Support & Resistance Levels

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.

Reading the Dealer Gamma Map PLUS: Pre-Market Briefing, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on July 23rd, 2026

9dc1e02e d5f7 4ff4 abf7 1df60775f196

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

4039.57 4088.53 4129.97 4178.93 4220.37

Silver (SI)

— Sept. (#SI)

57.83 58.88 60.08 61.13 62.32

Crude Oil (CL)

— Aug (#CL)

82.29 84.32 86.46 88.49 90.63

 Sept. Bonds (ZB)

— Sept. (#ZB)

109 19/32 109 25/32 110 3/32 110 9/32 110 19/32

Dealer Gamma Map by GalTrades.com

Reading the Dealer Gamma Map

gamma

Every morning, near the bottom of the Pre-Market Briefing, you will find a small table called the Dealer Gamma Map. It looks simple — three price levels — but it is one of the most useful tools in the letter for understanding how the market is likely to move on a given day, not just which direction. This guide explains what those levels mean, why they matter, and how to use them.

The one-sentence version

Big banks and market makers (“dealers”) are on the other side of most options trades, and they constantly buy and sell futures to stay balanced. The Dealer Gamma Map shows the price levels where that mechanical buying and selling is strongest — and whether, today, those flows are likely to calm the market down or speed it up.

What is “dealer gamma”?

Finish Reading the FREE Trading Education

127efd5c bf86 4107 97e6 7fb0c45b7c50

Cannon Edge — Your Daily Futures Snapshot for July 23rd

ac066610 2f8d 473c 91fb c12d3f402023

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

·    Current price and daily % change

·    30‑day and 52‑week highs/lows

·    PROPRIETARY Short‑term and long‑term trend signals

·    Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

 Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 23rd 2026

67a710e0 c7b2 425d 9d92 092cb7511a4c

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

c8b8d6b7 f0b3 4352 97ca e02b9011a2ed

Find us on Trustpilot

41a3c910 28d6 4126 946b 6659bb02ae4d

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact

8 Steps to Successful Futures Trading PLUS: September Lumber, Pre-Market Briefing, CannonEdge Snapshot, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures on July 22nd, 2026

9dc1e02e d5f7 4ff4 abf7 1df60775f196

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

3954.70 3982.40 4014.20 4041.90 4073.70

Silver (SI)

— Sept. (#SI)

54.72 55.68 56.72 57.67 58.71

Crude Oil (CL)

— Aug (#CL)

77.18 79.80 82.20 84.82 87.22

 Sept. Bonds (ZB)

— Sept. (#ZB)

110 110 11/32 110 28/32 111  7/32 111 24/32

8 Steps to Successful Futures Trading

Ilan Levy Mayer, Vice President of Cannon Trading, shares with you 8 of the most important concepts involved in the day trading of futures. Read the sample below and then download the rest of the booklet for free by filling out the form to the right.

futures trading

Read our guide which outlines some important futures trading strategies & day trading concepts. It may be beneficial to read this guide before trading commodities on the futures market.

My name is Ilan Levy-Mayer, and I am the Vice President and Senior Futures Broker at Cannon Trading. I came up with the following personal observations after serving online traders worldwide for more than 28 years.

The following steps are guides to progress and are not necessarily in sequential order. Some of them are always required, but each futures trader is different and will relate to these stages in their own ways. While attempting to learn and progress, one must keep in mind that futures trading strategies are risky and can involve significant losses.

1. Education

Hopefully if you are already trading you have completed your initial education: contract specs, trading hours, futures brokers, platforms, the opportunities as well as the risk and need to use risk capital in futures, and so on. Understanding this information is essential to good futures trading strategies. The second type of education is ongoing: learning about trading techniques, the evolution of futures markets, different trading tools, and more.

2. Find a System

I am definitely not advising you to go on the web and subscribe to a “black box” system (using buy/sell triggers if don’t know why they are being generated). What I am advising is developing a trading technique: a general set of rules and a trading concept. As you progress, you may want to put the different rules and indicators into a computerized system, but the most important factor is to have a focus and a plan. Don’t just wake up in the morning and trade “blank.”

Finish Reading the Steps!

127efd5c bf86 4107 97e6 7fb0c45b7c50

September Lumber

September Lumber resumed its rally into a new high where the chart is taking aim at its second upside PriceCount objective to the 657 area.

37b8c782 fa28 4133 9b36 69a96c7fe152

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.

Cannon Edge — Your Daily Futures Snapshot for July 22nd

0262bbf6 d8cb 45e8 93a7 fa1d97a53871

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each Post delivers:

·    Current price and daily % change

·    30‑day and 52‑week highs/lows

·    PROPRIETARY Short‑term and long‑term trend signals

·    Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

 Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 22nd, 2026

b8f6e1c1 f873 4a30 98d3 1ccd34cca89f

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

1a102558 70ef 43f9 bf67 848a16fa5237

Find us on Trustpilot

41a3c910 28d6 4126 946b 6659bb02ae4d

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact

Silver Futures Contract

silver futures contract

Silver Futures Contract


silver futures contract

silver futures contract

Top 10 Reasons Traders Choose Silver for Reliable Futures Trading with Cannon Trading Company

The silver futures contract has remained one of the most actively followed precious metals products in the global derivatives markets for decades. Whether the goal is speculation, portfolio diversification, or commercial hedging, traders continue returning to this market because of its liquidity, transparency, and broad participation.

The CME provides a centralized marketplace where traders can access standardized contracts, competitive price discovery, and nearly around-the-clock electronic trading. Combined with the brokerage services and technology available through Cannon Trading Company, traders have access to professional tools designed to accommodate every trading style.

Below are ten detailed reasons why traders consistently rely on the silver futures contract and why Cannon Trading Company continues to serve futures traders worldwide.

  1. Exceptional Liquidity Creates Consistent Trading Opportunities

Liquidity remains one of the greatest advantages of the silver market.

A highly liquid silver futures contract allows traders to enter and exit positions efficiently throughout the trading session. Increased participation generally results in tighter bid-ask spreads and smoother execution.

Institutional investors, mining companies, refiners, manufacturers, hedge funds, and retail traders all contribute to market depth.

