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Category: Future Trading News

As a high risk trading type, futures trading is not for someone who is faint-hearted. Though there are a number of different ways of investing in futures , it is important to stick to what you know. Treading into unknown waters is not something that you should do when dealing in futures.

From managing margins to ordering trades to doing market analysis and more if you want to, you can do that all by yourself – but you may betaking double the risk. Therefore, when trading in futures, it may be better to seek advice from a professional trader.

Professional trading experts at Cannon Trading can help you with your futures trading. We are also there to keep you updated with the latest on futures trading and market news. All the news and latest articles on futures trading are published on our site under the category Archive Futures Trading News, which you are currently browsing through. Read more and the latest here and keep updated.

Complacency CRACK: A Semiconductor Scare Breaks the Calm PLUS: December Corn, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on July 21st, 2026

Posted on July 20, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	3954.70	3982.40	4014.20	4041.90	4073.70
Silver (SI) — Sept. (#SI)	54.72	55.68	56.72	57.67	58.71
Crude Oil (CL) — Aug (#CL)	77.18	79.80	82.20	84.82	87.22
Sept. Bonds (ZB) — Sept. (#ZB)	110	110 11/32	110 28/32	111 7/32	111 24/32

The Complacency Crack: A Semiconductor Scare Breaks the Calm

By Eli Levy, Senior Analyst & Series 3 Broker

semiconductor

Bottom Line

For most of the year, this market has climbed a remarkably quiet staircase. This week, it discovered the elevator shaft.

Semiconductors

The unwind started where the crowd was most comfortable: semiconductors. It kicked off Monday with SK Hynix’s largest single-day drop on record after a downbeat read on memory pricing and HBM4 shipments, and the pain didn’t stay contained. Micron (MU) finished the week down roughly 10% and SanDisk about 24%; the broader complex followed, with the SOX index — and ETFs that track it like SMH and SOXX — logging their worst week since March 2025. Even beat-and-raise quarters from Taiwan Semiconductor (TSM) and ASML couldn’t hold their stocks up.

Stocks/AI

By Friday the selling had spread out of chips and into the megacaps, with Netflix (NFLX) tumbling roughly 8–11% on soft guidance and Nvidia (NVDA) and Alphabet (GOOGL) both lower. The S&P 500 (SPX) closed the week around 7,457, off about 1.6%, slipping below its 50-day moving average while still holding the 200-day line it has defended since April. The Nasdaq fell about 2.5%. Faced with a fast-moving set of questions about the AI growth story, investors adopted a simple posture: sell now, ask questions later.

And the questions are real. Corporate budgets are visibly shifting toward AI infrastructure — the abruptness of that shift showed up violently in IBM’s roughly 25% one-day collapse, its worst in decades, as clients redirected spending away from software toward chips and memory.

Chinese labs are releasing cheaper, competitive models; new memory supply is heading toward IPO; and enterprises are quietly moving from spending on tokens at any cost toward squeezing more out of the tokens they already buy.

Crude Oil

Layer on oil — WTI crude up double digits on the week to its highest since mid-June as the U.S.–Iran standoff tightened around the Strait of Hormuz — and you have the combination that unsettles a richly valued market: uncertain returns on the biggest spending theme, plus a fresh inflation tail.

Stock Indices

But that’s only one side of the story, and the other side is genuinely strong. Underneath the volatility, this was an excellent earnings week. The big banks posted historic numbers — JPMorgan (JPM) profit up 41%, Goldman Sachs (GS) up 78% on record equities trading and an all-time-high stock, Bank of America (BAC) up 27%, Citigroup (C) up 45%, Wells Fargo (WFC) up 17%. Of the roughly four dozen S&P 500 names that have reported, the vast majority beat on both the top and bottom lines.

The rally has been broadening rather than narrowing: the equal-weight S&P is outpacing the cap-weight version for the year, S&P breadth sits at its highest since late 2024, and the money that left chips rotated straight into energy, insurers, health care and value — Travelers (TRV) jumped nearly 8% on earnings, and transports like J.B. Hunt (JBHT) led. That is what a healthy, widening market looks like: leadership changing hands rather than simply collapsing. Even bonds offered reassurance — despite the oil spike, the 10-year Treasury yield drifted lower on a flight-to-safety bid, closing near 4.54%.

