Movers and Shakers: Geopolitical Tensions, Fed Insights, and NVIDIA Earnings Ahead

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Movers and Shakers (NVDA after the close!)

 

Updated: November 19, 2024 12:57 pm


KC Fed President Schmid: if potential immigration and US tariffs policies impact the US employment and inflation situation then the Fed will make adjustments

 

Updated: November 19, 2024 12:37 pm


KC Federal Reserve President Schmid: unclear how much further interest rates might fall, but says the rate cuts so far are an acknowledgement by the Fed in their confidence of falling inflation

 

Updated: November 19, 2024 10:18 am

 

Concerns about escalating tensions in Eastern Europe are real


Russia – Ukraine War Update (QTnews)

–A Russian missile attack on a residential neighbourhood has killed 10 people and wounded 44 in Ukraine’s Black Sea port of Odesa. Four children were among the wounded while three people are in serious condition, according to local officials.
Russia’s Ministry of Defence said its forces took control of the village of Novooleksiivka in eastern Ukraine’s Donetsk region.
–Ukrainian President Volodymyr Zelenskyy visited the eastern front-line towns of Pokrovsk and Kupiansk as Kyiv marks 1,000 days since the start of Russia’s full-scale invasion.
–The world’s chemical weapons watchdog said it found traces of tear gas in samples taken last month on the front line with Russia in Ukraine’s Dnipropetrovsk region. The team was not mandated to assign blame, but Ukraine and the US have claimed Russia has illegally deployed tear gas to clear trenches.
–Ukrainians in Odesa had been without power for 24 hours as of Monday morning and further cuts were expected across the country after a Russian missile strike damaged energy infrastructure.
–The United States said Russia is escalating its war in Ukraine by deploying North Korean troops after the Kremlin warned Washington it was adding ‘fuel to the fire’ by allowing Kyiv’s forces to strike far into Russia with US-made weapons.
–Russia’s Ministry of Foreign Affairs reiterated that Ukraine’s use of long-range missiles to attack Russian territory would mark a radical escalation of the conflict, triggering ‘an adequate and tangible’ response.
Changes to Russia’s nuclear doctrine have been drawn up and just need to be formalised, according to Dmitry Peskov, the Kremlin’s press secretary.
–French President Emmanuel Macron said US President Joe Biden’s administration made a ‘good decision’ to allow Ukraine to use US-made weapons to strike inside Russia.
–Minister of Foreign Affairs Jean-Noel Barrot also signalled that allowing Kyiv to strike military targets inside Russia remained an option for France, which has provided long-range missiles to Ukraine.
–Polish President Andrzej Duda said the decision to allow Ukraine to use US-made weapons to strike deep into Russia may be a decisive moment in the war.
–A German government spokesperson said Berlin is sticking with its decision not to provide long-range missiles to Ukraine despite Washington’s move.
–Slovakian Prime Minister Robert Fico said he strongly opposes the US’s decision, calling it an ‘unprecedented escalation of tensions’ aimed at thwarting peace negotiations.
–Hungarian Foreign Minister Peter Szijjarto also labelled the move ‘astonishingly dangerous’.
–EU foreign policy chief Josep Borrell said he hopes the bloc can agree to allow Ukraine to use arms to strike inside Russia. He also expressed concerns about reports of Iran, North Korea and China producing and supplying weapons systems to Russia for its war in Ukraine.
–Ukraine says Russian Arsenal in Bryansk struck with ATACMS
–Reuters reported Ukraine used U.S.-supplied ATACMS missiles to strike an arsenal in Russia’s Bryansk region on Tuesday, a Ukrainian official source confirmed.
–Moscow said earlier that Ukraine had used ATACMS missiles to strike Russian territory for the first time, in an attack regarded by Russia as an escalation on the war’s 1,000th day.
–Leaders from the Group of 20 major economies, meeting in Brazil this week, issued a joint statement highlighting the suffering caused by conflicts in Gaza and Ukraine, reaching a narrow consensus on Russia’s escalating war focused on ‘human suffering’ and its economic fallout.
–German Chancellor Olaf Scholz said he will discuss the delivery of dual-use goods with Chinese President Xi Jinping at the G20, following a report that a Chinese factory is producing military drones for Russia. Scholz added he will also tell Xi it is unacceptable that North Korean soldiers are being deployed to fight Ukraine.
Speaking at the G20 Summit, South Korean President Yoon Suk-yeol urged North Korea and Russia to end what he said is their illegal military cooperation.
–Speaking on the sidelines of the G20 summit, British Prime Minister Keir Starmer has said support for Ukraine is ‘number one’ on his agenda.
–US Ambassador to the UN Linda Thomas-Greenfield said the US will announce additional security assistance for Ukraine in coming days.
–Estonian Foreign Minister Margus Tsahkna said Scholz’s call with Russian President Vladimir Putin was a ‘strategic mistake’ that weakened European unity in the face of Moscow’s war against Ukraine.

 

 

Tomorrow

 

NVIDIA Earnings after the close!

 

Quiet economic data and fed speak

 

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Daily Levels for November 20th 2024

9bc95a2f 91d9 4259 a00a 47545b0bceed

Economic Reports
provided by:ForexFactory.com
All times are Eastern Time ( New York)
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Good Trading!
About: Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities 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.
Contact
S
Cannon Trading Company
12100 Wilshire Boulevard
Suite 1640
Los Angeles, CA 90025
(800) 454-9572
Follow Us
Facebook  Twitter  Instagram
Visit Our Website

 

Bitcoin Futures vs. Nano Bitcoin Futures: Exploring Opportunities for Every Trader

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Bitcoin

Bitcoin Futures and Nano Bitcoin Futures

By Ilan Levy-Mayer

In recent years, Bitcoin futures have become an increasingly popular option for investors looking to engage in cryptocurrency markets without directly owning digital assets. Futures contracts are financial instruments that allow traders to speculate on the future price of an asset—in this case, Bitcoin. Through futures contracts, traders can gain exposure to Bitcoin’s price movements without holding any Bitcoin directly. This market offers two main types of futures: standard Bitcoin futures and Nano Bitcoin futures, both of which provide unique advantages to traders.

One reputable brokerage firm, Cannon Trading Company, has stood out for its commitment to high-quality service and excellent customer satisfaction. Established in 1988, Cannon Trading has earned a 5 out of 5-star rating on TrustPilot, making it a trusted platform for investors looking to trade Bitcoin futures and Nano Bitcoin futures. With no market data fees and $25 day trading margins for Nano Bitcoin futures, Cannon Trading offers competitive features for both experienced and new traders.

