What you need to know before trading futures tomorrow – September 6th 2023
by Ilan Levy-Mayer, VP
ISM PMI is out tomorrow.
Crude oil numbers will NOT be out tomorrow like normally do, due to the Labor Day weekend, these numbers will be released Thursday 30 minutes after the natural gas numbers.
Most of the last few sessions in stock index futures have been extremely choppy. This will sometimes happen ahead of a strong breakout….the million $ question is which way…..
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.
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.
Trading Resource of the Week – : LT and FN ( Last trading & first Notice Days)
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.
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.
December Wheat resumed it’s slide into new contract lows. Using the recent peak as the current leg, our next PriceCount objective is projected at $5.97
PriceCounts – Not about where we’ve been , but where we might be going next!
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.
Broker’s Trading System of the Week
Are you interested in seeing how two different intraday trading systems perform in real time, live trading?
Cannon Trading offers you weekly updates on the results of these systems, which trade the MNQ (micro mini Nasdaq) and the ES (mini SP) respectively.
You can compare and contrast their strategies, risks, and returns, and decide which one suits your trading goals better. All you need is a minimum account size of $10,000 for the MNQ system and $25,000 for the ES system.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
Would you like to receive daily support & resistance levels?
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
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.
Good Trading!
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.
What you need to know before trading futures tomorrow, September 1st 2023
by Ilan Levy-Mayer, VP
NFP is tomorrow! Non Farm Payrolls also known as employment numbers. Big report regardless, even bigger impact of this one after the fed’s words in Jackson Hole. This is a market moving event and we expect high volatility, right before, during and right after.
ISM will be released 90 minutes after the NFP!
Tomorrow is the first day of Q4 as well as the Friday before Labor Day, expect higher volatility than normal.
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.
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 you need to know before trading futures tomorrow – Aug 31st 2023
by Mark O’Brien, Senior Broker
General:
Once again, we’re a couple of days away from the Labor Dept.’s release of its monthly Non-farm payrolls report – widely considered one of the most important and influential measures of the U.S. economy. The report is released at 7:30 A.M., Central Time on the first Friday of the month.
The annual Jackson Hole Symposium concluded last week and Federal Reserve Chair Jerome Powell declared further interest rate increases are not off the table. Even with higher loan rates making it harder to afford a car or a home or for businesses to finance expansion the economy is still growing. Core inflation (excluding volatile food and energy prices) remains elevated, consumers keep spending briskly and hiring continues with the U.S. employment rate still around 50-year lows. Chair Powell hewed to the Fed’s commitment to data dependance: the Central Bank “will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data.”
Softs:
Five trading sessions and a ±two-cent ($2,240) move up later, March ’24 sugar futures are once again threatening to break above 26 cents / lb., matching sugar’s 10-yr. highs. And life-of-contract highs for the March ’24 contract.
After a brief let-up including a weighty single-day ±24-cent ($3,600) intraday drop from its highs on Aug. 17th, Nov. orange juice rebounded and closed today at a new all-time high of $3.29.20 per pound.
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.
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.
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.
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 Earnings tail this week will include SalesForce on Wednesday and Dell, a dividend pick for tech stocks, on Thursday. LuLulemon reports on Thursday.
Friday the Big news will not come from the earnings front It is that time of the month again, time for NFP. Similar to the JOLTs release earlier in the week, watching how NFP comes out could have a strong impact on the market. The last two reports have been revised down in the following weeks and if this one follows suit could provide some sell pressure in the general market. If however, this comes in as a beat, it’s possible the market rallies on a strong jobs report.
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.
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.
Trading Resource of the Week – : When and Where Do I exit My Trade?
Whether you’re a day trader, a position trader, a spread trader, or an option trader, some of the mental challenges and the questions to go with them are constant:
Where, When and how do I enter a trade?
How do I define risk and implement any type of risk control, like placing stop orders, or implementing some sort of option protection?
Where and how do I exit a trade, both in the event of a profitable trade and an unsuccessful one?
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.
December Cotton satisfied its first upside PriceCount objective recently and corrected. At this point, if the chart can resume its rally with new sustained highs, the second count would project a possible run to the 95.74 area.
PriceCounts – Not about where we’ve been , but where we might be going next!
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.
Broker’s Trading System of the Week
Are you interested in seeing how two different intraday trading systems perform in real time, live trading?
Cannon Trading offers you weekly updates on the results of these systems, which trade the MNQ (micro mini Nasdaq) and the ES (mini SP) respectively.
You can compare and contrast their strategies, risks, and returns, and decide which one suits your trading goals better. All you need is a minimum account size of $10,000 for the MNQ system and $25,000 for the ES system.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
Trading Levels for Next Week
Daily Levels for August 28th, 2023
Would you like to receive daily support & resistance levels?
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
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.
Good Trading!
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.
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.
You may recall that I have mentioned this topic before: Some clients find it hard to trade the mini NASDAQ or the mini S&P, among other contracts. My suggestion is to explore other markets and try them out on demo mode. You can trade these contracts in simulated trading and learn about their different personalities, what reports affect them, and how they behave. There are other markets that you can trade and day trade besides the mini S&P and the mini NASDAQ, which I personally like a lot.
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.
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.
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.
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.
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
