This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.
Find out more about working with Cannon Trading Company’s commodities brokers here.
Building a strong and effective working relationship with your commodities broker is essential to trading in the commodities market. By working collaboratively with your broker, you can better understand the complexities of the market, receive valuable advice and guidance, and ultimately make informed trading decisions. In this article, we’ll explore some of the best practices for building a strong working relationship with your commodities broker.
A key part of successful commodities trading is managing risk effectively. Work with your broker to develop a comprehensive risk management strategy that takes into account factors such as diversification, stop-loss orders, and hedging strategies.
Commodities trading can be expensive, with fees and commissions adding up quickly. Make sure to keep an eye on costs and work with your broker to find ways to minimize expenses while still achieving your investment goals.
Building trust with your commodities broker is essential to achieving success in the market. Make sure to follow through on your commitments, be transparent about your investments, and communicate openly with your broker. By building a strong foundation of trust, you can work collaboratively with your broker to achieve your investment goals.
Commodities trading is not a get-rich-quick scheme. It’s important to maintain a long-term perspective and recognize that success in the market is often the result of careful planning, hard work, and patience. Work with your broker to develop a long-term investment strategy that aligns with your goals and risk tolerance.
Regularly evaluating your performance in the commodities market is essential to achieving long-term success. Work with your broker to set realistic benchmarks for your investments, and regularly evaluate your performance against these benchmarks. Use this information to make adjustments to your investment strategy and to identify new opportunities in the market.
In conclusion, building a strong working relationship with your commodities broker requires open communication, honesty, and transparency. Take advantage of educational resources, stay informed about market trends and events, set realistic expectations, and develop a comprehensive risk management strategy. Build trust with your broker, maintain a long-term perspective, and regularly evaluate your performance to achieve success in the commodities market.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
Find out more about futures brokers at Cannon Trading Company here.
When shopping for a futures broker, it’s important to ask the right questions to ensure that you choose a broker that meets your trading needs. Here are 10 important questions to ask when shopping for a futures broker.
Asking the right questions when shopping for a futures broker is essential for finding a futures broker that will suit your needs and help you trade responsibly and professionally.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
Join our private Facebook group for additional insight into trading and the futures markets!
Have a safe Memorial Day Weekend. Trading Schedule HERE
Then here is your golden opportunity. CME Group will be launching the Go for Gold Precious Metals Trading Challenge coming this June.
You’ll have the opportunity to practice trading highly liquid Precious Metals products while competing against other traders for the chance to win the grand prize of a 1 oz. bar of gold*.
During the challenge, you’ll explore our suite of precious metals contracts and test-drive strategies in a simulated environment. We’ll send you exclusive, daily education materials on precious metals contracts in order for you to feel prepared to trade and confidently compete against your peers.
*Participants will only be eligible to receive a 1 oz. gold bar if permitted in accordance with the applicable laws of their jurisdiction.
START DATE: June 4, 2023
END DATE: June 9, 2023
Trading Resource of the Week –
A Cannon broker will be able to assist, provide feedback and answer any questions.
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Weekly Levels
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.
Recently, we have listened to quite a bit of noise regarding the debt ceiling and the possible effect on the economy and the stock market. It is my personal opinion that a resolution will be reached and at that point we may see stocks going higher. Although it’s hard to tell and no one can predict the future, from technical perspective I’m looking at the NQ chart (E-mini Nasdaq 100) and the ES chart (E-mini S&P 500) and I feel that the NASDAQ 100 is stronger than the S&P 500. Hence I would look for a possible spread between the two indexes.
In terms of a possible futures spread, I think a good ratio may be 2:3 – either with two LONG E-mini Nasdaq vs. three SHORT E-mini S&P 500, or two LONG Micro E-mini Nasdaq vs. two SHORT Micro E-mini S&P 500. This is based on recent price levels, volatility and trend.
Below you will see a daily chart of both markets and levels to watch for.
See chart and read the rest HERE
Plan your trade and trade your plan.
Memorial Day 2023 Futures Trading Schedule
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 when it comes to Futures Trading.
for 05-26-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Learn more about trading S&P Futures here.
When it comes to trading S&P futures, having the right partner can make a significant difference in your trading success. Cannon Trading Company has emerged as a reputable brokerage firm with a strong track record and a range of services tailored for traders interested in S&P futures. In this article, we will explore the reasons why trading S&P futures with Cannon Trading Company can be a wise choice, highlighting their expertise, cutting-edge technology, personalized support, and commitment to client satisfaction.
III. Personalized Support and Education:
One of the key advantages of trading S&P futures with Cannon Trading Company is their commitment to personalized support and education. They prioritize building strong relationships with their clients and offer dedicated support throughout the trading journey. Their team of knowledgeable brokers is readily available to assist traders with any questions, concerns, or technical issues they may encounter. Furthermore, Cannon Trading Company provides educational resources, including webinars, tutorials, and market commentaries, to help traders enhance their understanding of S&P futures and refine their trading skills.
When it comes to trading S&P futures, partnering with a reputable and experienced brokerage firm is essential for success. Cannon Trading Company offers a range of compelling reasons to choose them as your trading partner. With their expertise in S&P futures, advanced technology and platforms, personalized support, comprehensive trading tools and services, competitive pricing, and unwavering commitment to client satisfaction, they provide a robust trading environment for S&P futures traders.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
By Mark O’Brien, Senior Broker
General:
This week more than most (and just wait ‘til next week), Washington D.C. holds the key to price action in the futures markets and more broadly, global economic sentiment. As of this writing, there are still no signs that negotiations regarding the raising of the U.S. borrowing level are approaching a breakthrough. Futures markets – particularly ones in the financial sector such as interest rate instruments, equity indexes and currencies are justified in their unease. If the U.S. government misses an interest payment and defaults on its debt, even for just a few hours next week, its creditworthiness could suffer long-lasting consequences. For proof, just examine the plans being made by this country’s three major ratings companies — S&P Global Ratings, Moody’s and Fitch Ratings. All three are prepared to lower the rating of the United States as a borrower and not just temporarily if lawmakers come to a late agreement. More proof: in 2011, even though a debt-limit deal was reached, the U.S. lost its S&P AAA credit rating – lowered to AA+ – and has not recovered since.
Metals:
Copper, ever eyeing the economic conditions within the world’s biggest consumer: China, continued to be disappointed in that country’s flagging recovery and slid to lows not seen since last November. The July contract lost over 10 cents today, intraday, a ±55-cent / $13,500 slide since the beginning of April.
Softs:
Today’s intraday high of $2.9590 per pound in July orange juice marks a new all-time high for this famed commodity (remember Eddie Murphy in Trading Places) reestablishing a significant price increase from ±$2.00 at the beginning of the year. The latest surge – a mere eight trading sessions – elevated prices ±55 cents – a ±$8,250 move.
Currency:
More often observed for guidance on other markets’ direction, the U.S. Dollar Index has cautiously moved up ±370 points / $3,700 off its lows near 100.00, a level down through which it has unsuccessfully tried to puncture three times this year, most recently at the beginning of the month.
It can’t be understated as we approach the date an agreement would need to be in place to deal with our federal government’s debt limit (approximately June 1) that traders across the commodities spectrum – including the aforementioned as well as metals, energies, even agricultural products – need to take heed when entering the markets. As we approach that point in time, markets may be more and more on a knife-edge and quick to react. While it’s more fortunate that the situation is “local,” as opposed to being influenced by international affairs and any developments tend to reported at a fast pace, trade with caution and alertness.
Plan your trade and trade your plan.
Memorial Day 2023 Futures Trading Schedule
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 when it comes to Futures Trading.
for 05-25-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
*Dates and times are subject to change
If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010
More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html
Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours
The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.
Learn about futures trading platforms offered by Cannon Trading Company here.
When it comes to futures trading, choosing the right platform is essential for success. With so many futures trading platforms available, it can be difficult to know which one to choose. In this article, we will explore some of the key characteristics to look for when choosing a futures trading platform.
Before choosing a futures trading platform, make sure to research the platform’s reliability. Look for reviews from other traders, and check the platform’s uptime and response times during periods of high trading activity.
It’s also important to choose a platform that is regulated by a reputable regulatory authority. This will help ensure that the platform operates within legal guidelines and is held accountable for any misconduct.
A demo account is a useful tool for traders who want to test the platform and practice trading strategies without risking real money. Look for platforms that offer demo accounts that simulate real trading conditions. This will allow you to familiarize yourself with the platform and test your strategies in a risk-free environment.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
By John Thorpe, Senior Broker
THIS WEEK FOMC Minutes will be the big mover in addition to ongoing Debt limit increase negotiations between The Executive and Legislative branches of government. Minutes of the FOMC meeting of May 2-3 will be released on Wednesday at 1:00PM CDT. In the immediate wake of the FOMC statement there was optimism that Fed policymakers were leaning toward a pause in interest rates after a swift raising of the fed funds target range by 500 basis points that began 13 months ago. However, Fed Chair Jerome Powell pushed back against that perception in his press briefing on May 3. Although, he did say last week that tight credit conditions may limit the need for further policy tightening. In the weeks since the meeting, other Fed policymakers have cautioned against being too certain that more rate hikes are not on the way.
The minutes are likely to reinforce these views, and that these views probably haven’t shifted. The economic data released in recent weeks point to a still strong labor market and continued stubborn inflation. This is the formula that has kept the Fed on a path of further tightening to address imbalances in the labor supply/demand and reduce demand for goods and services that are pushing up prices.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-23-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Learn more about working with Cannon Trading Company commodity brokers here.
Commodity brokers play an important role in the futures market, helping traders to buy and sell commodity contracts such as gold, oil, and agricultural products. A good commodity broker can help traders navigate the complexities of the market, providing valuable advice and guidance on trading strategies and risk management. In this article, we’ll explore the ten signs that you’re working with a good commodity broker.
Commodity brokers play a critical role in the futures market, helping traders to navigate the complexities of commodity trading and manage their risk. When choosing a commodity broker, look for a broker with a solid reputation, regulatory compliance, competitive fees, access to markets, a reliable technology platform, trading education, risk management tools, personalized service, transparency, and support for multiple account types. By working with a good commodity broker, traders can enhance their trading experience in the futures market.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
Learn more about trading e-mini futures with Cannon Trading Company here.
E-mini futuresl, or electronically traded mini futures contracts, are a popular instrument for traders looking to access a wide range of markets with relatively low capital requirements. E-mini futures are designed to track the performance of major stock indexes, commodities, and currencies. In this article, we’ll explore the pros and cons of trading E-mini futures to help you decide if they are right for you.
Pros of Trading E-mini Futures
Cons of Trading E-mini Futures
E-mini futures can offer a number of benefits to traders, including diversification, lower capital requirements, high liquidity, transparency, and leverage. However, they also come with some drawbacks, including volatility, technical complexity, time commitment, and market dependency. Traders should carefully consider these pros and cons before deciding to trade E-mini futures. As with any investment, it is important to have a clear understanding of the risks involved and to have a solid trading plan in place before committing any capital.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
Join our private Facebook group for additional insight into trading and the futures markets!
Then here is your golden opportunity. CME Group will be launching the Go for Gold Precious Metals Trading Challenge coming this June.
You’ll have the opportunity to practice trading highly liquid Precious Metals products while competing against other traders for the chance to win the grand prize of a 1 oz. bar of gold*.
During the challenge, you’ll explore our suite of precious metals contracts and test-drive strategies in a simulated environment. We’ll send you exclusive, daily education materials on precious metals contracts in order for you to feel prepared to trade and confidently compete against your peers.
*Participants will only be eligible to receive a 1 oz. gold bar if permitted in accordance with the applicable laws of their jurisdiction.
START DATE: June 4, 2023
END DATE: June 9, 2023
A Cannon broker will be able to assist, provide feedback and answer any questions.
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Weekly Levels
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.
Read more about trading through a Cannon Trading Company futures trading broker here
When it comes to futures trading, having the right broker on your side can make all the difference. At Cannon Trading Company, you’ll find a team of seasoned futures trading brokers who have been in business for a while and have a wealth of experience and knowledge to share. In this article, we’ll take a closer look at the benefits of working with a seasoned futures trading broker and how Cannon Trading Company’s team of brokers can change your outlook on trading commodities and futures.
In addition to their experience, Cannon Trading Company’s brokers have a wealth of knowledge about the markets and the factors that can affect commodity prices. They stay up-to-date on the latest market trends and news, and they use this information to provide clients with informed recommendations on trades.