Bitcoin Futures

Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an unknown person or group under the pseudonym Satoshi Nakamoto. It operates on a decentralized network, where transactions are recorded on a blockchain—a digital ledger that allows for transparency and security without requiring a central authority.

Bitcoin futures are agreements to buy or sell a specific amount of Bitcoin at a predetermined price on a future date. Bitcoin futures trading provides traders with several benefits:

  • Leverage: Traders can control larger positions with smaller amounts of capital.
  • Hedging: Investors with Bitcoin holdings can hedge against price volatility.
  • Profit Opportunities: With Bitcoin futures, traders can speculate on both rising and falling markets, maximizing potential profit opportunities.

Bitcoin futures trading has become a powerful tool for traders who want to gain exposure to cryptocurrency markets without actually holding the asset. This reduces some of the technical and security challenges associated with directly holding Bitcoin, making futures Bitcoin trading an appealing alternative for those wary of managing digital wallets.

What Are Nano Bitcoin Futures?

Nano Bitcoin futures are a smaller, more accessible version of standard Bitcoin futures contracts, catering to traders who may not want to commit to the larger capital requirements associated with standard Bitcoin futures. Nano Bitcoin futures contracts are smaller in size, often representing a fraction of one Bitcoin, enabling traders to start with lower investments. They also allow traders to manage their positions with finer control, ideal for those who wish to practice risk management or diversify their exposure without the high stakes of full Bitcoin contracts.

Nano Bitcoin futures trading has quickly gained popularity for several reasons:

  • Low Entry Cost: Traders can start with much less capital.
  • Flexibility: Smaller contracts allow for more tailored strategies.
  • Lower Fees: Compared to standard contracts, trading futures for nano Bitcoin often incurs lower fees, making it an efficient choice for those looking to trade frequently.

By allowing traders to engage in the futures market on a smaller scale, Nano Bitcoin futures are democratizing access to the crypto markets. Whether for beginners or advanced traders, the flexibility of Nano Bitcoin futures provides a streamlined entry point to cryptocurrency futures trading.

Read the rest of the article, click here

 

 

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Daily Levels for November 19th 2024

6b099ff2 7810 40fc a709 664c53a840ae

Economic Reports
provided by:ForexFactory.com
All times are Eastern Time ( New York)
3ef17bbf 81f1 440b b619 5eae62476f62
Good Trading!
About: Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities 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.
Contact
S
Cannon Trading Company
12100 Wilshire Boulevard
Suite 1640
Los Angeles, CA 90025
(800) 454-9572
Follow Us
Facebook  Twitter  Instagram
Visit Our Website

 

DJIA Index Futures

The Dow Jones Industrial Average (DJIA), commonly known as the Dow, has long served as a benchmark for American stock market performance, capturing the movement of 30 prominent U.S. companies across various sectors. Since the inception of DJIA Index Futures, often referred to as Dow futures or Dow Jones futures, traders have had unique opportunities to speculate on the index’s movements, providing a way to manage risk and potentially earn profits based on the future value of the Dow. As the futures market evolved, DJIA Index Futures established themselves as some of the most versatile tools in a trader’s portfolio.

This article explores why DJIA Index Futures have remained a mainstay in the futures market, the key players involved in the development of the Dow Jones futures contract, and why Cannon Trading Company is an excellent brokerage for trading these futures contracts. With decades of expertise in futures trading and a reputation for exceptional customer service, Cannon Trading Company has earned its place as a premier option for traders looking to invest in DJIA Index Futures and emini Dow futures.

The Versatility of DJIA Index Futures for Futures Traders

DJIA Index Futures have demonstrated remarkable versatility since their introduction to the market. This versatility stems from several key factors:

  • Hedging Opportunities: One of the primary uses of DJIA Index Futures is to hedge against potential losses in the stock market. Institutional investors and portfolio managers use Dow futures to manage risk. For example, if a fund holds a large portfolio of U.S. stocks, a decline in the Dow could lead to losses. By holding short positions in DJIA Index Futures, fund managers can offset these losses, thereby protecting their assets and minimizing risk.
  • Leverage Potential: Futures contracts are highly leveraged instruments, allowing traders to control large amounts of underlying assets with a relatively small amount of capital. This characteristic makes DJIA Index Futures particularly attractive to traders who want to maximize their returns. Since futures leverage can amplify both gains and losses, traders are advised to approach it with caution and employ risk management strategies.
  • Speculative Opportunities: Beyond hedging, DJIA Index Futures offer substantial potential for speculation. By accurately predicting the direction of the Dow Jones Industrial Average, traders can capitalize on price movements. This is particularly valuable for day traders who look to profit from intraday volatility, as well as swing traders who seek to capture longer-term trends.
  • Liquidity and Market Access: DJIA Index Futures are among the most actively traded futures contracts globally, providing deep liquidity for traders. High liquidity enables traders to enter and exit positions quickly, with minimal slippage, enhancing the efficiency of trading strategies. The popularity of emini Dow futures, a miniaturized version of the standard contract, has further increased market accessibility, allowing smaller retail traders to participate in Dow futures trading.
  • Flexibility in Trading Hours: The DJIA Index Futures market operates nearly 24 hours a day, offering traders more flexibility than the traditional stock market. This round-the-clock trading access allows traders to react instantly to geopolitical events, economic data releases, or other market-moving factors. Thus, the ability to trade Dow Jones futures outside standard stock market hours makes them ideal for managing global events’ impact on U.S. markets.

The Inception of DJIA Index Futures

The idea of creating futures contracts based on major stock indices emerged in response to increased demand for risk management tools in the 1980s. The Chicago Board of Trade (CBOT) was instrumental in bringing this concept to life. The late Leo Melamed, a visionary in financial futures and a key figure at the Chicago Mercantile Exchange (CME), recognized the potential of introducing futures on financial indices. Working alongside industry pioneers, Melamed helped to popularize index futures as a way for investors to protect their portfolios from adverse movements in stock prices.

The initial success of the S&P 500 futures contract set the stage for further innovation in the market. The creation of DJIA Index Futures was a natural progression. In 1997, the CBOT launched the DJIA Index Futures contract, providing investors a means to speculate or hedge on the movements of one of the most well-known indices in the world. This product allowed for a diversified approach to futures trading, as it reflected the performance of the Dow Jones Industrial Average, a cornerstone of American financial markets.

While Melamed was a pivotal figure, the development and launch of DJIA Index Futures were collaborative efforts that involved input from regulators, financial institutions, and industry experts. Their goal was to create a futures product that mirrored the Dow Jones index and offered accessible, transparent, and efficient trading for institutions and retail investors alike.

