December 13th, 2013 - Issue #715
In This Issue
1. Rollover Notice for Stock Index Futures
2. Hot Market Review - U.S. Dollar Index Bears Gain Technical Momentum
3. Economic Calendar
1. Rollover Notice for Stock Index Futures
For 2013 I would like to wish all of you discipline and patience in your trading!
Rollover Notice for Stock Index Futures
Important Notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones, the “Big” pit-traded S&P 500, etc., it is extremely important to remember that tomorrow, Thursday, December 12th, is rollover day.
Starting December13th, the March 2014 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the March 2014 contract as of December 13th. Volume in the December 13 contracts will begin to drop off until its expiration on Friday December 20th.
The month code for March is H4.
Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.
| Please close any open December Currency positions by the close on Friday the 13th.Should you have any further question please contact your broker. |
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
2. Hot Market Review - U.S. Dollar Index Bears Gain Technical Momentum
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 U.S. dollar index is a basket of six major world currencies weighted against the greenback. See on the daily bar chart that the dollar index has resumed a price downtrend and has just hit a six-week low. The U.S. dollar bears are in technical command, which is also an underlying bullish factor for the raw commodity sector.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 12/16 Mon |
7:30 AM CST - Empire Manufacturing(Dec) 7:30 AM CST - Productivity-Rev(Q3) 7:30 AM CST - Unit Labor Costs(Q3) 8:00 AM CST - Net Long-Term TIC Flows(Oct) 8:15 AM CST - Capacity Util & Industrial Prod(Nov) 11:00 AM CST - NOPA Crush |
LT: Dec Currencies(CME) Dec Eurodollar(CME) Dec US Dollar Index(ICE) Dec Eurodollar Opitons(CME) Jan14 Crude Lt Options(NYM) Jan14 Sugar-11 Options(NYM) |
| 12/17 Tues |
7:30 AM CST - Core CPI & CPI(Nov) 7:30 AM CST - Current Account Balance(Q3) 9:00 AM CST - NAHB Housing Market Index(Dec) |
FN: Dec US Dollar Index(ICE) LT: Dec Canadian Dollar(CME) |
| 12/18 Wed |
6:00 AM CST - MBA Mortgage Index 7:30 AM CST - Housing Starts(Sep) 7:30 AM CST - Housing Starts(Oct) 7:30 AM CST - Building Permits & Housing Starts(Nov) 9:30 AM CST - API & DOE Energy Stats 1:00 PM CST - FOMC Rate Decision(Dec) 3:00 PM CST - Dariy Products Sales |
LT: Dec Coffee(ICE) Jan14 Platinum Options(NYM) Jan14 Palladium Options(NYM) |
| 12/19 Thurs |
7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Existing Home Sales(Nov) 9:00 AM CST - Philadelphia Fed(Dec) 9:00 AM CST - Leading Indicators(Nov) 9:30 AM CST - EIA Gas Storage 2:00 PM CST - Milk Production 3:30 PM CST - Money Supply |
|
| 12/20 Fri |
7:30 AM CST - GDP-Third Estimate(Q3) 7:30 AM CST - GDP Deflator-third Estimate(Q3) 2:00 PM CST - Cattle On Feed |
LT: Dec DJIA(CME) Dec E-Mini S&P 500(CME) Dec E-Mini NASDAQ(CME) Dec Russell(CME) Dec DJIA Options(CME) Dec E-Mini S&P 500 Options(CME) Dec E-Mini NASDAQ Options(CME) Jan14 Cotton Options(NYM) Jan14 Orange Juice(ICE) |
| 12/16 Mon |
7:30 AM CST - Personal Income & Spending(Nov) 7:30 AM CST - PCE Prices-Core(Nov) 8:55 AM CST - Michigan Sentiment-Final(Dec) 2:00 PM CST - Cold Storage |
FN: Jan14 Crude Lt(NYM) |
* 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!
