March 14th, 2014 - Issue #728
In This Issue
1. Rollover notice for Stock Index Futures and Currencies
2. Copper Market under attack
3. Economic Calendar
1. Rollover notice for Stock Index Futures and Currencies
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, March13th, is rollover day.
Starting March13th, the June 2014 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2014 contract as of March 13th. Volume in the March 2014 contracts will begin to drop off until its expiration on Friday March 21st.
The month code for June is M4.
Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.
Please close any open March Currency positions by the close on Friday the 14th. Should you have any further question please contact your broker. |
So June started being the LEAD or FRONT month with a statement as the market dropped pretty hard.
Here is what June mini SP daily chart looks like:
2. Copper Market under attack
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
While the raw commodity sector has fared well in the first quarter of 2014, the copper market has seen its price fall dramatically the past week. Comex copper futures prices hit a nearly four-year low Wednesday. Part of the selling pressure on copper comes from concerns about weakening Chinese economic growth. Crude oil prices have also been pressured in part by the concerns about a weakening Chinese economy. China is the world's largest copper consumer. Copper is a major industrial metal worldwide. And many veteran stock market watchers say copper's price move can be a harbinger of price action in the U.S. stock market.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 03/17 Mon |
7:30 AM CDT - Empire Manufacturing(Mar) 8:00 AM CDT - Net Long-Term TIC Flows(Jan) 8:15 AM CDT - Capacity Util & Industrial Prod(Feb) 9:00 AM CDT - NAHB Housing Market Index(Mar) 11:00 AM CDT - NOPA Crush |
FN: Mar Lumber(CME) LT: Mar Currencies(CME) Mar Eurodollar(CME) Mar US Dollar Index(ICE) Mar Eurodollar Options(CME) Apr Crude Lt Options(NYM) Apr Sugar-11 Options(ICE) |
| 03/18 Tues |
7:30 AM CDT - Building Permits & Housing Starts(Feb) 7:30 AM CDT - Core CPI & CPI(Feb) |
FN: Mar US Dollar Index(ICE) LT: Mar Canadian Dollar(CME) |
| 03/19 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 7:30 AM CDT - Current Account Balance(Q4) 9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - FOMC Rate Decision(Mar) 3:00 PM CDT - Dairy Products Sales |
LT: Mar Coffee(ICE) Apr Platinum Options(NYM) Apr Palladium Options(NYM) |
| 03/20 Thurs |
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Existing Home Sales(Feb) 9:00 AM CDT - Leading Indicators(Feb) 9:00 AM CDT - Philadelphia Fed(Mar) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: Mar 10 Year Notes(CBT) Mar Bonds(CBT) Mar NASDAQ(CME) Mar S&P 500(CME) Apr Crude Lt(NYM) Mar NASDAQ Options(CME) Mar S&P 500 Options(CME) |
| 03/21 Fri |
FN: Apr Crude Lt(NYM) |
LT: Mar DJIA(CME) Mar E-Mini S&P 500(CME) Mar E-Mini NASDAQ(CME) Mar Russell(CME) Mar DJIA Options(CME) Mar E-Mini S&P 500 Options(CME) Mar E-Mini NASDAQ Options(CME) Mar Russell Options(CME) Apr 2,5,10 Year Notes Options(CBT) Apr Bonds Options(CBT) Apr Wheat Options(CBT) Apr Rough Rice Options(CBT) Apr Oats Options(CBT) Apr Corn Options(CBT) Apr Soybeans,Soymeal,Soyoil Options(CBT) Apr Orange Juice Options(ICE) |
| 03/24 Mon |
FN: Apr 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!