Cannon Trading Company: An Ideal Partner for Trading DJIA Index Futures

With its reputation for excellence and over three decades of experience in futures trading, Cannon Trading Company has become a trusted broker for traders interested in DJIA Index Futures. Known for its high ratings on platforms like TrustPilot, where it maintains a 5-star rating, Cannon Trading Company has earned a solid reputation for customer service and reliability. Here’s why Cannon Trading Company is a standout choice for trading DJIA Index Futures and other futures contracts.

  • Expertise and Experience: Cannon Trading Company has specialized in futures markets for over 30 years, gaining expertise in navigating the complexities of futures trading. The brokerage’s deep industry knowledge is invaluable to traders, especially those trading Dow futures, who may require guidance on market trends, trading strategies, or risk management techniques.
  • Regulatory Compliance and Reputation: Cannon Trading Company adheres to strict regulatory standards, holding an excellent reputation with industry regulatory bodies. Compliance with industry regulations ensures that Cannon Trading Company maintains transparency, accountability, and protection of client funds—critical factors when choosing a brokerage for Dow Jones futures trading.
  • High-Quality Customer Service: Cannon Trading Company’s customer service team receives high praise for responsiveness, knowledge, and reliability. The brokerage’s dedication to client support, combined with its stellar TrustPilot ratings, reflects its commitment to providing a seamless trading experience. Whether traders need technical assistance, market insights, or guidance on emini Dow futures, Cannon’s customer service team is equipped to offer prompt and expert support.
  • Advanced Trading Platforms: Cannon Trading Company offers advanced trading platforms designed to meet the diverse needs of futures traders. From sophisticated charting tools to real-time data feeds, Cannon provides the resources necessary for traders to make informed decisions when trading DJIA Index Futures. Many of these platforms are customizable, allowing traders to tailor their trading interface to their unique preferences.
  • Educational Resources: For traders looking to improve their futures trading skills, Cannon Trading Company offers educational resources that cover a wide range of topics, including Dow Jones futures trading, emini Dow trading strategies, and risk management principles. This focus on education helps both novice and experienced traders make well-informed decisions when trading DJIA Index Futures.

Emini Dow Futures: A Popular Choice for Retail Traders

In addition to standard DJIA Index Futures, the introduction of emini Dow futures has expanded accessibility for retail traders. These miniaturized contracts represent a fraction of the size of traditional Dow futures, allowing traders with smaller capital to participate in Dow Jones futures trading. Emini Dow futures retain many of the features of standard contracts, including liquidity, leverage, and round-the-clock trading. Cannon Trading Company provides access to emini Dow futures, enabling retail traders to benefit from the versatility of Dow Jones futures without the large financial commitment of full-sized contracts.

Why Choose DJIA Index Futures?

As a futures trading instrument, DJIA Index Futures offer several advantages that make them popular among traders worldwide:

  • Diversification and Exposure to U.S. Markets: DJIA Index Futures offer exposure to 30 major U.S. companies, providing a diversified entry point into the U.S. stock market. For international traders, Dow futures present an efficient way to gain exposure to the American economy.
  • Adaptability to Different Trading Strategies: DJIA Index Futures can be used in various trading strategies, including hedging, speculation, and arbitrage. This adaptability makes them suitable for both institutional and retail traders, regardless of their investment objectives.
  • Ease of Trading During Market Downturns: Unlike traditional stock trading, which is challenging in declining markets, futures traders can easily take short positions in DJIA Index Futures, enabling them to profit from downward price movements.
  • Low Transaction Costs: Futures trading, including trading DJIA Index Futures, often has lower transaction costs compared to other types of financial instruments. Lower costs mean traders can focus more on their strategies without worrying as much about high commissions or fees.
  • Transparency and Standardization: DJIA Index Futures contracts are standardized, meaning that contract specifications, including expiration dates and contract sizes, are set by the exchange. This standardization provides transparency and simplifies the trading process for participants.

Since their inception, DJIA Index Futures have proven to be a valuable asset in the futures trading landscape. These contracts offer traders a unique combination of leverage, liquidity, and flexibility, making them suitable for a wide range of strategies, including hedging, speculation, and arbitrage. The versatility of Dow futures, combined with their close association with the U.S. stock market, has made them a go-to choice for traders seeking exposure to the American economy.

Cannon Trading Company’s dedication to providing a top-tier trading experience, combined with its 5-star TrustPilot rating, extensive experience, and regulatory compliance, makes it a highly recommended broker for trading DJIA Index Futures. With access to advanced trading platforms, educational resources, and high-quality customer service, Cannon Trading Company empowers traders to capitalize on opportunities in DJIA Index Futures and emini Dow futures with confidence.

Whether you’re a seasoned futures trader or just starting your journey with Dow Jones futures, the support and expertise offered by Cannon Trading Company make it a trustworthy partner for achieving your trading goals. DJIA Index Futures, with their unique attributes and market appeal, remain an indispensable tool for futures traders worldwide.

For more information, click here.

Ready to start trading futures? Call us at 1(800)454-9572 – Int’l (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

Futures Trader

A futures trader is a professional who buys and sells futures contracts on commodities, financial instruments, and other assets in order to profit from fluctuations in their price. Engaging in futures trading involves significant risk and complexity, but when done right, it can yield considerable rewards. However, to maintain a long-term career in futures trading, a trader must adhere to a set of core principles that promote sustainable growth and risk management. Key principles for longevity in this field include emotional control, adherence to trading plans, disciplined risk management, and an understanding of how to balance opportunity with caution. Futures trading is a demanding profession, and those who approach it without a structured approach often find themselves struggling to maintain consistency.

Emotional Control: The Backbone of Successful Futures Trading

One of the most critical principles for any futures trader is emotional control. The fast-paced nature of trading futures, coupled with the significant leverage available, can make it easy to fall into the traps of fear and greed. Emotional control allows traders to respond to market movements calmly rather than react impulsively, which is essential in avoiding irrational decisions that can lead to losses.

For instance, a futures trader may be tempted to double down on a losing position out of frustration or stubbornness, hoping to recoup losses. However, experienced traders know that emotional decisions are rarely profitable in the long term. Instead, successful futures traders have the discipline to cut losses when needed and avoid revenge trading — the tendency to try and “win back” losses through risky moves. Achieving emotional control is often about creating a mindset that recognizes that losses are a natural part of trading in futures and can be managed with a clear strategy.

While emotional control is vital, it can also conflict with the excitement of seizing opportunities. The futures market often presents fast-moving opportunities, and a futures trader may feel an impulse to “catch the wave” of a sudden price move. However, seasoned traders understand that making emotionally driven decisions rarely yields consistent profits. They approach each opportunity with a clear mind and refrain from overtrading, no matter how tempting it may feel in the moment.