Final Thoughs

So, the tape leaves us with a divided picture rather than a verdict. On one shoulder sits a de-risking, not a breakdown — a semiconductor-specific scare inside a broadening advance, with the 200-day line intact and earnings humming. On the other sits a list of risks stacking up at once: AI return-on-investment doubts, an oil-driven inflation and rates threat, and a market that had grown comfortable at the highs.

Next week is light on economic data but heavy on earnings — with Alphabet (GOOGL) reporting Wednesday against already-elevated capex guidance of $180–190B — which should tell us which shoulder the market decides to lean on.

For now, we do what we always do: watch the levels, respect the rotation, and let the tape lead.

READ THE REST and SEE CHARTS

December Corn

After activating upside PriceCount objectives last week, December corn gapped into a new high to begin this week’s trade. If the chart can sustain further strength, the first count would project a possible run to the $4.95 area. A trade above the May reactionary high would formally negate the remaining unmet downside counts.

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.

Cannon Edge — Your Daily Futures Snapshot for July 21st

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

· Current price and daily % change

· 30‑day and 52‑week highs/lows

· PROPRIETARY Short‑term and long‑term trend signals

· Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 21st, 2026

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

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The Week Ahead: CPI, PPI, Iran PLUS: Trading Signals, Futures 102, Options 303, Corn Spread Chart, CannonEdge Snapshot, Levels, Reports; Your 10 Important Can’t-Miss Need-To-Knows for Trading Futures the Week of July 13th, 2026

Posted on July 10, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1298

The Week Ahead – Humphrey Hawkins Testimony, CPI, PPI, Iran
Trading Signals!
Futures 102 – The Daily Briefing – What the Pros Know Before Trading
Options 303: Selling Options premium & More!
September Wheat Corn Spread Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	4052.50	4086.20	4115.40	4149.10	4178.30
Silver (SI) — Sept. (#SI)	58.25	59.12	60.20	61.16	62.15
Crude Oil (CL) — Aug (#CL)	69.44	70.50	71.83	72.89	74.22
Sept. Bonds (ZB) — Sept. (#ZB)	110 23/32	111	111 10/32	111 19/32	111 29/32

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

cpi

The Week Ahead

We have everything needed to move the market next week as we do expect increased volatility daily from earnings reports to Fed Speakers and Government data releases. This, in addition to the lasting uncertainty in the Middle East. The key futures market news for next week’s trading focuses on

1. Heavy economic Data points including measures of inflation, CPI, PPI, Michigan Consumer Sentiment.

2. Humphrey Hawkins testimony, 12 Fed speakers including Chair Warsh’s Congressional testimony.

3. The Q2 corporate earnings lift off with over 2 trillion dollars in banking market cap on Tuesday before the open featuring, JPMorgan, BofA, Goldman, Citi and Wells followed by Wednesday’s premarket menu of over 1 trillion dollars in banking market cap featuring Morgan Stanley, BlackRock, Bank of NY, PNC and M&T with consumer goods nameplate Johnson and Johnson mixed in.

Don’t sleep on the banks earnings, Netflix after the close on Thursday announces it’s Q2 results. Additionally, Alcoa also announces after the close. Of note: if I counted correctly, 29 banks report, I have only listed the largest of them below.

Big bi-annual Humphrey -Hawkins Testimony to both the U.S.House on Tuesday and the U.S. Senate on Wednesday. This is the second and final this year, required monetary policy testimony for the Fed Chair. Powell presided in February, while this will be the first of many for Chairman Kevin Warsh. Typically, the House testimony moves the markets more than the Senate testimony. When Does It Peak?

