Months: Every Month
Some of the basic fundamentals to keep in mind when you are considering trading the Copper for this matter:
1. Research supply side in major copper producing countries like Chile, Peru, China and United States.
2. Follow both the industrial demand and investment demand for copper
3. Focus in macroeconomics not microeconomics
4. Correlation to gold and silver
5. Correlation to US Dollar prices
6. Inflationary prospects
7. Geopolitical Stability
8. U.S. Fiscal and Monetary Stability
Our brokers here at Cannon will be happy to chat about the copper market, other metals, other futures, options, futures spreads and much more! Feel free to contact us at any time. Good Trading,
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 07/13 Fri |
7:30 AM CDT - Export(ex-ag) & Import(ex-oil) Prices(Jun)
9:00 AM CDT - Mich Sentiment-Prelim(Jul) |
LT: Jul Canola(CBT)
Jul Wheat(CBT) Jul Corn(CBT) Jul Oats(CBT) Jul Rough Rice(CBT) Jul Soybeans,Soymeal,Soyoil(CBT) Jul Lumber(CME) Jul Eurodollar Options(CME) Jul Coffee Options(ICE) |
| 07/16 Mon |
7:30 AM CDT - Empire Manufacturing(Jul)
7:30 AM CDT - Retail Sales(Jun) 7:30 AM CDT - Retail Sales Ex-Auto(Jun) 9:00 AM CDT - Business Inventories(May) 11:00 AM CDT - NOPA Crush |
FN: Jul Lumber(CME)
LT: Jul Eurodollar(CME) Jul Lean Hogs(CME) Jul Cocoa(ICE) Jul Mx Peso(CME) Jul Lean Hogs Options(CME) Aug Sugar-11 Options(ICE) |
| 07/17 Tue |
8:15 AM CDT - Capacity Util & Industrial Prod(Jun)
9:00 AM CDT - NAHB Housing Market Index(Jul) 3:00 PM CDT - Net Long-Term TIC Flows(May) 3:30 PM CDT - API Energy Stocks |
LT: Aug Crude Lt Options(NYM)
|
| 07/18 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 2:00 PM CDT - Dairy Products Sales |
LT: Aug Platinum Options(NYM)
Aug Palladium Options(NYM) |
| 07/19 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Philadelphia Fed(Jul) 9:00 AM CDT - Leading Indicators(Jun) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
LT: Jul Coffee(ICE)
|
| 07/20 Fri |
2:00 PM CDT - Catfish Production
2:00 PM CDT - Cattle 2:00 PM CDT - Cattle On Feed 2:00 PM CDT - Milk Production |
LT: Aug Crude Lt(NYM)
Jul Nikkei Options(CME) Jul Russell Options(CME) Aug Orange Juice Options(ICE) |
| 07/23 Mon |
9:00 AM CDT - Existing Home Sales(Jun)
2:00 PM CDT - Cold Storage |
|
| 07/24 Tue |
8:00 AM CDT - FHFA Housing Price Index(May)
3:30 PM CDT - API Energy Stocks |
FN: Aug Crude Lt(NYM)
|
| 07/25 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 |
|
| 07/26 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Durable Goods Ex-Transportation(Jun) 7:30 AM CDT - Durable Orders(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) Aug Natural Gas Options(NYM) Aug RBOB & ULSD Options(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!