The Role of a Trading Plan: Consistency and Structure

A trading plan is a carefully crafted roadmap that outlines a trader’s strategy, including entry and exit points, stop-loss levels, position sizes, and risk tolerance. For a futures trader, adhering to a trading plan is crucial for maintaining consistency in an environment known for its volatility. A trading plan helps remove the emotional component from decision-making, as it provides clear guidelines on how to react under different market conditions.

One of the most significant challenges that futures traders face is resisting the urge to deviate from their trading plans in pursuit of short-term gains. Trading in futures can sometimes feel unpredictable, and an unexpected market shift may lead traders to stray from their plan to try to capitalize on a sudden price movement. While the allure of quick profits can be strong, a successful futures trader recognizes the importance of sticking to the plan and avoiding impulsive trades that do not align with their long-term objectives.

For example, let’s say a futures trader sees an unexpected market rally that they did not anticipate in their plan. Jumping in impulsively could expose them to excessive risk and result in a significant loss if the market reverses. Instead, a disciplined futures trader will assess the situation and determine if the opportunity aligns with their trading criteria. If not, they will patiently wait for a setup that fits their plan. This adherence to a structured approach not only minimizes unnecessary risks but also helps in building a consistent track record over time.

Risk Management: Avoiding Overleveraging in Futures Trading

Risk management is arguably one of the most important principles for anyone involved in futures trading. Unlike other forms of trading, futures contracts are highly leveraged, allowing a futures trader to control large positions with a relatively small amount of capital. While this leverage can magnify profits, it also significantly increases the potential for losses. Proper risk management involves understanding the potential downside of each trade and implementing safeguards to protect capital.

One of the main ways to manage risk is by avoiding overleveraging. Overleveraging occurs when a trader takes on too large a position relative to their account size, which can lead to substantial losses if the market moves unfavorably. Many futures traders are tempted to overleverage in an attempt to maximize profits, but this approach often leads to a quick depletion of their capital. Instead, experienced traders limit their leverage to a level that allows them to weather market volatility without risking catastrophic losses.

Resisting overleveraging is critical, but it sometimes conflicts with a trader’s desire to take advantage of an attractive opportunity. For instance, if a futures trader identifies what they perceive as a high-probability trade, they may feel compelled to increase their leverage to maximize their gains. However, seasoned traders understand that any single trade carries risk, and overextending oneself on one trade can lead to financial trouble. The most successful futures traders balance their enthusiasm for opportunity with a disciplined approach to leverage, ensuring that they have enough capital to remain in the market for the long haul.

Choosing the Right Broker: The Value of Support and Expertise

While discipline and skill are essential, selecting a reliable futures broker is also a crucial decision for any futures trader. The right broker provides a foundation of support, from trade execution to customer service and technical troubleshooting. Cannon Trading Company, for instance, is known for its decades of experience in the futures markets, and with a 5 out of 5-star rating on TrustPilot, it has established a reputation for reliability and client satisfaction.

Working with a broker like Cannon Trading offers multiple advantages for futures traders trading futures. First, their extensive experience in the futures markets means they understand the nuances and challenges traders face daily. This insight allows them to provide valuable guidance and support, which can be especially beneficial for newer traders who are still learning the complexities of trading futures. Additionally, their high customer service ratings indicate a strong commitment to assisting clients promptly, which can be essential in the fast-paced world of futures trading where platform issues or trade execution delays can have financial consequences.

Cannon Trading’s dedication to customer service and troubleshooting helps traders focus on their strategies without the added stress of technical issues. In futures trading, having a broker who can resolve issues efficiently and provide ongoing support can be the difference between a successful trade and a missed opportunity. Cannon Trading’s ratings reflect their reliability in providing broker assistance, which is invaluable for futures traders who rely on quick access to information and a seamless trading experience.

Continuous Learning and Adaptability in Futures Trading

The futures markets are constantly evolving, with new technologies, strategies, and market conditions emerging regularly. For a futures trader to succeed over the long term, a commitment to continuous learning is essential. This could involve studying market trends, understanding new regulations, or refining trading strategies based on past experiences. A willingness to adapt and evolve as a trader ensures that one remains competitive and avoids becoming complacent.

Additionally, the support of a knowledgeable broker like Cannon Trading Company can aid in this learning process. With their years of experience, they can offer educational resources, insights, and market analysis that are beneficial to traders at all skill levels. Leveraging the resources provided by an experienced broker can help traders stay informed and make more educated decisions.

Balancing Discipline and Opportunity in Futures Trading

The life of a futures trader is a delicate balance between seizing opportunities and maintaining discipline. The desire to capitalize on favorable market conditions is natural, but without the guiding principles of emotional control, adherence to a trading plan, and disciplined risk management, traders may fall into habits that undermine their long-term success. Resisting the temptation to overleverage and choosing a trustworthy broker like Cannon Trading Company can further support a sustainable approach.

Futures trading is not a career suited to impulsive decision-making or excessive risk-taking. Traders who respect the markets, remain vigilant, and continuously refine their strategies have the best chances of success. The journey of a futures trader is marked by patience, adaptability, and a focus on consistent, incremental gains rather than high-stakes risks. By adhering to these core principles and leveraging the support of an experienced broker, traders can pursue a rewarding and sustainable career in the dynamic world of futures trading.

For more information, click here.

Ready to start trading futures? Call us at 1(800)454-9572 – Int’l (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

S and P 500 Futures Contract

The S and P 500 futures contract, commonly referred to as SPX index futures, is one of the most popular and actively traded stock market index futures. It represents a standardized agreement to buy or sell the value of the S&P 500 Index at a future date. With a focus on the performance of 500 large-cap U.S. companies, the SPX index futures contract serves as a barometer for the broader U.S. economy and is widely used by traders and investors to hedge portfolios or speculate on market direction. In this article, we’ll delve into the significance of the U.S. Presidential election on the S&P 500 futures contract, assess the impact of Trump’s hypothetical win on these futures, and explore the advantages of using a highly rated brokerage firm, Cannon Trading Company, for trading futures.

What Does the U.S. Presidential Election Mean for the S&P 500 Futures Contract?

U.S. Presidential elections significantly impact financial markets, with the S&P 500 and SPX index futures being among the most affected instruments. This is due to the perceived influence that presidential policies can have on the broader economy, specific sectors, and individual corporations. SPX index futures, representing the S&P 500 Index, are particularly sensitive to factors like economic stimulus, corporate taxation, regulatory policies, and trade relations—policies that can shift dramatically depending on which candidate wins the White House.