Examples include:

  • Active intraday scalping opportunities
  • Swing trading over multiple days
  • Longer-term macroeconomic positioning
  • Commercial hedging activities

Because of this diverse participation, the market remains active across numerous global trading sessions.

2. Silver Responds to Multiple Economic Drivers

Unlike many commodities, silver responds to several major economic themes simultaneously.

These include:

  1. Inflation expectations
  2. Industrial manufacturing demand
  3. Monetary policy
  4. Currency movements
  5. Investor demand for precious metals

This creates numerous trading opportunities throughout the year.

For example, stronger manufacturing data may support industrial demand while declining interest rates may simultaneously increase investment demand for precious metals.

These overlapping influences help create regular price movement.

3. Excellent Volatility for Active Traders

Many traders appreciate silver because it often experiences larger percentage price movements than gold.

Meaningful price movement can provide opportunities for:

  • Day traders
  • Swing traders
  • Position traders

The CME’s transparent marketplace allows traders to respond quickly as economic reports, Federal Reserve announcements, inflation releases, and geopolitical events influence prices.

Proper risk management remains essential, but experienced traders often appreciate silver’s ability to produce significant trading opportunities.

4. Nearly Around-the-Clock Trading Hours

Global electronic trading gives traders flexibility.

Rather than waiting for traditional stock market hours, traders can monitor positions during many international sessions.

Benefits include:

  1. Responding to overnight news
  2. Trading international developments
  3. Managing risk before U.S. market open
  4. Adjusting positions after economic reports

This flexibility makes the silver futures contract attractive for traders worldwide.

5. Transparent Pricing Through the CME

Price transparency builds confidence.

The CME provides centralized trading where buyers and sellers interact openly.

Every transaction contributes to real-time price discovery.

Instead of relying upon fragmented pricing, traders observe a centralized marketplace with standardized contract specifications.

This transparency helps improve confidence in market participation.

6. Useful for Both Speculation and Hedging

Silver serves many industries.

Manufacturers, jewelry producers, electronics companies, and mining operations may all utilize futures for hedging purposes.

Meanwhile, speculative traders seek opportunities based upon anticipated price movement.

Examples include:

  • Hedging inventory costs
  • Protecting production
  • Trading inflation expectations
  • Responding to economic releases

This wide user base contributes to healthy market participation throughout the year.

7. Technical Analysis Works Well

Technical traders often favor silver because chart patterns frequently attract widespread attention.

Popular tools include:

  1. Moving averages
  2. Fibonacci retracements
  3. RSI
  4. MACD
  5. Volume analysis

Support and resistance levels often become closely watched by professional traders.

Many participants combine technical analysis with economic fundamentals to improve decision making.

8. Numerous Educational Resources

The silver market has decades of educational material available.

Resources provided through the CME and Cannon Trading Company help traders better understand:

  • Contract specifications
  • Margin requirements
  • Risk management
  • Economic influences
  • Trading strategies

Education allows newer traders to become increasingly comfortable before risking capital.

Experienced traders also benefit from continuing education as market conditions evolve.

9. Diversification Benefits

Silver behaves differently than many financial assets.

Although correlations change over time, precious metals may respond differently than stock indexes, bonds, or agricultural commodities.

Portfolio diversification remains one reason traders continue incorporating silver into broader futures portfolios.

Some traders combine:

  1. Stock index futures
  2. Energy futures
  3. Agricultural futures
  4. Precious metals
  5. Interest rate futures

Diversification may help reduce concentration within a trading portfolio.

10. Strong Historical Market Participation

The silver market has maintained global importance for decades.

Industrial demand continues expanding into electronics, solar technology, medical applications, and manufacturing.

Investment demand also remains significant during periods of economic uncertainty.

This combination of industrial and investment demand helps support long-term trader interest.

Many experienced futures traders continue returning to the silver futures contract because of this balanced market structure.

Cannon Trading Company’s Trading Platforms Support Every Style

Technology plays a significant role in successful futures trading.

Cannon Trading Company offers multiple professional trading platforms designed to meet varying trader preferences.

Examples include:

  • CannonX
  • CQG
  • TradingView connectivity
  • Mobile trading applications
  • Advanced charting software

Whether a trader prefers one-click execution, DOM trading, chart trading, algorithmic strategies, or mobile access, multiple solutions are available.

Scalpers often appreciate fast order entry.

Swing traders frequently utilize advanced charting.

Position traders benefit from detailed technical studies and flexible order management.

Multiple platform choices allow traders to select technology matching their experience level and trading objectives.

Why Opening a Futures Account Is So Seamless

Beginning futures trading should not involve unnecessary complications.

Cannon Trading Company has refined its account opening process over many decades.

The process generally includes:

  1. Online application
  2. Identity verification
  3. Required compliance documentation
  4. Account approval
  5. Funding
  6. Platform setup

Knowledgeable brokerage professionals remain available throughout the process.

Rather than leaving applicants uncertain, experienced staff members answer questions regarding documentation, funding options, platform selection, and account configuration.

This personalized assistance helps many traders begin trading efficiently.

Why Traders Continue Choosing Cannon Trading Company

silver futures contract

Experience matters in futures brokerage.

Cannon Trading Company has served futures traders since 1988 while maintaining strong relationships throughout the futures industry.

Several factors distinguish the firm.

  • Decades of brokerage experience
  • Wide platform selection
  • Professional customer support
  • Educational resources
  • Competitive technology
  • Global client service
  • Responsive broker assistance
  • Multiple futures market access

Many clients appreciate speaking directly with experienced brokerage professionals instead of navigating automated systems.

This personal service remains increasingly valuable during volatile market conditions.

The firm’s emphasis on education also benefits traders.

Clients gain access to market commentary, educational materials, platform assistance, and experienced guidance designed to help them better understand futures markets.

Positive customer feedback on Trustpilot further reflects Cannon Trading Company’s long-standing commitment to customer satisfaction.

Combined with access to CME-listed futures products and modern trading technology, Cannon Trading Company continues serving traders across numerous countries.

Its reputation has been built over decades through consistent customer service, reliable technology, and a commitment to helping traders navigate increasingly sophisticated futures markets.

The silver market continues attracting traders because it combines liquidity, transparency, meaningful volatility, global participation, and broad economic relevance.