Working with a seasoned futures trading broker can change your outlook on how to trade commodities and futures. Cannon Trading Company’s team of brokers possesses the experience, knowledge, and personalized service needed to help clients succeed in the futures markets. They are transparent, efficient, and committed to providing clients with the guidance and support they need to make informed trading decisions. If you’re looking for a futures trading broker that can help you achieve your trading goals, consider working with Cannon Trading Company.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-19-2023
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 here in 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 judgement in trading.
Learn more about oil futures here
Oil futures are contracts that allow traders to buy or sell a predetermined amount of crude oil at a predetermined price and date in the future. They are traded around the world on various exchanges, including the United States, Great Britain, and Asia. In this response, we will compare the different grades of crude oil futures traded around the world.
United States Crude Oil Futures
The most widely traded oil futures contract in the United States is the West Texas Intermediate (WTI) crude oil futures contract, which is traded on the New York Mercantile Exchange (NYMEX). WTI is a high-quality, light, sweet crude oil that is produced in the United States. It is a benchmark crude oil that is used to price other crude oil grades around the world. WTI futures contracts are deliverable in 1000 Barrel Increments per contract.
Great Britain Crude Oil Futures
In Great Britain, the most widely traded crude oil futures contract is the Brent crude oil futures contract, which is traded on the Intercontinental Exchange (ICE). Brent is a light, sweet crude oil that is produced in the North Sea. It is also a benchmark crude oil that is used to price other crude oil grades around the world. Brent futures contracts are physically deliverable with an option to be settled in cash, with the settlement price based on the average price of trades during the last trading day.
Asia Crude Oil Futures
In Asia, there are several crude oil futures contracts traded on various exchanges. The most widely traded contracts are the Dubai Crude Oil Futures contract, traded on the Dubai Mercantile Exchange (DME), and the Oman Crude Oil Futures contract, traded on the Dubai Mercantile Exchange (DME) and the Intercontinental Exchange (ICE). Dubai and Oman crude oils are medium to heavy crude oils that are produced in the Middle East. They are primarily used in Asian refineries and are priced relative to the Brent and WTI crude oil benchmarks.
Other Crude Oil Futures Grades
There are many other crude oil grades that are traded around the world, including:
Each of these crude oil grades has different characteristics, such as API gravity, sulfur content, and viscosity, which make them more or less suitable for different refining processes. As a result, they are priced differently relative to benchmark crude oils such as WTI and Brent.
Oil futures are an important financial instrument that allow traders to speculate on the price of crude oil and manage their exposure to price fluctuations. They are traded around the world on various exchanges, with different crude oil grades serving as benchmarks for pricing. The most widely traded crude oil futures contracts are the WTI crude oil futures contract in the United States, the Brent crude oil futures contract in Great Britain, and the Dubai and Oman crude oil futures contracts in Asia. Other crude oil grades, such as Mars, Bonny Light, Tapis, Es Sider, and Basrah Light, are also traded around the world and priced relative to benchmark crude oils. Understanding the differences between these crude oil grades and their benchmark pricing is important for traders looking to invest in oil futures.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey with Cannon Trading Company today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
Then here is your golden opportunity. CME Group will be launching the Go for Gold Precious Metals Trading Challenge coming this June.
You’ll have the opportunity to practice trading highly liquid Precious Metals products while competing against other traders for the chance to win the grand prize of a 1 oz. bar of gold*.
During the challenge, you’ll explore our suite of precious metals contracts and test-drive strategies in a simulated environment. We’ll send you exclusive, daily education materials on precious metals contracts in order for you to feel prepared to trade and confidently compete against your peers.
*Participants will only be eligible to receive a 1 oz. gold bar if permitted in accordance with the applicable laws of their jurisdiction.
START DATE: June 4, 2023
END DATE: June 9, 2023
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-17-2023
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 here in 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 judgement in trading.
Tomorrow Fed Members Mester and Bostic are speaking @ 7:15 and 7:55 am CDT respectively. Retail sales numbers will be released during Mester’s words @ 7:30 am CDT. Analysts expect Retail sales to rise .07 % from March’s numbers that were negative for auto’s and gasoline. Industrial production will be released shortly thereafter and during Bostic’s speaking engagement @ 8:15am CDT. Analysts expect a flat IP number with capacity utilization lower by a few percentage points as layoffs may accelerate in the manufacturing sector. Wednesday we will see Housing Starts and permits. Analysts have revealed “Housing starts in March edged lower to a 1.420 million annualized rate; April is expected to slip further to 1.405 million. Permits, at 1.413 million in March and, though lower than expected, very near the starts rate, is expected to rise to 1.430 million.” per Econoday. Jobless claims will be Thursday’s highlighted report and expected to fall within the 250-270K range. Existing Home Sales top of the week’s reports @ 9am CDT sandwiched in between Fed governor speech’s , Jefferson @ 8:05 am CDT and Logan @ 9 am CDT,, remember that markets like to discount expectations and only move when the data is out of line with expectations.. we wrap up the Fed Governor’s speeches for the week when the big Kahuna , Fed Chair Jerome Powell will be speaking publically Friday @ 10am CDT!..
As always, plan your trade and trade your plan!
Then here is your golden opportunity. CME Group will be launching the Go for Gold Precious Metals Trading Challenge coming this June.
You’ll have the opportunity to practice trading highly liquid Precious Metals products while competing against other traders for the chance to win the grand prize of a 1 oz. bar of gold*.
During the challenge, you’ll explore our suite of precious metals contracts and test-drive strategies in a simulated environment. We’ll send you exclusive, daily education materials on precious metals contracts in order for you to feel prepared to trade and confidently compete against your peers.
*Participants will only be eligible to receive a 1 oz. gold bar if permitted in accordance with the applicable laws of their jurisdiction.
START DATE: June 4, 2023
END DATE: June 9, 2023
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-16-2023
Economic reports for future traders
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 here in 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 judgement in trading.
Then here is your golden opportunity. CME Group will be launching the Go for Gold Precious Metals Trading Challenge coming this June.
You’ll have the opportunity to practice trading highly liquid Precious Metals products while competing against other traders for the chance to win the grand prize of a 1 oz. bar of gold*.
During the challenge, you’ll explore our suite of precious metals contracts and test-drive strategies in a simulated environment. We’ll send you exclusive, daily education materials on precious metals contracts in order for you to feel prepared to trade and confidently compete against your peers.
*Participants will only be eligible to receive a 1 oz. gold bar if permitted in accordance with the applicable laws of their jurisdiction.
START DATE: June 4, 2023
END DATE: June 9, 2023
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-12-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
General:
Despite the fireworks frequently on display from stock index futures immediately preceding the release of the Consumer Price Index report over the last several months, an interesting result followed. In each of the last five releases, the S&P 500 closed within 0.5% of the prior day’s settlement. This is in stark contrast to some of the reports last year, notably November’s CPI release that sent the Nasdaq up ±7%.
On the heels of today’s CPI release indexes are looking to finish up with a similar outcome. This morning’s report showed consumer prices up 4.9% from last year, yet it marked the tenth consecutive month the inflation gauge slowed – now down from its peak of 9.1% last June, but still well north of the Federal Reserve’s 2% target.
Next up tomorrow at 7:30 A.M., Central Time, the Bureau of Labor Statistics releases its latest reading on prices at the wholesale level: its Producer Price Index.
Markets:
Metals: After piercing last month’s highs and touching $2,085 / ounce intraday last Thursday, June gold has consolidated somewhat, not too scared or encouraged by today’s inflation report – and not ready to anticipate the Fed.’s next move.
July copper sold off ±5 cents today and for the fifth time in the last ten trading sessions has tested 5-month lows near $3.82 / pound. This on the heels of languid economic reading from the world’s largest commodities consumer: China.
Energies: The negative sentiment from China dragged crude oil below its 5-6-month intraday low of March 20th at $64.58 per barrel, trading intraday last Thursday to $63.64 per barrel, a ±$20-per-barrel / $20,000 per contract skid from its mid-April ascendance to ±$83 per barrel. Given crude oil’s seemingly continual fixation with the events of the day – whatever they are – volatility remains – and the market has bounced ±$10 per barrel in barely four trading sessions.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-11-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
The week ahead, more inflation data and the Elephant in the room. Joe Biden is heading into a critical week with congressional leaders over the debt limit . A battle that neither side wants, that neither side wants to compromise on, but both sides need to resolve. A Tuesday meeting will provide odds of a resolution happening in the few weeks remaining before the debt default deadline, June 1st. Be prepared for the volume on each sides megaphone’s to be amplified by the ten’s of decibels. What we do know this week is that no less than 4 Fed board governors will be speaking, 2 on Tuesday during market hours; 7:30 am CDT and 11:05 am CDT respectively, 9:15am CDT Wednesday with Bullard wrapping up the speaking engagements after the Friday close, potentially impacting Sunday nights trade. Inflation DATA : Fasten your seat belts for these 2 numbers CPI Wednesday morning @ 7:30 CDT , economists expectations are really no change from the previous months data, that seems like more of a hope to me, be ready if you like to trade the CPI for anything. Speaking of being ready for anything, Thursday mornings release of the PPI @ 7:30 am CDT may also create unnatural volatility as economists are expecting producer prices to have increased in April from the March reports decline. prepare yourselves for large intraday moves. keep your ears to the wall as you listen for clues to further fed tightening or pauses as these Fed Governors’ speak. At Cannon we are known for creating a trading plan and trading that plan.
Plan your trade and trade your plan.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-09-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
13:30 BST / 08:30 EDT
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SUMMARY: Headline NFP is expected to rise by 180k in April, cooling from the prior 236k while the unemployment rate
is seen ticking up slightly to 3.6% from 3.5%. The wages will be eyed to gauge inflationary pressures, and M/M wages are expected to maintain a pace of 0.3% while the Y/Y is seen rising 4.2%, the same pace in March. Labour market proxies have been mixed: initial jobless claims rose in the week that coincides with the BLS survey period, while continued claims moved lower; the ADP added jobs well above expectations, but wages were cool; ISM Manufacturing employment gauge returned to expansionary territory, and the Services employment remained in expansionary territory,
but it did slow from March.
The jobs report will be used to gauge the Fed’s next move, whether that be a pause, or lead to some “additional policy firming”, but it is worth stressing there is plenty of data between now and the June 14th FOMC, while the expected and actual tightening of credit conditions will also be key, particularly after First Republic (FRC) saga and more recently, PacWest (PACW) exploring options.
EXPECTATIONS: Headline NFP is expected to show 180k jobs were added in April, down from March’s 236k, while analyst forecasts range from 94k-265k. This compares to the 3-,6-, and 12-month averages of 345k, 315k, and 345k, respectively. 180k would mark a cooling in the growth of the labour market to levels more consistent with pre-COVID trends, coming down from extremely hot levels. The unemployment rate is seen rising to 3.6% from 3.5%, with forecasts ranging between 3.4-3.7%, but still well below the FOMC’s median view of 4.5% by year-end and at 4.6% by the end of
2024.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-05-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Find out more about corn futures here.
Corn futures are contracts traded on commodities exchanges, which allow investors to speculate on the price movements of corn at a future date. Trading corn futures can be a lucrative investment opportunity for those who have a good understanding of the market and employ the right trading techniques. Here are some techniques that traders can use to trade corn futures:
In conclusion, trading corn futures requires a combination of technical and fundamental analysis, as well as an understanding of seasonal patterns and market dynamics. Traders can use a variety of techniques, including options trading, spread trading, scalping, position trading, news trading, and algorithmic trading, to profit from the price movements of corn futures. Successful trading requires discipline, risk management, and a commitment to continuous learning and improvement.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey at CannonTrading.com today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
Learn more about crude oil futures here.
Oil futures are a type of financial contract that allows traders to speculate on the future price of crude oil. Trading oil futures can be an effective way to capitalize on the volatility of oil prices, but it requires a comprehensive understanding of the market and the techniques that can be used to make informed trading decisions.
Here are some techniques that can be used to trade oil futures effectively:
Trading oil futures can be a challenging but potentially lucrative activity for traders who are willing to put in the effort to develop a comprehensive understanding of the market and the techniques that can be used to trade effectively. By using a combination of technical and fundamental analysis, news trading, scalping, swing trading, position trading, options trading, and hedging, traders can potentially maximize profits and manage risk in the volatile oil futures market.