When a candidate from a business-friendly background, such as Trump, wins an election, it can lead to initial optimism in the stock market and a subsequent rally in S&P 500 futures. This optimism is often fueled by expectations of corporate tax cuts, deregulation, and pro-business policies that could directly boost corporate earnings and drive stock prices higher. On the other hand, uncertainty around foreign policy and global trade dynamics can introduce volatility, impacting SPX index futures as traders try to anticipate the broader implications for multinational corporations.

Historically, a Republican victory has often led to an initial bullish outlook on the SPX index futures due to the traditional pro-business stance associated with the party. However, this impact can vary depending on the incumbent’s unique policy mix, as seen with Trump’s focus on “America First” policies. A win for Trump in the 2024 election, for instance, would likely continue influencing investor sentiment, particularly in industries like manufacturing, energy, and defense, as well as in sectors that rely on reduced regulations.

Pros and Cons of S and P 500 Futures Contracts with Trump’s Victory

Trump’s victory could bring both advantages and disadvantages for S&P 500 futures contracts, creating both opportunities and risks for traders. Here’s a closer look at some potential pros and cons.

Pros

  • Potential for Corporate Tax Cuts and Deregulation: One of the most prominent benefits seen from Trump’s previous presidency was his emphasis on reducing corporate taxes and loosening regulatory requirements for businesses. A win for Trump would likely signal similar intentions, potentially boosting the profitability of U.S.-based companies. With higher earnings, stock valuations tend to rise, making SPX index futures attractive to traders who anticipate a bullish market.
  • Infrastructure Spending and Job Growth: Trump’s previous initiatives often included ambitious infrastructure spending plans, which he posited would lead to job growth and increased consumer spending. If Trump returns to office, a renewed focus on infrastructure could drive demand across multiple sectors, from construction to technology. This increased economic activity might provide a strong backdrop for the S&P 500 index, pushing SPX index futures higher.
  • Market Volatility and Trading Opportunities: Trump’s leadership style has historically brought volatility to financial markets. For active traders in S&P 500 futures contracts, such volatility can present a plethora of trading opportunities, as frequent market swings allow traders to capitalize on both upward and downward movements in SPX index futures.

Cons

  • Potential Trade Conflicts and Global Tensions: Trump’s previous term was marked by trade tensions, particularly with China. Renewed trade wars or heightened tariffs could negatively affect multinational companies, especially in sectors like technology, manufacturing, and agriculture. This uncertainty might cause sharp swings in SPX index futures, making it more challenging for traders to accurately predict market directions.
  • Uncertain Economic Policies and Fiscal Discipline: The potential for an expansionary fiscal policy focused on government spending might also increase concerns about the national debt. Increased federal spending and potential inflation concerns could contribute to volatility in the bond market, which can trickle into the S&P 500 and SPX index futures. Traders may need to exercise caution in response to fiscal policy announcements and inflation indicators.
  • Social and Political Instability: A win for Trump could also bring about societal polarization and potential civil unrest, which may have repercussions in the financial markets. Uncertainty in the political landscape often translates to market volatility, which could create unexpected swings in SPX index futures, challenging risk management for traders.

Why Choose Cannon Trading Company for Trading Futures?

For traders looking to capitalize on SPX index futures, selecting the right brokerage is essential. Cannon Trading Company, with decades of experience in the futures market and a reputation for excellence, has become a go-to option for both novice and seasoned traders. Here are several reasons why Cannon Trading Company stands out as a top choice for trading futures, especially S&P 500 futures contracts.

  • Unparalleled Expertise and Experience: Cannon Trading Company has a long-standing history in the futures market, with a team of professionals who understand the intricacies of SPX index futures and other stock market index futures. Their expertise enables them to provide valuable insights, helping traders make informed decisions based on real-time market data, technical analysis, and macroeconomic trends.
  • Exceptional Customer Ratings and Trustworthiness: With a perfect 5-star rating on TrustPilot, Cannon Trading has built a solid reputation for client satisfaction. Traders appreciate the company’s transparent and ethical practices, as evidenced by its regulatory compliance record. This trustworthiness is critical for futures traders who need confidence in their broker, especially when trading high-stakes instruments like SPX index futures.
  • Advanced Trading Platforms and Resources: Cannon Trading Company offers a wide array of trading platforms that cater to various trading styles and experience levels. Their platforms come equipped with sophisticated charting tools, analytical resources, and real-time data, allowing traders to stay updated on the performance of SPX index futures and other contracts. For example, their trading platforms offer advanced risk management features, allowing traders to set parameters that help protect against unexpected market swings.
  • Personalized Support and Education: The brokerage’s team goes above and beyond to support its clients, offering personalized guidance tailored to each trader’s goals and risk tolerance. For traders new to SPX index futures, Cannon Trading provides educational resources and training, helping them develop strategies suited to their trading style. This level of support can make a significant difference, especially during volatile periods.
  • Wide Range of Trading Instruments: Besides SPX index futures, Cannon Trading offers access to a variety of other stock market index futures, commodities, and options. This wide range enables traders to diversify their portfolios and explore different sectors, all while enjoying the convenience of trading with a single brokerage.

The Importance of SPX Index Futures for Traders

SPX index futures play a crucial role in financial markets by providing a way for traders to hedge against or speculate on the future direction of the S&P 500. These futures contracts enable traders to take advantage of market movements without needing to own individual stocks. This feature is particularly beneficial during periods of political uncertainty or economic volatility, as traders can quickly pivot their positions in response to changing market conditions.

Trading futures like the SPX index futures also offers advantages in terms of leverage, as traders only need to deposit a fraction of the contract’s value as collateral. This leverage allows traders to magnify their potential returns, though it also increases the risk, underscoring the importance of proper risk management and using a reputable brokerage like Cannon Trading Company.

The outcome of the U.S. Presidential election can have a profound impact on financial markets, especially on instruments like the S&P 500 futures contract, or SPX index futures. A Trump victory would likely bring renewed attention to pro-business policies, but it could also introduce additional volatility stemming from trade tensions, fiscal policy shifts, and political polarization. For traders, these dynamics underscore the importance of choosing a reliable and experienced brokerage.

Cannon Trading Company, with its decades of experience, high customer ratings on TrustPilot, and robust regulatory reputation, stands out as a top choice for trading futures. With personalized support, advanced trading platforms, and a commitment to transparency, Cannon Trading empowers traders to navigate the complex world of SPX index futures. For those looking to capitalize on the opportunities within the S&P 500 futures contract, a trusted brokerage like Cannon Trading can make all the difference in achieving trading success.

In a dynamic market landscape influenced by political events, having a solid foundation in SPX index futures and a supportive brokerage like Cannon Trading Company can provide traders with the tools and insights needed to make informed and strategic trades.

For more information, click here.

