August 28th, 2020 - Issue #1020
In This Issue
1. Are you a Good Trader??
2. Hot Market Report: ES Futures Quietly Roar through Summer to New All-Time Highs
3. Economic Calendar
1. Cannon Trading is Looking for Good traders to become "Trade Leaders" on Cannon Echo System
Are you a good trader?
Cannon Trading Co., Inc.,(CTC), now celebrating 30 years in futures trading, is currently reaching out to traders with information on its Echo Trading Platform. If you’re a good trader with a worthy track record in trading, consider this:
Share your trades on the Echo Trading Platform as an Echo Leader and be compensated for your trading ability. You can set a monthly charge for access to your trades and conduct your trading as you would normally. We take care of the rest. The back-end programming of the Echo Trading Platform manages all client registration and billing details, so Echo Leaders are free to focus on what really counts – their trading!
Echo Leaders who trade successfully can attract more subscribers and charge higher monthly subscription rates. And what better place for Echo Leaders to attract clients (Echo Followers) than Cannon Trading Co.? With over 30 years in business, we are one of the oldest Introducing Brokers in the United States.
YES, I want learn more about becoming an Echo Trading Leader!
More InfoBe a Trade Leader
Cannon Trading respects your privacy and will never give this information to a 3rd party.
2. Hot Market Report: ES Futures Quietly Roar through Summer to New All-Time Highs
By Joe Easton, Senior BrokerClick on image below to enlarge
Mini SP 500 futures futures are part of the stock index family that includes mini NASDAQ, mini Russell, mini Dow, Mid cap, Nikkei and a few more. Most traded on the CME/CBOT/GLOBEX exchanges.
This week ES - S&P Futures have made new all time highs! Late last night ES futures crossed 3500 and traded to a high of 3509.50 before some selling off into the morning. This is the first ever time the S&P Futures have gone over 3500 and proves the bulls are back in control on longer term charts. Pictured is a weekly chart, visibly The ES broke out over the February highs.
Keep in mind we have elections coming up and still LOTS of uncertainty with COVID...stay tuned, be ready for the unexpected and have a trading plan.
This chart was prepared using our E-Futures Int'l our FREE in House software, which you can demo for 28 days with real time data.
With the historical volatility we are seeing, I would highly recommend looking at the MICRO contracts including the MICRO ES which is 1/10th the size of the mini SP. The symbol is MES and you can read more about the MICROS here.
Mini S&P 500 Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $13200 initial, $12000 Maint. ( as of the date of this newsletter)
Point Value: full point = $50( Example: 3480.00 to 3481.00 ). Min fluctuation is 0.25 = $12.50( Example: 3480.00 to 3480.25) Settlement: Cash on the open of the third Friday of each month
Months: Quarterly cycle, June, Sep, Dec, March. M,U,Z,H
Weekly Options:YES
Micro S&P 500 Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $1320 initial, $1200 Maint. ( as of the date of this newsletter)
Point Value: full point = $5( Example: 3480.00 to 3481.00 ). Min fluctuation is 0.25 = $1.25 ( Example: 3480.00 to 3480.25) Settlement: Cash on the open of the third Friday of each month
Months: Quarterly cycle, June, Sep, Dec, March. M,U,Z,H
Mini S&P 500 is one of my favorite markets for Day Trading because of the intraday range 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 trading the ES or other indices for this matter:
1. Longer term view of current market prices
2. Dates and times of important reports. CPI, Housing, employment, FOMC are just some of the reports you need to watch for
3. Earning reports
4. U.S. Fiscal and Monetary Stability
Our brokers here at Cannon will be happy to chat about the mini SP 500 market, other indices, 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 |
|---|---|---|
| 08/28 Fri |
7:30 AM CDT - PCE Prices & Core(Jul)
7:30 AM CDT - Personal Income & Spending(Jul) 7:30 AM CDT - Wholesale Inventories(Jul) 9:00 AM CDT - Univ of Mich Consumer Sent-Final(Aug) |
FN: Sep Natural Gas(NYM)
LT: Aug Bitcoin(CME) Aug Black Sea Wheat(CME) Aug Black Sea Wheat Options(CME) |
| 08/31 Mon |
3:00 PM CDT - Crop Progress
|
FN: Sep 2,5,10 Year Notes(CBT)
Sep Bonds(CBT) Sep Copper(CMX) Sep Gold & Silver(CMX) Sep Platinum & Palladium(NYM) Sep Wheat(CBT) Sep Corn(CBT) Sep Oats(CBT) Sep Rough Rice(CBT) Sep Soybeans,Soyoil,Soymeal(CBT) LT: Aug Fed Funds(CME) Aug Live Cattle(CME) Sep RBOB & ULSD(NYM) Aug Fed Funds Options(CME) Sep Lumber Options(CME) |
| 09/01 Tue |
9:00 AM CDT - ISM Manufacturing Index(Aug)
9:00 AM CDT - Construction Spending(Jul) 2:00 PM CDT - Cotton System 2:00 PM CDT - Grain Crushings 2:00 PM CDT - Fats & Oils 3:30 PM CDT - API Energy Stocks |
FN: Sep Orange Juice(ICE)
LT: Aug Butter(CME) Aug Milk(CME) Aug Butter Options(CME) Aug Milk Options(CME) |
| 09/02 Wed |
6:00 AM CDT - MBA Mortgage Index
7:15 AM CDT - ADP Employment Change(Aug) 8:45 AM CDT - Chicago PMI(Aug) 9:00 AM CDT - Factory Orders(Jul) 9:30 AM CDT - EIA Petroleum Status Report 1:00 PM CDT - Auto & Truck Sales(Aug) 2:00 PM CDT - Dairy Products Sales |
FN: Sep RBOB & ULSD(NYM)
|
| 09/03 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Productivity-Rev(Q2) 7:30 AM CDT - Unit Labor Costs-Rev(Q2) 7:30 AM CDT - Adv Intl Trade In Goods(Jul) 7:30 AM CDT - Adv Retail Inventories(Jul) 7:30 AM CDT - Adv Wholesale Inventories(Jul) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
|
| 09/04 Fri |
7:30 AM CDT - Ave Workweek & Hourly Earnings(Aug)
7:30 AM CDT - Nonfarm Payrolls(Aug) 7:30 AM CDT - Unemployment Rate(Aug) |
LT: Sep Canadian Dollar Options(CME)
Sep Currencies Options(CME) Sep Mx Peso Options(CME) Sep US Dollar Index Options(ICE) Sep Live Cattle Options(CME) Oct Cocoa Options(ICE) |
| 09/07 Mon |
LABOR DAY
|
|
| 09/08 Tue |
2:00 PM CDT - Consumer Credit(Jul)
3:00 PM CDT - Crop Progress |
|
| 09/09 Wed |
6:00 AM CDT - MBA Mortgage Index
3:30 PM CDT - API Energy Stocks |
|
| 09/10 Thu |
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Core PPI & PPI(Aug) 9:00 AM CDT - Wholesale Inventories(Jul) 9:30 AM CDT - EIA Natural Gas Report 10:00 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales 3:30 PM CDT - Money Supply |
LT: Sep Nikkei(CME)
Sep Nikkei Options(CME) |
| FN=First Notice, OE=Option Expiration, LT=Last Trade | ||
* 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!
