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July 17th, 2020 Newsletter

RBOB futures or what many refer to as unleaded gasoline, completes fifty percent retracement on the weekly chart. In section 1 of the newsletter we look at a "Simpler Approach to Trading Futures"

July 17th, 2020 - Issue #1014

In This Issue

1. (Day)Trading Got You Frustrated? Take a Look at a Simpler Approach to Trading Futures
2. Hot Market Report: Unleaded Gasoline Completes 50% Weekly Retracement
3. Economic Calendar

1. Trading Video: How I like to day-trade futures using either counter trend or trend following concepts ( or what I call a simpler approach to day trading)


In this 25 minutes video you will learn the following:

1. Possible advantages of using range bar charts over time charts for day trading
2. Trade set ups using counter trend indicators
3. Trade set ups using trend following indicators
4. The concept of price confirmation
5. Tips and insights from Ilan's observations of different markets
6. You will be able to install the indicators/concepts mentioned and practice right away with your own demo!

 
 

View Video Instantly "simple approach to Day Trading"

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2. Hot Market Report: Unleaded Gasoline Completes 50% Weekly Retracement

By John Thorpe, Senior Broker

Click on image below to enlarge

RB futures;

This week’s highlighted Market is Unleaded Gasoline. RBOB - Unleaded gas is part of the energy sector along with "it's brothers" Crude Oil and heating oil and cousin, natural gas. All traded on the NYMEX/GLOBEX exchange.


U.S. gasoline demand is faltering with the coronavirus continuing to spread. keeping a lid on higher prices for the short term, This takes us to a Market that, since the steep selloff that began February 20th had recovered from the Mar 23rd low and has , for the past nearly 6 weeks been trading between two very important Fibonacci retracement levels, 50% @ 1.14 per gal and the 67% 1.29 1/2 per gal , I would look for the market to remain range bound through and until the expiration of the August contract at the end of this month.

To access a free trial to the ALGOS shown in the chart visit and sign up for a free trial for 21 days with real-time data.
Unleaded Gasoline Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $7480 initial, $6800 Maint. ( as of the date of this newsletter)
Point Value: full point = $420( Example: 1.2014 to 1.2114 ). Min fluctuation is 0.0001 = $4.2( Example: 1.2017 to 1.2018)
Settlement: Physical, deliverable commodity

Months: Monthly cycle, All Months

Weekly Options:NO
Unleaded Gasoline is one of my favorite markets for Swing Trading because of the longer-term market volatility 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 a trade in the Unleaded Gasoline as well as other energies:
1. Longer term view of current market prices
2. Dates and times of important reports. Namely, Tuesday afternoon report (API) and the DOE report on Wednesday mornings at 10:30 Am EST
3. Weather and Seasonality
4. Correlation to US Dollar prices
5. Inflationary prospects
6. Geopolitical Stability
7. U.S. Fiscal and Monetary Stability

Our brokers here at Cannon will be happy to chat about the Unleaded Gasoline market, other energies, 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
07/17
Fri
7:30 AM CDT - Building Permits & Housing Starts(Jun)
9:00 AM CDT - Univ of Mich Consumer Sentiment-Prelim
 
 
LT: Jul Nikkei Options(CME)
Aug Orange Juice Options(ICE)

 
07/20
Mon
3:00 PM CDT - Crop Progress
 
 
 

 
 
 
07/21
Tue
2:00 PM CDT - Catfish Production
2:00 PM CDT - Milk Production
3:30 PM CDT - API Energy Stocks
 
LT: Jul Coffee(ICE)
Aug Crude Lt(NYM)
Aug Canola Options(CBT)
07/22
Wed
6:00 AM CDT - MBA Mortgage Index
8:00 AM CDT - FHFA Housing Price Index(Jul)
9:00 AM CDT - Existing Home Sales(Jun)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Cold Storage
2:00 PM CDT - Dairy Products Sales

 
 
 
07/23
Thu
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
FN: Aug Crude Lt(NYM)
 
 
 
07/24
Fri
9:00 AM CDT - New Home Sales(Jun)
2:00 PM CDT - Cattle
2:00 PM CDT - Cattle On Feed
 
LT: Aug 2,5,10 Year Notes Options(CBT)
Aug Bonds Options(CBT)
Aug Wheat Options(CBT)
Aug Corn Options(CBT)
Aug Oats Options(CBT)
Aug Rough Rice Options(CBT)
Aug Soybeans,Soymeal,Soyoil Options(CBT)
07/27
Mon
7:30 AM CDT - Durable Orders(Jun)
7:30 AM CDT - Durable Goods-Ex Transportation(Jun)
3:00 PM CDT - Crop Progress
 

 
 
 
 
07/28
Tue
8:00 AM CDT - S&P Case-Shiller Home Price Index(May)
9:00 AM CDT - Consumer Confidence(Jul)
3:30 PM CDT - API Energy Stocks
 
LT: Aug Copper Options(CMX)
Aug Gold & Silver Options(CMX)
Aug RBOB & ULSD Options(NYM)

07/29
Wed
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - Pending Home Sales(Jun)
9:30 AM CDT - API Petroleum Status Report
1:00 PM CDT - FOMC Rate Decision(Jul)
2:00 PM CDT - Dairy Products Sales
LT: Jul Copper(CMX)
Jul Gold & Silver(CMX)
Jul Platinum & Palladium(NYM)
Aug Natural Gas(NYM)
07/30
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - GDP-Adv(Q2)
7:30 AM CDT - Chain Deflator-Adv(Q2)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
FN: Aug Natural Gas(NYM)
 
 
 
FN=First Notice, OE=Option Expiration, LT=Last Trade

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!

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