Here is a subject that a lot of people don’t understand at all. Day Trading can be risky. So, it is something that you should stay away from unless and until you are absolutely sure about what you are doing.
There are a number of items about Day Trading such as the minimum mantaince requirementand more that need to be taken into consideration. With the blogs and write-ups listed in this section, you can learn a great deal about day trading.
We at Cannon Trading can help you understand the different concepts of trading and present you with the latest information on the same. Our team of professional and smart people can help you in your day trading transactions and more. In order to understand day trading more clearly, we advise that you go through all the write-ups listed in this category archive on Day Trading.
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Stock Index December contracts (i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.) expire Friday, December 20th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any December futures contracts through 8:30 A.M., Central Time on Friday, Dec. 20th, they will be offset with the cash settlement price, as set by the exchange.
FRONT MONTH IS NOW MARCH , the symbol is H25, example for Micro mini SP is MESH25
The month code for March is ‘H.’ Please consider carefully how you place orders when changing over.
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.
*Dates and times are subject to change
If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010
More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html
Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours
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.
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Explore trading methods. Register Here* 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.
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The Day After FOMC – What will the Markets Do?
By Mark O’Brien, Senior Broker
General:
The Federal Reserve lowered interest rates by a quarter percentage point today, lowering the Fed’s benchmark federal-funds rate to a range between 4.25% and 4.5%, a two-year low.
“Today was a closer call but we decided it was the right call,” Powell told reporters at its post-announcement press conference. “It was the best decision to foster achievement of both of our goals,” referring to price stability and maximum employment.
The Fed cut rates at its two previous meetings, beginning with a half-percentage-point reduction in September and a quarter-point cut last month.
The Federal Reserve downgraded its view of how inflation will progress next year. Back in September officials had penciled in around four cuts next year. New projections released Wednesday show officials expect to make fewer rate reductions next year. Most penciled in two cuts for 2025 if the economy grows steadily and inflation continues to decline.
Stock Indexes:
The Dec. E-mini Dow Jones futures contract and its related cash index are approaching a fifty-year record with today’s sell-off capping a 10-day losing streak – its worst since an 11-day slide in 1974. Despite the streak, the Dow sits roughly 5% from an all-time high.
Stock index futures across the board sold off after the announcement. The Dec. E-mini S&P 500 has fallen ±160 points / ± 2.6% as of this typing, moving further away from its all-time closing high 6096.75 on Dec. 4.
Crypto:
After trading intraday yesterday to yet another all-time high of 108,960, December Bitcoin futures have fallen ±8000 points below 10100 late this session.
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.
Listen to our podcast: Subscribe on Apple, Spotify, Amazon, or wherever you listen to podcasts!
Movers and shakers!
By John Thorpe, Senior Broker
The Equity markets got a little less frothy today ahead of the Final rate decision; prices down marginally. Some SMA crossovers are showing a downside break is in store for the DOW Index. Not so for the S & P or Nasdaq Indices. Although the S&P does not appear to be poised for a breakdown like the Dow, (range bound for the past 3 weeks) NQ’s story is a little different and the Magnificent 7 have continue to fuel the endless rally with only a minor 6/10th’s of a percentage correction. My personal view is this is simply a retail selling opportunity in advance of the FOMC results tomorrow, I call it a little “risk off”.
Energies, Grains, Metals, softs are all closing on the negative for the day with very few exceptions within the complexes.
US Advance Retail Sales Headline Recap
**US November Advance Retail Sales: +0.7%; expected +0.6%
**US November Advance Retail Sales ex Autos: +0.2%; expected +0.4%
**US revised October Retail Sales: +0.5% from +0.4%
Redbook Weekly US Retail Sales Headline Recap
**Redbook Weekly US Retail Sales were +4.5% in the first two weeks of December 2024 vs December 2023
**Redbook Weekly US Retail Sales were +4.8% in the week ending December 14th vs yr ago week
Redbook Weekly US Retail Sales Headline Recap
**Redbook Weekly US Retail Sales were +6.5% in the first week of September 2024 vs September 2023
**Redbook Weekly US Retail Sales were +6.5% in the week ending September 7 vs yr ago week
Updated: December 17, 2024 8:15 am
Federal Reserve US Industrial Production & Capacity Utilization Headline Recap
**Federal Reserve November US Industrial Production: -0.1%; expected +0.2%
**Federal Reserve November US Capacity Utilization: 76.8%; expected 77.2%
**Federal Reserve October US Industrial Production revised: -0.4%; prior -0.3%
**Federal Reserve October US Capacity Utilization revised: 77.0%; prior 77.1%
Updated: December 17, 2024 9:38 am
**US House Speaker Johnson Tuesday morning said the stopgap funding bill will have $10 billion for US farmers
Updated: September 10, 2024 12:49 pm
Watch Tomorrow’s Movers and Shakers:
Fed Funds FOMC Rate decision @ 1P.M. Central with 1:30 PM Presser with J. Powell to follow.