Ready to start trading futures? Call 1(800)454-9572 and speak to one of our experienced, Series-3 licensed futures brokers and start your futures trading journey at CannonTrading.com today.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.
By Mark O’Brien, Senior Broker
Today’s FOMC trading volume on the ES was one of the lowest I ever seen o an FOMC day!!
Over the weekend of April 1-2 – one month ago, Saudi Arabia and other OPEC+ oil producers announced cuts in their collective crude oil output that amounted to about a million barrels per day. Prior to the announcement – a surprise before the group’s ministerial panel meeting on Monday where analysts expected the oil cartel would hold steady on production – front month crude oil futures had dropped to near 15-month lows approaching $70 barrel. At Sunday’s opening of trading, crude prices gapped up over $5.00 per barrel.
If as some analysts surmised after the cuts were announced, which was that OPEC+ was taking pre-emptive steps in case of any possible demand reduction, they were dead on. Since then, renewed fears of recession in the U.S. (seemingly a constant over the last 12 months or so) have once again stoked demand fears in the energy sector. June crude oil futures have since filled the price gap created on that Sunday opening in early April and have continued falling. As of this typing, crude has sliced ±$15.00 off its post-announcement high, through $70.00 per barrel and is currently hovering near $69.00. Even this week’s news of another Iranian seizure of a foreign-flagged oil tanker in the Persian Gulf and yesterday’s much-larger-than-expected decline in crude oil stocks – 3.9 million barrels – failed to quell bearish sentiment. Keep an eye on this Friday’s jobs data as the report now stands in front of a significant crude oil sell-off with the numbers more capable than usual to drive the direction of crude oil near-term.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-04-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
The Week ahead…. FOMC, More Earnings, earnings ,over 2000 companies reporting, who’s got the earnings ! another heavy week of earnings reports, AMD, Pfizer, Apple Headline earnings this week, both AMD and Pfizer are tomorrow, Pfizer pre opening and AMD after the close.. Apple reports after the close on Thursday May 4th.
FOMC WEEK! but wait! that’s not all… NonFarm Payrolls Friday morning before the open. This week, the fed fund futures market is anticipating a 92% probability of a .25 rate increase.. in spite for the suffrage of some banks and confidence of many depositors. Probabilities are measured thru the CME FedWatch tool, what happened to the other .08% probability? that’s what has been assigned to the” remain @ 4.75-5.0 percent” at the fed window. Wednesday @2pm EDT is the rate announcement followed 30 minutes later by the Honorable Fed Chair Jerome Powell’s statement followed by a brief q &A language is key in these matters to see if the Federal Open Market Committee thinks it’s time to lay of the gas for the near future.
Lastly, Friday NonFarm Payrolls are to be released as they tend to be on the 1st Friday of the new month for the prior month,, here are the anticipated results, any real numbers that differ from the anticipated numbers will always move the market as the anticipated set of data tends to have already been discounted by the market.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 05-02-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Last trading day of April tomorrow!
See reports section below:
PCE
Univ. of Michigan
and Chicago PMI tomorrow can inject additional volatility into the market.
Both ES and NQ are trading against intermediate resistance level.
The Coinbase Derivatives Exchange (CDE) Nano Bitcoin and Nano Ether Futures Contracts are now available on E-Futures Int’l trading platform. Cannon Trading, through our clearing partner, StoneX Offers Clients Access to Coinbase Derivatives Exchange Contracts Cleared by Nodal Clear | Business Wire
E-Futures Contract Symbols
Nano Bitcoin = BIT
Nano Ether = ET
Contract Specs
Coinbase_Derivatives_Nano_Bitcoin_Spec_V2.pdf (ctfassets.net)
Coinbase_Derivatives_Nano_Ether_Spec_V2.pdf (ctfassets.net)
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 04-28-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
The Coinbase Derivatives Exchange (CDE) Nano Bitcoin and Nano Ether Futures Contracts are now available on E-Futures Int’l trading platform. Cannon Trading, through our clearing partner, StoneX Offers Clients Access to Coinbase Derivatives Exchange Contracts Cleared by Nodal Clear | Business Wire
E-Futures Contract Symbols
Nano Bitcoin = BIT
Nano Ether = ET
Contract Specs
Coinbase_Derivatives_Nano_Bitcoin_Spec_V2.pdf (ctfassets.net)
Coinbase_Derivatives_Nano_Ether_Spec_V2.pdf (ctfassets.net)
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 04-26-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
Amazon, Alphabet, Microsoft other companies scheduled to report this week represent a broad section of the economy. B of A, Visa , Mastercard, Meta platforms another big tech co laying out the numbers for all to see. It will be interesting to see how the tech sector reports since the recent rally was largely lead by the tech sector as the industry has been actively trimming head count for the past 9 months. When you read or hear these earnings reports (the past) it’s critical to pay attention to forward looking statements (the future) that will form an economic forecast of sorts for you. File that away in your cranium as you accumulate these forward looking statements from the large corporate CEO’s and COO’s . As you compile the aggregate , you will have a better sense of where our economy is headed.
On the economic numbers front pay attention to Housing date tomorrow, the 25th , Durable goods on Wednesday the 26th and GDP, jobless claims on Thursday the 27th. there is plenty of data coming this week to expose the markets to tide after tide after tide of highs and lows from which to trade.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 04-25-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Join our private Facebook group for additional insight into trading and the futures markets!
A Cannon broker will be able to assist, provide feedback and answer any questions.
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
Weekly Levels
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
July is front month for GRAINS and SOFTS.
Flash PMI tomorrow.
Would you like to try the signals below on your own charts? The below is ES 10,000 volume chart from today’s session.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINACIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETLEY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 04-21-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
General: Albeit a lurching progression, as it’s coming out of the first quarter, China’s Post-Covid recovery looks to be gaining traction – arguably more so than here in the U.S. – if their trade balance numbers are a good yardstick. Data released early last week showed a meaningfully-above-consensus $88.2 billion surplus, including a year-over-year 14.8% increase in exports (its first YOY gain in six months) and a stout 28% monthly increase in crude oil imports (12.3 million barrels per day) over February. Iron ore and coal imports also showed considerable month-over month gains. We keep an eye on this country’s economic health because it accounts for ±18% – almost a fifth of the world’s GDP, second to the U.S. at ±25%. The next 10 countries combined, including Japan, Germany, the U.K., India, Canada and South Korea account for another ±30%.
With their economies in competition with each other, further recovery for China against the U.S.’s current grind to control inflation and stave off a recession – even the slightest of one – puts pressure on the dollar, now ±6 months in decline from its 20-year highs. This bodes well for physical commodities such as copper, crude oil grains and soy complex markets. Keep an eye on the world economic picture – particularly China’s journey to recovery – to provide guidance for your trades.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 04-20-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Is it news? big players? perhaps order flow?
Should you be trading one market and become an “expert” or should you be following a few markets for diversification?
Have you heard about spreads? same day options?
You can get answers to the above and MUCH more by talking to an experienced broker which can be one of the most valuable resources a trader can utilize when trading futures.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 04-18-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Yesterday’s CPI print with FOMC minutes triggered a sell off into the market. Coming into today, the jobless claims news triggered a rally. Despite us selling off yesterday, bulls were able to regain back control as dips has been bought.
As this plays out, people who are short managed to get squeezed out fueling the market higher like today.
Is this a short covering or a resumption of short term uptrend? In my opinion tomorrow’s report will provide additional clues.
See 30 minute chart below.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 04-14-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
General: The March Consumer Price Index came in cooler than expected, showing a rise of 0.1% in March. Economists polled by Dow Jones were expecting CPI to rise by 0.2% month over month.
Minutes from the Federal Reserve’s March policy meeting showed officials feared that the economy could tilt into a mild recession later this year in the wake of the U.S. banking crisis.
Yesterday, Bitcoin futures (BTC) pushed over the $30,000 level for the first time since June 2022. This on the heels of a ±10,000-point move from March 10 when the April contract traded to an intraday low of 19,620 and closed at 20,110.
Today, May orange juice futures closed at an all-time high of $2.8490 per pound a remarkable ±80-cent / $12,000 move from late January. This year, the U.S. orange crop is forecast to be the smallest since 1937. Output has generally been in decline since peaking 25 years ago, though this year’s losses in Florida – a global top producer still – are extremely sharp. Yesterday, the USDA pegged the 2022-2023 U.S. orange crop at 62.25 million boxes, an 86-year low and down 23% on the year. That is less than 20% of U.S. output compared to the record 1997-1998 season.
May sugar futures traded today to 6 1/2 -year highs and an intraday high of 24.85 cents/pound continuing its months-long charge from the 17-18-cent range (one cent = $1,120). News of lower-than-expected production in some key regions and tightening supplies have persisted into the year.
For the seventh consecutive session, June gold has closed above $2,000/ounce. Referencing the Fed minutes mentioned above, economists have cited rising interest rates and now a potentially more acute slowdown in lending after the collapse of several U.S. banks as a possible trigger of a recession this year. The prospect of a U.S. recession boosts safe-haven demand for gold, which has been on a tear since early-March – with a ±$200 per ounce / $20,000 move.
Plan your trade and trade your plan.
First Notice and Last trading Days for the month of May below
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 when it comes to Futures Trading.
for 04-13-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
by John Thorpe, Senior Broker
I hope everyone is rested from the holiday week behind us, this week’s economic number releases should keep all the traders on their toes.
CPI Wednesday! The standouts will be the March CPI data on Wednesday at 7:30 CT and retail and food services sales at 7:30 CT on Friday. The CPI will be critical to the inflation outlook for Fed policymakers.
Previous CPI reports have created velocity logic events in the stock indices at the CME. The above reports will Bookend the FOMC minutes release @1pm CT on Wednesday.
If you recall the FED Meeting Black out period was before the Bank issues so don’t expect too much verbage about the banking situation in this report. Also Remember, expectations will be baked into the market at release time, after release, the market has sustained moves when the reality is much different from the expectations.
Plan your trade and trade your plan.
First Notice and Last trading Days for the month of May below
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 when it comes to Futures Trading.
for 04-11-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Heads up everyone, a bit of a different Good Friday schedule than years past.
Good Friday was the one holiday all commodity brokers loved as almost all markets were completely closed. With NFP out this Friday, the CME will have a few markets open to allow for risk management. Equities will remain open until 8:15 AM central Friday. Currencies & rates until 10:15 AM central.
Please see full list below. Happy Easter/ Passover to all.
Plan your trade and trade your plan.
Good Friday Hours Summary Below:
Below are the contracts which are entering First Notice or Last Trading Day for the upcoming month. Be advised, for contracts that are deliverable, it is requested that all LONG positions be exited two days prior to First Notice and ALL positions be exited the day prior to Last Trading Day.
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 when it comes to Futures Trading.
for 04-07-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
In this session, we’ll take a look at QT Market Center, a leading trading platform used by hedgers and professional traders world wide.
When: Tomorrow ( Thursday Apr. 6th) at 2 PM Central Time
Mark Bucaro, an ex floor trader will share some of the features and tools QT offers and how you can possibly use it to help your trading.
In this webinar you will learn and see live examples:
• Proprietary Price Counts Price Forecasting Tool
• Realtime Agricultural/Livestock/Ethanol-Energy News, Weather, Audio Charts, & Quotes and more all from one platform – Desktop, Tablet, Smartphone Accessible
• Daily Chart of the Day Subscription with Price Counts Price Forecasting Levels Included
• Profitability Cost Calculator – Input your costs and get your profitability results in seconds
• Web based Platform Access, Desktop (Smartphone & Tablet Access included Free) from virtually anywhere there is an internet connection
• Cost Effective, Reliable and Fast
• Reduced Live and Snapshot Quotes Fee Cost Options Available
• Realtime Live Streaming Agricultural & World Weather Audio Market Commentary Updates (accessible from Desktop, Tablet & Smartphone when out in the field)
• Access Current and 11+ years of Archived USDA Reports,
SPACE is LIMITED, so reserve your space now!
Heads up everyone, a bit of a different Good Friday schedule than years past.
Good Friday was the one holiday all commodity brokers loved as almost all markets were completely closed. With NFP out this Friday, the CME will have a few markets open to allow for risk management. Equities will remain open until 8:15 AM central Friday. Currencies & rates until 10:15 AM central.
Please see full list below. Happy Easter/ Passover to all.
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 when it comes to Futures Trading.
for 04-06-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
ADP early tomorrow, followed by ISM to provide direction on a SHORT TRADING week ahead.