Volatility occurs in two main waves:

The Prepared Remarks (Instant Spike): The initial release of the written Monetary Policy Report causes immediate, sharp price swings as traders react to the hard data.
The Q&A (Extended Fluctuations): This is where investors expect the most volatility. If the Fed Chair makes an off-the-cuff, “hawkish” remark (hinting at interest rate hikes to fight inflation), stocks usually drop. If they make a “dovish” remark (hinting at rate cuts or stimulus), stocks typically rise. (Federal Reserve Bank of Cleveland)

Who can trust the fragile Islamabad Memorandum of Understanding? Is this now null and void? Will Peace talks resume after the paused week-long funeral for former Supreme Leader Ayatollah Ali Khamenei?

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy’s, metals, securities and interest rates are swirling in the uncertainty from a lack of resolution in the attempted unwinding of the Iranian nuclear program. The 60-day window to hammer out a deal has now less than 26 days to get done, or will there be none.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Fastenal, FB Financial, Greenbrier Companies

· Tue. JP Morgan, B of A, Goldman Sachs, CitiGroup, Wells Fargo,

· Wed. J & J, Morgan Stanley, BlackRock, Bank of NY, PNC Bank, Cintas, M&T Bank, Inited Airlines, Conagra Foods

· Thu. Netflix, Alcoa, United Healthcare, GE Aerospace, Abbott, Intuitive Surgical, ProLogis, US Bancorp, Truist, State Street

· Fri. Travelers Companies, Fifth Third Bancorp

Fed Speakers: (all times CDT)

· Mon. 11:30 am Waller,

· Tues. 9:00 am Fed Chair Warsh House Testimony for the Monetary Policy Report, 11:40 am Barr, Noon, Goolsbee, 12:30 pm Cook, 1:55 pm Bowman

· Wed. 7:45 am Williams, 9:00 am Fed Chair Warsh Senate Testimony, Noon Cook, 5:30 pm Musalem

· Thu. 11:30 am Logan, 6:00 pm Jefferson

· Fri. Quiet

Econ Data:

· Mon. S&P Services , ISM Services,

· Tue. CPI, Redbook, ADP Weekly, API Crude stock change

· Wed. PPI, , EIA Crude stock Change, Beige Book

· Thu. Retail Sales, Initial Jobless claims, Philly Fed, EIA Nat Gas Stocks, NAHB Housing market index,

· Fri. Building Permits, Housing Starts, Industrial Production, Michigan Consumer Sentiment, Baker Hughes Oil Rig Count

Get a daily market edge—support & resistance levels plus key market-moving insights.

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Real-time intraday signals delivered directly through Sierra Chart or TradingView
Clear entries, exits, and trend bias based on objective, rules-driven logic
Tools designed to help you structure your trading day with more discipline and consistency
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The Diamond ALGO and indicators family – applicable to any market at any time frame
One-on-one remote session to get you started
Online meeting invitation if you need any help with installation

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Futures Options Writing

Have you ever wondered who sells the futures options that most people buy? These people are known as the option writers/sellers. Their sole objective is to collect the premium paid by the option buyer. Option writing can also be used for hedging purposes and reducing risk. An option writer has the exact opposite to gain as the option buyer.

The writer has unlimited risk and a limited profit potential, which is the premium of the option minus commissions. When writing naked futures options your risk is unlimited, without the use of stops. This is why we recommend exiting positions once a market trades through an area you perceived as strong support or resistance. So why would anyone want to write an option? Here are a few reasons:

Most futures options expire worthless and out of the money. Therefore, the option writer is collecting the premium the option buyer paid.
There are three ways to win as an option writer. A market can go in the direction you thought, it can trade sideways and in a channel, or it can even go slowly against you but not through your strike price. The advantage is time decay.
The writer believes the futures contract will not reach a certain strike price by the expiration date of the option. This is known as naked option selling.
To hedge against a futures position. For example: someone who goes long cocoa at 850 can write a 900 strike price call option with about one month of time until option expiration. This allows you to collect the premium of the call option if cocoa settles below 900, based on option expiration. It also allows you to make a profit on the actual futures contract between 851 and 900. This strategy also lowers your margin on the trade and should cocoa continue lower to 800, you at least collect some premium on the option you wrote. Risk lies if cocoa continues to decline because you only collect a certain amount of premium and the futures contract has unlimited risk the lower it goes.