Consensus Outlook:
The US Federal Reserve will announce their FOMC policy statement Wednesday afternoon around 1:00 pm CT. Many economists expect the FOMC to lower the key Fed Funds rate by 25 basis points, to a range between 4.25% to 4.50%. However, after Tuesday’s strong November US retail sales data showed underlying economic momentum, pundits are wondering if the Fed may signal a cautious, slowing pace of interest rate cuts in 2025.
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.
If you like a demo ( and did not have a demo of StoneX Futures yet) CLICK HERE
In the mean time, your E-Futures platform will stay active until a date no earlier than Fri., Dec. 27th, with a firm decommission date to be announced
Important Notices – Next Week Highlights:
The Week Ahead
By John Thorpe, Senior Broker
122 corporate earnings reports and a number of meaningful Economic data releases including Core Personal Consumption and Expenditures Index (PCE) a closely watched Data point for the FED.Additionally, The final fed funds rate decision of 2024 will be announced on Wed. Dec. 18th, to be followed by Chairman Powell’s presser 30 minutes later.Below are the Rate change Probabilities as of this morning from the CME Fedwatch tool.
Thur. Jobless claims, Core PCR, GDP Final, Philly Fed, Conference Board Leading Economic Indicators, Existing Home Sales
Fri. Core PCE Price Index, Personal Income
For stock index futures traders, it’s time to “roll over” and start trading the March ’25 futures contracts. This Friday, Dec. 20th at 8:30 A.M., Central Time, the Dec. ’24 futures contracts will officially halt trading and the exchange will cash settle all open positions.
Futures 102: Daily Research Free Trial
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Get qualified support and resistance levels for precise risk management on different commodity markets.
Get pivot points that highlight shifts in the futures market momentum.
Get technical forecasts to keep you on the right side of a specific commodity trading market.
One on One “Daily Digest” with a dedicated series 3 professional.
Hot Market of the Week
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
The rally in March sugar ran out of momentum and the chart has been trending lower since. If the chart can sustain its break from here, the second downside PriceCount projects a possible run to the 20.16 area. It would take a trade below the September reactionary low to formally negate the remaining unmet upside count which would also be consistent with targeting the third downside count.
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
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
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.
Would you like to receive daily support & resistance levels?
* 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.
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.
Listen to our podcast: Subscribe on Apple, Spotify, Amazon, or wherever you listen to podcasts!
Movers and shakers!
By Mark O’Brien, Senior Broker
General:
Fresh inflation data was released this morning, giving Federal Reserve officials one last glimpse at how their battle against inflation is progressing as they prepare for their final interest rate decision of 2024 next week. The November Consumer Price Index climbed 2.7% percent year-over-year. While this was in line with economists’ expectations, the report was a reminder that the central bank has yet to achieve a full victory.
Fed policymakers will decide whether or not to cut interest rates for a third and final time this year at their Dec. 17-18 gathering, and they will also release a fresh set of economic projections for 2025.
The Fed aims for 2 percent yearly inflation, although they define that goal using a separate but related index, the Personal Consumption Expenditures measure. That will come out on Dec. 20, so this is the last big inflation report officials will have in hand before their meeting.
Stock Indexes:
Today, the Dec. E-mini Nasdaq futures rose over 400 points – an $8,000 per contract move – and above 21,800 to its latest all-time high. Still yet to close above 6100 despite trading intraday above that mark five of the last six sessions, including today, the E-mini S&P 500 is within single-digit points of closing at its own all-time high, surpassing the 6096.75 close last Friday, Dec. 6.
Crypto:
December Bitcoin futures once again pierced the $100,000 level with today’s ±$5,000/±5.25 move up and is set to post its latest all-time closing price after closing at $101,580 last Friday, Dec. 6. As of this typing, Dec. Bitcoin is trading at $102,150.
Energy:
January natural gas jumped over 20 cents per million British thermal units (MMBtu) – a $2,000 per contract move) in its largest single-day move in months. The rally coincides with colder weather sweeping across the Midwest and Northeast. Overnight and 3-5-day forecasts are trending colder and boosting near-term demand.
