All traders will begin with a virtual account of $100,000.00 Your goal: increase the balance to as much as possible by the conclusion of the competition.
Top three traders with the highest P&L balance at the end will get a cash prize.
One winner will be chosen from the remaining participants to receive a cash prize.
The prizes to the winners shall be awarded in the form of a check (or any other form as reasonably determined by StoneX) and sent to the winner within ten business days of receiving the required tax documentation.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Volume in the September contracts will begin to drop off until their expiration Friday, September 15th (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 September futures contracts through 8:30 A.M., Central Time on Friday, Sept. 15th, they will be offset with the cash settlement price, as set by the exchange.
Monday, September 18th is Last Trading Day for September currency futures. It is of the utmost importance for currency traders to exit all September futures contracts by Friday, September 15th and to start trading the December futures. Currency futures are DELIVERABLE contracts.
The month code for December is ‘Z.’ Please consider carefully how you place orders when changing over.
Watch the video below on how to rollover your market depth and charts!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
What you need to know before trading futures tomorrow – September 7th 2023 ,
by Mark O’Brien, Senior Broker
General:
We’re a couple of weeks away from the next meeting of the Federal Reserve when Fed. chair Jerome Powell and fellow board members will determine where the Federal Funds Rate – the central bank’s key borrowing rate – should be set.
After raising rates eleven consecutive times ending in May, then holding off in June, the Central Bank raised interest rates by 25 basis points in July setting the borrowing rate at a range of 5.25% to 5.50% – the highest level at which Fed Funds have been set since 2001.
How does that compare to other countries’ central bank moves. Here’s a table showing the moves made over the last two years by nine others compared to the United States’.
General, cont.
Keep an eye out for markets trading near multi-month or multi-year extremes for the future price moves.
→ At ±27 cents / pound sugar (March) is trading near 11-year highs.
→ At ±$3,650 / ton cocoa (Dec.) is trading near 12-year highs.
→ Trading below $1.50 / lb. coffee is trading near 2-year lows.
→ Almost this entire calendar year, natural gas has been floating between 2.50 and 2.00 / million BTU’s just above all-time lows below $2.00 posted in June 2020.
Energy:
Prospects of the U.S. economy avoiding a hard recession have helped lift oil demand and prices in recent months. Then traders took in last week’s report that voluntary cuts to world crude oil supplies by Russia and Saudi Arabia would be extended from September to year’s end – with the pronouncement that other OPEC+ countries may follow suit. That sent crude oil futures prices on a renewed upward pace with the October contract breaching $88.00 per barrel intraday yesterday and today- hitting 10-month highs. Alongside the West Texas Intermediate contract, Nov. Brent Crude oil futures traded on ICE Europe topped $90.00 per barrel.
Heads up:
Crude oil numbers are OUT tomorrow, 11 Am Eastern time.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
What you need to know before trading futures tomorrow – September 6th 2023
by Ilan Levy-Mayer, VP
ISM PMI is out tomorrow.
Crude oil numbers will NOT be out tomorrow like normally do, due to the Labor Day weekend, these numbers will be released Thursday 30 minutes after the natural gas numbers.
Most of the last few sessions in stock index futures have been extremely choppy. This will sometimes happen ahead of a strong breakout….the million $ question is which way…..
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
As the duel between the United States and China continues, seemingly on several fronts, a new sign emerged the first half of the year: China’s imports to the U.S. accounted for the smallest percentage of goods arriving here in 20 years. Just 13.3% of all imports to the U.S. came from China the first half of 2023. Compare that to its peak of 21.6% for all of 2017 and its low point of 12.1% in 2013. The downturn is not due to any list of stand-out products or industries, nor has any country or small number of countries jumped up to import a bigger share of anything. Rather, slow-moving supply chain shifts across dozens of industries and nations are driving the trend. When the dollar values of exports and imports are combined, Mexico is now America’s no. 1 trading partner, followed by Canada, pushing China to third place.
Last Thursday, the Labor Department reported the consumer-price index increased 0.2% in July, the same as in June. That is down sharply year-over-year looking at the 1.2% gain in June 2022. If the downward trend continues – now over a year from its June 2022 peak reading of 9.1%, inflation is on a path to draw near the Federal Reserve’s 2% target by late 2023 or early 2024.
What could stand in the way of that trend? Geopolitical events and weather could impact food and energy prices.
After Saudi Arabia and Russia announced reductions in their oil production last month, unleaded gas prices, which tend to lag behind crude oil prices, traded to 1-year highs on Friday (basis September) within less than two cents of $3.00 per gallon.
Further regarding Russia, last month it withdrew from a deal that allowed Ukraine to export grain through the Black Sea and has since attacked key port facilities in Odesa. Ukraine is one of the world’s largest grain suppliers including 13% of global corn exports and the 12% of wheat.
Add to all this, scientists watching the periodic climate pattern called El Niño are now anticipating it arriving this winter more likely as “moderate,” and possibly a “strong” event than how they assessed conditions in May. Ocean surface temperatures in the central Pacific Ocean have warmed enough off the coast of South America to trigger an El Niño, meaning possibly a warmer, dryer winter here in the U.S. and higher temperatures globally. This can cause disruptions to crops in some of the world’s most important commodities sources.
Keltner Channels, Volume Charts, Algo Signals – Trade Set Up
Watch the 5 minute video below in which I share a trading set up I like, using volume charts, candle sticks, Keltner Channels and proprietary ALGOs for trading signals.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Trading Resource of the Week – Trading Key Economic reports
Hot Market of the Week – September Crude Oil
Broker’s Trading System of the Week – NQ Day Trading System
Trading Levels for Next Week
Trading Reports for Next Week
Trading Resource of the Week – Trading Key Economic Reports
As a trader, you will come across many factors that you must consider before entering or exiting the markets. Some of the most important aspects to look for are economic events that can move the markets drastically one way or another.