Heads up everyone, a bit of a different Good Friday schedule than years past.
Good Friday was the one holiday all commodity brokers loved as almost all markets were completely closed. With NFP out this Friday, the CME will have a few markets open to allow for risk management. Equities will remain open until 8:15 AM central Friday. Currencies & rates until 10:15 AM central.
Please see full list below. Happy Easter/ Passover to all.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 04-05-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Primarily labor department data.
A big Note, BIG.. Good Friday is the same day as the Non Farm Payrolls release
The cash equities will be closed but the Futures will be open for the report and only 45 minutes after!
That’s right, just 45 minutes for the market to absorb the jobs data.
NonFarm Payrolls will be released @ 8;30 ET and the market is closing @ 9:15 ET until a Sunday night reopen
The bonds will be open until 10.15ET
The focus in the April 3 week will be on labor market data, just how tight employment remained at the end of the first quarter 2023 and what that means for the economic outlook and monetary policy.
Note that April 7 – Good Friday – is not a federal holiday in the US. However, there is an early close at 2:00 ET that day for the capital markets; the stock market will have a full close.
The February JOLTS report at 10:00 ET on Tuesday It will almost certainly show the number of people voluntarily quitting a job is declining as the imbalances in the labor market improve.
The ADP national employment report for March at 8:15 ET on Wednesday should indicate where private payrolls are growing. tech companies and some financial services may be weaker. Also important to note will be if wage growth is easing up.
The Challenger report for March at 7:30 ET on Thursday will highlight the sectors where layoffs announcements are taking place. In recent months it has been the tech sector that has dominated the story, but the February report hinted that layoffs are becoming more broad-based due to deteriorating business conditions.
The employment situation for March at 8:30 ET on Friday is expected to show that payrolls continued to rise at a healthy pace, although not as quickly as in January and February. March payrolls can be tricky to seasonally adjust due to the timing of spring breaks for various school systems and the Easter/Passover observances.
Plan your trade and trade your plan.
Good Friday Hours for this Friday Below:
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 when it comes to Futures Trading.
for 04-04-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
*Dates and times are subject to change
If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010
More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html
Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours
The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.
From our friends at Hightower Report
For the USDA prospective plantings report on Friday, the average trade expectation for US soybean plantings is
88.3 million acres, with a range of expectations from 87.4 to 89.6 million. This would be up from 87.5 million last
year. The USDA Outlook Forum had planted area at 87.5 million acres as well.
For the Quarterly Grain Stocks report, US March 1 soybean stocks are expected to come in around 1.728 billion bushels (range 1.600-1.910 billion) versus 1.932 billion last year. Brazil may need to supply up to half of the soybeans that Argentina will import after the worst drought in 100 years devastated its fields and cut 2023 output nearly in half.
Argentina may need to import up to 10 million tonnes of soybeans. For the weekly export sales report, traders see soybean sales near 100,000-600,000 tonnes for old crop and another 50,000-300,000 tonnes for new crop. Meal sales are expected near 75,000-250,000 tonnes and oil sales are expected near zero-20,000 tonnes.
TODAY’S MARKET IDEAS:
Look for support in November Soybeans at 1291 3/4, with 1316 and then 1337 1/2 as key resistance. July Soybean support is at 1443, with 1464 3/4 as next key resistance. July Soybean Meal support is at 447.30, with 459.10 and 465.70 as resistance.
For the USDA planted acreage report on Friday, traders see US corn plantings near 90.9 million acres, 87.7-92.1 range, as compared with 91 million acres from the USDA Outlook forum and from 88.6 million last year. We lean to the higher end of estimates.
Traders see March 1 corn stocks at 7.474 billion bushels which would be the lowest since 2014. The range of estimates is 7.240-7.830, as compared with 7.758 billion last year. For the weekly export sales report, traders see corn sales near 600,000-1.8 million tonnes for old crop and 50,000-300,000 tonnes for new crop.
For the USDA planted acreage report on Friday, traders see all wheat planted area at 48.9 million acres, 45.7-50.0 range, as compared with 49.5 million acres from the USDA Outlook Forum. Spring wheat planted area is expected near 10.9 million acres, 9.8-12.0 range, as compared with 10.8 million acres last year. Winter wheat plantings are expected near 36.3 million acres from 33.3 million in 2022. Traders see wheat stocks as of March 1 at 929 million bushels, 875-1.020 billion range, as compared with stocks last March at 1.029 billion bushels last year. For the weekly export sales report, traders see wheat sales near 125,000-300,000 tons for old crop and 0-150,000 tons for new crop.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 03-31-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior broker
Tomorrow is GDP – Market moving event.
This Friday is First Notice Day for April gold. Holding long positions in this futures contract into Friday subjects you to receiving a delivery notice from the exchange for 100 ounces of gold. You would then be required to have the full notional value of each 100-ounce futures contract on deposit in your account.
This upcoming event may not apply to any positions in your account this time, but if you ever take a long position in a futures contract where the method of settlement for that contract is the exchange of the actual physical asset, for example 100 ounces of gold, 5,000 bushels of oats, 37,500 pound of Arabica coffee, then you need to be mindful of those dates on the calendar that relate to the futures contracts you trade – Like First Notice Day. It can be a costly mistake even if you overlook an important date and find yourself in need of having to change your mind. After being informed that your account has received a delivery notice and you move to do an about-face – called retendering in futures parlance – the exchange may present you with a fine for your disregard of the calendar. Be careful.
For the grain markets and impact on livestock prices, Friday will mark the once a year prospective plantings report.
For our Grain Traders and Bona Fide Hedgers
This piece of information from one of our partners,
QTMarketCenter ( sign up for a free trial and enjoy plathora of information!)
Offers expectations for Friday’s big and all important USDA Prospective Plantings report and USDA Quarterly Grain Stocks —
Ahead of this week’s USDA quarterly grain stocks report, analysts are forecasting as of March 1, US Soybean stockpiles at 1.73 bln bu, that compares with the 1.93 bln bu on March 1, 2022
— Ahead of this week’s USDA quarterly grain stocks report, analysts are forecasting as of March 1, US Corn stockpiles at 7.47 bln bu, that compares with the 7.76 bln bu on March 1, 2022
— Grain traders and analysts are forecasting next week’s USDA prospective planting report to show US Soybean acres at 88.3 mln, that compares with last season’s 87.5 mln acres. The data will be released Friday, March 31 around 11:00 am CT.
— Grain traders and analysts are forecasting next week’s USDA prospective planting report to show US Corn acres at 90.9 mln, that compares with last season’s 88.6 mln acres. The data will be released Friday, March 31 around 11:00 am CT.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 03-30-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Thu, Apr 6, 2023 12:01 PM – 1:00 PM PDT
In this session, we’ll take a look at QT Market Center, a leading trading platform used by hedgers and professional traders world wide.
Mark Bucaro, an ex floor trader will share some of the features and tools QT offers and how you can possibly use it to help your TRADING and HEDGING.
• Pre-Opening Comments for Financials, Metals, Ags, and Softs.
• Cycle Timing Commentary for Grains
• David Hightower daily market analysis
• Market Calendar
• Web based Platform Access, Desktop (Smartphone & Tablet Access included Free) from virtually any computer anywhere there is an internet connection
• Easy to use Point and Click with Multi Screen Capability
• Profitability Cost Calculator – Input your costs and get your profitability results in seconds
• Realtime Live Streaming Agricultural & World Weather Audio Market Commentary Updates (accessible from Desktop, Tablet & Smartphone when out in the field)
• Access Current and 11+ years of Archived USDA Reports,
• Realtime Agricultural/Livestock/Ethanol-Energy News, Weather, Audio Charts, & Quotes and more all from one platform – Desktop, Tablet, Smartphone Accessible
• Daily Chart of the Day Subscription with Price Counts Price Forecasting Levels Included
• Proprietary Price Counts Price Forecasting Tool
• Chart Overlays
• Seasonal Charts
• Grain Bids Directory with approximately 16,000 bids
SPACE is LIMITED, so reserve your space now!
https://attendee.gotowebinar.com/register/8469154769041356119
Risk: 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.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 03-29-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior broker
There are few reports with market-moving potential in the March 27 week for the financials, However, for the grain markets and impact on livestock prices, Friday will mark the once a year prospective plantings report.
The third and final estimate of GDP for the fourth quarter 2022 will be reported at 7:30 CDT on Thursday. With the first quarter 2023 already nearing its end, there is far more interest in economic conditions in the January-March period.
Meanwhile, Fed policymakers will be back in public after the end of the communications blackout period from the March 21-22 FOMC meeting. No comments will be more closely attended to than Vice Chair of Supervision Michael Barr’s appearance before the House Financial Services Committee on Wednesday at 9:00 CDT. Aside from the committee’s posturing, Barr’s written testimony and responses to questioning will be a warning to other banks to clean up their risk management and any overreliance on narrow business sectors.
For our Grain Traders and Bona Fide Hedgers
This piece of information from one of our partners,
Offers expectations for Friday’s big and all important USDA Prospective Plantings report and USDA Quarterly Grain Stocks —
Ahead of this week’s USDA quarterly grain stocks report, analysts are forecasting as of March 1, US Soybean stockpiles at 1.73 bln bu, that compares with the 1.93 bln bu on March 1, 2022
— Ahead of this week’s USDA quarterly grain stocks report, analysts are forecasting as of March 1, US Corn stockpiles at 7.47 bln bu, that compares with the 7.76 bln bu on March 1, 2022
— Grain traders and analysts are forecasting next week’s USDA prospective planting report to show US Soybean acres at 88.3 mln, that compares with last season’s 87.5 mln acres. The data will be released Friday, March 31 around 11:00 am CT.
— Grain traders and analysts are forecasting next week’s USDA prospective planting report to show US Corn acres at 90.9 mln, that compares with last season’s 88.6 mln acres. The data will be released Friday, March 31 around 11:00 am CT.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 03-28-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 03-24-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior broker
General
Count ‘em: nine in a row. That’s how many meetings the Federal Reserve has increased its key interest rate. As of today’s .25-point increase, the federal funds rate target range stands at 4.75%-5.00%, the highest level since September 2007. The vote by all 11 members of the Federal Open Market Committee was unanimous. Clearly, the bank runs that toppled Silicon Vally Bank and roiled the banking industry have been front and center in the financial world the last two weeks, but the situation fazed Fed officials little if at all. “The U.S. banking system is sound and resilient,” said the prepared policy statement released at 1:00 P.M., Central Time today. Fighting inflation, it seems, remains the Central Bank’s focus.
Metals
On Monday, gold futures (basis April) pierced through $2,000 per ounce intraday for the first time in a year as the U.S. banking crisis spread to Europe with Credit Suisse, a preeminent name in global investment banking, sought help from Switzerland’s central bank and then put itself up for sale. This marked a ±$18,000 per 100-oz. futures contract move in just eight trading sessions from March 9.
Grains
Wheat continued its ±8-month slide from its multi-year spike high above $13/bushel on the heels of Russia’s invasion of Ukraine to lows not seen since July ’21 as traders see improvement in U.S. winter wheat crop conditions and a lack of significant weather issues across key northern hemisphere wheat producers. The front month May contract closed today at it’s life-of-contract low of $6.22 ¾ per bushel.
Energy
Crude oil continued its almost 9-month decline in prices from over $120 per barrel last June to trade below $65 per barrel (basis May) on Monday, including a ±$15 / $15,000 per contract fall from March 7, scarcely two weeks.
Natural gas basis its May futures contract tested 32-month lows yesterday, threatening to punch through $2.00 per million British thermal units (MMBtu). With the North American winter heating season approaching its end, residential, commercial, and industrial gas demand has been on the decline.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 03-23-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior broker
There is little doubt traders will be tightly focused on the FOMC meeting on Tuesday and Wednesday. The release of the meeting statement at 14:00 ET on Wednesday will settle speculation about whether Fed voters will pause interest rate hikes or take rates higher for the eighth meeting in a row. If the Committee raises rates, by how much? Will it be a 25 or 50 basis points?
Powell’s press briefing at 14:30 ET on Wednesday will be the first opportunity for the press to ask of the Fed Chair about recent turmoil in the banking sector. Most of the news became public just as Fed officials entered the communications blackout period for the next rate announcement (midnight, Saturday March 12 through midnight, Thursday, March 23). Unless there was an urgent need to alter the signals previously given about the direction of monetary policy, it is not a topic that Powell would speak about publicly until after the meeting. Powell is likely to get as many questions about the state of the banking industry in the US as he will about the FOMC decision and forecast. My Favorite tool is the CME FedWatch tool.
