Cannon Futures Weekly Letter
In Today’s Issue #1303
- The Week Ahead – Geo Politics & Housing Data
- Trading 102: Projecting Possible Targets (Video)
- Futures 102 – The Daily Briefing – What The Pros Know Before Trading
- Corn Spread Chart & Outlook
- Cannon Edge – Your Futures Trading Map for the week ahead!
- Trading Levels for Next Week
- Trading Reports for Next Week
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What Futures Traders Should Watch This Week
By John Thorpe, Senior Broker
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 housing with the National Home Builders, market index, building permits, Housing Starts, and Mortgage data, combined with earnings from Home Depot and Lowes. While we will see more discount retailers as Walmart, TJX and Target report. Other mid-level firms will also be reporting.
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.
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. Quiet
- Tue. Home Depot, Toll Bros
- Wed. Analog Devices, TJX Companies, Lowe’s, Target
- Thu. Walmart, John Deere, Intuit, Dollar Tree, Burlington Stores, Gap, Abercrombie
- Fri. Ubiquiti Networks, BJ’s Wholesale
Fed Speakers: (all times CDT)
- Mon. Quiet
- Tues. Quiet
- Wed. Quiet
- Thu. Quiet
- Fri. Quiet
Econ Data:
- Mon. Empire State MFG. Index, NAHB Housing Market Index
- Tue. Redbook, ADP Weekly, Bldg. Permits, Housing Starts, Industrial Production, API Crude stock change, Pending Home Sales
- Wed. EIA Crude stock change,
- Thu. Initial Jobless claims, Philly Fed, CB Leading Index, EIA Nat Gas Stocks, Fed Balance sheet
- Fri. S&P PMI Flash, Baker Hughes Oil Rig Count
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Get a daily market edge—support & resistance levels plus key market-moving insights.
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Projecting Possible Targets (Video)
The markets never stop moving, and neither should your trading knowledge. In this short video, you’ll gain insight into a couple of different ways to project possible targets when you are in a profitable trade. If you like a free trial for the signals shown in the video, sign up here.
Watch Video Now!
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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!
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September – December Corn Spread
The September – December corn spread is approaching its 3rd downside PriceCount objective to the -25 area which should be about as wide as we go. It would be normal to get a near term reaction in the form of a consolidation or corrective trade from this level, at least. Financial full carry on the spread is near -32 so we will not show the low percentage 4th count at -40, which is not a realistic target.
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 with Corn futures, using different months. Same markets, different months is called Inter Market Spread.
Some INTRA day traders will day trade gold vs silver, MNQ versus MES, ten years vs the 30 years and more….
Curious?
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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.
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.
Highly recommended for HEDGERS!
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Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for August 17th, 2026
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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.
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Would you like to get weekly updates on real-time, results of Automated trading systems ?
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Daily Levels for August 17th, 2026
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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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