Please be aware that the front month for Stock Index futures and Currencies is now December. It is highly recommended to place all new trades in the December contract.
The symbol for December is Z, so for example mini SP 500 is ESZ3 , the December Euro Currency is 6EZ3.
Gold has experienced tremendous volatility over the last few months. A big sell off from last year highs came to a halt as the Syria situation heated up and gold made over $300 bounce. The downtrend has now resumed as traders anticipate a diplomatic resolution to the Syria situation. We expect volatility to remain high in the gold market with the immediate pressure towards the 1278 support level. Bulls can regain some upside momentum if they can push prices above 1375.
If you like a second opinion about gold or any other market, please feel free to contact our brokers.
** 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
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - Existing Home Sales(Jul)
9:30 AM CDT - API & DOE Energy Stats
1:00 PM CDT - FOMC Minutes
3:00 PM CDT - Dairy Products Sales
7:30 AM CDT - Durable Goods-Ex Transportation(Jul)
7:30 AM CDT - Durable Orders(Jul)
* 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.