Jan. 11, 2013 - Issue #668
In This Issue
1. Trader's Resource Corner: Daily Trading Levels & Reports
2. Hot Market - March Dollar Index
3. Economic Calendar
1. Traders Resource Corner
Daily trading Levels & Reports
Did you know that Cannon Trading has a daily blog where each day Ilan Levy-Mayer, VP of Cannon publishes support and resistance levels for 12 different futures markets for the next day as well as economic reports due and his outlook/ tips about the markets and trading in general. We receive excellent feedback on this daily service and recommend you visit the blog and if you like sign up to get these reprots via email every day.
Visit our daily blog for updated trading levels and more!
2. Hot Market Review - March Dollar Index Futures
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
Important for many markets late this week, the Euro currency rallied sharply and the U.S. dollar index got hammered lower following the European Central Bank meeting in which the ECB left interest rates unchanged. ECB chief Draghi in his press conference gave upbeat comments about the outlook for the European Union in the coming months. The moves by the Euro and the dollar index Thursday are likely near-term "game-changers" for the currency markets. Now, in the coming weeks it's more likely that the Euro currency will drift sideways to higher, while the dollar index will trade sideways, or sideways to lower. Such a scenario is bullish for the raw commodity sector and European stock markets, and also arguably bullish for the U.S. stock market.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 01/14 Mon |
7:30 AM CST - NOPA Crush | LT: Jan Eurodollar(CME)
Jan Rough Rice(CBT) Jan Soybeans(CBT) Jan Soynmeal(CBT) Jan Soyoil(CBT) |
| 01/15 Tues |
7:30 AM CST - Core PPI & PPI(Dec)
7:30 AM CST - Empire Manufacturing(Jan) 7:30 AM CST - Retail Sales(Dec) 9:00 AM CST - Business Inventories(Nov) |
LT: Jan Lumber(CME)
Feb Sugar-11 Options(NYM) |
| 01/16 Wed |
6:00 AM CST - MBA Mortgage Purchase Index
7:30 AM CST - Core CPI & CPI(Dec) 8:00 AM CST - Net Long-Term TIC Flows(Nov) 8:15 AM CST - Capacity Util & Industrial Prod(Dec) 9:00 AM CST - NAHB Housing Market Index(Jan) 9:30 AM CST - API & DOE Energy Stats 1:00 PM CST - Fed's Beige Book(Jan) 3:00 PM CST - Dairy Products Sales |
FN: Jan Lumber(CME)
LT: Feb Crude Lt Options(NYM) Feb Platinum Options(NYM) Feb Palladium Options(NYM) |
| 01/17 Thurs |
7:30 AM CST - USDA Weekly Export Sales
:30 AM CST - Building Permits & Housing Starts(Dec) 7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Philadelphia Fed(Jan) 9:30 AM CST - EIA Gas Storge 3:30 PM CST - Money Supply |
|
| 01/18 Fri |
8:55 AM CST - Mich Sentiment(Jan) | LT: Jan DJIA Options(CME)
Jan S&P 500 Options(CME) Jan E-Mini S&P 500 Options(CME) Jan NASDAQ Options(CME) Jan E-Mini NASDAQ Options(CME) Jan Russell Options(ICE) Feb Orange Juice Options(ICE) |
| 01/21 Mon |
MARTIN LUTHER KING JR DAY |
* 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!