The silver futures contract provides opportunities for active traders, longer-term investors, and commercial hedgers alike.

When paired with Cannon Trading Company’s broad platform selection, experienced brokerage support, streamlined account opening process, and decades of industry experience, traders receive access to professional tools designed for today’s competitive futures environment.

Whether someone is entering the futures markets for the first time or expanding an established trading portfolio, the combination of CME products and Cannon Trading Company’s customer-focused approach offers a strong foundation for participating in the global futures markets.

Frequently Asked Questions

What is a silver futures contract?

A silver futures contract is a standardized agreement traded on the CME to buy or sell a specified amount of silver at a future date under standardized contract specifications.

Why do traders choose silver instead of gold?

Silver often experiences greater percentage price movement than gold while also benefiting from both industrial demand and investment demand.

Is silver suitable for day trading?

Many active traders use silver because of its liquidity, regular price movement, and extended electronic trading hours.

What trading platforms does Cannon Trading Company offer?

Cannon Trading Company offers multiple professional trading platforms, including CannonX, CQG, TradingView connectivity, and mobile trading solutions designed for different trading styles.

How long does it take to open a futures account?

The timeline depends upon completing required documentation and verification. Cannon Trading Company assists applicants throughout the process to help facilitate efficient account setup.

Why has Cannon Trading Company remained successful for decades?

Its longevity reflects experienced brokerage professionals, multiple trading platforms, educational resources, personalized customer service, and a longstanding commitment to serving futures traders worldwide.

Try a FREE Demo!

Ready to start trading futures? Call us at 1(800)454-9572 (US) or (310)859-9572 (International), or email info@cannontrading.com to speak with one of our experienced, Series-3 licensed futures brokers and begin your futures trading journey with Cannon Trading Company today.

Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involve substantial risk of loss and are not suitable for all investors. Past performance is not indicative of future results. Carefully consider if 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.

Important: Trading commodity futures and options involves a substantial risk of loss. The recommendations contained in this article are opinions only and do not guarantee any profits. This article is for educational purposes. Past performances are not necessarily indicative of future results.

This article has been generated with the help of AI Technology and modified for accuracy and compliance.

Follow us on all socials: @cannontrading

 

 

Complacency CRACK: A Semiconductor Scare Breaks the Calm PLUS: December Corn, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on July 21st, 2026

9dc1e02e d5f7 4ff4 abf7 1df60775f196

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

3954.70 3982.40 4014.20 4041.90 4073.70

Silver (SI)

— Sept. (#SI)

54.72 55.68 56.72 57.67 58.71

Crude Oil (CL)

— Aug (#CL)

77.18 79.80 82.20 84.82 87.22

 Sept. Bonds (ZB)

— Sept. (#ZB)

110 110 11/32 110 28/32 111  7/32 111 24/32

The Complacency Crack: A Semiconductor Scare Breaks the Calm

By Eli Levy, Senior Analyst & Series 3 Broker

semiconductor

Bottom Line

For most of the year, this market has climbed a remarkably quiet staircase. This week, it discovered the elevator shaft.

Semiconductors

The unwind started where the crowd was most comfortable: semiconductors. It kicked off Monday with SK Hynix’s largest single-day drop on record after a downbeat read on memory pricing and HBM4 shipments, and the pain didn’t stay contained. Micron (MU) finished the week down roughly 10% and SanDisk about 24%; the broader complex followed, with the SOX index — and ETFs that track it like SMH and SOXX — logging their worst week since March 2025. Even beat-and-raise quarters from Taiwan Semiconductor (TSM) and ASML couldn’t hold their stocks up.

Stocks/AI

By Friday the selling had spread out of chips and into the megacaps, with Netflix (NFLX) tumbling roughly 8–11% on soft guidance and Nvidia (NVDA) and Alphabet (GOOGL) both lower. The S&P 500 (SPX) closed the week around 7,457, off about 1.6%, slipping below its 50-day moving average while still holding the 200-day line it has defended since April. The Nasdaq fell about 2.5%. Faced with a fast-moving set of questions about the AI growth story, investors adopted a simple posture: sell now, ask questions later.

And the questions are real. Corporate budgets are visibly shifting toward AI infrastructure — the abruptness of that shift showed up violently in IBM’s roughly 25% one-day collapse, its worst in decades, as clients redirected spending away from software toward chips and memory.

Chinese labs are releasing cheaper, competitive models; new memory supply is heading toward IPO; and enterprises are quietly moving from spending on tokens at any cost toward squeezing more out of the tokens they already buy.

Crude Oil

Layer on oil — WTI crude up double digits on the week to its highest since mid-June as the U.S.–Iran standoff tightened around the Strait of Hormuz — and you have the combination that unsettles a richly valued market: uncertain returns on the biggest spending theme, plus a fresh inflation tail.

Stock Indices

But that’s only one side of the story, and the other side is genuinely strong. Underneath the volatility, this was an excellent earnings week. The big banks posted historic numbers — JPMorgan (JPM) profit up 41%, Goldman Sachs (GS) up 78% on record equities trading and an all-time-high stock, Bank of America (BAC) up 27%, Citigroup (C) up 45%, Wells Fargo (WFC) up 17%. Of the roughly four dozen S&P 500 names that have reported, the vast majority beat on both the top and bottom lines.

The rally has been broadening rather than narrowing: the equal-weight S&P is outpacing the cap-weight version for the year, S&P breadth sits at its highest since late 2024, and the money that left chips rotated straight into energy, insurers, health care and value — Travelers (TRV) jumped nearly 8% on earnings, and transports like J.B. Hunt (JBHT) led. That is what a healthy, widening market looks like: leadership changing hands rather than simply collapsing. Even bonds offered reassurance — despite the oil spike, the 10-year Treasury yield drifted lower on a flight-to-safety bid, closing near 4.54%.

Final Thoughs

So, the tape leaves us with a divided picture rather than a verdict. On one shoulder sits a de-risking, not a breakdown — a semiconductor-specific scare inside a broadening advance, with the 200-day line intact and earnings humming. On the other sits a list of risks stacking up at once: AI return-on-investment doubts, an oil-driven inflation and rates threat, and a market that had grown comfortable at the highs.