Selling options premium or “options writing” is an advance, sometimes unlimited risk strategy and not suitable for everyone!! read more and download PDF “cheat Sheet” HERE.

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

That intelligence stays locked inside trading desks, institutional terminals, and private client portals — accessible only to the few who pay for the privilege, and even they only get what they pay for.

This briefing changes that (100% FREE on Cannon’s website!!). Every morning we scour the open web and aggregate everything that matters — pulling from publicly available sources so you never have to — and distill it into one clear, readable edition you can get through before your first coffee is finished.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Read the Latest Briefing HERE and make sure to Bookmark this page!

Wheat Corn Spread

Some professional futures traders prefer trading spreads—both intraday and swing—because spreads can reduce outright market risk while still offering opportunities for consistent returns. By trading the price relationship between two related contracts rather than a single direction, traders can benefit from relative value inefficiencies, seasonal patterns, and supply-demand imbalances. Intraday spread trading often provides smoother price action and tighter risk control, while swing trading spreads can capitalize on longer-term structural trends with lower volatility compared to outright positions. Additionally, spreads typically require lower margin and can be less sensitive to macro shocks, making them an appealing strategy for disciplined risk management and more stable performance.

That being said – spread trading is risky just like futures trading and past performance is not indicative of future results.

In today’s chart review, you will see an idea/ outlook of a swing trade between the Corn and wheat.

Some INTRA day traders will day trade gold vs silver, MNQ versus MES, ten years vs the 30 years and more….

Curious?

Learn more here or even better schedule a one on one consultation with a licensed series 3 broker HERE

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for July 13th, 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of Automated trading systems ?

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Daily Levels for July 13th, 2026

Trading Reports for Next Week

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

www.mrci.com

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E-Mini S&P 500 amidst Market Volatility PLUS: Pre-Market Briefing, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on July 10th, 2026

Posted on July 9, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	4029.40	4080.40	4114.40	4165.40	4199.40
Silver (SI) — Sept. (#SI)	56.70	58.52	59.78	61.60	62.85
Crude Oil (CL) — Aug (#CL)	69.07	70.44	72.78	74.15	76.49
Sept. Bonds (ZB) — Sept. (#ZB)	110 13/32	110 28/32	111 7/32	111 22/32	112 1/32

E-Mini S&P 500 amidst Market Volatility

CannonEdge Market Trend Table

Market volatility remains elevated, and many futures markets continue to trade in a choppy environment without a clearly defined trend.

One of the best tools available to traders in these conditions is the Cannon Edge Market Trend Table below. If you’re looking to identify markets with stronger directional momentum, focus on those where the short-term and long-term trends are aligned. When both trends point in the same direction, it can help highlight markets exhibiting greater consistency and potential trading opportunities.

Yesterday, the E-mini S&P 500 (ES/EP) was the only market meeting this criterion.

Today, it rewarded traders with a gain of nearly 1%. ( see image below)

As always, our experienced Series 3 licensed brokers are available to help you navigate the futures markets, discuss trading opportunities, and answer any questions you may have.

Trade Smarter. Trade with the Cannon Edge.

September Cocoa

September Cocoa resumed its rally into a new high for the move. At this point, the chart is taking aim at its low percentage fourth upside PriceCount objective to the 7431 area.

Learn more at www.qtchartoftheday.com

Cannon Edge — Your Daily Futures Snapshot for July 10th

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

· Current price and daily % change

· 30‑day and 52‑week highs/lows

· PROPRIETARY Short‑term and long‑term trend signals

· Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 10th, 2026

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

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Understanding Futures Spreads PLUS: Sept – Dec Corn Spread, Pre-Market Briefing, CannonEdge Snapshot, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures on July 9th, 2026

Posted on July 8, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	3976.23	4032.17	4088.43	4144.37	4200.63
Silver (SI) — Sept. (#SI)	55.43	57.10	59.28	60.95	63.13
Crude Oil (CL) — Aug (#CL)	69.68	71.94	74.01	76.27	78.34
Sept. Bonds (ZB) — Sept. (#ZB)	110 15/32	110 26/32	111 5/32	111 16/32	111 27/32

Understanding Futures Spreads

futures spreads

Course Overview

This course covers the definition of futures spread trades and why you may want to add spreads to your trading strategy. We will discuss the benefits of spread trading which include potential less risk and cost efficiencies. This course will introduce the different types of spreads used with various products.

