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
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!