Next week is light on economic data but heavy on earnings — with Alphabet (GOOGL) reporting Wednesday against already-elevated capex guidance of $180–190B — which should tell us which shoulder the market decides to lean on.

For now, we do what we always do: watch the levels, respect the rotation, and let the tape lead.

READ THE REST and SEE CHARTS

127efd5c bf86 4107 97e6 7fb0c45b7c50

December Corn

After activating upside PriceCount objectives last week, December corn gapped into a new high to begin this week’s trade. If the chart can sustain further strength, the first count would project a possible run to the $4.95 area. A trade above the May reactionary high would formally negate the remaining unmet downside counts.

94f0bf38 c7ab 41f5 ba26 136f3bb73b4d

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.

Cannon Edge — Your Daily Futures Snapshot for July 21st

acbba987 a407 4467 ad5e 74e65f11a742

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

·    Current price and daily % change

·    30‑day and 52‑week highs/lows

·    PROPRIETARY Short‑term and long‑term trend signals

·    Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

 Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 21st, 2026

df746f1a 510e 423b 8c7d 25ff0390e473

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

eed3a971 97d4 49c9 bea8 6c43af56f296

Find us on Trustpilot

41a3c910 28d6 4126 946b 6659bb02ae4d

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact

The Week Ahead – Bulls n’ Bears on the Futures Markets PLUS: Options 101 Cont’d, August Class III Milk, CannonEdge Snapshot, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows before Trading Futures the Week of July 20th, 2026

7cfe5b36 db9f 4933 824a 7f264613e7fe

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

3937.70 3978.30 4003.60 4044.20 4069.50

Silver (SI)

— Sept. (#SI)

54.47 55.42 55.95 56.89 57.42

Crude Oil (CL)

— Aug (#CL)

76.32 78.84 80.46 82.98 84.60

 Sept. Bonds (ZB)

— Sept. (#ZB)

110 19/32 111 111 12/32 111 25/32 112 5/32

Cannon Futures Weekly Letter

In Today’s Issue #1299

  • The Week Ahead – The bulls & the bears Continue to battle…

  • Trading 102: Trading Signals

  • Futures 102 – The Daily Briefing – What The Pros Know Before Trading

  • Milk Chart & Outlook

  • Cannon Edge – Your Futures trading Map for the week ahead!

  • Trading Levels for Next Week
  • Trading Reports for Next Week

What Futures Traders Should Watch This Week

Options 101

By John Thorpe, Senior Broker

The Week Ahead

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

We have everything needed to move the market next week as we do expect increased volatility daily from earnings reports and Government data releases. This, in addition to the lasting uncertainty in the Middle East.

The key futures market news for next week’s trading focuses on many earnings reports, of note: Alphabet, Tesla and Intel. A quiet fed speaker week as we are in the Fed Blackout period.

The energy’s, metals, securities and interest rates are swirling in the uncertainty from a lack of resolution in the attempted unwinding of the Iranian nuclear program. The 60-day window to hammer out a deal has now less than three weeks to get done, or will there be none.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

  Plan your trade and trade your plan!

Earnings Next Week:

·        Mon. Steel Dynamics, Crown Hldgs, Dominos Pizza,

·        Tue. Schwab, Chubb, Danaher, Marsh & McClennon, General Motors, Northrup Grumman, 3M, DR Horton,

·        Wed. GOOG, Tesla, GE Vernova, Phillip Morris, Texas Instruments, CME

·        Thu. Intel, T-Mobil, Raytheon, Union Pacific, Blackstone, Lockheed Martin, Comcast

·        Fri.   ExxonMobil, AmExpress, Verizon.

Fed Speakers: (all times CDT)

·        Mon. Quiet

·        Tues.  Quiet

·        Wed. Blackout period prior to 28th-29th Meeting

·        Thu. Quiet

·        Fri.   Quiet

Econ Data:

·        Mon. CB Leading Index

·        Tue. Redbook, ADP Weekly, API Crude stock change

·        Wed. EIA Crude stock change, Beige Book

·        Thu. Chgo Fed Natl Activity Index, Initial Jobless claims, EIA Nat Gas Stocks, Fed Balance sheet

·        Fri. Building Permits, S&P PMI Flash, New Home Sales, KC Fed MFG. Index, Baker Hughes Oil Rig Count

Options 101(cont.)

The affects of time on the value of an option (Theta)

options
Time affects futures options through time decay (called theta). Like an expiring concert ticket, an option’s value drops as its expiration date nears. This happens because there is less time for the underlying futures contract to make a profitable move.

Key Effects of Time

  • Non-Linear Decay: Time decay is not a straight line. It is slow at first, then speeds up. Decay is fastest in the final 30 to 45 days before the option expires.
  • Extrinsic Value Loss: An option’s price is made up of intrinsic value (its real-world profit) and extrinsic value (its time value). Time affects only the extrinsic value. By expiration, all extrinsic value equals zero.
  • Moneyness Matters: At-the-money (ATM) options (where the strike price matches the futures price) are most sensitive to time decay. Options deep out-of-the-money (OTM) or deep in-the-money (ITM) decay more slowly.

Real-World Example

Imagine you buy a call option on a Crude Oil futures contract that expires in 60 days. The option costs $500.

  • Days 1 to 30: The option might only lose $50 of its value because time is on your side.
  • Days 31 to 50: The decay speeds up, costing you another $150.
  • Days 51 to 60: The final 10 days hit hard. The remaining $300 in time value vanishes rapidly.

How Traders Use Time

  • Option Buyers: Time is your enemy. You must be right about the direction and the timing of the futures move. If the market stays flat, the option loses value every day. [
  • Option Sellers: Time is your friend. Sellers aim to collect the premium paid by buyers. They profit as the option slowly decays or expires worthless.

Futures options differ from stock options because they derive from an underlying futures contract rather than a stock. You can explore specific contract details and rules on the CME Group Options on Futures guide. https://www.cannontrading.com/tools/25-proven-strategies-for-trading-options

Get a daily market edge—support & resistance levels plus key market-moving insights.

Real Time Trading Signals

Sign up to receive a family of studies along with trading ALGORITHMS you can place on your own charts, your own time frame, and the markets you prefer.