START HERE – FREE -NO CREDIT CARD NEEDED

Sept – Dec Corn Spread

The Sept – Dec Corn Spread has broken down into a new low. If the chart can sustain further weakness, the third downside PriceCount projects a possible slide to the -25 area.

Learn more at www.qtchartoftheday.com

Cannon Edge — Your Daily Futures Snapshot for July 9th

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

· Current price and daily % change

· 30‑day and 52‑week highs/lows

· PROPRIETARY Short‑term and long‑term trend signals

· Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 9th, 2026

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

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Tomorrow’s FOMC Minutes: What to Watch For PLUS: September Rough Rice, CannonEdge Snapshot, Pre-Market Briefing TEXT & PODCAST, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures on July 8th, 2026

Posted on July 7, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	4050.00	4087.00	4139.70	4176.70	4229.40
Silver (SI) — Sept. (#SI)	58.28	59.45	61.02	62.19	63.76
Crude Oil (CL) — Aug (#CL)	67.11	69.56	71.04	73.49	74.97
Sept. Bonds (ZB) — Sept. (#ZB)	110 24/32	111 3/32	111 26/32	112 5/32	112 28/32

Futures Traders: What to Watch Ahead of Tomorrow’s FOMC Minutes

fomc

The Federal Reserve will release the minutes from its June 16-17 FOMC meeting on Wednesday at 2:00 PM ET, giving traders a deeper look inside the discussion that led policymakers to keep rates unchanged. [federalreserve.gov], [federalreserve.gov]

While the rate decision itself is old news, futures markets will be focused on what the minutes reveal about the balance of opinion inside the Fed.

Traders will be looking for clues on:

How concerned policymakers remain about inflation.
Whether committee members are becoming more worried about slowing economic growth.
The extent of disagreement among Fed officials regarding the path of interest rates.
What conditions could trigger future rate cuts—or potentially delay them. [goldsilver.com], [fxstreet.com]

Markets Most Likely to React

Interest rate futures, Treasury futures, stock index futures, gold, and the U.S. dollar could all see increased volatility immediately following the release. Traders should pay particular attention to Fed Funds futures and Treasury yields, which often provide the clearest read on how the market interprets the Fed’s message. [fxstreet.com], [rockstarmarkets.com]

Key Question: Hawkish or Dovish?

If the minutes suggest the committee remains highly concerned about inflation and willing to keep rates elevated for longer, markets may interpret the release as hawkish. That could pressure equity index futures while supporting the dollar and yields.

Conversely, if discussions reveal growing concern about economic softness or labor market weakness, traders may view the minutes as dovish, potentially supporting stock index futures and precious metals while weighing on the dollar. [goldsilver.com], [mtsinsights.com]

Bottom Line

The minutes won’t change policy, but they can significantly alter expectations about future policy. In today’s environment, where every data point is scrutinized for clues about the Fed’s next move, futures traders should be prepared for increased volatility and sharp reactions across multiple asset classes after the release.

As always, managing position size and risk ahead of major Fed events remains just as important as correctly predicting the market’s direction.

Trade The News?

In today’s fast-moving futures markets, news isn’t just information—it’s opportunity ( and RISK!).

Economic releases, central bank headlines, geopolitical developments, twits and unexpected data surprises can trigger rapid price movements in indices, commodities, and rates, giving prepared traders an edge in both short-term setups and high-probability day trades.

The key is getting accurate, actionable news in real time—before the market fully reacts. That’s where TradeTheNews comes in, delivering low-latency headlines and expert context trusted by professional traders worldwide. If you’re serious about using news to sharpen your edge and improve your timing, sign up for a free trial at TradeTheNews.com and experience the difference yourself.

