Enhance your trading with a series of short videos on topics such as range bars, support & resistance, parabolics, price confirmation and much more. We also take a look at a weekly chart of the soybeans futures market.
DIAMONDS is an algorithm that was created while designing different trading systems. It is a proprietary algorithm that tries to measure exhaustion in selling or buying and possible chance of short term reversal.
The ALGO calculates recent highs/lows, consecutive highs/lows, RSI, volatility and then the formula outputs; a number that either meet certain criteria or not. RED diamonds suggest possible short term top. GREEN or BLUE diamonds suggest possible short term bottoms.
The term “suggested” is used because like any other indicator or trading strategy, the future for the next few minutes or sometimes seconds cannot be predicted.
ILM produces arrows on the charts that signal potential change in direction and momentum since ILM is based on moving average and a volatility system.
Click to enlarge screenshots
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2. Grain Market Bears in Command Heading Into U.S. Harvest
The summertime weather market that boosted the soybean futures market has long passed. Now, traders are looking into what will likely be a bountiful U.S. harvest that will begin in just a few weeks.
The grain market bears are in full technical command.
Now, most traders are wondering when the “harvest lows” will be in place.
9:00 AM CDT - Consumer Confidence(Aug)
3:30 PM CDT - API Energy Stocks
LT: Aug Butter(CME)
Aug Gold & Silver(CMX)
Aug Platinum & Palladium(NYM)
Sep Natural Gas(NYM)
Aug Butter Options(CME)
Aug Milk Options(CME)
6:00 AM CDT - MBA Mortgage Applications Index
7:15 AM CDT - ADP Employment Change(Aug)
7:30 AM CDT - GDP-Second Estimate(Q2)
7:30 AM CDT - GDP Deflator-Second Estimate(Q2)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Diary Products Sales
FN: Sep Natural Gas(NYM)
6:30 AM CDT - Challenger Job Cuts(Aug)
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - PCE Prices(Jul)
7:30 AM CDT - PCE Prices-Core(Jul)
7:30 AM CDT - Personal Income & Spending(Jul)
8:45 AM CDT - Chicago PMI(Aug)
9:00 AM CDT - Pending Home Sales(Jul)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
FN: Sep 2,5,10 Year Notes(CBT)
Sep Gold & Silver(CMX)
Sep Platinum & Palladium(NYM)
Sep Rough Rice(CBT)
LT: Aug Feeder Cattle(CME)
Aug Fed Funds(CME)
Aug Live Cattle(CME)
Sep RBOB & ULSD(NYM)
Aug Feeder Cattle Options(CME)
Aug Fed Funds Options(CME)
Sep Lumber Options(CME)
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.