The bar graphs represent the fed fund futures prices and adjust daily. As of this writing, according to the tool, there is a 28% chance of no change and a 71% chance of .25 increase, although some economists do expect a .50% increase, the market is discounting that faction and focusing on Zero change or a .25 bump. CME FedWatch Tool – CME Group
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 when it comes to Futures Trading.
03-21-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
CME Group invites you to attend an online event focusing on the Micro E-mini futures and options suite on Wednesday, March 22.
Join us as Craig Bewick, Senior Director of Client Development & Sales, and Paul Woolman, Global Head of Equity Products, discuss the trading performance and rise in liquidity of Micro E-mini Equity futures and options. In addition, they will cover recent enhancements to the suite, including the introduction of Micro E-mini S&P MidCap 400 and SmallCap 600 futures as well as the Micro E-mini Monday-Thursday Weekly options.
Follow the link below to register for this online event. Further instructions will be provided following registration.
DATE:
March 22, 2023
TIME:
8:00 a.m. – 9:00 a.m. (CT)
1:00 p.m. – 2:00 p.m. (GMT)
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 when it comes to Futures Trading.
03-17-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Trade June indices as well as June currencies!
By Mark O’Brien, Senior broker
Crude oil futures prices plunged more than $5.50 a barrel intraday today – touching a low of $65.65 (basis April) – to their lowest in more than a year as news that Credit Suisse’s biggest shareholder, Saudi National Bank, said it would not make further investments in the firm, sending the Swiss lender’s stock plunging ±27% and adding to the already extreme turmoil in the banking sector from the collapse of Silicon Valley Bank and Signature Bank last week here in the U.S.
In turn, gold futures prices climbed over 1% intraday with the April contract topping $1,942.50 per ounce intraday, it’s highest price since early February. Conversely, Copper futures lost ±11 cents / pound – over 4% intraday – with the May futures contract touching $3.84 / lb. matching prices from early January and extending a near month-long ±40-cent / $10,000 decline.
Not surprisingly, with the banking sector hitting rough seas this last week, treasuries have once again assumed their safe-haven status with the 30-yr. T-bond futures contract soaring ±10 full basis points ±$10,000 over the last nine trading days to March 3 and sending the benchmark 10-year Treasury note yield tumbling to near 3.5%
Significant volatility looks to be the order of the day for the near term across the major financial futures sectors – stock indexes, interest rates, currencies – as well as metals and energies. Up next, the FOMC meeting this coming Tuesday/Wednesday.
Be Careful out there, Plan your trade and trade your plan!
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 when it comes to Futures Trading.
03-16-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Trade June indices as well as June currencies!
By John Thorpe, Senior broker
Or rather the weekend update for March 13th.. No government bailouts!
I bring this to everyone’s attention so you can, for yourself, rather than listen to our available media outlets what the Fed has decided to do and how they plan on addressing any future bank issues. I have also included the FDIC links where Failed Banks will be listed. For now we have two , let’s hope it stays that way..
Mixed signals from a number The US Treasury Department and The Fed over the weekend. (Janet Yellen said no help for the depositors of SVB on Saturday) Fed Reversed.
Here are a few links regarding the eye popping news of Bank Failures.
First from the Fed
Here are the rules for the failed banks
Bank Term Funding Program (federalreserve.gov)
The FDIC is where you can get the most recent updated list and what actions they take. Personally when the appoint a new CEO do your research on these people.
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/
https://www.fdic.gov/news/press-releases/2023/pr23019.html
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/signature-ny.html
Now for CPI! It’s tomorrow!
if CPI core services excluding housing is not also improving, the FOMC will have another reason to hike rates by 50 basis points at the March meeting. If some of the lagged effects of past rate hikes are visible release @ 7:30 CDT Tuesday.
FINAL Demand PPI on Wednesday at , you got it, the same time will move the market although it shouldn’t be Brutal.
Thursday Jobless claims! Same bat time same bat station. Also the ECB Rate decision at 8:15 CDT 45 mins after the jobless claims and housing starts, we finish on ST. Paddy’s day! With a Leading indicators number that may be overshadowed by the previous economic releases. Be Careful out there, Plan your trade and trade your plan!
The March Mini SP resumed its rally into a new high earlier this month but was unable to sustain that renewed momentum now in the correction lower the chart is activated downside PriceCounts and quickly completed the first objective and showing signs of stability for a moment
Hot market above is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
PriceCounts – Not about where we’ve been , but where we might be going next!
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 when it comes to Futures Trading.
03-14-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Ahead of NFP this Friday, the below is provided by our friends over at NewSquawk.com
PREVIEW: US nonfarm payrolls (Feb’23) to be released on Friday March 10th at 13:30GMT/08:30EST
Traders will frame the February jobs data in the context of the FOMC’s March 22nd meeting. Chair Powell this week has guided expectations towards a 50bps rate rise at that meeting, and suggested that the FOMC is likely to revise its view of the terminal rate higher.
Accordingly, the bar for further hawkish repricing is higher than the bar for any dovish tweaking to that pricing (the former being likely in the event of an upside surprise, and the latter in the event of a downside surprise).
The reaction will likely be largely premised on the headline and then the wage components. It is also worth noting that expectations for that March meeting will be refined by the CPI data for the month, which is due on March 14th.
EXPECTATIONS: The consensus looks for 203k nonfarm payrolls to be added to the US economy in February (forecast range: 100-325k), with the pace cooling from the 517k added in January. If the consensus is realized, it would be lower than the pace of the 3-, 6- and 12-month averages, at 356k, 349k and 414k respectively. The unemployment rate is expected to be unchanged at 3.4% (range: 3.3-3.5%); the Fed projects that the jobless rate will peak at 4.6% in 2023, although the central bank will update its economic projections at the March 21-22nd confab.
By the way Did you know you can trade EVENT CONTRACTS?
please reach out to your Cannon Trading Inc broker for details.
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 when it comes to Futures Trading.
03-09-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Be ready to trade tomorrow and know what reports are coming and possible implications!
Today we saw a very volatile market with Powell speaking. More to follow tomorrow along with beige book, JOLTS and ADP and if you are an energy trader than you probably already know, its the weekly number that can really move the energy sector.
See full list of the reports below.
By the way Did you know you can trade EVENT CONTRACTS?
please reach out to your Cannon Trading Inc broker for details.
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 when it comes to Futures Trading.
03-08-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
The Busy Week Ahead Fed Chair Jerome Powell is scheduled to deliver the semiannual monetary policy testimony – often called the Humphrey-Hawkins testimony – at 10:00 EST on Tuesday before the Senate Banking Committee and on Wednesday, the same time, at the House Financial Services Committee. International Trade @8:30 am Wednesday ,Jobless claims on Thursday same time and Friday, one of the bigger reports
By the way Did you know you can trade the Daily Options on the ES and other indices? right in your Cannon Trading brokerage account? They are called weekly options with expirations EACH DAY OF THE WEEK! if you have a live CME data feed and pulling in live ES or MES quotes you can access these on your trading platform. please reach out to your Cannon Trading inc broker for details.
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 when it comes to Futures Trading.
03-07-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
NFP ( non farm payrolls) or unemployment report will not come out tomorrow as it normally does on the first Friday of every month, however keep in mind that the anticipated and volatile ISM report will be out tomorrow right at 10:00 o’clock AM Eastern Time.
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 when it comes to Futures Trading.
03-03-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Below are the contracts which are entering First Notice or Last Trading Day for the upcoming month. Be advised, for contracts that are deliverable, it is requested that all LONG positions be exited two days prior to First Notice and ALL positions be exited the day prior to Last Trading Day.
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 when it comes to Futures Trading.
03-02-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
Inflation concerns weigh heavily not only on the markets we trade, discussions with our family, friends and neighbors often include the topic of inflation. It’s an inescapable reality in 2023. This weeks anticipated market movers are inflation gauges or data points the FED uses to guide future policy directives.
Tomorrow we have a number of gauges for the markets to absorb and they are all before 10 a.m. EST. Case -Shiller home price index, Chicago PMI, Consumer Confidence and the Richmond Fed Manu Index. All between 9 and 10 a.m..
Wednesday Fed Governor Kashkari at 9 a.m. followed by PMI Manu Final @ 9:45 ISM and construction spending @ 10 a.m.
Thursday Motor Vehicle Sales (look for a slowdown compared to a hot January) and Jobless Claims at 8:30 EST and Productivity and costs. It’s also a heavy week for US Treasury bill note and bond settlements and auctions.
Friday ISM @ 10 EST and a number of fed Governor speeches beginning @ 110:45 EST through the end of the trading week. No Non Farm Payrolls this week!
Historically, the Senate Banking and the House Financial Services committees hold hearings with the FED Chair Twice a year and February is the month these open mike events are held. Not this year. Although when they do schedule the hearings it may be a little more challenging for FED Chair Powell to rely on Post Black out period discussions since this is normally when the Chairman is invited to the congressional hearings-immediately after FED Rate announcements.
The employment situation for February AKA Non Farm Payrolls won’t be released until Friday, March 10. The February survey reference period ended Saturday, February 18. It takes three weeks to prepare the report. What is normally a first Friday of the month release, will therefore be on the second Friday.
https://www.bls.gov/schedule/2023/03_sched.htm
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 when it comes to Futures Trading.
02-28-2023
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 here in 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 judgement in trading.
What is the PCE report?
Source Bureau of Economic Analysis (latest release): Measures Change in the price of goods and services purchased by consumers, excluding food and energy; Usual Effect ‘Actual’ greater than ‘Forecast’ is good for currency;
Frequency Released monthly, about 30 days after the month ends;
Next Release Mar 31, 2023 FF Notes Differs from Core CPI in that it only measures goods and services targeted towards and consumed by individuals.
Prices are weighted according to total expenditure per item which gives important insights into consumer spending behavior. CPI is released about 10 days earlier and tends to garner most of the attention;
Why Traders Care? It’s the Federal Reserve’s primary inflation measure. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;
Acro Expand Personal Consumption Expenditures (PCE), Consumer Price Index (CPI);
Would you like to hear the PCE numbers and market reaction LIVE tomorrow? Get a trial of breaking news, text alerts and market insight directly on your trading desktop? Start here.
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 when it comes to Futures Trading.
02-24-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
The below commentary about tomorrow’s FOMC minutes is provided by www.NewSquawk.com
FOMC MINUTES (WED): After economic data for January highlighted a hot economy where inflation appears to be sticky, traders will look through the minutes for clues about how the central bank could respond, specifically looking at any commentary that indicates officials have appetite for rate hikes to resume with jumbo increments above 25bps, or even expectations of a higher terminal rate for the cycle. As a reminder, the Fed hiked its FFR by 25bps to 4.5-4.75% at its February meeting, as expected.
The statement said the central bank continues to see “ongoing increases” in the Fed rate as being appropriate, coming against some expectations that the line could be dropped in order to give optionality for a lower terminal rate than the 5-5.25% median dot in the December SEPs. While that didn’t happen, we did see a switch in language on guidance from the “pace of future increases” to the “extent of future increases,” suggesting that debate is moving from the size of hike increments to how many hikes remain in the cycle, a dovish offset to the continued use of “ongoing increases”. Elsewhere in the statement, the Fed acknowledged that inflation had eased
somewhat, but remained elevated. Chair Powell sat on the fence on many topics he was asked about in his postmeeting press conference, rather than cut off his options.
The Fed Chair confirmed that the disinflation process was underway, albeit he was eager to highlight that core services inflation, ex-housing, had not shown progress. He believes that policy is still not ‘sufficiently restrictive’, but left optionality by stressing data dependence, later saying that it is possible that the Fed updates its policy path if the data came in differently to what it expects. Powell said the Fed has not yet made a decision on the terminal rate, and that it will look at the data between now and the March SEPs.
The Fed chief sees a path to getting inflation to 2% without significant economic decline, though it could take more slowing in the economy than it expects.
The below commentary about tomorrow’s FOMC minutes is provided by www.NewSquawk.com
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 when it comes to Futures Trading.
02-22-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
President’s Day is this Monday. Below you will see a summary of trading hours, click here for full schedule.
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 when it comes to Futures Trading.
