September 30th, 2016 - Issue #847
In This Issue
1. Trading 102: Commitment of Traders Report
2. Hot Market Report: Nymex Crude Oil Rebounds on OPEC News, But Doubters Abound
3. Economic Calendar
1. Trading 102: Commitment of Traders Report - What Lies beneath
In this 24 page PDF booklet, Gary Kamen of Trends in Futures reviews the commitment of traders report, what it means, how traders can utilize it and much more.
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2. Hot Market Report - Nymex Crude Oil Rebounds on OPEC News, But Doubters Abound
From our friend Jim Wyckoff
Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at www.jimwyckoff.com click on image below to enlarge
The crude oil market rallied late this week on news of a planned cut in OPEC oil production. See on the daily bar chart for November Nymex crude that the upside price action negated a downtrend line. However, as the weekend approached, doubts were growing about the ability of the oil cartel to actually cut its collective production. Saudi Arabia and Iran--the two OPEC heavyweights--don't like each other and many think they won't be able ultimately work together on an agreement. In recent weeks the crude oil market has become an even more important "outside market" that has been impacting many other markets on a daily basis. Such will likely continue to be the case in the coming weeks. Stay tuned!
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 09/30 Fri |
7:30 AM CDT - Personal Income & Spending(Aug)
7:30 AM CDT - Core PCE Prices(Aug) 8:45 AM CDT - Chicago PMI(Sep) 9:00 AM CDT - Michigan Sentiment-Final(Sep) 11:00 AM CDT - Grain Stocks 11:00 AM CDT - Small Grains Summary 2:00 PM CDT - Quarterly Hogs & Pigs |
FN: Oct Copper(CMX)
Oct Gold & Silver(CMX) Oct Platinum & Palladium(NYM) Oct Soymeal & Soyoil(CBT) LT: Sep 2,5 Year Notes(CBT) Sep Fed Funds(CME) Oct RBOB & ULSD(NYM) Oct Sugar-11(ICE) Sep Fed Funds Options(CME) Oct Lumber Options(CME) |
| 10/03 Mon |
9:00 AM CDT - Construction Spending(Aug)
9:00 AM CDT - ISM Index(Sep) 1:00 PM CDT - Auto & Truck Sales(Sep) 2:00 PM CDT - Fats & Oils 2:00 PM CDT - Grain Crushings |
FN: Oct Sugar-11(ICE)
|
| 10/04 Tue |
3:30 PM CDT - API Energy Stocks
|
FN: Oct RBOB & ULSD(NYM)
LT: Sep Butter(CME) Sep Milk(CME) Sep Butter Options(CME) Sep Milk Options(CME) |
| 10/05 Wed |
6:00 AM CDT - MBA Mortgage Index
7:15 AM CDT - ADP Employment Change(Sep) 7:30 AM CDT - Trade Balance(Aug) 9:00 AM CDT - Factory Orders(Aug) 9:00 AM CDT - ISM Services(Sep) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
|
| 10/06 Thu |
6:30 AM CDT - Challenger Job Cuts(Sep)
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 |
|
| 10/07 Fri |
7:30 AM CDT - Ave Workweek & Hourly Earnings(Sep)
7:30 AM CDT - Nonfarm Payrolls(Sep) 7:30 AM CDT - Unemployment Rate(Sep) 9:00 AM CDT - Wholesale Inventories(Aug) |
LT: Oct Cotton(NYM)
Oct Canadian Dollar Options(CME) Oct Currencies Options(CME) Oct Live Cattle Options(CME) Oct Mx Peso Options(CME) Oct US Dollar Options(ICE) Nov Cocoa Options(ICE) |
| 10/10 Mon |
COLUMBUS DAY
|
FN: Oct Live Cattle(CME)
LT: Nov Sugar-16(ICE) |
| 10/11 Tue |
|
FN: Nov Sugar-16(ICE)
|
| 10/12 Wed |
6:00 AM CDT - MBA Mortgage Index
11:00 AM CDT - WASDE Report & Crop Production 1:00 PM CDT - FOMC Mintues 3:30 PM CDT - API Energy Stocks |
|
| 10/13 Thu |
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Export(ex-ag) & Import(ex-oil) Prices(Sep) 9:30 AM CDT - EIA Natural Gas Report 10:00 AM CDT - EIA Protroleum Status Report 1:00 PM CDT - Treasury Budget 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!
