Cannon Futures Weekly Letter
May MN Wheat
In Today’s Issue #1231
- May Minnesota Wheat – Hot Market of the Week
- Permanent Demo Available
- The Week Ahead – NVIDIA, PCE, Housing Numbers, Fed Speeches and More!
- Futures 102 – Understanding mini NASDAQ 100
- Broker’s Trading System of the Week – ES intraday System
- Trading Levels for Next Week
- Trading Reports for Next Week
Trading Demo Available with your StoneX Futures Platform:
This permanent demo is available to all clients using the StoneX futures ( CQG desktop) platform as long as you have a balance.
If you live account is subscribed to live data, your demo will also have live data.
Demo data will run off the market data subscriptions you have.
See example below:
Login to your live trading account: https://m.cqg.com/stonexfutures
In the upper right corner, you should be able to click on your account number and select the demo account, which will be highlighted in yellow.
Important Notices: The Week Ahead
By John Thorpe, Senior Broker
The final trading day of the month Next Friday with a full week packed with housing and other economic data, Fed Speak and a hot earning report or two.
Earnings Next Week:
- Mon. Quiet
- Tue. Home Depot before the open, Intuit post close
- Wed. NVIDIA , Sales Force post close
- Thu. quiet
- Fri. quiet
FED SPEECHES:
- Mon Quiet
- Tues. Barr 10:45 am CST, Barkin 12:00pm CST
- Wed. Barkin 7:30 am CST, Bostic 11 am CST
- Thu. Barr 9 am CST, Bowman 10:45 am CST, Hammack 12:15pm CST, Harker 2:15 CST
- Fri. Quiet
Economic Data week:
- Mon. Dallas Fed Manufacturing
- Tue. RedBook, Case Schiller, Consumer confidence, Dallas Fed,
- Wed. Richmond Fed, Bldg Permits, New Home Sales
- Thur. Initial Jobless Claims, Durable Goods Q2 advance,
- Fri. Core PCE, Chicago PMI
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Futures 102: Understanding the E-mini Nasdaq-100
Course Overview
Learn more about the E-mini Nasdaq-100 futures contract. You will gain an understanding of the E-mini Nasdaq-100 futures contract specifications, spreading between different equity index futures contracts, and the tools available to help investors.
Start Now |
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Hot Market of the Week
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.
May MN Wheat
May MN wheat satisfied its third upside PriceCount objective where it would be normal to get a near term reaction in the form of a consolidation or corrective trade, at least. At this point, IF the chart can resume its rally into new sustained highs, we are left with the low percentage fourth count to aim for to the $7.27 area. It takes a trade above the October reactionary high to formally negate the remaining unmet downside counts. That’s May MN Wheat!
PriceCounts – Not about where we’ve been, but where we might be going next!
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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.
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Brokers Trading System of the Week
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
ES NZL
PRODUCT
Mini SP500
SYSTEM TYPE
Day Trading
Recommended Cannon Trading Starting Capital
$36,000
COST
USD 199 / monthly
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The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
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Trading Levels for Next Week
Daily Levels for February 24th, 2025
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Trading Reports for Next Week
First Notice (FN), Last trading (LT) Days for the Week:
www.mrci.com
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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.
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