Cannon Trading is happy to share with you a few videos focusing on trading techniques, ideas and tools you can add to your trading arsenal. In this week's newsletter we are sharing the following 3 videos, about 5 minutes each, ready for immediate viewing on the following topics:
1. Identifying Support And Resistance Using A Line Chart.
2. Finding Levels of Support Resistance
3. Day Trading crude oil futures using fear and greed....
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2. Double Top on Mini Russell?
By Cannon Trading Staff
Click on image below to enlarge
Looks like a double top was put in yesterday on the Russell. After a 2-week rally think the bulls are moving to the sideline for the weekend with new nuclear threats out of North Korea, and over bought conditions. We need to see a break below 1435.00 to confirm selling pressure, otheriwse sell signal is NOT valid.
Think we have seen this movie before, if nothing happens over the weekend would expect the buying resumes next week. Buying dips is still the way to go until it proves wrong.
A couple of side notes:
The mini Russell is now trading side by side over at the ICE exchange with the symbol TFE and at the CME with the symbol RTY. Looking at the quote board today, the volume over at the CME is higher than the one over at the ICE...The nice thing about trading the CME product is that exchange data are between $1 and $6 per month, while over at the ICE monthly exchange data fees are $110....
Another note regarding the chart you see here, if you like to get a free trial to the same custom indicators and ALGOS appearing on the chart, like the red diamond you see visit free Trial Page
FN: Oct Crude Lt(NYM)
LT: Oct 2,5,10 Year Notes Options(CBT)
Oct Bonds Options(CBT)
Oct Canola Options(CBT)
Oct Corn Options(CBT)
Oct Wheat Options(CBT)
Oct Oats Options(CBT)
Oct Rough Rice Options(CBT)
Oct Soybeans,Soymeal,Soyoil Options(CBT)
FN: Oct Cotton(NYM)
8:00 AM CDT - S&P Case Shiller Home Price Index(Jul)
9:00 AM CDT - Consumer Confidence(Sep)
9:00 AM CDT - New Home Sales(Aug)
3:30 PM CDT - API Energy Stocks
LT: Oct Copper Options(CMX)
Oct Gold Options(CMX)
Oct Silver Options(CMX)
Oct Natural Gas Options(NYM)
Oct RBOB & ULSD Options(NYM)
6:00 AM CDT - MBA Mortgage Applications Index
7:30 AM CDT - Durable Goods-Ex Transportation(Aug)
7:30 AM CDT - Durable Orders(Aug)
9:00 AM CDT - Pending Home Sales(Aug)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Diary Products Sales
7:30 AM CDT - PCE Prices(Aug)
7:30 AM CDT - PCE Prices-Core(Aug)
7:30 AM CDT - Personal Income & Spending(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
FN: Oct Copper(CMX)
Oct Gold & Sivler(CMX)
Oct Platinum & Palladium(NYM)
Oct Soymeal & Soyoil(CBT)
LT: Sep 2,5 Year Notes(CBT)
Sep Fed Funds(CME)
Oct RBOB & ULSD(NYM)
Sep Fed Funds Options(CME)
Oct Lumber Options(CME)
9:00 AM CDT - Construction Spending(Aug)
9:00 AM CDT - ISM Index(Sep)
2:00 PM CDT - Cotton System
2:00 PM CDT - Fats & Oils
2:00 PM CDT - Grain Crushings
FN: Oct Sugar-11(ICE)
1:00 PM CDT - Auto & Truck Sales(Sep)
3:30 PM CDT - API Energy Stocks
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!
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.