September Rough Rice

September Rough Rice satisfied its first upside PriceCount objective this spring and corrected. Now, the chart is attempting to resume its rally where new sustained highs would project a run to the second count to the 1439 area.

Learn more at www.qtchartoftheday.com

Cannon Edge — Your Daily Futures Snapshot for July 8th

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets.

Each post delivers:

· Current price and daily % change

· 30‑day and 52‑week highs/lows

· PROPRIETARY Short‑term and long‑term trend signals

· Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 8th, 2026

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

Find us on Trustpilot

Call Now

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Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

Futures: Rotation, Not Retreat PLUS: PHLX/KOSPI/SOX, 3:2:1 Crack Spread, Levels, Reports; Your 7 Important Can’t-Miss Need-To-Knows for Trading Futures on July 7th, 2026

Posted on July 6, 2026 by Cannon Operations

Futures: Rotation, Not Retreat

By Eli Levy, Senior Analyst & Series 3 Broker

futures

The New Quarter Begins

The new quarter arrived with a jolt. After a first half where the AI and semiconductor trade did much of the heavy lifting, this week saw that same corner of the market hit with selling pressure and real volatility — and notably, it happened even as oil prices eased and yields drifted lower. The pressure wasn’t about the macro backdrop turning hostile; it was about money in motion, rotating out of the most crowded trades and looking for a home elsewhere.

PHLX/KOSPI/SOX

The numbers tell the story. The PHLX Semiconductor Index (SOX) fell roughly 12% over just two sessions, pressured in part by a sharp overnight drop in Korea’s KOSPI, which shed 7.89% in one session. On one side of the coin, this looks like a long-overdue mean reversion: the SOX rallied nearly 100% in the first six months of the year, a parabolic run that arguably needed to cool.

Mircron

Micron’s reaction last week was a tell — the stock traded poorly on massive volume despite reporting, and the optical names tied to the AI build-out have been rolling over alongside it. On the other side of the coin, sharp pullbacks inside a longer-term uptrend have repeatedly turned out to be buying opportunities, and there’s a case that this one proves no different.

Healthcare/Insurance

What’s keeping the mood constructive is where the money is going. Rather than fleeing the market entirely, it’s rotating beneath the surface. Healthcare is breaking out of a five-year trading range, insurance is emerging from an 18-month base, and REITs — flat for the better part of five or six years — are being watched as a possible next leg. As long as capital rotating out of momentum keeps finding a home, the pullback reads as healthy churn rather than a broad unwind. The economic data and growth forecasts remain strong, the broadening looks like it’s still underway, and July seasonality has historically favored the bulls.

US – Iran Relations

Overseas and in Washington, the picture is mixed but not alarming. The U.S.–Iran ceasefire is not going smoothly, and the status of the Strait of Hormuz remains unclear, yet oil has held below $70 a barrel and markets remain hopeful of a resolution. At the ECB forum, Fed Chair Kevin Warsh stayed tight-lipped on forward guidance while reiterating his commitment to getting inflation back to the 2% target. With next week light on both the economic and earnings calendars, near-term direction can likely be steered by technicals, Middle East headlines, oil, and yields rather than by fresh data.

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3:2:1 Crack Spread

The 3-2-1 Crack Spread approximates the value of crude oil inputs and product outputs – in effect an indicator of refinery profitability. The 3-2-1 Crack spread approximates a theoretical refinery crude yield that produces two barrels of gasoline and one barrel of diesel for every three barrels of crude input. In other words, the simplified refinery yield implied by this calculation is two-thirds gasoline, one-third diesel. It is calculated in $/bbl.

