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February 12th, 2016 Newsletter

President's Day 2016 Trading Schedule and did mini SP short term bottomed?

February 12th, 2016 - Issue #817

In This Issue

1. President's Day Trading Schedule
2. Hot Market report: Mini S&P500 -temporary bottom?
3. Economic Calendar

1. President's Day Trading Schedule

Globex® Presidents Day Holiday Schedule

Our Office is Closed Monday Feb. 15th. Make sure to get the correct 24 hour desk tel number from your broker!

*Dates and times are subject to change

Presidents Day Holiday Schedule: February 12, 2016 – February 16, 2016
Trade Date Friday, February 12 Tuesday, February 16
Date Friday, February 12 Sunday, February 14 Monday, February 15 Tuesday, February 16
Close Open Halt Open
CME Group
Equity Indices Regular Regular 12:00 Regular
Interest Rates Regular Regular 12:00 Regular
FX Regular Regular 12:00 Regular
Grains and Oilseeds Regular Closed Closed Regular
Mini-Sized Grains and Oilseeds Regular Closed Closed Regular
MGEX Hard Red Spring Wheat Regular Closed Closed Regular
Dairy 13:55 Closed Closed Regular
Livestock 13:55 Closed Closed 9:05
Lumber 13:55 Closed Closed 9:00
NYMEX & COMEX Regular Regular 12:00 Regular
ICE US
Softs Regular Closed Closed Regular
US Dollar Index Regular Regular 12:00 Regular
Russell Equity Index Regular Regular 12:00 Regular
Metals (Previously NYSE LIFFE) Regular Regular 12:00 Regular
ICE Europe
Financials (previously on LIFFE) 15:15 Regular 12:00 Regular
Energies Regular Regular Regular Regular
CFE/CBOE
Vix Regular Closed 10:30 Regular


More details at: http://www.cmegroup.com/tools-information/holiday-calendar/

The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.

Ice Futures Presidents Day Holiday Schedule

Details at: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.

2. E-Mini S&P Hits Contract Low; Late-Week Price Action Critical - Short Term Bottom?

From our friend Jim Wyckoff at JimWyckoff.com

Click on image below to enlarge

gold futures;The March e-mini S&P futures on Thursday hit a fresh contract low. As of this writing at mid-morning Thursday prices have move up from the daily low. If prices on Thursday can post a high-range close and then see some follow-through buying interest on Friday, then the bulls would gain upside momentum to suggest a near-term market bottom is in place. Reason: That price action would form a bullish double-bottom reversal pattern on the daily bar chart. However, if selling pressure intensifies on Thursday and/or Friday and a new contract low is hit, such would open the door to more strong selling pressure next week. The next two trading days in the e-minis will be extra important.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
02/15
Mon
PRESIDENTS' DAY
LT: Feb Eurodollar(CME)
Feb Eurodollar Options(CME)
02/16
Tues
7:30 AM CST - Empire Manufacturing(Feb)
9:00 AM CST - NAHB Housing Market Index(Feb)
11:00 AM CST - NOPA Crush
3:00 PM CST - Net Long-Term TIC Flows(Dec)
FN: Mar Cocoa(ICE)
LT: Mar Sugar-11 Options(ICE)
02/17
Wed
6:00 AM CST - MBA Mortgage Purchase Index
7:30 AM CST - Building Permits & Housing Starts(Jan)
7:30 AM CST - Core PPI & PPI(Jan)
8:15 AM CST - Capacity Util & Industrial Prod(Jan)
1:00 PM CST - FOMC Minutes
LT: Mar Crude Lt Options(NYM)
Mar Platinum & Palladium Options(NYM)
02/18
Thurs
7:30 AM CST - Initial Claims-Weekly
7:30 AM CST - Philadelphia Fed(Feb)
9:30 AM CST - EIA Gas Storage
10:00 AM CST - API & DOE Energy Stats
2:00 PM CST - Dairy Products Sales
3:30 PM CST - Money Supply

02/19
Fri
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Core CPI & CPI(Jan)
2:00 PM CST - Cattle On Feed
2:00 PM CST - Milk Production
FN: Mar Coffee(ICE)
LT: Feb Nikkei Options(CME)
Feb E-Mini Dow Options(CME)
Feb E-Mini S&P 500 Options(CME)
Feb E-Mini NASDAQ Options(CME)
Feb Russell Options(CME)
Feb S&P 500 Options(CME)
Mar 2,5,10 Year Notes Options(CBT)
Mar Bonds Options(CBT)
Mar Canola Options(CBT)
Mar Wheat Options(CBT)
Mar Corn Options(CBT)
Mar Rough Rice Options(CBT)
Mar Oats Options(CBT)
Mar Soybeans,Soymeal,Soyoil Options(CME)
Mar Orange Juice Options(ICE)
02/22
Mon
WASHINGTON'S BIRTHDAY
LT: Mar Crude Lt(NYM)

* 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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