March 8th, 2019 - Issue #956
In This Issue
1. Trading Webinar: Market Mechanics - Applying Order Flow in All the Right Places
2. Hot Market Report: NASDAQ 100 backing off - pullback or start of new down move?
3. Economic Calendar
Get Real Time Updates via Twitter!
1. Trading Webinar: Market Mechanics - Applying Order Flow in All the Right Places
Thu, Mar 14, 2019 10:00 AM - 11:00 AM PDT
This webinar will provide actionable concepts you can implement right away:
• What exactly is it we are trying to do as traders?• What are we trying to take advantage of that occurs intra-day?
• What is the 'smart money' doing?
• Where should we look to enter the market?
• Is it the same every day?
In the end, we hope to have opened your eyes to new processes that can help you get the most from your methods.
SPACE is LIMITED, so reserve your space now!
2. Hot Market Report: NASDAQ 100 backing off - pullback or start of new down move?
By Ilan Levy-Mayer, VP and Senior BrokerClick on image below to enlarge
This week’s highlighted Market is mini NASDAQ 100 futures.Part of the stock index family that includes mini SP 500, mini Russell, mini Dow, Mid cap, Nikkei and a few more. Most traded on the CME/CBOT/GLOBEX exchanges.
Daily Chart of NQ Futures for your review from this morning ( March 8th 2019). The market has backed off due to a few reasons, in my opinion:
* Bulls have run out of steam....for now
* Signs of global slow down
* The Chinese stock market has cooled off after a very strong 2018
The big question is not what happened and why but what do we think will happen next and what is a "common sense" way to speculate and take advantage of this change in market perception?
My personal opinion is that we may see a decline towards the 6950 level, maybe even 6816. When and if this happens, we will need to evaluate market reaction and price behavior before we can try to look for next steps etc.
I personally like the NQ for day trading, sometimes more than the ES. While ES has more volume, the moves on the NQ are more rewarding/ punishing at the same time which fits my personality. One thing to understand is that the aggressive day-trading margins most firms, including Cannon offer for markets such as the NQ and ES can be a double edge sword. With $500 day-trading margins, you as a trader control LARGE amounts of money and that can translate to large fast losses or gains in volatile manner.
I urge you to create a self imposed margin that is higher. Be aware, be careful. This chart was prepared using CQG Q Trader software, which you can demo for 14 days with realtime data.
To access a free trial to the ALGOS shown in the chart along with other tools, visit and sign up for a free trial for 21 days with real-time data.
Mini NASDAQ 100 Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $8350 initial, $7600 Maint. ( as of the date of this newsletter)
Point Value: full point = $2000 ( Example: 7067.00 to 7167.00 ). Min fluctuation is 0.1 = $5 ( Example: 7067.00 to 7067.25)
Settlement: Cash on the open of the third Friday of each QUARTER ( June, Sep, Dec, March )
Months: Quarterly cycle, June, Sep, Dec, March. M,U,Z,H
Weekly Options:YES
Mini NASDAQ 100 is one of my favorite markets for Day Trading because of the intraday range 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 trading the NQ or other indices for this matter:
1. Longer term view of current market prices
2. Dates and times of important reports. CPI, Housing, employment, FOMC are just some of the reports you need to watch for
3. Earning reports
4. U.S. Fiscal and Monetary Stability
Our brokers here at Cannon will be happy to chat about the MINI NASDAQ market, other indices, 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 |
|---|---|---|
| 03/08 Fri |
7:30 AM CST - Ave Workweek & Hourly Earnings(Feb)
7:30 AM CST - Nonfarm Payrolls(Feb) 7:30 AM CST - Unemployment Rate(Feb) 11:00 AM CST - WADSE Report & Crop Production |
LT: Mar Canadian Dollar Options(CME)
Mar Currencies Options(CME) Mar MX Peso Options(CME) Mar US Dollar Index Options(ICE) Apr Coffee Options(ICE) |
| 03/11 Mon |
9:00 AM CDT - Business Inventories(Dec)
|
LT: Mar Orange Juice(ICE)
|
| 03/12 Tue |
5:00 AM CDT - NFIB Small Business Optimism Index(Feb)
7:30 AM CDT - Core CPI & CPI(Feb) 3:30 PM CDT - API Energy Stocks |
|
| 03/13 Wed |
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Core PPI & PPI(Feb) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
|
| 03/14 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Export(ex-ag) & Import(ex-oil) Prices(Feb) 9:30 AM CDT - EIA Natural Gas Inventories 3:30 PM CDT - Money Supply |
LT: Mar Canola(CBT)
Mar Wheat(CBT) Mar Corn(CBT) Mar Oats(CBT) Mar Rough Rice(CBT) Mar Soybeans,Soymeal,Soyoil(CBT) Mar Cocoa(ICE) Mar S&P 500(CME) Mar S&P 500 Options(CME) |
| 03/15 Fri |
7:30 AM CDT - Empire State Manufacturing(Mar)
8:15 AM CDT - Capacity Util & Industrial Prod(Feb) 9:00 AM CDT - Univ of Mich Sentiment-Prelim(Mar) 9:00 AM CDT - JOLTS-Job Openings(Jan) 11:00 AM CDT - NOPA Crush 3:00 PM CDT - Net Long-Term TIC Flows(Jan) |
LT: Mar E-Mini Dow(CME)
Mar E-Mini S&P 500(CME) Mar E-Mini NASDAQ(CME) Mar Russell(CME) Mar Lumber(CME) Mar E-Mini Dow Options(CME) Mar E-Mini S&P 500 Options(CME) Mar E-Mini NASDAQ Options(CME) Mar Russell Options(CME) Apr Crude Lt Options(NYM) Apr Orange Juice Options(ICE) Apr Sugar-11 Options(ICE) |
| 03/18 Mon |
|
FN: Mar Lumber(CME)
LT: Mar Currencies(CME) Mar Eurodollar(CME) Mar Mx Peso(CME) Mar US Dollar Index(ICE) LT: Mar Eurodollar Options(CME) |
| 03/19 Tue |
7:30 AM CDT - Building Permits & Housing Starts(Feb)
3:30 PM CDT - API Energy Stocks |
LT: Mar Canadian Dollar(CME)
Mar Coffee(ICE) |
| 03/20 Wed |
6:00 AM CDT - MBA Mortgage Index
9:30 AM CDT - EIA Petroleum Status Report 1:00 PM CDT - FOMC Rate Decision 2:00 PM CDT - Diary Product Sales |
LT: Mar 10 Year Notes(CBT)
Mar Bonds(CBT) Apr Crude Lt(NYM) Apr Platinum Options(NYM) Apr Palladium Options(NYM) |
| 03/21 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Current Account Balance(Q4) 7:30 AM CDT - Philadelphia Fed Index(Mar) 9:00 AM CDT - Leading Indicators(Feb) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
|
| 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!