Here is the simple mathematical formula:

https://www.cmegroup.com/tools-information/calc_crack.html

3 contracts of WTI Crude, 2 Contracts RBOB, 1 Contract HO (diesel)

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Economic Reports

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Happy 4th of July (Eve)! PLUS: The Week Ahead, CannonEdge Snapshot, Levels, Reports; Your 4 Important Can’t-Miss Need-To-Knows for Trading Futures the Week of July 6th, 2026

Posted on July 3, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	4100.80	4142.30	4175.30	4216.80	4249.80
Silver (SI) — July. (#SI)	60.55	61.67	62.51	63.64	64.48
Crude Oil (CL) — Aug (#CL)	67.50	68.09	68.68	69.27	69.86
Sept. Bonds (ZB) — Sept. (#ZB)	111 30/32	112 3/32	112 14/32	112 19/32	112 30/32

The Week Ahead

4th of July

Here’s hoping everyone returned to the first full week of July with all of their fingers, toes and faculties following the 250the celebration of our country. The key futures market news for next week’s trading focuses on Wednesday’s release of the FOMC minutes, the first of Chairman Warsh’s tenure and WASDE on Friday. These are the known factors affecting market direction.

Who can trust the fragile Islamabad Memorandum of Understanding?

As of July 3, 2026, a fragile ceasefire is in place between the U.S. and Iran following a multi-month conflict. Peace talks are currently paused as Iran begins a week-long funeral for former Supreme Leader Ayatollah Ali Khamenei.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program. The 60-day window to hammer out a deal is now only 40 days with a week long pause as Iran will be mourning their fallen leader for the next week before talks resume.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Quiet

· Tue. MSC Industrial Direct, Enerpac Tool Group

· Wed. PriceSmart, AZZ

· Thu. PepsiCo, Progressive, Cintas

· Fri. Delta Airlines, Hyatt Hotels

Fed Speakers: (all times CDT)

· Mon. Quiet

· Tues. Quiet

· Wed. 1:00 pm FOMC Minutes

· Thu. 8:00 am Williams

· Fri. Quiet

Econ Data:

· Mon. S&P Services , ISM Services,

· Tue. Balance of Trade, Redbook, Consumer inflation Expectations, API Crude stock change

· Wed. Used car prices, Wholesale Inventories, EIA Crude stock Change, FOMC

Minutes

· Thu. Initial Jobless claims, Existing Home Sales, EIA Nat Gas Stocks,

Fri. WASDE, Baker Hughes Oil Rig Count

Cannon Edge — Your Daily Futures Snapshot for July 6th

Daily Levels for July 6th, 2026

Economic Reports

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Happy 250th, USA! PLUS: July 4th Trading Schedule, September – December Wheat Spread, CannonEdge Snapshot, Pre-Market Briefing TEXT & PODCAST, Levels, Reports; Your 7 Important Can’t-Miss Need-To-Knows for Trading Futures on July 3rd, 2026

Posted on July 2, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	3997.10	4065.70	4111.40	4180.00	4225.70
Silver (SI) — July. (#SI)	57.95	59.64	61.11	62.81	64.28
Crude Oil (CL) — Aug (#CL)	66.35	67.42	68.11	69.18	69.87
Sept. Bonds (ZB) — Sept. (#ZB)	111 28/32	112 7/32	112 17/32	112 28/32	113 6/32

HAPPY BIRTHDAY USA!!

usa

250 – God Bless!

Holiday hours below, keep in mind many markets are closed, lower volume but some markets are open and close early.

Make it a Great, Safe July 4th Weekend!

FULL SCHEDULE HERE or click on image below.

September – December Wheat Spread

We recently highlighted the strength in the July – Sept wheat spread but now that we are into deliveries, it appears that the Sept – Dec wheat spread will step right in and resume leadership. The rally in the Sept – Dec spread has completed the first upside price objective where it would be normal to get a near term reaction in the form of a consolidation or corrective trade from this level. If the chart can sustain further strength, the second count would project a possible run to the -10.5 area.

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Cannon Edge — Your Daily Futures Snapshot for July 3rd

Daily Levels for July 3rd, 2026

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Non-Farm Payrolls (NFP) TODAY 7:30 AM CT PLUS: July 4th Trading Hours, Pre-Market Briefing TEXT & PODCAST, September Coffee, CannonEdge Snapshot, Levels, Reports; Your 7 Important Can’t-Miss Need-To-Knows for Trading Futures on July 2nd, 2026

Posted on July 2, 2026July 2, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	3892.90	3970.80	4050.90	4128.80	4208.90
Silver (SI) — July. (#SI)	55.60	57.63	59.59	61.62	63.58
Crude Oil (CL) — Aug (#CL)	66.43	67.22	68.70	69.49	70.97
Sept. Bonds (ZB) — Sept. (#ZB)	111 27/32	112 6/32	112 18/32	112 29/32	113 9/32

July 4th Futures Trading Hours 2026!