 What You’ll Receive

  • Real-time intraday signals delivered directly through Sierra Chart or TradingView – watch a quick video here!
  • Clear entries, exits, and trend bias based on objective, rules-driven logic
  • Tools designed to help you structure your trading day with more discipline and consistency
  • 23-page PDF eBook detailing the logic, concept and trading applications
  • The Diamond ALGO and indicators family – applicable to any market at any time frame
  • One-on-one remote session to get you started
  • Online meeting invitation if you need any help with installation

START NOW – NO CREDIT CARD REQUIRED – START NOW – NO CREDIT CARD REQUIRED

1ab82322 3fe6 467c 8a06 58a08d52f845

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

That intelligence stays locked inside trading desks, institutional terminals, and private client portals — accessible only to the few who pay for the privilege, and even they only get what they pay for.

This briefing changes that (100% FREE on Cannon’s website!!). Every morning we scour the open web and aggregate everything that matters — pulling from publicly available sources so you never have to — and distill it into one clear, readable edition you can get through before your first coffee is finished.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Read the Latest Briefing HERE and make sure to Bookmark this page!

 August Class III Milk

August Milk gapped higher yesterday and will activate upside PriceCount objectives pending a second close above 17.30 today. The first count projects a possible rally to the 18.22 area.

1edaa137 c7a2 4dd8 a82b 25a711c1c5e8

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.

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for July 20th, 2026

a972e45b cfc2 405e 95d2 133052c35a25

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

  • Current price and daily % change
  • 30‑day and 52‑week highs/lows
  • PROPRIETARY Short‑term and long‑term trend signals
  • Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of Automated trading systems?

Daily Levels for July 20th, 2026

a0030c1e 298a 43c7 8362 f21bb96bd4eb

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

e8624ff4 b711 471c 860a 9551902f70bc

Find us on Trustpilot

4ad8134c aa57 4adb a428 7cc476773107

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact

NEW VIDEO: Using Trade Signals with Price Confirmation PLUS: December Meal, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows before Trading Futures on July 17th, 2026

9dc1e02e d5f7 4ff4 abf7 1df60775f196

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

3910.43 3945.97 4008.93 4044.47 4107.43

Silver (SI)

— Sept. (#SI)

53.95 54.94 56.58 57.57 59.22

Crude Oil (CL)

— Aug (#CL)

76.61 77.51 78.90 79.80 81.19

 Sept. Bonds (ZB)

— Sept. (#ZB)

110 4/32 110 19/32 110  31/32 111 14/32 111 26/32

Price Confirmation? Check the video below

price

Would you like to try the indicators and signals in the video above? SIGN HERE FOR FREE

December Meal

December Meal is attempting to break out above the extended downtrend. In the process, the chart has activated upside PriceCount objectives and negated the remaining unmet fourth downside count.

68707bcd af67 4ce7 8738 a2b56b4c9785

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.

Cannon Edge — Your Daily Futures Snapshot for July 17th

1edfcebf 30de 43f7 8a9f 5025e823489c

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

·    Current price and daily % change
·    30‑day and 52‑week highs/lows
·    PROPRIETARY Short‑term and long‑term trend signals
·    Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

 Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 17th, 2026

ac297715 584c 4db1 a9e6 dc2f4ec3c39d

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

75bed064 0011 4e47 af7b 236e8909965a

Find us on Trustpilot

41a3c910 28d6 4126 946b 6659bb02ae4d

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact

Futures: How to Better Manage Losing Days PLUS: September E-Mini S&P, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on July 16th, 2026

9dc1e02e d5f7 4ff4 abf7 1df60775f196

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

3993.83 4030.17 4059.63 4095.97 4125.43

Silver (SI)

— Sept. (#SI)

55.66 56.88 58.14 59.36 60.63

Crude Oil (CL)

— Aug (#CL)

77.08 78.70 79.82 81.44 82.56

 Sept. Bonds (ZB)

— Sept. (#ZB)

110 2/32 110 18/32 110  31/32 111 15/32 111 28/32

How to Better Manage Losing Days Futures Trading

futures

Managing losing days is one of the most important skills a trader can develop. The goal is not to eliminate losses—it’s to keep them controlled, predictable, and emotionally manageable.

Here are some practical guidelines:

1. Define Your Maximum Daily Loss

Before the trading session begins, decide how much you’re willing to lose for the day.

For example:

  • Account size: $10,000
  • Maximum daily loss: $500-$700

When you reach that limit, stop trading. No exceptions.

Many professional traders are successful largely because they know when to stop.

2. Focus on Process, Not P&L

A losing day doesn’t necessarily mean you traded poorly.

Ask yourself:

  • Did I follow my trading plan?
  • Did I manage risk correctly?
  • Did I enter and exit according to my rules?

If the answer is yes, then it may simply be a normal cost of doing business.

3. Avoid “Getting Even” Trades

The desire to make back losses quickly is one of the biggest account killers.

Watch for:

  • Oversizing positions
  • Taking low-quality setups
  • Revenge trading
  • Moving stops further away
  • Adding to losing positions without a plan

The market doesn’t know or care where your P&L stands.

4. Reduce Size After a Drawdown

When you’re having a rough day or week, trade smaller.

Many successful traders follow a rule such as:

  • Down 2 days in a row → cut size by 25%
  • Down 3-4 days in a row → cut size by 50%
  • Regain consistency before increasing size again

Smaller size helps restore confidence while protecting capital.

5. Keep a Trading Journal

Record:

  • Entry and exit reasons
  • Market conditions
  • Emotional state
  • Mistakes made
  • Lessons learned

Over time, patterns emerge. You’ll often find that your biggest losing days come from a small number of recurring mistakes.

6. Grade Yourself on Discipline

Instead of asking:

“Did I make money today?”

Ask:

“How well did I execute my plan today?”

A trader who follows the plan and loses may actually have had a better day than a trader who broke all the rules and got lucky.

7. Understand Your Statistics

Know:

  • Average winning day
  • Average losing day
  • Win rate
  • Risk/reward ratio
  • Largest historical drawdown

When losses fall within your historical expectations, they’re easier to accept and less likely to trigger emotional decision-making.

8. Remember That Capital Is Your Inventory

A retailer protects inventory. A trader protects capital.