02-16-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
General:
While yesterday’s U.S. Consumer Price Index showed inflation continues to slow from its readings in 2022, CPI readings, the pace of declined slowed and a wide array prices stayed elevated, including food, clothes (women’s apparel dropped slightly), rent and hotel rooms. Once again, a key economic report has shown that the road back to 2.0% inflation, on which the Federal Reserve is committed to following, is going to be lengthy and rugged. It certainly leaves Fed in a hawkish posture.
Be alert: the release of the Bureau of Labor Statistics’ Producer Price Index is on deck for tomorrow. The report comes out at 7:30 A.M., Central Time.
Markets:
Metals:
Gold (April) has declined ±$130 (a ±$13,000 move) since its Feb. 1 intraday high of $1,970.80 / oz. Today’s $1839.30 intraday low sets it back to prices not seen since the first of the for the calendar year.
Corn:
For most of the last few months, U.S. corn prices have justifiably focused on crop conditions, including obviously yield and quality, in Argentina and Brazil, which have continually come in far from ideal. As a result, the markets have priced in current and further crop damage coming into the South America harvest. That’s about to shift with the start of the crop year here in the U.S. Forecasts for planted acreage, demand, ending stocks, stocks/usage ratio – all tracked by the USDA and sized up by traders – are about to take center stage. As crops from the southern hemisphere are “made,” if little or no further surprises hit, look for CBOT corn prices to settle in for news of this year’s U.S. crop, starting with Prospective Plantings late next month.
Despite the uneven decline of crude oil prices over the last 8 months from their ±$105 per barrel highs of last June (basis March) down to a few recent forays to the low 70’s per barrel, crude oil looks to still be focused on growing Chinese demand. As we approach the traditional U.S. driving season in May, look for recent lows as meaningful signs of support.
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 when it comes to Futures Trading.
02-14-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
*Dates and times are subject to change
If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010
More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html
Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours
The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.
By John Thorpe, Senior Broker
Get Ready! not 1, Not 2 not even 3 CPI reports this week. Tis’ the season for western Govt CPI reporting and none more impactful than the US CPI number to be released at 7:30 PST Tuesday Morning. The Swiss did it Monday morning. The Brits are doing it Wednesday morning, The French release on Friday afternoon. Here is Econoday.com’s Consensus for the U.S. number . Remember, Deviations from consensus drive volatility because the assumption is, consensus is already baked into the market.
Outlook
January’s monthly core rate is expected to hold at December’s as-expected and moderate 0.3 percent. Overall prices are expected to rise 0.5 percent to offset December’s 0.1 percent decline. Annual rates, at 6.5 percent overall in December and 5.7 percent for
The core, are expected to moderate to 6.2 and 5.5 percent. These data releases have roiled the markets in near unprecedented fashion recently directly tied to the interest rate tightening cycle we have been in for 3 quarters. The rest of the week we have a full slate of economic releases, anyone of which will move markets, some longer than others. For example US Retail sales and Industrial Production, Thursday Housing Starts, Jobless claims, Philly Fed and US:PPI Final demand. be alert!
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 when it comes to Futures Trading.
02-14-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
On the lighter side ahead of tomorrow’s anticipated Prelim University of Michigan Consumer Sentiment
The below is what you see when you enter our office in West Los Angeles!
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 when it comes to Futures Trading.
02-10-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
General:
It’s a safe statement to make that the U.S. economy remains a quandary of conflicting signs. Growth is slowing in areas like housing and manufacturing, Americans are beginning to tamp down on spending and inflation is beginning to normalize. Last Wednesday, the Federal Reserve’s eighth straight interest rate hike was the smallest since its fight against inflation commenced last March.
At the same, the labor market remains formidable. On Friday, data released from the U.S. Bureau of Labor Statistics showed the economy added 517,000 jobs – shattering expectations – and the unemployment rate dropped to 3.4 percent, a low not seen since May 1969.
Yesterday, during a question-and-answer session with David Rubenstein of the Economic Club of Washington, Mr. Powell reiterated the Fed’s outlook that the bank has more work to do and
that “the disinflationary process has begun,” the strong labor market is an example of why steering the economy to “this will be a process that takes a significant period of time.”
It shouldn’t be surprising to traders – particularly equity index, currency, financial and even metals traders – if volatility remains elevated for a comparable “significant period of time.”
Softs:
Sugar traded to six-year high of 21.86 intraday (basis March) last Wednesday, 2/1 and is trading ±.50 below there as of today’s close. The latest Commitments of Traders update shows a heavy net long position of >170K contracts – an exceptional measure of upside risk and likely a precursor to expanded volatility.
Orange Juice has advanced ±50 cents (a ± $7,500 move) over the last dozen trading sessions – including back-to-back limit-up moves of 10 cents last Tuesday and Wednesday – to new all-time highs near $2.58/pound. A Jan. U.S. Dept. of Agriculture report that orange production in Florida would be over half compared to the prior season is propelling the upward move.
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 when it comes to Futures Trading.
02-09-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
On an otherwise quiet week for economic releases and the FRB Federal Reserve Bank’s quiet period or Blackout period over, The Fed members are again, free to entertain speaking engagements. If you remember last week, Chairman Powell and the FOMC (Federal Open Market Committee) announced the expected .25 rate hike.
On Tuesday, February 7th @ 12:40p.m. EST, Fed Chair Jerome Powell is slated to appear at the Economic Club of Washington D.C., and may give investors and retail traders a preview of his semi-annual report to Congress later this month. Powell may also update his outlook given the January employment number surprise was released after the FOMC rate decision. Of note, Last Friday marked the halfway mark in the earnings season as 250 of the S&P 500 stocks finished reporting their earnings. Of course we have another leg to go as we turn the corner and look for few ,if any earnings surprises across the board as lowered expectations have been baked into the market already. On the jobs front we do have a jobless claims report, pre market on Thursday at 7:30 a.m. CST. Finally for the week, The President’s State of the Union address is tomorrow night @9 P.M. EST, 8 P.M. CST. Although you should be able to view his speech on any of your favorite news outlets, we don’t expect any market changing announcements of substance. Be on the ball if there is.
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 when it comes to Futures Trading.
02-07-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Curious on an indicator that can help you with EXITS? How about using a certain indicator as a trailing stop?
Watch the latest trading videos we have posted and see if you can pick a tip or two on trading smarter!
In this week’s newsletter we are sharing four videos, each a few minutes long. The videos discuss practical tips for trading and sharing our experience with you
1. Using Bolinger Bands as a possible tool for exiting trades
2. One way you can use the Parabolics study ( also known as PSAR) to manage current positions, possibly as a trailing stop
3. Different ways traders can utilize support and resistance levels in their trading.
4. Entering trades on a stop, using “price confirmation”.
5. Utilizing Range Bar charts for shorter term trading as a way to try and filter out some noise.
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 when it comes to Futures Trading.
02-03-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
General: albeit the eighth straight interest rate hike by the Federal Reserve since last March, today’s 25-basis point increase was the smallest move of the streak – with its target range now set to 4.5 – 4.75 percent. In its policy statement, Central Bank officials signaled that while “inflation has eased somewhat,” the fight against inflation has not come to an end and that the Fed “will stay the course until the job is done.” Translation: more hikes are on the way.
Yesterday, the International Monetary Fund raised its 2023 global growth outlook slightly, from their last projected contraction to 2.9% form 2022, to a slightly less discouraging 2.7%. They pointed to “surprisingly resilient” demand in the United States and Europe, an easing of energy costs and the reopening of China’s economy after Beijing abandoned its strict COVID-19 restrictions.
Tomorrow the European Central Bank will meet to determine their own next move in that region’s battle against inflation. They’re almost certain to notch rates up another 50 basis points up to 2.5 percent on their deposit facility, as it’s termed. And similar to the attention paid to Fed chair Jerome Powell’s words, all ears will be honed in on ECB President Christine Lagarde’s communications on the central bank’s guidance and future decisions.
All this is taking place amidst the backdrop of slight improvements in U.S. and Chinese economic expectations. One could make the case that the green shoots indicating signs of improvement for the economy mentioned in the Jan. 18 blog at the very least haven’t withered.
And speaking of not withering, while the outlook for the South American soybean crop remains a concern, traders have started removing the weather premium from prices.
This could contribute to an asset-wide decline in volatility and leave markets prone to trending – up or down.
A Cannon broker will be able to assist, provide feedback and answer any questions.
Chart below is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
PriceCounts – Not about where we’ve been , but where we might be going next!
March mini SP 500 possible PriceCounts Scenario below
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
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 when it comes to Futures Trading.
for 02-02-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Tomorrow is Wednesday, the first trading day in February 2023 as well as FOMC day.
To add some fuel to the fire, we will have ADP, JOLTS and ISM PMI earlier in the day as well as crude oil numbers!!
Busy day to say the least……
The market is expecting a hike of 25 basis points.
4111 is a MAJOR resistance level for the March SP 500.
Trading on FOMC days
The following are my PERSONAL suggestions on trading during FOMC days:
· Reduce trading size
· Be extra picky = no trade is better than a bad trade
· Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 3925.00 with a stop at 3919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 3919.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).
· Expect the higher volatility during and right after the announcement
· Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
· Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
· Keep in mind statement comes out at 1 Pm Central time, the news conference which dissects the language comes out 30 minutes later so the volatility window stretches out.
· Know what the market was expecting, learn what came out and observe market reaction for clues
· Be patient and be disciplined
· If in doubt, stay out!!
A Cannon broker will be able to assist, provide feedback and answer any questions.
Chart below is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
PriceCounts – Not about where we’ve been , but where we might be going next!
The July -Dec Corn spread is extending it’s rally into new highs where the chart is taking aim at its first upside priceCount objective near 92 cents. Curious about spreads? Read more here.
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
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 when it comes to Futures Trading.
for 02-01-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
A week full of potentially market-moving events, from decisions on interest rates around the world to earnings reports from the biggest U.S. companies. Markets have been veering recently on worries that the economy and corporate profits may be set for a steep drop-off, along with competing hopes that cooling inflation will get the Federal Reserve to take it easier on interest rates.
The central bank’s next decision on rates is coming Wednesday, and most investors expect it to announce an increase of just 0.25 percentage points. That would be the smallest increase since March, following a spate of hikes of 0.75 points and then a 0.50-point increase, and it would mean less added pressure on the economy. The big question is whether Fed Chair Jerome Powell on Wednesday afternoon will give markets what they want to hear — hints that rate hikes will end soon and rate cuts may even be possible late this year — or stick to the Fed’s mantra that it plans to keep rates higher for longer, even if a modest recession hits.
Central Banks for the U.K. and Europe are also set to announce the latest increases this week. In addition more than 100 companies are scheduled to announce this week , Tech heavy’s Apple, Amazon and Alphabet to name a few and weight the S&P 500 Index the heaviest at weeks end we have Non Farm Payrolls whose expectations are characterized here at www.econoday.com Released On 2/3/2023 8:30:00 AM For Jan, 2023
Plan your trade and trade your Plan
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 when it comes to Futures Trading.
for 01-31-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Core PCE tomorrow. While not expected to move the markets like PPI and CPI, we still may see some volatility.
Personal income is expected to edge 0.2 percent higher in December with consumption expenditures expected to decrease 0.1 percent. These would compare with respective November gains of 0.4 and 0.1 percent. PCE inflation readings for December are expected at no change overall and up 0.3 percent for the core (versus respective gains of 0.1 and 0.2 percent) for annual rates of 5.0 and 4.4 percent (versus November’s 5.5 and 4.7 percent).
Plan your trade and trade your Plan
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 when it comes to Futures Trading.
for 01-27-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
Grains / Soy complex: For Soybeans and corn interests, many eyes are on South America, where because their crop year runs counter to here in the U.S., large producers like Argentina and Brazil are approaching harvest. Brazil is set for a bumper soybean crop. Argentina is experiencing drought conditions which are more adversely affecting their corn crop than their soybeans. Traders believe the soybean crop can recover more significantly from the heat and drought as compared with the corn crop.
Gold & Silver: precious metals analysts often look to ETF holdings for guidance on gold and silver futures prices, eyeing inflows and outflows for developing patterns. To wit, both gold and silver ETF holdings are sitting above their levels at the start of the year
Energy: Crude oil traded to a 4-day low this A.M. The likely catalyst could be Chinese energy demand, which seems to be linked to COVID infection rates in that country, whish show little signs of peaking yet. Support at $80.00 per barrel (March contract) looks vulnerable unless we see some confirmation of improving conditions inside China.
