November 21st, 2014 - Issue #763
In This Issue
1. Thanksgiving Holiday Greetings and Schedule
2. Jim Wycoff Hot Report: "King Dollar" A Dominant Theme in Market Place
3. Economic Calendar
1. From all of us at Cannon Trading Company, to you and yours, we wish you a joyful holiday weekend.
May your holiday season and Thanksgiving be filled with happiness, family and community.
Thanksgiving Schedule available at:
2. Hot Market Report - "King Dollar" A Dominant Theme in Market Place
From our friend Jim Wyckoff
Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at www.jimwyckoff.com click on image below to enlarge
The themes in the market place continue to be the strong U.S. dollar against the other major currencies, weakening world economies (except the U.S.) and the specter of price deflation looming and becoming a serious worldwide economic ailment. These themes have been solidly bearish for the raw commodity sector as a major down cycle continues to play out in raw commodities. The bear markets in raw commodities and very low interest rates that make holding bonds unattractive have made the stock markets “the only game in town” for most investors. But keep this in mind: Just like the now mature down-cycle in raw commodities, the mature up-cycle in equities will reverse at some point down the road—and probably sooner that most expect. Note: For those who have experienced the wrong chart with this text, you need to hit the "refresh" button a few times on your internet browser. That should take care of that problem.
Good Trading!
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 11/24 Mon |
|
FN: Dec Crude Lt(NYM) LT: Dec Copper Options(CMX) Dec Gold Options(CMX) Dec Silver Options(CMX) Dec Natural Gas Options(NYM) Dec RBOB & ULSD Options(NYM) |
| 11/25 Tues |
7:30 AM CST - GDP-Second Estimate(Q3) 7:30 AM CST - GDP Deflator-Second Estimate(Q3) 8:00 AM CST - Case-Shiller 20-City Index(Sep) 8:00 AM CST - FHFA Housing Price Index(Sep) 9:00 AM CST - Consumer Confidence(Nov) |
LT: Nov Copper(CMX) Nov Gold(CMX) Nov Silver(CMX) Nov Platinum(NYM) Nov Palladium(NYM) Dec Natural Gas(NYM) |
| 11/26 Wed |
6:00 AM CST - MBA Mortgage Purchase Index 7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Durable Goods-Ex Transportation(Oct) 7:30 AM CST - Durable Orders(Oct) 7:30 AM CST - PCE Prices-Core(Oct) 7:30 AM CST - Personal Income & Spending(Oct) 8:45 AM CST - Chicago PMI(Nov) 8:55 AM CST - Michigan Sentiment-Final(Nov) 9:00 AM CST - New Home Sales(Oct) 9:00 AM CST - Pending Home Sales(Oct) 9:30 AM CST - API & DOE Energy Stats 11:00 AM CST - EIA Gas Storage 3:00 PM CST - Dairy Product Sales |
FN: Dec Natural Gas(NYM) |
| 11/27 Thurs |
THANKSGIVING DAY | |
| 11/28 Fri |
7:30 AM CST - USDA Weekly Export Sales | FN: Dec 2,5,10 Year Notes(CBT) Dec Bonds(CBT) Dec Copper(CMX) Dec Gold & Silver(CMX) Dec Platinum & Palladium(NYM) Dec Wheat(CBT) Dec Corn(CBT) Dec Oats(CBT) Dec Soymeal,Soyoil(CBT) LT: Nov Fed Funds(CME) Dec RBOB & ULSD(NYM) Nov Fed Funds Options(CME) Dec Lumber Options(CME) |
| 12/1 Mon |
9:00 AM CST - ISM Index(Nov) |
* 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!