You can always find another opportunity tomorrow. Protecting your trading capital allows you to stay in the game long enough for your edge to play out.

A Simple Mindset Shift

Instead of saying:

“I lost money today.”

Try saying:

“I paid the market’s operating expense today.”

The traders who survive and thrive aren’t the ones who never lose. They’re the ones who never let a normal losing day become a catastrophic one.

thumbnail?url=https%3A%2F%2Fi.ytimg.com%2Fvi%2F1HQ6Z7bZwQM%2Fhqdefault

Would you like to try the indicators and signals in the video above? SIGN HERE FOR FREE

September E-Mini S&P

The September E-Mini S&P completed the second upside PriceCount objective off the ‘Liberation Day’ low and has been consolidating with a sideways trade. If the chart can resume its rally with new sustained highs, the third count would project a possible run to the 8824 area.

890e95ea fa5e 48fa b77b 90f71ffda3aa

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.

Cannon Edge — Your Daily Futures Snapshot for July 16th

a8f0a3e4 5860 4017 8eed ac2cc4a70758

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

·    Current price and daily % change

·    30‑day and 52‑week highs/lows

·    PROPRIETARY Short‑term and long‑term trend signals

·    Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

 Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 16th, 2026

16806751 0d20 4890 92c2 2b00420b4474

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

aa5fdffd aeb4 4213 8048 b5efecd0c78b

Find us on Trustpilot

41a3c910 28d6 4126 946b 6659bb02ae4d

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact

Futures: Some Days Are Simply Losing Days PLUS: September Wheat, Pre-Market Briefing, CannonEdge Snapshot, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures on July 15th, 2026

9dc1e02e d5f7 4ff4 abf7 1df60775f196

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

3932.63 3996.97 4054.73 4119.07 4176.83

Silver (SI)

— Sept. (#SI)

55.91 57.53 58.79 60.41 61.66

Crude Oil (CL)

— Aug (#CL)

76.21 78.01 79.64 81.44 83.07

 Sept. Bonds (ZB)

— Sept. (#ZB)

109 22/32 110 9/32 110  30/32 111 17/32 112 6/32

Some Days Are Simply Losing Days

futures

Don’t fight it.

If you’re going to trade, you will have losing days. I’ve been in the futures industry for over 15 years, and in that time, I’ve never met a trader who hasn’t had a losing day—and I never will. It’s impossible.

The key is to understand this reality and accept it.

One of the most important responsibilities of a day trader is making sure that a losing day does not turn into a disaster. Human nature works against us here. Our emotions and instincts are not naturally wired to handle losses well. We want to be right. We want to win back what we’ve lost.

However, one of the defining differences between successful traders and those who struggle to become traders is that successful traders learn how to lose. They understand that losses are part of the business. Traders who refuse to accept a losing day often make a series of costly mistakes in an attempt to avoid taking that loss.

They may hold positions overnight when they normally wouldn’t. They may reverse positions impulsively, add to losing trades, pyramid at the wrong time, or abandon their trading plan altogether. These are decisions they typically wouldn’t make on a normal day.

As a result, what should have been a manageable losing day—perhaps a $700 loss in a $10,000 account—can quickly spiral into a devastating drawdown, wiping out a large portion of the account, if not more.

That’s why it’s critical to maintain realistic expectations and understand the statistics of your own trading. Keep detailed records. Track your performance. Know your average winning days, losing days, drawdowns, and risk parameters.

Sometimes the most valuable lesson in trading is learning how to lose properly.

Because before you can truly excel at trading, you must first master the ability to accept and manage losses.

Tomorrow we will discuss on How to Better Manage Losing Days

127efd5c bf86 4107 97e6 7fb0c45b7c50

September Wheat

September Wheat activated fresh upside PriceCount objectives off the recent low. The first count projects a possible run to the 6.65 area. A trade above the May reactionary high would formally negate the remaining unmet downside counts.

409cbcf7 9b16 4d97 ab9e abe165547dcf

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.

Cannon Edge — Your Daily Futures Snapshot for July 15th

3a9b644f ca0b 4cf9 adac 9238efe77bf1

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

·    Current price and daily % change

·    30‑day and 52‑week highs/lows

·    PROPRIETARY Short‑term and long‑term trend signals

·    Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

 Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 15th, 2026

990d3393 4224 45b2 a915 44c1ce9459ca

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

1c37f13d 5e5b 4a32 99a9 664210248ab4

Find us on Trustpilot

41a3c910 28d6 4126 946b 6659bb02ae4d

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact

US/Iran Conflict: Crude Oil, S&P 500 and more PLUS: August Hogs, CannonEdge Snapshot, Pre-Market Briefing, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures on July 14th, 2026

9dc1e02e d5f7 4ff4 abf7 1df60775f196

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

3919.97 3965.73 4038.67 4084.43 4157.37

Silver (SI)

— Sept. (#SI)

56.29 57.19 58.49 59.39 60.69

Crude Oil (CL)

— Aug (#CL)

70.44 74.10 76.28 79.94 82.12

 Sept. Bonds (ZB)

— Sept. (#ZB)

110 8/32 110 14/32 110  26/32 111 111  12/32

Crude Oil: The Tape Isn’t Buying the Headlines

By Eli Levy, Senior Analyst & Series 3 Broker

oil

 

Bottom Line

Top of Book

Markets hit midweek turbulence after another round of attacks in the Strait of Hormuz and word that the U.S./Iran ceasefire is off. Oil and Treasury yields rose, and the VIX nearly touched 19 on Wednesday before drifting back to 15.25 today. But crude never confirmed the panic — August WTI was last seen down $0.49 at $71.59/barrel, and Brent’s brief run above $80 didn’t stick. The distance between the headlines and the price is the week in a sentence.

The Argument

Both Sides of the Tape

The Bull Case

If oil stays contained, the geopolitics stay background noise and the market gets to focus on what actually moves multiples: the economy and Q2 earnings, which start next week. The Street is looking for 23.3% year-over-year growth for the S&P 500 — though it’s worth noting the median company only needs to clear roughly 9%, a far more forgiving bar than the headline number implies.