Softs:
Yesterday, March coffee futures traded up to all-time highs – above a 1977 price point – as analysts and traders expect crops in Brazil and Vietnam – the world’s two largest producers – to shrink. Brazil experienced one of its worst droughts in 70 years during August and September, followed by heavy rains in October, raising fears that the flowering crop could fail. Vietnam’s crops experienced a similar weather cycle. One of the most heavily leveraged futures contracts: each one-cent move is $375, the March contract has sot up ±$1.00 per pound – from its $2.42 close on Nov. 1 to its $3.34 close yesterday, a ±$34,500 per contract move. Coffee is the world’s second most traded commodity by volume, after crude oil.
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.
Listen to our podcast: Subscribe on Apple, Spotify, Amazon, or wherever you listen to podcasts!
Movers and shakers!
By John Thorpe, Senior Broker
Equities prices were mostly flat as traders are anticipating tomorrow mornings CPI release at 7:30 CT.
Iran’s oil minister has been elected as OPEC President for 2025, Crude prices are holding steady in the 68.25 / bbl area
…as Gold surged again in the face of some dollar weakness.
Supply concerns are affecting Cocoa prices as the mid year West African cocoa crop outlook has deteriorated (April) as dry conditions will hurt the early development of the crop. ICE-monitored cocoa inventories held in US ports have been trending lower for the past 1-1/2 years and fell to a 20-year low Monday of 1,487,243 bags. Also, 23/24 stocks to Grindings report reflect a 46-low. March Cocoa was up 476 or $4760.00 per contract to close at 10557 basis the march contract.
Monthly WASDE was released today, here is a quick synopsis: World Corn carryout was much smaller than previously reported. 296.44 mmt vs 304.14 mmt providing continued bullish sentiment from the August lows. March 25 Corn surged 7 and ¼ cents.
Watch Tomorrow’s Movers and Shakers:
CPI Consumer Price Index @ 7:30 am CDT.
Consensus Outlook
How we wish the inflation numbers were improving! Forecasters expect headline CPI to show increases of 0.3 percent on the month and 2.7 percent on the year for November versus 0.2 percent and 2.6 percent in October. The core is expected at a sticky 0.3 percent and 3.3 percent on the year, the same as in October and September. With readings like this, the expectation for the December Fed policy meeting remains split between a 25 bp cut and no action, although the latest soft-ish jobs report underpins rising expectations for 25.
Earnings: Adobe will be the feature, otherwise very quiet, only 19 firms reporting
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.
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.
Important Notices – Earnings, CPI, WASDE, The Week Ahead.
Futures 102 – Crude Oil Outlook + Premium Daily Research
Hot Market of the Week – March 10 Year Notes
Broker’s Trading System of the Week – Mid Cap 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
294 corporate earnings reports and a number of meaningful Economic data releases including Consumer Price Index (CPI) and Producer Price Index (PPI). It’s also the beginning of the Fed Blackout period and the Monthly USDA World Agriculture Supply and Demand (WASDE)report will also be next week!
Prominent Earnings Next Week:
Mon. Oracle , post close
Tue. Gamestop
Wed. Adobe
Thu. Broadcom, Costco
Fri. quiet
FED SPEECHES:
This is the Fed Black out period in advance of the Dec 18th, Yearend, Fed Meeting. According to the CME FedWatch Tool as of today, Dec 6th , There is an 87.1 % likelihood of a .25 basis cut from the current Fed Funds rate of 4.50-4.75 range, during the upcoming meeting, Therefore a 12.9 % probability of remaining steady with no change.
Economic Data week:
Mon. Wholesale Inventories, Consumer Inflation Index
Tues. NFIB Business Optimism Index , Redbook, WASDE
Wed. CPI
Thur. PPI, Jobless claims
Fri. Export Prices
Futures 101: Ask a Broker!!
Projecting Targets
Futures 102: Crude Oil In Depth Analysis
Get Personalized Trading Reports Like the One Above Directly to your Inbox!
Get qualified support and resistance levels for precise risk management on different commodity markets.
Get pivot points that highlight shifts in the futures market momentum.
Get technical forecasts to keep you on the right side of a specific commodity trading market.
One on One “Daily Digest” with a dedicated series 3 professional.
Hot Market of the Week
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
The rally in the March 10 Year completed its first upside PriceCount objective last month and consolidated its trade. Now, the chart has resumed its rally where the second count projects a possible run to the 111^31 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
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
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.
Would you like to receive daily support & resistance levels?
* 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.
*Dates and times are subject to change
If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010