(Click schedule for larger image)

July 4th, 2026

Non-Farm Payrolls (NFP) TODAY 7:30 AM CT

non-farm payroll

US June Non-Farm Payrolls data will be released Thursday morning at 7:30 am CT. Economists are forecasting non-farm payrolls +118,000 compared to May’s +172,000. The June jobless rate is expected at 4.3%. Average hourly earnings are expected up +0.3% month over month, up +3.5% year over year.

September Coffee

September coffee satisfied its first downside PriceCount objective and corrected higher. In the process, the chart activated upside counts too. The first count to the 306 area has been completed. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade. If the chart can sustain further strength, the second count would project a possible run to the 330 area.

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Cannon Edge — Your Daily Futures Snapshot for July 2nd

Daily Levels for July 2nd 2026

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August Bean Oil PLUS: July 4th TRADING HOURS, Pre-Market Briefing TEXT & PODCAST, CannonEdge Snapshot, Levels, Reports; Your 5 Important Can’t Miss Need-To-Knows for Trading Futures on July 1st, 2026

Posted on June 30, 2026June 30, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	3899.73	3966.77	4022.43	4089.47	4145.13
Silver (SI) — July. (#SI)	55.39	57.55	59.23	61.40	63.08
Crude Oil (CL) — Aug (#CL)	67.94	69.03	70.32	71.41	72.70
Sept. Bonds (ZB) — Sept. (#ZB)	112	112 15/32	113 14/32	113 29/32	114 28/32

July 4th Futures Trading Hours 2026!

(Click schedule for larger image)

July 4th, 2026

August Bean Oil

oil

August Bean Oil is breaking down near term support at recent lows and the 100 dma. New sustained lows would project a possible slide of the second PriceCount to the 65.53 area.

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Cannon Edge — Your Daily Futures Snapshot for July 1st

Daily Levels for July 1st, 2026

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At A Glance Levels

Gold (GC)

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Crude Oil (CL)

Sept. Bonds (ZB)

The Complacency Crack: A Semiconductor Scare Breaks the Calm

By Eli Levy, Senior Analyst & Series 3 Broker

Bottom Line

Semiconductors

Stocks/AI

Crude Oil

Stock Indices

Final Thoughs

December Corn

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Cannon Edge — Your Daily Futures Snapshot for July 21st

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

· Current price and daily % change

· 30‑day and 52‑week highs/lows

· PROPRIETARY Short‑term and long‑term trend signals

· Coverage across equity indices, metals, energies, currencies, and ags

Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 21st, 2026

Economic Reports

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Cannon Futures Weekly Letter

In Today’s Issue #1298

The Week Ahead – Humphrey Hawkins Testimony, CPI, PPI, Iran

Trading Signals!

Futures 102 – The Daily Briefing – What the Pros Know Before Trading

Options 303: Selling Options premium & More!

September Wheat Corn Spread Chart & Outlook

Cannon Edge – Your Futures trading Map for the week ahead!

At A Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Sept. Bonds (ZB)

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

The Week Ahead

Volatility occurs in two main waves:

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

Plan your trade and trade your plan!

Earnings Next Week:

Fed Speakers: (all times CDT)

Econ Data:

Get a daily market edge—support & resistance levels plus key market-moving insights.

Real Time Trading Signals

What You’ll Receive

Futures Options Writing

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

Wheat Corn Spread

Curious?

Learn more here or even better schedule a one on one consultation with a licensed series 3 broker HERE

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Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for July 13th, 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Built for speed. Backed by insight. Powered by CQG.

Daily Levels for July 13th, 2026

Trading Reports for Next Week

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