The tape is behaving like it expects to be rewarded: the S&P 500 is on track for a three-week closing high, and the Equal Weight index bounced firmly off its 20-day SMA, which says the strength isn’t just a handful of megacaps. Financials, healthcare, and industrials are printing new weekly highs. July seasonality has historically been supportive, and a good earnings season would give the fundamental story something to stand on.

Notably, the most constructive argument this week wasn’t about AI at all — it was that the second half offers catch-up trades and overlooked areas precisely because so many expect returns to moderate.

The Bear Case

The longer the conflict runs, the higher the odds oil eventually grinds higher — and higher oil complicates inflation at the exact moment the market wants the Fed sidelined. Both sides say indirect talks continue, but after this week’s exchange, the odds of near-term normalization in the Strait look poor.

Then there’s positioning. Hedge fund gross and net exposure sits near the 97th percentile, retail margin debt, fund leverage, and leveraged ETF assets are all building at once, and quarter-end pension rebalancing points to mechanical selling. None of that is a sell signal on its own, but it’s the kind of structure that turns ordinary pullbacks into sharp ones. And semis still have to prove themselves.

The SOX bounced off its 50-day SMA, but it was choppy, not a clean “V” off support. Notably, funds sold tech at a record pace this week while parts of the Street were buying chips into the reset — a real disagreement, not a technicality.

The Two Arguments Worth Watching…..

READ THE REST and SEE CHARTS

127efd5c bf86 4107 97e6 7fb0c45b7c50

August Hogs

August Hogs have resumed their rally into a new high. If sustained, the second upside PriceCount objective projects a possible run to the 101.19 area.

65478f8c f020 44ec 8100 71977ae33120

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.

Cannon Edge — Your Daily Futures Snapshot for July 14th

22823c15 da8c 464d a0be 6e92d3293f9e

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

 

·    Current price and daily % change

·    30‑day and 52‑week highs/lows

·    PROPRIETARY Short‑term and long‑term trend signals

·    Coverage across equity indices, metals, energies, currencies, and ags

 

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

 Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 14th, 2026

1cb1ac95 bdd5 434d 9551 b45a8d758130

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

fb9badb8 c0f4 4b44 827a b7b6279407ae

Find us on Trustpilot

41a3c910 28d6 4126 946b 6659bb02ae4d

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact

The Week Ahead: CPI, PPI, Iran PLUS: Trading Signals, Futures 102, Options 303, Corn Spread Chart, CannonEdge Snapshot, Levels, Reports; Your 10 Important Can’t-Miss Need-To-Knows for Trading Futures the Week of July 13th, 2026

7cfe5b36 db9f 4933 824a 7f264613e7fe

Cannon Futures Weekly Letter

In Today’s Issue #1298

  • The Week Ahead – Humphrey Hawkins Testimony, CPI, PPI, Iran

  • Trading Signals!

  • Futures 102 – The Daily Briefing – What the Pros Know Before Trading

  • Options 303: Selling Options premium & More!

  • September Wheat Corn Spread Chart & Outlook

  • Cannon Edge – Your Futures trading Map for the week ahead!

  • Trading Levels for Next Week
  • Trading Reports for Next Week

At A Glance Levels

Instrument S2 S1 Pivot R1 R2

Gold (GC)

— Aug (#GC)

4052.50 4086.20 4115.40 4149.10 4178.30

Silver (SI)

— Sept. (#SI)

58.25 59.12 60.20 61.16 62.15

Crude Oil (CL)

— Aug (#CL)

69.44 70.50 71.83 72.89 74.22

 Sept. Bonds (ZB)

— Sept. (#ZB)

110 23/32 111 111  10/32 111 19/32 111 29/32

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

cpi

The Week Ahead

We have everything needed to move the market next week as we do expect increased volatility daily from earnings reports to Fed Speakers and Government data releases. This, in addition to the lasting uncertainty in the Middle East. The key futures market news for next week’s trading focuses on

1. Heavy economic Data points including measures of inflation, CPI, PPI, Michigan Consumer Sentiment.

2. Humphrey Hawkins testimony, 12 Fed speakers including Chair Warsh’s Congressional testimony.

3. The Q2 corporate earnings lift off with over 2 trillion dollars in banking market cap on Tuesday before the open featuring, JPMorgan, BofA, Goldman, Citi and Wells followed by Wednesday’s premarket menu of over 1 trillion dollars in banking market cap featuring Morgan Stanley, BlackRock, Bank of NY, PNC and M&T with consumer goods nameplate Johnson and Johnson mixed in.

Don’t sleep on the banks earnings, Netflix after the close on Thursday announces it’s Q2 results. Additionally, Alcoa also announces after the close. Of note: if I counted correctly, 29 banks report, I have only listed the largest of them below.

Big bi-annual Humphrey -Hawkins Testimony to both the U.S.House on Tuesday and the U.S. Senate on Wednesday. This is the second and final this year, required monetary policy testimony for the Fed Chair. Powell presided in February, while this will be the first of many for Chairman Kevin Warsh. Typically, the House testimony moves the markets more than the Senate testimony. When Does It Peak?

Volatility occurs in two main waves:

  1. The Prepared Remarks (Instant Spike): The initial release of the written Monetary Policy Report causes immediate, sharp price swings as traders react to the hard data.
  2. The Q&A (Extended Fluctuations): This is where investors expect the most volatility. If the Fed Chair makes an off-the-cuff, “hawkish” remark (hinting at interest rate hikes to fight inflation), stocks usually drop. If they make a “dovish” remark (hinting at rate cuts or stimulus), stocks typically rise. (Federal Reserve Bank of Cleveland)

Who can trust the fragile Islamabad Memorandum of Understanding?  Is this now null and void?  Will Peace talks resume after the paused week-long funeral for former Supreme Leader Ayatollah Ali Khamenei?

           Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy’s, metals, securities and interest rates are swirling in the uncertainty from a lack of resolution in the attempted unwinding of the Iranian nuclear program. The 60-day window to hammer out a deal has now less than 26 days to get done, or will there be none.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

  Plan your trade and trade your plan!

