Stock index futures to pre COVID levels along with a FREE trial to real time trade alerts via text. Looks like the FEDS Juice is winning against both COVID and riots....
In This Issue
1. Day-Trading Alerts via Text Directly to Your Phone FREE TRIAL ($249 value)
2. Hot Market Report: Copper Futures Rally on Good Volume
3. Economic Calendar
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This week’s highlighted Market is mini SP 500 futures.Part of the stock index family that includes mini NASDAQ 100, mini Russell, mini Dow, Mid cap, Nikkei and a few more. Most traded on the CME/CBOT/GLOBEX exchanges.
Daily Chart of ES Futures for your review from this morning ( June 5th 2020).
ES Futures are up 70 points on the day and are set to close higher this week. The ES has closed higher 4 of the last 5 weeks and 8 of the last 11 weeks since the March 27th lows. The selloff from 3397 to 2174 was a 36% drop of 1223 points. We have now almost retraced 85% or 1000 points off the low. The market is shrugging off all the fundamentals and news stories. Proving once again to trade what you see not what you hear.
ES is probably the most popular market for day traders. LARGE volume, liquidity and good ranges as well as being the first electronic Mini Stock Index contract in the US back in 1997, make the ES "the king for day-trading". One thing to understand is that the aggressive day-trading margins most firms, including Cannon, offer for markets such as the NQ and ES can be a double edge sword. With $500 day-trading margins, you as a trader control LARGE amounts of money and that can translate to large fast losses or gains in volatile manner. I urge you to create a self imposed margin that is higher. Be aware, be careful. This chart was prepared using our FREE E-Futures Int'l software, which you can demo for 28 days with realtime data.The MICRO ES can be a great tool to use if you have a smaller account, just starting etc. The MICRO ES symbol is MES and it is exactly one tenth the size of the ES for value, tick size, margins etc.
Source: Moore Research Center, Inc.
Date | Reports | Expiration & Notice Dates |
---|---|---|
06/05 Fri |
7:30 AM CDT - Nonfarm Payrolls(May)
7:30 AM CDT - Ave Workweek & Hourly Earnings(May) 7:30 AM CDT - Unemployment Rate(May) 9:00 AM CDT - ISM Non-Manufacturing Index(May) 2:00 PM CDT - Consumer Credit(Apr) |
LT: Jun Canadian Dollar Options(CME)
Jun Currencies Options(CME) Jun Mx Peso Options(CME) Jun US Dollar Index Options(ICE) Jun Live Cattle Options(CME) Jul Cocoa Options(ICE) |
06/08 Mon |
3:00 PM CDT - Crop Progress
|
FN: Jun Live Cattle(CME)
LT: Jul Sugar-16(ICE) |
06/09 Tue |
9:00 AM CDT - Wholesale Inventories(Apr)
3:30 PM CDT - API Energy Stocks |
FN: Jul Sugar-16(ICE)
|
06/10 Wed |
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Core CPI & CPI(May) 9:30 AM CDT - EIA Petroleum Status Report 1:00 PM CDT - FOMC Rate Decision 2:00 PM CDT - Dairy Products Sales |
|
06/11 Thu |
7:30 AM CDT - USDA Weekly Exports Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Core PPI & PPI(May) 9:30 AM CDT - EIA Natural Gas Report 11:00 AM CDT - WASDE Report & Crop Production 3:30 PM CDT - Money Supply |
LT: Jun Nikkei(CME)
Jun Nikkei Options(CME) |
06/12 Fri |
7:30 AM CDT - Export(ex-ag) & Import(ex-oil) Prices(May)
9:00 AM CDT - Univ of Mich Consumer Sent-Prelim(Jun) |
LT: Jun Lean Hogs(CME)
Jun Lean Hogs Options(CME) Jul Cotton Options(NYM) Jul Coffee Options(ICE) |
06/15 Mon |
7:30 AM CDT - Empire State Manufacturing(Jun)
11:00 AM CDT - NOPA Crush 3:00 PM CDT - Net Long-Term TIC Flows(Apr) 3:00 PM CDT - Crop Progress |
LT: Jun Eurodollar(CME)
Jun Currencies(CME) Jun Mx Peso(CME) Jun US Dollar Index(ICE) Jun Eurodollar Options(CME) Jul Sugar-11 Options(ICE) |
06/16 Tue |
7:30 AM CDT - Retail Sales(May)
7:30 AM CDT - Retail Sales-Ex Auto(May) 8:15 AM CDT - Capacity Util & Industrial Prod(May) 9:00 AM CDT - Business Inventories(Apr) 9:00 AM CDT - NAHB Housing Market Index(Jun) 3:30 PM CDT - API Energy Stocks |
LT: Jun Canadian Dollar(CME)
|
06/17 Wed |
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Building Permits & Housing Starts(May) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
FN: Jul Cocoa(ICE)
LT: Jul Crude Lt Options(NYM) Jul Platinum & Palladium Options(NYM) |
06/18 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Philadelphia Fed Index(Jun) 9:30 AM CDT - EIA Natural Gas Report 2:00 PM CDT - Milk Production 3:30 PM CDT - Money Supply |
LT: Jun S&P 500(CME)
Jun S&P 500 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!