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August 31st, 2018 Newsletter

Listen to the markets via FutureSquwak directly from the CME floor. Read our crude oil review as it trades on key decision levels.

August 31st, 2018 - Issue #934

In This Issue

1. Squawk Box FREE trial Directly from the CME Floor!
2. Hot Market Report: Crude Oil Trading at Decision Levels
3. Economic Calendar

Labor Day Hoiliday this Monday. Markets will have modified trading hours and some are closed on Monday.

1. Squawk Box Service Directly from the CME Floor

by: FuturesSquawk.com

Cannon Trading is pleased to offer it's members a full week FREE trial to FutureSquawk.com

Eric V. is the founder and voice of FutureSquawk, a community that helps keep traders focused on the tick-for-tick environment in the commodities and futures markets via a real-time broadcast from the heart of the financial markets - from alongside the S&P futures pit at the Chicago Mercantile Exchange in Chicago. They bring the market to you!

Eric is a former Intelligence Analyst for the US Government, translator of 3 languages and self-educated short term trader. He has an MBA and a Masters of Finance and currently a member at the CME. He is also a father of one and a dedicated family man who loves riding bicycles for fun and sport.

The platform has less than a 1 second delay from voice being spoken here at the CME until it reaches your ears, with most users in the continental United States at half of that latency. You hear in real time the trades that are occurring in the pit and the positions of large-lot traders.

community of daytraders are open, excited and ready to share their experiences with you. A full range of experience levels in the room and everyone is happy to share their point of view on a proposed trade. Regardless if you are an experienced floor trader or someone who needs knowledge to try and achieve profitability, there is a place for you in the room.

Finally, the broadcast platform is web-based and can be accessed from your web browser without any additional software installation. The ease of access to the broadcast and ability to reach out to the broadcaster directly in order to clarify trading decisions or resolve platform issues is a key differentiator of this service.

Squwak Box Trial

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Cannon Trading respects your privacy and will never give this information to a 3rd party.

2. Hot Market Report: Crude Oil Trading at Decision Levels

By Ilan Levy-Mayer

Click on image below to enlarge

Crude Oil futures; Crude Oil futures, along with other energies, experienced some volatility the past few weeks. Tarrifs news, tensions with Iran and overall news about supply and demand helped crude oil trade in a $10 range between July 10th and August 16th!!
Currently the market is trading at what I consider a junction, decision levels right around 69.94 to 70.50.
Daily chart of crude oil for your review from this morning ( August 31st 2018). Notice that we have both previous highs around the $70 mark as well as the 61.8% Fibonacci retracement level ( from the highs of early July to the lows of middle August). You can see the ALGOS I created and Like to use, pointed a possible buy on August 23rd and 24th. This specific ALGO tries to identify resumption of a trade. I think that if Crude Oil can close today above the $70 mark, it will be a bullish weekly and daily close as well as another positive monthly close and can trigger the next leg up. To access a free trial to the diamond ALGo shown in the chart as well as other signals sign up for a free trial for 21 days with realtime data.
Crude Oil Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $2560 initial, $2200 Maint. ( as of the date of this newsletter)
Point Value: full point = $1000 ( Example: 71.80 to 72.80 ). Min fluctuation is 0.1 = $10 ( Example: 71.80 to 71.81)
Settlement: Physical, deliverable commodity

Months: Monthly cycle, All Months

Weekly Options:YES
Crude Oil is one of my favorite markets for Day Trading because of the intraday voilatility and movements. Be careful, these factors can work against you or in your favor.
Some of the basic fundamentals to keep in mind when you are considering a trade in the crude oil as well as other energies:
1. Longer term view of current market prices
2. Dates and times of important reports. Namely, Tuesday afternoon report (API) and the DOE report on Wednesday mornings at 10:30 Am EST
3. Weather and Seasonality
4. Correlation to US Dollar prices
5. Inflationary prospects
6. Geopolitical Stability
7. U.S. Fiscal and Monetary Stability

Our brokers here at Cannon will be happy to chat about the crude olil market, other energies, other futures, options, futures spreads and much more! Feel free to contact us at any time.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
08/31
Fri
8:45 AM CDT - Chicago PMI(Aug)
9:00 AM CDT - Univ of Mich Consumer Sent-Final(Aug)
 
 
FN: Sep Copper(CMX)
Sep Gold & Silver(CMX)
Sep Palladium & Platinum(NYM)
Sep Wheat(CBT)
Sep Oats(CBT)
Sep Corn(CBT)
Sep Rough Rice(CBT)
Sep Soybeans,Soymeal,Soyoil(CBT)
LT: Aug Fed Funds(CME)
Aug Live Cattle(CME)
Sep RBOB & ULSD(NYM)
Aug Fed Funds Options(CME)
Sep Lumber Options(CME)

09/03
Mon
LABOR DAY
 
 
 

 
 
 
09/04
Tue
9:00 AM CDT - Construction Spending(Jul)
9:00 AM CDT - ISM Index(Aug)
1:00 PM CDT - Auto & Truck Sales(Aug)
2:00 PM CDT - Fats & Oils
2:00 PM CDT - Cotton System
2:00 PM CDT - Grain Crushings
FN: Sep Orange Juice(ICE)
 
 
 
09/05
Wed
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Trade Balance(Jul)
3:30 PM CDT - API Energy Stocks
 
FN: Sep RBOB & ULSD(NYM)
 
 
 
09/06
Thu
7:15 AM CDT - ADP Employment Change(Aug)
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Productivity-Rev(Q2)
7:30 AM CDT - Unit Labor Costs-Rev(Q2)
9:00 AM CDT - Factory Orders(Jul)
9:00 AM CDT - ISM Services(Aug)
9:30 AM CDT - EIA Natural Gas Report
10:00 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales
3:30 PM CDT - Money Supply

 
 
 
09/07
Fri
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Ave Workweek & Hourly Earnings(Aug)
7:30 AM CDT - Nonfarm Payrolls(Aug)
7:30 AM CDT - Unemployment Rate(Aug)
LT: Sep Canadian Dollar Options(CME)
Sep Currencies Options(CME)
Sep Mx Peso Options(CME)
Sep US Dollar Index Options(ICE)
Oct Cocoa Options(ICE)
09/10
Mon
2:00 PM CDT - Consumer Credit(Jul)
 
 
 
LT: Sep Orange Juice(ICE)
 
 
 
09/11
Tue
9:00 AM CDT - Wholesale Inventories(Jul)
3:30 PM CDT - API Energy Stocks
 
 

 
 
 
09/12
Wed
7:30 AM CDT - Core PPI & PPI(Aug)
9:00 AM CDT - JOLTS-Job Openings(Jul)
9:30 AM CDT - EIA Petroleum Status Report
11:00 AM CDT - WASDE Report & Crop Production
2:00 PM CDT - Dairy Product Sales

 
 
 
09/13
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Core CPI & CPI(Aug)
9:30 AM CDT - EIA Natural Gas Report
1:00 PM CDT - Treasury Budget(Aug)
3:30 PM CDT - Money Supply
LT: Sep Cocoa(ICE)
Sep Nikkei(CME)
Sep Nikkei Options(CME)
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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