April 11th, 2014 - Issue #732
In This Issue
1. Hot Market Chart: Corn
2. FREE trial to unique daily technical research from i10 Research
3. Economic Calendar
1. Hot Market Chart: Corn
Corn Market Bulls May Be Exhausted
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
See on the daily bar chart for May corn futures that prices Wednesday spiked to a 7.5-month high and then backed way off by the close, to close near the session low. While an uptrend line is still in place on the daily bar chart and the bulls still have the overall near-term technical advantage, Wednesday's price action did produce a potentially bearish "buying exhaustion tail"--whereby buying interest dries up at higher levels and prices back way off the daily high as the bulls become exhausted. Wednesday's price action is one early technical clue that a near-term market top is in place for corn.
2. FREE trial to unique daily technical research from i10 Research
What is i10 Daily Technical Research?
The i10 Research US Futures Daily Report provides a detailed and comprehensive technical analysis of the S&P 500 E-mini (ES), Nasdaq-100 E-mini (NQ), Russell 2000 Mini (TF), Euro FX (6E), Crude Oil (CL), Gold (GC), 30 yr. Bonds (ZB), and 10 yr. Notes (ZN). Released daily before the New York opening, this report provides reliable and actionable levels where long and short positions are favored.
Who is i10 Research?
I10 Research is a unique, independent financial research firm specializing in providing technically driven actionable market research to the world’s leading financial institutions and institutional investors. Our research is designed for easy integration into existing decision-making models and created to assist our clients in achieving superior risk-adjusted returns. We specialize in volume at price analysis and the concepts of auction market theory and market profile. Our reports objectively and consistently identify where reliable support and resistance levels are located, as well as communicate where long and short positions are favored. Whether you’re a novice looking to start trading and investing or an experienced trader looking to increase your edge, we can be a valuable tool to help you reach your goals.
Here is an example of an i10 Daily Research Report from this Friday of April 11th, 2014. Click here to download the PDF report.
To to get a Free Month Trial of the i10 Daily Research Report and a sample report, please fill out the small form below. This would be another tool for you explore and see if it would a good fit with your trading strategies.
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Cannon Trading respects your privacy and will never give this information to a 3rd party.3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 04/14 Mon |
7:30 AM CDT - Retail Sales(Mar) 7:30 AM CDT - Retail Sales-Ex Auto(Mar) 9:00 AM CDT - Business Inventories(Feb) |
|
| 04/15 Tues |
7:30 AM CDT - Core CPI & CPI(Mar) 7:30 AM CDT - Empire Manufacturing(Apr) 8:00 AM CDT - Net Long-Term TIC Flows(Feb) 9:00 AM CDT - NAHB Housing Market Index(Apr) 11:00 AM CDT - NOPA Crushs(Mar) |
LT: Apr Eurodollars(CME) Apr Lean Hogs(CME) Apr Lean Hogs Options(CME) |
| 04/16 Wed |
6:00 AM CDT - MBA Mortgage Index 7:30 AM CDT - Housing Starts & Building Permits(Mar) 8:15 AM CDT - Industrial Prod & Capacity Util(Mar) 9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - Fed's Beige Book(Apr) 3:00 PM CDT - Dairy Products Sales |
FN: May Cocoa(ICE) LT: May Crude Lt Options(NYM) May Platinum Options(NYM) May Palladium Options( |
| 04/17 Thurs |
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Philadelphia Fed(Apr) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: Apr Feeder Cattle(CME) Apr Nikkei Options(CME) Apr DJIA Options(CME) Apr S&P 500 Options(CME) Apr E-Mini S&P 500 Options(CME) Apr NASDAQ Options(CME) Apr E-Mini NASDAQ Options(CME) Apr Russell Options(CME) Apr Feeder Cattle Options(CME) May Orange Juice Options(ICE) |
| 04/18 Fri |
GOOD FRIDAY 9:00 AM CDT - Leading Indicators(Mar) ) |
|
| 04/21 Mon |
* 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!