Plan your trade and trade your Plan
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 when it comes to Futures Trading.
for 01-26-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
“The Week Ahead” next F.O.M.C. meeting is to be held Next Tuesday and Wednesday Jan. 31st – Feb . 1 as such we have entered the FOMC Board of Governors Blackout time frame. As discussed previously, no members may discuss policy until the rate announcement on Feb. 1st. so there shouldn’t be too many surprise moves that occur in the financial markets usually generated from speaking engagement commentary. Fed Chairman Powell had tested positive for Covid19 but is expected to attend the meeting either in person or remotely as his symptoms are mild.
Of note this week is Q4 GDP on Thursday @ 7:30 am CST and perhaps jobless claims for the week at the same time. This, if a surprise, could shake the financial markets a bit in the short run. Earnings will be the main cause of market movement until next weeks FED Meeting. The Busy Calendar includes Microsoft Tesla, IBM, Intel, American Airlines, Valero, Chevron and Haliburton. This is the Golden Week as China is celebrating it’s lunar New Year, the impact on volume may or may not be seen in some markets but not all. Plan your trade and trade your Plan
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 when it comes to Futures Trading.
for 01-24-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Many different factors go into trading. Too many to discuss efficiently in one blog post. Some relate to trading techniques, other to money management, mental aspect, risk capital and much more.
But one that sticks in my eyes is the inability to accept a loss. I see many clients who can make money and have days where they make money but when they lose, they lose much more, sometimes even losing control and losing a big portion of their account.
I am not sure how a trader can embed this into their trading mind, BUT in my opinion if you train your brain to expect losses, understand losses and that losing days will happen, you will increase your chances of surviving in this business, which in return will actually give you a chance to succeed….
Losses are part of trading and as long as your losses are part of the plan and are quantified in advance and you can adhere to your rules, then you have a chance. I think it’s easy when traders are winning…making money etc. Much harder when you lose or down. your brain starts playing tricks on you…it tells you to double down, maybe reverse even though your analysis does not say so….all of a sudden you start pulling trades out of instinct, fear rather than a calculated plan that has solid risk/ reward.
If a trader learns how to lose, to accept losses, to have realistic expectations, then he/ she can avoid having one of those terrible days when traders can lose almost of all their account.
Also, while a bit easier in my mind, a day trader should also step away when he/she reached a predefined profit target for the trading day. In my humble opinion, the more you day trade, the more fatigued you become and larger chances for errors. Somewhat like a pro basketball player managing their playing minutes….
I went into this subject and detailed day-trading money management in an article I wrote a few years back for SFO magazine.
Click here to read the rest of the Article
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 when it comes to Futures Trading.
for 01-20-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
General: Even in the face of solid COVID uncertainty for China, a persistent fear that the Fed will overtighten and that a recession is looming here in the U.S., there are some green shoots (thank you to former U.K. Chancellor of the Exchequer Norman Lamont for coining that term back in ‘91) to indicate signs of improvement for the economy, including growing sentiment that the beginning of the end for rising interest rates – and inflation – is on the horizon.
Take commodity prices for example.
Several that are in tight supply are now responding by tracking higher as a result of modest improvements in demand for their manufactured products. Copper prices – historically viewed as a leading indicator – are up over 30% in the last six months, including a ±14% increase this month so far. Silver is up ±25% since Sept. to year-ago prices around $24/oz. Crude oil has pressed upwards above ±$80/barrel, ±$10 higher this month and on par with prices from last Feb.
At the same time, these higher prices for industrial products have helped keep inflation readings – CPI, PPI notably – stubbornly high with only slight signs of downward movement in the last few releases. This is almost certainly narrowing the runway on which the “Fed Pivot” will eventually use to try landing the economy as softly as possible this year.
Energies: Heads up! As opposed to most weeks when they’re released on Wednesday and Thursday, this week’s Energy Information Agency reports on natural gas storage and crude oil supplies will be released on the same day: tomorrow at 9:30 A.M. and 10:00 A.M., Central Time, respectively. That’s natural gas storage first, followed by crude oil supplies. The Martin Luther King Day holiday effected this schedule change.
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 when it comes to Futures Trading.
for 01-19-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Here is a link of a video I took last week during CPI that shows the “vacuum” and much lower liquidity traders need to be aware of.
Trading Resource of the Week – “Trading Around Key Economic Reports” FREE Course
In this “Trading Around Key Economic Reports” FREE Course you will learn:
· What is CPI?
· About the Retail Sales Report
· What is NFP ( non farm payroll) Report?
· Understanding US housing Data
· FOMC
· Understanding Oil Data Report
· Importance of Consumer Confidence Survey
Expand Your Trading Knowledge NOW!
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 when it comes to Futures Trading.
for 01-18-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Please see abbreviated trading hours HERE and summary below.
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 when it comes to Futures Trading.
for 01-13-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
New Crop Kansas City Wheat to head lower?? WASDE Thursday may provide more clues.
PriceCounts – Not about where we’ve been , but where we might be going next!
Please contact a Cannon Broker if you have any questions about trade strategy, set-ups and risk management techniques as we start the new year! Plan your trade and trade your plan.
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
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 when it comes to Futures Trading.
for 01-10-2023
#ES_F, #NQ_F, #YM_F, #RTY_F, #XBT_F, #GC_F, #SI-F, #CL-F, #ZB_F, #6E_F, #ZC_F, #ZW_F, #ZS_F, #ZM_F, #NG_F
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 here in 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 judgement in trading.
*Dates and times are subject to change
If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010
More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html
Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours
The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.
By John Thorpe, Senior Broker
The most volatile event this week off the economic data calendar will almost certainly be the December CPI at 7:30 CST on Thursday. The core CPI was up 6.0 percent in November, coming down from its near-term peak of up 6.6 percent in September.
The total CPI was up 7.1 percent year-over-year in November and has been on the decline since the near-term peak of up 9.1 percent in June.. It is expected that the December report will see a little more easing in upward inflationary price pressures. https://www.bls.gov/cpi/
In the agriculture sector, this week highlights the WASDE USDA Crop Production, Supply/Demand and winter wheat seedings all following suit on Thursday at 11:00 am CST. Although North American crop land is experiencing winter weather it is summer time in South America and we will get meaningful numbers from Brazil and Argentina row crop production in this World Ag Supply and Demand Estimate. https://www.usda.gov/oce/commodity/wasde
Please contact a Cannon Broker if you have any questions about trade strategy, set-ups and risk management techniques as we start the new year! Plan your trade and trade your plan.
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 when it comes to Futures Trading.
for 01-10-2023
#ES_F, #NQ_F, #YM_F, #RTY_F, #XBT_F, #GC_F, #SI-F, #CL-F, #ZB_F, #6E_F, #ZC_F, #ZW_F, #ZS_F, #ZM_F, #NG_F
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
“I don’t think anyone knows whether we’re going to have a recession or not, and if we do, whether it’s going to be a deep one or not,” Jerome H. Powell, the Fed chair, said during his FOMC news conference back in mid-December. “It’s not knowable.”
And with this in mind, it’s not far-fetched to expect the markets that have been most disrupted in recent years will to continue to ricochet in 2023.
Policymakers will continue to try to guess what lies ahead and they’ll continue to make predictions by looking at historical data, which has always been critical to those who make those predictions. Flying in the face of that approach is that over the last three years – roughly the duration of the pandemic – the past is proving anything but a reliable guide.
The economy rebounded from the hit it incurred at the onset of the coronavirus – faster and stronger than expected. Then, shortages of goods collided with strong demand and fueled a burst in inflation, one that has been both more extreme and more stubborn than anticipated.
Now, we have a year in which the Federal Reserve raised interest rates at the fastest pace since the 1980’s – in their efforts to slow growth and bring those rapid price increases back under control. The war in Ukraine has and will almost certainly continue to impact energy and grain prices. And with China’s Covid policy charting an unclear future for the world’s second largest economy, the future is still extraordinarily uncertain.
Will the Fed’s policies spur a recession? Or, will the economy gently cool down, taming high inflation in the process? How will commodity prices react? Commodities futures traders, Central bankers, economists, the current administration’s officials all will be trying to guess what might lie ahead for the economy in 2023.
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 when it comes to Futures Trading.
for 01-05-2023
#ES_F, #NQ_F, #YM_F, #RTY_F, #XBT_F, #GC_F, #SI-F, #CL-F, #ZB_F, #6E_F, #ZC_F, #ZW_F, #ZS_F, #ZM_F, #NG_F
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 here in 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 judgement in trading.
We started out 2023 with a bit better volume across the board and some large moves across different markets.
Still not the volume we saw in the first week of December but as large traders return from holidays the volume will pick up.
We have a busy day tomorrow!
ISM PMI
JOLTS
FOMC Minutes.
If anyone has holidays “hangover” tomorrow should cure that out as I expect some larger moves and higher volatility.
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 when it comes to Futures Trading.
for 01-04-2023
#ES_F, #NQ_F, #YM_F, #RTY_F, #XBT_F, #GC_F, #SI-F, #CL-F, #ZB_F, #6E_F, #ZC_F, #ZW_F, #ZS_F, #ZM_F, #NG_F
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 here in 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 judgement in trading.
From the CME Globex Control Center, executive summary:
Fri. Dec. 30 = ALL NORMAL closes
Mon. Jan. 2 – DAY = ALL GLOBEX CLOSED
Mon. Jan. 2 – EVENING = NORMAL opening and pre-opening for all,
(except grains and livestock = pre-open and open on Tues. morning)
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 when it comes to Futures Trading.
for 12-30-2022
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 here in 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 judgement in trading.
Tomorrow we have weekly unemployment claims.
Natural gas numbers at 9:30 Am central followed by Crude Oil numbers at 10 AM central.
Volume is LIGHT so large orders can move the markets and at times exaggerate moves.. Mini SP avg last few weeks was over 2.2 million contacts per day, today only 1.1 mil so 50% of the volume…
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 when it comes to Futures Trading.
for 12-29-2022
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 here in 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 judgement in trading.
We wish you all a safe and joyous holiday!!
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 when it comes to Futures Trading.
for 12-28-2022
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 here in 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 judgement in trading.
Christmas 2022 Trading Schedule
We wish you all a safe and joyous holiday!!
From the CME Globex Control Center, executive summary:
Fri. Dec. 23 = ALL NORMAL closes
Mon. Dec. 26 (day) = CLOSED, all mkts.
Mon., Dec. 26 (night) = NORMAL opening and pre-opening for all – EXCEPT grains and livestock remain closed.
Tues., Dec. 27 = grains and livestock 8:30 a.m. market re-opening.
Please contact your broker if you have any questions about your positions. And remember, the next front month for these contracts – March – is already well traded and available.
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 when it comes to Futures Trading.
for 12-23-2022
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 here in 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 judgement in trading.
Nearly 10 million contracts traded and counting
For the past five years, Bitcoin futures have provided a regulated, transparent marketplace for cryptocurrency derivatives trading, all backed by CME Group’s time-tested financial safeguards.
Since launching in 2017, Bitcoin futures have seen notable growth in volume, open interest and customer participation, paving the way for additions to CME Group’s market-leading Cryptocurrency product suite in 2022 – including options on Micro Bitcoin and Micro Ether futures, 21 new CME CF cryptocurrency benchmarks (most recently on three more DeFi tokens), and more.
Looking to learn more about Bitcoin futures?
Please contact your broker if you have any questions about your positions. And remember, the next front month for these contracts – March – is already well traded and available.
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 when it comes to Futures Trading.
for 12-22-2022
#ES_F, #NQ_F, #YM_F, #RTY_F, #XBT_F, #GC_F, #SI-F, #CL-F, #ZB_F, #6E_F, #ZC_F, #ZW_F, #ZS_F, #ZM_F, #NG_F
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 here in 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 judgement in trading.
Busy day tomorrow: Existing home sales @9:00 am CDT
Consumer Confidence @ 9 AM CDT as well
Energy numbers at 9:30 AM central.
If you like to trial audio news service, we have special pricing and offer for Cannon’s clients and prospects!
The equivalent of a financial police radio, TradeTheNews.com covers economic numbers, interest rate decisions, stock up/down grades, rumors, central banker speak, energy news, terrorism, geopolitical developments and natural disasters in real-time.
Christmas 2022 Trading Schedule
Please contact your broker if you have any questions about your positions. And remember, the next front month for these contracts – March – is already well traded and available.