Ready to start trading futures? Call us at 1(800)454-9572 – Int’l (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.

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Face the Pros: Test Your Skills in a Simulated Trading Challenge

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C78

Trade Against a Pro

Prepare to face off against fellow traders and an industry pro

in a risk-free, simulated environment to see who comes out on top.

Challenge Details

Test-drive strategies with our range of futures, including standard- and Micro-sized contracts across Cryptocurrency, Equities, FX, Agriculture, Metals, Energy and Interest Rates. Gain valuable experience in a simulated, risk-free environment while trading against peers and industry professional Scott Bauer.

 

  • All trades during the competition will be completed in the Challenge Simulator.
  • All traders will begin with a virtual account of $100,000, aiming to maximize their balance by the competition’s close.
  • Cash prizes will be awarded to the top three eligible traders with the highest account balances in the Overall Leaderboard and also to the top trader from the Alternate Leaderboard (up to four total prizes available, each with a cash value as set forth to the right; traders are only eligible for one prize).

START NOW

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Ask a Broker: Why Trade Bitcoin Futures?

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Daily Levels for November 15th 2024

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Economic Reports
provided by:ForexFactory.com
All times are Eastern Time ( New York)
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Good Trading!
About: Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities 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.
Contact
S
Cannon Trading Company
12100 Wilshire Boulevard
Suite 1640
Los Angeles, CA 90025
(800) 454-9572
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Inflation Uptick and Bitcoin’s Surge: Navigating New Highs in Crypto and CPI

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CPI, Bitcoin New highs and More!

By Mark O’Brien, Senior Broker

 

General: 

 

Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday.

The consumer price index, which measures costs across a spectrum of goods and services, increased 0.2% for the month. That took the 12-month inflation rate to 2.6%, up 0.2 percentage point from September.

 

Excluding food and energy, the move was even more pronounced. The core CPI accelerated 0.3% for the month and was at 3.3% annually.

 

Both upticks were in line with economists’ expectations.

 

Next up, tomorrow at 7:30 A.M., Central Time, the Bureau of Labor Statistics releases its latest reading on prices at the wholesale level: its Producer Price Index.

 

Energy:  

 

Dec. crude oil traded briefly below $67.00 per barrel today for the second day in row – prices not seen in a couple of weeks.  Crude oil prices have stayed under pressure most of the year as China, the world’s second-largest economy and leading crude oil importer, has endured a sluggish post-Covid recovery in demand.

 

OPEC has been considering an unwinding of OPEC+ supply cuts in 2025 – if gradually.  In September, OPEC+ postponed plans to begin steadily rolling back on the 2.2 million-barrel-per-day voluntary cut by two months in an effort to stem the slide of oil prices.  The 2.2 million bpd cut, which was implemented over the second and third quarters, had been due to expire at the end of September.

 

Even if OPEC+ doesn’t unwind the cuts, the future of prices is still looking bleak as key oil producers outside the OPEC alliance like the U.S., Canada, Guyana and Brazil are also planning to add supply.

 

The forecast for oil demand next year has hovered near the 1-million barrel-per-day level.

 

Crypto:  

 

December Bitcoin futures continued its powerful upward price move today, puncturing 90,000 with an intraday high of 94,795, a ±$20,000 per contract move in just seven trading days to its latest all-time highs.  Traders believe the record-run in the world’s largest cryptocurrency is poised for even more gains on the back of U.S. elections that saw a swell of pro-crypto candidates win office in the Senate and House of Representatives.

 

TRY trading micro bitcoin futures in demo mode!

 

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Daily Levels for November 14th 2024

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Economic Reports
provided by:ForexFactory.com
All times are Eastern Time ( New York)
2751ca52 5ef8 44af b38f f4aeb9a84b07
Good Trading!
About: Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities 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.
Contact
S
Cannon Trading Company
12100 Wilshire Boulevard
Suite 1640
Los Angeles, CA 90025
(800) 454-9572
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Visit Our Website

 

Bull Market Pause: Equity Stalls, Crypto Surges with Presidential Boost

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Bitcoin1

Movers and shakers!

By John Thorpe, Senior Broker

 

While in the current Bull market, the equity Indices stalled today in likely anticipation of tomorrows CPI. Another bull, Crypto, has a slightly different motivation and that is the warmth of president elect Trump’s endorsement of the crypto industry. Crypto has once again captured many an imagination, here are some data points you may be interested in about Bitcoin Futures ( and MICRO Bitcoin futures):

  • During the election 4 years ago, Bitcoin was trading near $14K, Ether around $560 and the suite traded a total of close to 11K contracts ($761M)
  • Nearly 2/3 of volume was traded before the US open, twice what we typically see, as traders were accessing our markets
  • Compared to 4 years ago, there was shift in volume distribution from Prop to now HF trading as paper continues to enter the space
  • By EOD on the 6th the suite traded a record $16B, over 20x more than last election
  • Ranked #2 in total contracts traded (until yesterday)
  • Total OI was a record $18.4B, with various other records primarily in the bitcoin products
  • These figures underscore the robust liquidity, client demand and trust in our crypto market place
  • NOW: Bitcoin trading at record of around $88K
  • 20% increase from just a week ago heading into the elections (+500% since prior election)
  • Ether trading around $3,300, +35% from last week, +490% vs. prior election
  • Bitcoin & Ether futures continue to reach new OI records,
  • Both hit OI records Friday
  • Yesterday we topped the Friday total notional OI record by over 20%
  • Micros are trading a combined ADV in November is nearly double that of Oct
  • Volatility is below YTD averages, margins remain steady for both
  • It’s the 1 year anniversary of CME becoming the leading exchange for Bitcoin Futures Notional Open Interest

 

Today’s News:

Updated: November 12, 2024 7:55 am

Redbook Weekly US Retail Sales Headline Recap

 

**Redbook Weekly US Retail Sales were +4.8% in the first week of November 2024 vs November 2023

**Redbook Weekly US Retail Sales were +4.8% in the week ending November 9th vs yr ago week

 

 

Watch Tomorrow’s Movers and Shakers:

 

 

CPI Consumer Price Index @ 7:30 am CDT.

 

CPI Consensus Outlook

More of the same is the call with a familiar 0.2 percent increase for total CPI on the month and a 0.3 percent rise for the core. Year on year, forecasts center on 2.6 percent for total CPI, up from 2.4 percent in September, and the consensus looks for a 3.3 percent increase for the core. Reports like this have been making investors restless about lack of progress toward the 2 percent target.

