Learn a simple approach to day trading and observe mini SP 500 chart with an approaching sell signal
In This Issue
1. Simple Day Trading Approach
2. Hot Market report: S&P Stock Index Bulls May Be Getting Tired
3. Economic Calendar
Free demo that includes the charts along the indicators below: (Diamonds and Arrows)
23 page PDF booklet with examples, explanations and more…
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Diamonds:
DIAMONDS is an algorithm that was created while designing different trading systems. It is a proprietary algorithm that tries to measure exhaustion in selling or buying and possible chance of short term reversal.
The ALGO calculates recent highs/lows, consecutive highs/lows, RSI, volatility and then the formula outputs; a number that either meet certain criteria or not. RED diamonds suggest possible short term top. GREEN or BLUE diamonds suggest possible short term bottoms.
The term “suggested” is used because like any other indicator or trading strategy, the future for the next few minutes or sometimes seconds cannot be predicted.
ILM: ILM produces arrows on the charts that signal potential start of a trend. ILM is based on moving average, volatility system and proprietary calculations.
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From our friend Jim Wyckoff at JimWyckoff.com
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The e-mini S&P stock index futures bulls are still in firm near-term technical command as prices earlier this week hit a contract and record high.
There are no strong, early technical clues to suggest this market has topped out. However, see at the bottom of the chart that the Moving Average Convergence Divergence (MACD) index is poised to produce a bearish line crossover signal, whereby the blue MACD line crosses below the red trigger line.
The S&P bulls may be getting tired. ("Sell in May and go away.") Price action the next few days could be extra important for the U.S. stock indexes, from a technical perspective.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 05/12 Fri |
7:30 AM CDT - Core CPI & CPI(Apr)
7:30 AM CDT - Retail Sales(Apr) 7:30 AM CDT - Retail Sales(ex-auto)(Apr) 9:00 AM CDT - Business Inventories(Mar) 9:00 AM CDT - Mich Sentiment-Prelim(May) |
LT: May Canola(CBT)
May Wheat(CBT) May Corn(CBT) May Oats(CBT) May Rough Rice(CBT) May Soybeans,Soymeal,Soyoil(CBT) May Lean Hogs(CME) May Lean Hogs Options(CME) May Eurodollar Options(CME) Jun Coffee Options(ICE) |
| 05/15 Mon |
7:30 AM CDT - Empire Manufacturing(May)
11:00 AM CDT - NOPA Crush 3:00 PM CDT - Net Long-Term TIC Flows(May) |
LT: May Eurodollar(CME)
May Cocoa(ICE) May Lumber(CME) May Mx Peso(CME) Jun Sugar-11 Options(ICE) |
| 05/16 Tue |
7:30 AM CDT - Housing Starts & Building Permits(Apr)
8:15 AM CDT - Capacity Util & Industrial Prod(Apr) 3:30 PM CDT - API Energy Stocks |
FN: May Lumber(CME)
|
| 05/17 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index
9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
LT: Jun Crude Lt Options(NYM)
Jun Platinum Options(NYM) Jun Palladium Options(NYM) |
| 05/18 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Philadelphia Fed(May) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
LT: May Coffee(ICE)
|
| 05/19 Fri |
2:00 PM CDT - Milk Production
|
LT: May Nikkei Options(CME)
May Russell Options(CME) Jun Orange Juice Options(ICE) |
| 05/22 Mon |
2:00 PM CDT - Cold Storage
|
LT: Jun Crude Lt(NYM)
|
| 05/23 Tue |
9:00 AM CDT - New Home Sales(Apr)
3:30 PM CDT - API Energy Stocks |
|
| 05/24 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index
8:00 AM CDT - FHFA Housing Price Index(Mar) 9:00 AM CDT - Existing Home Sales(Apr) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Product Sales |
FN: Jun Crude Lt(NYM)
|
| 05/25 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
LT: May Feeder Cattle(CME)
May Feeder Cattle Options(CME) Jun Copper Options(CMX) Jun Gold & Silver Options(CMX) Jun Natural Gas Options(NYM) Jun 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!