There are many types of economic events including releases by a governing body, changes in sales or consumption of commodities, and increases in supply and demand. All of these can affect the markets you trade, making it important for you to know how and when these changes are happening.
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.
September Crude Oil completed it’s first upside PriceCount objective and had a brief break. At this point, if the market can maintain the bullish tone, the next upside PriceCount objective comes at 89.31
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.
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.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Rest of the Trading Week, by Mark O’Brien, Senior Broker
General:
The answer is: Germany, Denmark, Netherlands, Sweden, Norway, Switzerland, Luxembourg, Singapore and Australia.
The question is: name the remaining countries whose credit is rated AAA by all three ratings companies – S&P Global, Fitch and Moody’s – after Fitch downgraded the United States’ debt rating from its top-tier AAA, down to AA+.
Among the contributing factors leading to the downgrade, Fitch cited, “the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance . . . that has manifested in repeated debt limit standoffs and last-minute resolutions.”
Remember in 2011, even though at that time a debt-limit deal was reached, S&P Global lowered the U.S.’s credit rating from AAA down to AA+ and it has not recovered since.
Canada is rated AAA by two of the ratings companies.
Stock Indexes:
Probably not surprisingly, as of this typing, stock indexes reacted negatively to the ratings news with the E-mini Dow Jones losing more than 300 points, roughly a 2% haircut. The E-mini Nasdaq is off ±325 points, a similar 2% correction.
Energy:
As the stock market foundered, crude oil felt weak in the knees as well and by mid-session, the September contract had sold off $3.00 per barrel from its Sunday opening. This despite today’s EIA crude oil stocks report showing a 17 million barrel reduction in U.S. crude stocks; the largest drop in inventories since 1982.
Grains:
After trading within 13 cents of its April 2022 highs last week, November soybeans factored in an expected conga line of wet weather fronts moving broadly over the U.S. Midwest and sold off ±$1.00 down to ±$13.25/bushel, a $5,000 per contract move, the bulk of which comprised just three trading sessions. Estimates for this year’s crop are a virtual wild card given the approach of August, its most critical growing period, so expect volatile price movement throughout.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
As expected, today Federal Reserve officials raised interest rates by 25 basis points. This puts the Federal Funds Rate – the central bank’s key borrowing rate – at a range of 5.25 to 5.50. This is the highest level at which Fed Funds have been set since 2001. The vote was unanimous among the Fed governors to take this latest step in the bank’s efforts to rein in inflation and cool the economy. This increase is the latest in the fed’s months-long effort to rachet up borrowing costs resulting in a reduction in demand for goods, services and labor in the economy.
WTI crude oil has been repeatedly plumbing its lows of the year between $67 and $70 per barrel the entire second quarter. Yesterday it traded within 10 cents of $80.00 per barrel intraday (basis Sept.) to 3-month highs – a solid ±$12 per barrel move this month; a ±$12,000 per contract move. Analysts largely attribute the increase to recently announced output cuts by Saudi Arabia and Russia.
September soybeans traded up 21 ¼ cents today to this crop year’s and life-of-contract highs, closing at $15.56 ½ per bushel. The current rally off it’s late-May lows just above $12.00 per bushel (a ±$17,500 per contract move) reflect the continued sentiment that U.S. soybean crop conditions will continue to deteriorate as harvest approaches.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Taking a look at a relatively bigger picture of the world’s growth – or lack thereof – below you’ll find a list of natural resource commodities and their performance over the first half of the year.
The list is certainly metals-centric and no softs (cocoa, sugar, cotton, coffee, orange juice) or livestock were included. Nevertheless, it illustrates the broad theme of the global economy, in which the world’s leading demand engine – China – has experienced at best a sputtering recovery after nearly three years of pandemic-related falloff.
Notice just two: lithium and gold were the only ones heading into the second half of 2023 with positive returns.
Noteworthy is gold’s hold on to positive returns attributable to the relatively stable U.S. dollar and steady demand by the world’s central banks, which is likely to persist as long as the risk of recession remains for the big players – China, Europe and the U.S. – and high-quality, liquid assets remain desirable. Compare gold to crude oil, which despite output cuts by OPEC+ countries and forecasts for demand to continue outpacing supply into 2024, has stayed negatively impacted by stalled economies.
Watch video below on ways to project exits on trades.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Trading Resource of the Week – Trading 101 Video: Where are my Targets?
Hot Market of the Week – July Oats
Broker’s Trading System of the Week – NEW Crude Oil Trading System
Trading Levels for Next Week
Trading Reports for Next Week
Important Notices – Juneteenth Holiday Hours
Monday, June 19, 2023 US bank will be closed in observance of Juneteenth. There will be no money transactions Wires, ACH, Internal transfer and or currency conversion.
Watch the video below to get an idea on how to use Fibonacci extensions along with candle sticks to project possible price targets.
Try a FREE demo of the platform used to show the charts in this educational article. The platform is FREE and has charts, news, DOM, T&S, Alerts, advanced order entry, options and MUCH MORE!
A Cannon broker will be able to assist, provide feedback and answer any questions.
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.
July Oats finally stabilized their slide last month and then activated upside PriceCount objectives on the correction higher. Chart is satisfied its first count to $3.81 where it would be normal to get a near-term reaction in a form of consolidation or corrective trade. If you can sustain for the strength from here, the second count would project the possible run to the $4.10 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.
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.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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.