Earnings: After the close 233 Billion Market cap Cisco Systems reports. A total of 203 companies report

 

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Daily Levels for November 13th 2024

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Economic Reports
provided by:ForexFactory.com
All times are Eastern Time ( New York)
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Good Trading!
About: Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities 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.
Contact
S
Cannon Trading Company
12100 Wilshire Boulevard
Suite 1640
Los Angeles, CA 90025
(800) 454-9572
Follow Us
Facebook  Twitter  Instagram
Visit Our Website

 

Election Highs and Market Surprises: Navigating the 2024 Bull Run

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This bull market has a story behind it.

11 November 2024

By GalTrades.com

This bull market has a story behind it.

  • SPX rose 22.44 points (0.38%) to 5,995.54 to     end the week up 4.66%; posted its best weekly gain of the year.
  • Dow Jones     Industrial Average® ($DJI)     added 259.65 points (0.59%) to 43,988.99 to end the week up 4.61%
  • Nasdaq     Composite®($COMP)     climbed 17.31 points (0.09%) to 19,286.78 to end the week up 5.74%.
  • 10-year     Treasury note yield (TNX)     fell four basis points to 4.31%, but the 2-year yield added three basis     points to 4.25%. Shorter-term yields, which are more closely connected to     near-term rate policy, gained on longer-term ones this week.
  • Cboe     Volatility Index® (VIX)     fell to 14.99, near a two-month low.

The S&P500 is above 6,000 at the time of this writing, as the rally to record highs continued. Interestingly, the yield on the 10-Year Treasury is pacing to finish the week lower despite a huge swing higher in reaction to the election outcome. Donald Trump’s victory has caused bank and industrial stocks to surge on the expectations of less regulation and a pro-business environment. Technology stocks are a notable underperformer Friday, with all the Magnificent 7 in the red except for Tesla.

Did anyone predict the market will up so much with a trump victory? I was following lots of analyst and portfolio managers in order to understand what to expect from the markets with a Trump or Kamala victory. And no one predicted the markets will go up as much as they did with a Trump win. In fact, there were lots of predictions the markets will sell off after the elections.

So now what? From what I read it was institutional money that drove the markets up and not retail investors. And that should be a positive for the markets. From a near-term perspective, new all-time highs are bullish, and we haven’t yet seen any evidence that the post-election rally is exhausted. The bearish view would likely cite a near-term overbought technical status and a valuation that has become even more stretched. I do feel the markets are stretched and it’s always healthy to have a pull back, parabolic moves tend to have a rubber band effect. Trade with caution. On top of the Trump rally, we got a ¼ point rate cut from the FED; which finally sent bond yields down a bit. Keep a close eye on the 10 year this week and going fwd. Respect the uptrend, that’s what I keep hearing.

We remove the risk of higher corporate tax under Trump or higher regulations, but Valuations for the S&P is at 22.5, that’s a bit stretched. And earnings estimates have been getting trimmed the last few months.

So, if we’re overbought, what can be a catalyst that will trigger some kind of cool off? The CPI/PPI reports this week have the potential to create a “profit taking” excuse, regardless of the data, given the recent rally. It may Jostle the trend for the short term.

Usually when the dollar rallies it’s not a positive for equity markets.

Financial ETF XLF slated for best day in two years

Bank shares got a boost with JPMorgan Chase climbing 11.5% and Wells Fargo jumping 13%. The SPDR S&P Regional Bank ETF (KRE)continued to climb in midday trading and is now up about 12%.

Credit card stocks soar

Two leading credit card companies were among the top performing stocks in the S&P 500 in early trading, according to FactSet. Shares of Discover Financial jumped 22%, while Capital One popped about 17%.

Solar stocks sold off Wednesday ETF TAN Republicans won control of the Senate, amid fears the Inflation Reduction Act, which helps fund clean energy manufacturing in the U.S., will be repealed.

The small-cap benchmark Russell 2000 surged, hitting a 52-week high. Small companies, which are more domestic-oriented and cyclical, are believed to enjoy outsized benefits from Trump’s tax cuts and protectionist policies. Trump is viewed as supporting lower corporate tax rates, deregulation, and industrial policies that favor domestic growth, all of which could provide more stimulus to the U.S. economy and benefit risk assets

Historically speaking, stocks rallied into year-end from Election Day. However, the S&P 500 and Russell 2000 perform even better during presidential election years, while the Nasdaq Composite does worse.

Goldman Sachs’ Kostin says earnings growth will drive stocks higher into 2025

“Robust earnings growth should drive continued equity market appreciation into next year,” he wrote in a Wednesday note. “We forecast EPS growth of 11% in 2025 and 7% in 2026, although those estimates may change as the new administration’s policy agenda comes into clarity.” Kostin’s team is keeping its 12-month S&P 500 target of 6,300, suggesting upside of about 9% from Tuesday’s close. The magnitude of the rally in stocks could be curtailed by a sharp rise in the 10-year Treasury yield, the strategist said.

Futures:

Bitcoin, which could benefit from relaxed regulation, soared to an all-time high and topped $76,000. The dollar index climbed to its highest level since July on the belief that Trump’s proposed tariffs against major U.S. trading partners would boost the greenback. The 10-year Treasury yield jumped to around 4.43% on speculation Trump’s proposed tax cuts and other spending plans would spark economic growth, but also widen the fiscal deficit and reignite inflation.

Dollar at overbought levels, says strategist

On a technical level, the dollar has cleared the 104 resistance level, leaving the 106-107 level as the next major hurdle to overcome.

“Momentum is confirming the breakout but is overbought short-term. Support for pullbacks sets up at 104 and the 200-day moving average at 103.85,” said LPL Financial chief technical strategist Adam Turnquist.

Corn futures (/ZCZ24) closed higher to end the past week (+0.82%) with the December contract trading at highs last seen in late June. The USDA in its November World Agricultural Supply and Demands Estimates (WASDE) report estimated U.S. corn production at 15.143 billion bushels. This was below October’s 15.204 billion bushel estimate and below average analysts’ estimates for 15.190 billion bushels.

Cotton futures (/CTZ24) posted modest declines on Friday (–0.10%) after the USDA lowered U.S. cotton export projections by 200,000 bales to 11.3 million bales. The USDA also raised U.S. ending stocks projection by 200,000 bales to 4.3 million bales.

Crude oil futures (/CLZ24) ended the past week in the red as U.S. oil inventories posted a larger than expected build during the reporting period.

In its Weekly Petroleum Status Report, the Energy Information Administration (EIA) said crude oil stockpiles increased by 2.1 million barrels during the week ending November 1. This was above expectations for a 1.8-million-barrel build.

U.S. oil production remained unchanged last week and averaged 13.5 million barrels per day. This was up 300,000 barrels per day from one year ago.

On the oil product side, distillate inventories increased by 2.9 million barrels, contrary to market expectations for a 1.5-million-barrel draw. Distillate inventories are now 6% below the five-year average for this time of year.