 

Earnings Next Week:

·        Mon. Fastenal, FB Financial, Greenbrier Companies

·        Tue. JP Morgan, B of A, Goldman Sachs, CitiGroup, Wells Fargo,

·        Wed. J & J, Morgan Stanley, BlackRock, Bank of NY, PNC Bank, Cintas, M&T Bank, Inited Airlines, Conagra Foods

·        Thu. Netflix, Alcoa, United Healthcare, GE Aerospace, Abbott, Intuitive Surgical, ProLogis, US Bancorp, Truist, State Street

·        Fri.   Travelers Companies, Fifth Third Bancorp

Fed Speakers: (all times CDT)

·        Mon. 11:30 am Waller,

·        Tues.  9:00 am Fed Chair Warsh House Testimony for the Monetary Policy Report, 11:40 am Barr, Noon, Goolsbee, 12:30 pm Cook, 1:55 pm Bowman

·        Wed. 7:45 am Williams, 9:00 am Fed Chair Warsh Senate Testimony, Noon Cook, 5:30 pm Musalem

·        Thu. 11:30 am Logan, 6:00 pm Jefferson

·        Fri.   Quiet

Econ Data:

·        Mon. S&P Services, ISM Services,

·        Tue. CPI, Redbook, ADP Weekly, API Crude stock change

·        Wed. PPI, , EIA Crude stock Change, Beige Book

·        Thu. Retail Sales, Initial Jobless claims, Philly Fed, EIA Nat Gas Stocks, NAHB Housing market index,

·        Fri. Building Permits, Housing Starts, Industrial Production, Michigan Consumer Sentiment, Baker Hughes Oil Rig Count

Get a daily market edge—support & resistance levels plus key market-moving insights.

Real Time Trading Signals

Sign up to receive a family of studies along with trading ALGORITHMS you can place on your own charts, your own time frame, and the markets you prefer.

 What You’ll Receive

  • Real-time intraday signals delivered directly through Sierra Chart or TradingView
  • Clear entries, exits, and trend bias based on objective, rules-driven logic
  • Tools designed to help you structure your trading day with more discipline and consistency
  • 23-page PDF eBook detailing the logic, concept and trading applications
  • The Diamond ALGO and indicators family – applicable to any market at any time frame
  • One-on-one remote session to get you started
  • Online meeting invitation if you need any help with installation

START NOW – NO CREDIT CARD REQUIREDSTART NOW – NO CREDIT CARD REQUIRED

1ab82322 3fe6 467c 8a06 58a08d52f845

Futures Options Writing

Have you ever wondered who sells the futures options that most people buy? These people are known as the option writers/sellers. Their sole objective is to collect the premium paid by the option buyer. Option writing can also be used for hedging purposes and reducing risk. An option writer has the exact opposite to gain as the option buyer.

The writer has unlimited risk and a limited profit potential, which is the premium of the option minus commissions. When writing naked futures options your risk is unlimited, without the use of stops. This is why we recommend exiting positions once a market trades through an area you perceived as strong support or resistance. So why would anyone want to write an option? Here are a few reasons:

  1. Most futures options expire worthless and out of the money. Therefore, the option writer is collecting the premium the option buyer paid.
  2. There are three ways to win as an option writer. A market can go in the direction you thought, it can trade sideways and in a channel, or it can even go slowly against you but not through your strike price. The advantage is time decay.
  3. The writer believes the futures contract will not reach a certain strike price by the expiration date of the option. This is known as naked option selling.
  4. To hedge against a futures position. For example: someone who goes long cocoa at 850 can write a 900 strike price call option with about one month of time until option expiration. This allows you to collect the premium of the call option if cocoa settles below 900, based on option expiration. It also allows you to make a profit on the actual futures contract between 851 and 900. This strategy also lowers your margin on the trade and should cocoa continue lower to 800, you at least collect some premium on the option you wrote. Risk lies if cocoa continues to decline because you only collect a certain amount of premium and the futures contract has unlimited risk the lower it goes.

Selling options premium or “options writing” is an advance, sometimes unlimited risk strategy and not suitable for everyone!! read more and download PDF “cheat Sheet” HERE.

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

That intelligence stays locked inside trading desks, institutional terminals, and private client portals — accessible only to the few who pay for the privilege, and even they only get what they pay for.

This briefing changes that (100% FREE on Cannon’s website!!). Every morning we scour the open web and aggregate everything that matters — pulling from publicly available sources so you never have to — and distill it into one clear, readable edition you can get through before your first coffee is finished.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Read the Latest Briefing HERE and make sure to Bookmark this page!

Wheat Corn Spread

Some professional futures traders prefer trading spreads—both intraday and swing—because spreads can reduce outright market risk while still offering opportunities for consistent returns. By trading the price relationship between two related contracts rather than a single direction, traders can benefit from relative value inefficiencies, seasonal patterns, and supply-demand imbalances. Intraday spread trading often provides smoother price action and tighter risk control, while swing trading spreads can capitalize on longer-term structural trends with lower volatility compared to outright positions. Additionally, spreads typically require lower margin and can be less sensitive to macro shocks, making them an appealing strategy for disciplined risk management and more stable performance.

That being said – spread trading is risky just like futures trading and past performance is not indicative of future results.

In today’s chart review, you will see an idea/ outlook of a swing trade between the Corn and wheat.

Some INTRA day traders will day trade gold vs silver, MNQ versus MES, ten years vs the 30 years and more….

Curious?

 

Learn more here or even better schedule a one on one consultation with a licensed series 3 broker HERE

 

5d80715e e743 4cf7 891d 1821aa35ccca

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.

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for July 13th, 2026

ec96a8af d7dd 4c1a 97ef a729ef8751c1

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

  • Current price and daily % change
  • 30‑day and 52‑week highs/lows
  • PROPRIETARY Short‑term and long‑term trend signals
  • Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of Automated trading systems ?

Daily Levels for July 13th, 2026

326ec615 fca3 4794 8a33 33d93c6604f0

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

95fec33e 1858 4a06 8f7b 63f75176dec1

Find us on Trustpilot

4ad8134c aa57 4adb a428 7cc476773107

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.

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on AppleSpotify, Amazon

or wherever you listen to podcasts!

S
Facebook  Instagram  LinkedIn
S
ef3ab1c9 8d6d 4e60 a3f1 af5d9d4ecbb3
Services
Software
Tools
Community
Contact