August 26th 2016 - Issue #842

In This Issue

1. Trading 102: Weekly Options as Trading Weapon
2. Hot Market Report: U.S. Stock Index Bulls Remain in Technical Control
3. Economic Calendar

1.Trading 102: Weekly Options as Trading Weapon by John Thorpe

There are 100's of indicators available to traders to assist with decision making that can be applied to technical analysis, which is precisely the reason to utilize a sound and inexpensive weekly ES strategy to compliment a day trading strategy.

1. As a hedge, no need for stops
2. As a pure speculation. A relatively inexpensive way to speculate on market direction in a time frame that can be for minutes, hours or a few days without the need to use stops.

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Weekly Options

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2. Hot Market: U.S. Stock Index Bulls Remain in Technical Control

From our friend Jim Wyckoff at JimWyckoff.com

Click on image below to enlarge

The U.S. stock indexes have some some profit taking recently, amid the "dog days" of summer. This is not surprising and it's not unhealthy for the bull market run. The stock index bulls still have the solid overall near-term technical advantage and there are no early clues of a market top being close at hand. That means the path of least resistance for prices will remain sideways to higher until there is a significantly bearish technical development that crops up. Stay tuned!



3. Economic Calendar

Source: Moore Research Center, Inc.

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

Date	Reports	Expiration & Notice Dates
08/26 Fri	7:30 AM CDT - GDP-Second Estimate(Q2) 7:30 AM CDT - GDP Deflator-Second Estimate(Q2) 7:30 AM CDT - Int Trade in Goods(Jul) 9:00 AM CDT - Michigan Sentiment-Final(Aug)	LT: Sep 2,5,10 Year Notes Options(CBT) Sep Bonds Options(CBT) Sep Canola Options(CBT) Sep Wheat Options(CBT) Sep Corn Options(CBT) Sep Oats Options(CBT) Sep Rough Rice Options(CBT) Sep Soybeans,Soymeal,Soyoil Options(CBT) Sep Natural Gas Options(NYM) Sep RBOB & ULSD Options(NYM)
08/29 Mon	7:30 AM CDT - PCE Prices(Jul) 7:30 AM CDT - Personal Income & Spending(Jul)	LT: Aug Copper(CMX) Aug Gold(CMX) Aug Silver(CMX) Aug Platinum(NYM) Aug Palladium(NYM) Sep Natural Gas(NYM)
08/30 Tue	8:00 AM CDT - Case-Shiller 20-City Index(Jun) 9:00 AM CDT - Consumer Confidence(Aug)	FN: Sep Natural Gas(NYM) LT: Aug Butter(CME) Aug Milk(CME) Aug Butter Options(CME) Aug Milk Options(CME)
08/31 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 - Pending Home Sales(Jul) 9:30 AM CDT - API & DOE Energy Stats 2:00 PM CDT - Dairy Products Sales	FN: Sep 2,5,10 Year Notes(CBT) Sep Bonds(CBT) Sep Copper(CBT) Sep Gold & Silver(CMX) Sep Platinum & Palladium(NYM) Sep Wheat(CBT) Sep Oats(CBT) Sep Rough Rice(CBT) Sep Soybeans,Soymeal,Soyoil(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 Thu	6:30 AM CDT - Challenger Job Cuts(Aug) 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Productivity-Rev(Q2) 7:30 AM CDT - Unit Labor Costs-Rev(Q2) 9:00 AM CDT - Construction Spending(Jul) 9:00 AM CDT - ISM Index(Aug) 9:30 AM CDT - EIA Gas Storage 1:00 PM CDT - Auto & Truck Sales 2:00 PM CDT - Fats & Oils 2:00 PM CDT - Grain Crushings	FN: Sep Orange Juice(ICE)
09/02 Fri	7:30 AM CDT - Ave Workweek & Hourly Earnings(Aug) 7:30 AM CDT - Nonfarm Payrolls(Aug) 7:30 AM CDT - Trade Balance(Jul) 7:30 AM CDT - Unemployment Rate(Aug) 9:00 AM CDT - Factory Orders(Jul)	FN: Sep RBOB & ULSD(NYM) LT: Sep Live Cattle Options(CME) Oct Cocoa Options(ICE)
09/05 Mon	LABOR DAY
09/06 Tue	9:00 AM CDT - ISM Services(Aug)
09/07 Wed	6:00 AM CDT - MBA Mortgage Index 1:00 PM CDT - Fed's Beige Book(Sep)
09/08 Thu	7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Gas Storage 10:00 AM CDT - API & DOE Energy Stats 2:00 PM CDT - Consumer Credit(Jul) 2:00 PM CDT - Dairy Products Sales	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!