Gasoline inventories rose by 400,000 barrels, contrary to forecasts for a 1.6-million-barrel draw. These stockpiles are now 2% below the five-year average.

EIA said gasoline production increased modestly from the previous week and averaged 9.7 million barrels per day. Distillate production also increased versus last week, averaging 5.1 million barrels per day.

The agency also reported that U.S. ethanol production increased last week, averaging 1.105 million barrels per day. Expectations were for 1.096 million barrels per day.

Ethanol inventories increased last week to 22 million barrels. Traders were expecting inventories of 22.4 million barrels.

Bonds: a run to 5% on the 10-year Treasury has been a level that gave markets pause in the recent past.”

China: China stock ETF drops amid Trump tariff fears. China-related stocks felt additional pain Friday on yet another disappointing stimulus update. What the market wants to see is the Chinese government put cash directly in the hands of people to boost consumption.

Earnings:

If you’ve been listening to companies’ post-earnings conference calls. Manufacturing has been weak, and there’s a freight recession.

FactSet pegged third-quarter S&P 500 EPS growth at 5.3% year over year, up from 5.1% a week ago. With 91% of companies reporting, 75% have delivered a positive earnings surprise and 60% have reported a positive revenue surprise.

It’s a quieter week of earnings with only 9 companies in the S&P 500 scheduled to report. Within the portfolio, Home Depot reports before the opening bell Tuesday and Disney before the opening bell Wednesday. Other notable companies reporting are Shopify, Tyson Foods, AstraZeneca, Spotify, Occidental, Cisco, Advance Auto Parts, Applied Materials, and Alibaba. Earnings may be on the lighter side.

  • Monday     (11/11): Monday.com     Ltd. (MNDY), Zeta Global Holdings Corp. (ZETA), Assured Guaranty Ltd.     (AGO)
  • Tuesday     (11/12): Home Depot     Inc. (HD), AstraZeneca (AZN), Sea Ltd. (SE), Live Nation Entertainment     Inc. (LYV), Tyson Foods (TSN), On Holdings (ONON), Spotify Technology SA     (SPOT), Suncor Energy, Occidental Petroleum (OXY), Cava Group (CAVA)
  • Wednesday     (11/13): CyberArk     Software Ltd. (CYBR), Cisco Systems Inc. (CSCO), Tetra Tech Inc. (TTEK),     Helmerich and Payne Inc. (HP)
  • Thursday     (11/14): Walt     Disney Co. (DIS), JD.com Inc. (JD), NetEase Inc. (NTES), Applied Materials     (AMAT), Post Holdings (POST)
  • Friday     (11/15): Alibaba     Group (BABA), Spectrum Brands Holdings (SPB)

Economic reports:

It’s a heavy week of economic data for inflation and consumer spending. On Wednesday there is the consumer price index (CPI) report and the next day we’ll see the producer price index (PPI) report. The October retail sales report is Friday.

  • Monday     (11/11): No     reports
  • Tuesday     (11/12): NFIB Small     Business Optimism
  • Wednesday     (11/13): Consumer     Price Index (CPI), Core CPI, EIA Crude Oil Inventories, MBA Mortgage     Applications Index, Treasury Budget
  • Thursday     (11/14): Continuing     Claims, Producer Price Index (PPI), core PPI, EIA Natural Gas Inventories,     Initial Claims
  • Friday     (11/15): Business     Inventories, Capacity Utilization, Export Prices, Import Prices,     Industrial Production, NY Fed Empire State Manufacturing, Retail Sales

 

 

Technical analysis:

The Russell 2000 index (RUT) gapped up 5.8% to fresh two-year highs on Wednesday despite a corresponding significant jump in bond yields. Furthermore, the index has held its ground, with only some minor consolidation following that move, which is characteristically bullish price action. The only near-term flag is that the Russell’s RSI is currently sitting at a slightly (overbought) level of 72.

Market Breadth:

SPX breadth lifted to 75.15% from 69.74%, the CCMP moved up to 50.83% from 45.13%, and the RTY jumped to 66.74% from 55.43%.

Trading stocks, commodity futures and options involves a substantial risk of loss. The information here is of opinion only and do not guarantee any profits. Past performances are not necessarily indicative of future results.

 

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Daily Levels for November 12th 2024

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Economic Reports
provided by:ForexFactory.com
All times are Eastern Time ( New York)
64c19515 a67e 4ac5 8ab7 58acd291f1f9
Good Trading!
About: Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities 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.
Contact
S
Cannon Trading Company
12100 Wilshire Boulevard
Suite 1640
Los Angeles, CA 90025
(800) 454-9572
Follow Us
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Visit Our Website

 

Weekly Newsletter: The Week Ahead in Futures Trading + Trading Levels for Nov. 11th

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Veterans Day

Cannon Futures Weekly Letter Issue # 1216

In this issue:

  • Important Notices – Veteran’s Day, CPI, PPI
  • Futures 102 – Trading Contest – REAL CASH Prizes
  • Hot Market of the Week – July-Dec. Corn Spread
  • Broker’s Trading System of the Week – Nikkei 225 Swing System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

Important Notices – Next Week Highlights:

 

The Week Ahead

By John Thorpe, Senior Broker

  • Veterans Day Monday the Banks, Bond market and Federal officers are closed,
  • 13 Fed Speakers Powell on Thursday!
  • 821 earnings
  • CPI Wed, PPI Thursday!

 

Futures 101: Ask a Broker!!

Spread Trading?

Spread Trading

 

Futures 102: Trading Contest – Trade Against the Pro!

Challenge Details

Test-drive strategies with our range of futures, including standard- and Micro-sized contracts across Cryptocurrency, Equities, FX, Agriculture, Metals, Energy and Interest Rates. Gain valuable experience in a simulated, risk-free environment while trading against peers and industry professional Scott Bauer.

GET STARTED!

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    • Hot Market of the Week – July -Dec Corn Spread

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.

FREE TRIAL AVAILABLE

July -Dec Corn Spread

The July – Dec corn spread satisfied its second upside PriceCount objective early last month and corrected. Now, the chart is poised to resume its rally where new sustained highs would project a possible run to the 11.75 area.

 

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.

   Broker’s 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.

DaGGoR Rider M1C NQ

PRODUCT

NQ – Mini NASDAQ

 

SYSTEM TYPE

Swing Trading

 

Recommended Cannon Trading Starting Capital

$40,000

 

COST

USD 150 / monthly

 

Get Started

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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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Daily Levels for November 11th, 2024

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Weekly Levels for the week of November 11th, 2024

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Trading Reports for Next Week

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