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 when it comes to Futures Trading.
for 12-21-2022
#ES_F, #NQ_F, #YM_F, #RTY_F, #XBT_F, #GC_F, #SI-F, #CL-F, #ZB_F, #6E_F, #ZC_F, #ZW_F, #ZS_F, #ZM_F, #NG_F
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
A full week of trading!
Before I get into the market moving events for the week I would be remiss if I didn’t mention holiday light volume going into this weekends 3 day weekend. The best times to trade will be around the openings and closings while sprinkling in a few post report time frames.
The Housing market and GDP highlight this weeks market movers. Tuesday 7:30 am CST Housing Starts. Wednesday Existing home sales @9:00 am CST And Friday , same time New Home Sales.
Smattered in between we have Consumer Confidence On Wed @ 9 AM CDT , GDP on Thursday @ 7:30 CDT PREMARKET, this should be a big mover if it’s off the mark. Friday two more premarket numbers that could create the last volatility for the day and exhaust the energy for the week in the equity markets, they are Durable goods orders and personal income both at 7:30 CDT and will give the FED more information relative to efficacy of their current fed policy objectives.
Christmas 2022 Trading Schedule
Please contact your broker if you have any questions about your positions. And remember, the next front month for these contracts – March – is already well traded and available.
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 when it comes to Futures Trading.
for 12-19-2022
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 here in 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 judgement in trading.
START TRADING MARCH CURRENCY FUTURES AS WELL!
Heads up traders:
Triple Witching is near. For those of you trading stock index futures – any size S&P 500, Nasdaq, Dow Jones, Russell 2000 – remember that this Friday at 8:30 A.M. Central Time, those contracts’ December futures expire and will no longer be available for trading. If you happen to hang on to any Dec. contracts past that time, they will automatically be offset via the cash settlement price of that contract. For you stock index futures options traders, if you to hang on to any Dec. options, the cash settlement price will determine whether your options are in or out of the money, in which case they will either expire worthless or be instantly exercised/assigned, valued and offset by the cash settlement price. Stock options also expire this Friday, thus the triple witching expression (no supernatural phenomena will appear at this time).
Final Settlement Procedures
Quarterly settlement of S&P 500, E-mini S&P 500, S&P MidCap 400, E-mini S&P MidCap 400, S&P 500 Citigroup/Growth and Value and SPCTR Index futures and options on futures are based on a Special Opening Quotation of the relevant underlying index. The Special Opening Quotation for each index is based on the opening price of each component stock in that index on expiration Friday.
Special Opening Quotations (SOQ) generally differ from the opening index value of each index because all stocks do not open immediately. For example, on typical days surveyed by CME Group, most S&P stocks open quickly, with around 95% open within 15 minutes and 98% open within 30 minutes. Other indexes with larger numbers of stocks may take longer to open.
Please contact your broker if you have any questions about your positions. And remember, the next front month for these contracts – March – is already well traded and available.
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 when it comes to Futures Trading.
for 12-16-2022
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 here in 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 judgement in trading.
ROLL to MARCH 2023 equity contracts as we are seeing more volume in the March Contracts than in the December ones the symbol for March is H so a micro e-mini S&P contract will be MESH23. Thursday we get Jobless claims, Retail sales and Industrial production.
The following are my PERSONAL suggestions on trading during FOMC days:
· Reduce trading size
· Be extra picky = no trade is better than a bad trade
· Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 3925.00 with a stop at 3919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 3919.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).
· Expect the higher volatility during and right after the announcement
· Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
· Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
· Keep in mind statement comes out at 1 Pm Central time, the news conference which dissects the language comes out 30 minutes later so the volatility window stretches out.
· Know what the market was expecting, learn what came out and observe market reaction for clues
· Be patient and be disciplined
· If in doubt, stay out!!
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
for 12-14-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Feb. Gold #GC_F March Silver #SI_F Jan. Crude Oil #CL-F March Bonds #ZB_F March 10 yr #ZN_F March Corn #ZC_F March Wheat #ZW_F March Beans #ZS_F March SoyMeal #ZM_F Jan. Nat Gas #NG_F March Coffee #KC_F March Cocoa #CC_F March Sugar #SB_F March Cotton #CT_F March Euro Currency
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
A Volatile week ahead.. CPI, FOMC, and Thursday, a number of market movers : Take Note: this is Rollover week for the Equities!
The Consumer Price Index release has been a boom or bust for many accounts and there are very few reasons to expect the November reading to create any less price movement in the Equities, Interest rate products, Currencies and Precious metals markets. 12/13, tomorrow morning at 7:30 CST sharp this report will be released! Year over Year CPI is expected to be tempered a little and come in @ 7.3% compared to 7.7% last month. Remember expectations are baked into current futures prices. FOMC meets this week and will announce it’s final fed funds policy move for 2022. The rate decision will be on 12/14 Wednesday at 1 P.M. CDT promptly and the news conference with Fed Chair Jerome Powell at 1:30 P.M. CDT to follow. ROLL to MARCH 2023 equity contracts as today is the first day we are seeing more volume in the March Contracts than in the December ones the symbol for March is H so a micro e-mini S&P contract will be MESH23. Thursday we get Jobless claims, Retail sales and Industrial production.
I recommend the sideline tomorrow morning at 5:30 CDT and at 11:30 CDT on Wednesday for the CPI and FOMC numbers. We/you can’t determine the strength of the initial move then the capitulation with any certainty at all during these events. As always , plan your trade and trade your plan
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
for 12-13-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Feb. Gold #GC_F March Silver #SI_F Jan. Crude Oil #CL-F March Bonds #ZB_F March 10 yr #ZN_F March Corn #ZC_F March Wheat #ZW_F March Beans #ZS_F March SoyMeal #ZM_F Jan. Nat Gas #NG_F March Coffee #KC_F March Cocoa #CC_F March Sugar #SB_F March Cotton #CT_F March Euro Currency
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
There’s an analogy drawn from military strategy to trading strategy that’s worth noting. It’s origin dates to the 1890’s and a German field marshal, but the more well-known versions come from Winston Churchill and Dwight D. Eisenhower. Churchill said, “Plans are of little importance, but planning is essential,” while Eisenhower said, “Plans are worthless, but planning is everything.” The eminent military strategist Mike Tyson advanced this view of planning with what might be his most famous quote: “Everyone has a plan until they get punched in the mouth.” The take-away from these words: nothing fully prepares you for trading like actual trading. Similar to going to battle, or in Mr. Tyson’s case, getting into a boxing ring, in trading you can plan all you want, i.e., paper trade, or trade with a demo version of a trading platform and a hypothetical account balance, but no amount of time dedicated to these activities will satisfactorily develop your capacity for trading. Trading with a live, real money account will impact your mood, your judgement, your market opinions, your wits like no amount of mock trading will. This is not a prodding to do anything you’re not ready to do. Just don’t count on paper trading or demo trading to look like real trading. That is a whole distinct undertaking.
MICROS may be a good tool for some traders to step from demo to live, to test different strategies and in general when volatility is high, trading capital is low etc.
PPI Tomorrow!
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
for 12-09-2022
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 here in 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 judgement in trading.
*Dates and times are subject to change
If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010
More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html
Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours
The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.
*Dates and times are subject to change
If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010
More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html
Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours
The above sources were compiled from sources believed to be reliable. Cannon Trading 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 closing times for certain contracts may have been rescheduled.
By Mark O’Brien, Senior Broker
Energy:
After starting the year near $72 per barrel, by June, West Texas crude oil (Jan. ’23 futures contract) climbed to its highs above $108 per barrel. Today, Jan. crude oil traded to an intraday low of $71.75, a ±$36 per barrel (±$36,000) leap and fall.
Not to be out don’t, after breaching $10.00 per million British thermal units in early August, natural gas traded below $5.34 intraday yesterday, a whopping ±46% cut in the asset’s value and a ±$46,000 move for a single futures contract (Jan. ’23 futures contract).
Metals:
Albeit experiencing a slight correction this week so far, gold (Feb. ’23 futures contract) managed to hold nearly all of its ±$170 rally through $1,800 per ounce off its multi-year lows of early November near $1,635 per ounce – a ±$17,000 move in one month.
Announcements:
Keep an eye on the calendar for important U.S. government reports this Friday, starting with the Labor Department’s release of its Producer Price Index showing the cost of wholesale goods and services. The reading reflects what companies pay for supplies such as grains, fuel, metals, lumber, packaging and so forth. This is a key inflation gauge in the midst of four-decade high wholesale prices. Release time: 7:30 A.M., Central Time.
Also on Friday, the USDA will release its Crop Production Report along with its World Supply/Demand report (likely the more critical). It’s delivered at 11:00 A.M., Central Time.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
for 12-08-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Feb. Gold #GC_F March Silver #SI_F Jan. Crude Oil #CL-F March Bonds #ZB_F March 10 yr #ZN_F March Corn #ZC_F March Wheat #ZW_F March Beans #ZS_F March SoyMeal #ZM_F Jan. Nat Gas #NG_F March Coffee #KC_F March Cocoa #CC_F March Sugar #SB_F March Cotton #CT_F March Euro Currency
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
Fed refers to it as a “Blackout Period.”
Federal Reserve policy limits the extent to which FOMC participants and staff can speak publicly or grant interviews during Federal Reserve blackout periods, which begin the second Saturday preceding a Federal Open Market Committee (FOMC) meeting and end the Thursday following a meeting.
The current “Blackout Period” is December 3rd through December 15th.
Of particular note this week, Pay attention to Jobless Claims on Thursday and Price Index PPI Final Demand on Friday. Both reports will be disseminated @ 7:30 CST pre equity market open, as usual. Keep your trading journal up to date; Plan your trade and trade your plan.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
for 12-06-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Feb. Gold #GC_F March Silver #SI_F Jan. Crude Oil #CL-F March Bonds #ZB_F March 10 yr #ZN_F March Corn #ZC_F March Wheat #ZW_F March Beans #ZS_F March SoyMeal #ZM_F Jan. Nat Gas #NG_F March Coffee #KC_F March Cocoa #CC_F March Sugar #SB_F March Cotton #CT_F March Euro Currency
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 here in 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 judgement in trading.
Join our private Facebook group for additional insight into trading and the futures markets!
Weekly Levels
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
NFP – Non farm Payrolls tomorrow. This is a market moving economic reports and the last few months we have seen some very SHARP moves right around the number. Be prepared!
Below are the contracts which are entering First Notice or Last Trading Day for the upcoming month. Be advised, for contracts that are deliverable, it is requested that all LONG positions be exited two days prior to First Notice and ALL positions be exited the day prior to Last Trading Day.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
for 12-02-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Feb. Gold #GC_F March Silver #SI_F Jan. Crude Oil #CL-F March Bonds #ZB_F March 10 yr #ZN_F March Corn #ZC_F March Wheat #ZW_F March Beans #ZS_F March SoyMeal #ZM_F Jan. Nat Gas #NG_F March Coffee #KC_F March Cocoa #CC_F March Sugar #SB_F March Cotton #CT_F March Euro Currency
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 here in 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 judgement in trading.
Start trading March grains, March silver, March bonds and other interest rates, February gold. First notice day is Wednesday.
Tomorrow is also the last trading day of the month – busy day with different reports and Fed’s Powell speaking..
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
for 11-30-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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 here in 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 judgement in trading.
By John Thorpe, Senior Broker
You’ll often hear us say ‘plan your trade and trade your plan’.
I’ll add to that “and keep a detailed Trading Journal or Trading Diary”.
There are a number of important ways you can develop as a trader by documenting and reviewing your daily trading activity.
Date and time
Position size ( in notional value relative to your account size)
Details of the transaction, Long or Short, entry price, risk management used (stop, option or spread) trade outcome. Keep notes of specific market behavior during times like holiday trading, specific reports ( CPI, NFP etc.)
Record your why, your rationale for the trade. Record your emotional state (well rested, anxious, excited) Was it a busy day?, did you monitor the trade?, did you go to the gym?, did you leave for a few hours? Why did you close the trade? Did you get nervous? Was the market beginning to change complexion?
Setting aside time to review your journal once a week is highly recommended to gain the maximum use out of the experience. A trading journal or Trading Diary is not just about the initial documentation, but the review is what will create a better understanding of triggers, both good and bad that you can learn from and improve your trading strategy for years to come.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
for 11-29-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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 here in 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 judgement in trading.
1-800-454-9572
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