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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.
Futures Quotes
Futures quotes are fundamental to the world of futures trading, serving as the essential indicators of market sentiment, pricing, and future expectations across a broad array of asset classes. These quotes play a vital role for various market participants, from commodities brokers and future brokers to retail and institutional traders, as well as hedgers. By offering detailed insights into contract prices, trade volumes, and open interest, futures quotes help in making informed trading and hedging decisions, enhancing the efficiency of the entire marketplace.
What are Futures Quotes?
Futures quotes represent the current prices and associated data for futures contracts in the market. They typically include key information such as the bid (the highest price a buyer is willing to pay), ask (the lowest price a seller is willing to accept), last traded price (the most recent transaction price), open interest (total number of open contracts), and volume (the number of contracts traded over a given period). The price of a futures quote fluctuates in real time based on supply and demand and reflects the market’s expectations of where an asset’s price is headed in the future.
These quotes are crucial for market participants because they provide insights into the current sentiment and expected direction of prices for various commodities, currencies, stock indices, and other underlying assets. By interpreting futures quotes, traders and brokers can gauge market conditions, strategize on entry and exit points, and anticipate potential price movements to maximize profitability or mitigate risks.
How Futures Quotes Inform Traders and Brokers
Traders, brokers, and investors alike use futures quotes as a real-time source of information for decision-making. These quotes allow them to monitor market trends and price fluctuations and analyze supply and demand dynamics in the futures market. For example, commodities brokers closely follow futures quotes to assess the prices of agricultural products, metals, or energy resources. Future brokers, on the other hand, may focus on quotes across different asset classes, offering insights and trading options to their clients.
Futures quotes also help market participants recognize patterns and trends. If a quote shows a consistent upward trend, traders might interpret this as a signal of increasing demand or decreasing supply. In contrast, if a futures quote exhibits frequent fluctuations or erratic movements, this could suggest market uncertainty or volatility, potentially influencing brokers’ and traders’ strategies. By understanding these patterns, traders and brokers can make more informed decisions, placing themselves in a stronger position to capitalize on price movements.
Sources of Futures Quotes
Access to real-time futures quotes is essential for traders who want to act on the most current information. Futures quotes can be found through several sources, including online trading platforms, financial news websites, brokerage platforms, and dedicated market data providers. Many commodities brokers and future brokers provide real-time or delayed futures quotes on their trading platforms, making it convenient for clients to monitor market changes and adjust their strategies accordingly.
Popular sources of futures quotes include:
- Brokerage Platforms: Most brokers, whether focused on commodities or futures trading, provide real-time futures quotes on their trading platforms. These platforms allow traders to monitor their desired contracts, conduct analysis, and place trades.
- Financial News Websites: Websites such as CNBC, Bloomberg, and Reuters offer futures quotes, often accompanied by news, analysis, and expert opinions. This comprehensive view helps traders interpret data within the larger economic context.
- Market Data Providers: Specialized market data providers, like CME Group, ICE (Intercontinental Exchange), and Nasdaq, offer extensive futures data across multiple asset classes. These platforms provide up-to-date data that’s especially valuable to institutional traders and hedgers.
- Trading Terminals: Professional trading terminals like Bloomberg Terminal and Thomson Reuters Eikon provide in-depth access to futures quotes, alongside various analysis tools and market insights.
- Mobile Apps and Online Platforms: Retail traders frequently use mobile apps and online platforms like TD Ameritrade, E*TRADE, and Interactive Brokers to obtain futures quotes on the go. These platforms are often geared toward retail investors and provide a user-friendly interface with real-time quotes.
How Retail Traders Use Futures Quotes to Their Advantage
Retail traders, or individual investors, can leverage futures quotes to develop strategies for short-term trading, day trading, or long-term positions. By analyzing futures quotes, they can spot opportunities for profit in trending markets or capitalize on price swings. Here are a few strategies through which retail traders use futures quotes to their advantage:
- Timing Entry and Exit Points: Futures quotes help retail traders determine the optimal times to enter or exit trades. By studying fluctuations in bid and ask prices, retail traders can decide when to place orders based on their price targets.
- Analyzing Open Interest and Volume: Open interest and volume data included in futures quotes indicate market activity and liquidity. High volume and increasing open interest generally suggest a strong trend, which can be a signal for traders to join a market move, while declining volume may indicate a trend reversal.
- Anticipating Market Movements with Technical Analysis: Futures quotes allow retail traders to use technical analysis indicators, such as moving averages or Bollinger Bands, to predict price movements. Technical analysis based on real-time futures quotes helps retail traders make more precise and informed decisions.
- Hedging: Some retail traders use futures to hedge against other investments in their portfolio. For instance, if a trader has a substantial investment in stocks, they might hedge by taking a position in stock index futures as a way to mitigate downside risk.
By using futures quotes as the foundation of their trading strategies, retail traders can enhance their potential for success and build more resilient portfolios.
Institutional Traders and Futures Quotes
Institutional traders, such as hedge funds, mutual funds, and large investment firms, often rely on futures quotes as part of their sophisticated trading strategies. Institutional traders tend to have access to high-quality, real-time data and advanced trading platforms, enabling them to process vast amounts of information and respond quickly to market changes. Futures quotes offer institutional traders various advantages:
- Leveraging Large Market Movements: Institutional traders often use futures quotes to identify large-scale price movements across commodities, indices, and interest rates. By analyzing futures quotes, they can make highly leveraged trades and achieve substantial profits from even minor price changes.
- Market Analysis and Predictions: Institutional traders typically have access to proprietary models and algorithms that analyze futures quotes in conjunction with other market data to make predictions about future market behavior. This allows them to trade with a data-backed understanding of market expectations.
- Arbitrage Opportunities: Futures quotes also reveal price discrepancies between different markets, and institutional traders capitalize on these discrepancies through arbitrage. For example, if the price of a futures contract differs between two exchanges, institutional traders can buy on one exchange and sell on the other to profit from the difference.
- Hedging and Risk Management: Institutional traders often use futures to hedge against various risks. For instance, a pension fund might use bond futures to hedge against interest rate changes, while an international firm might use currency futures to hedge against forex risks.
Institutional traders’ use of futures quotes highlights the flexibility and potential for profit that these quotes offer, particularly for those with the resources and expertise to interpret and act on complex market information.
Hedgers and Futures Quotes
Hedgers, including agricultural producers, manufacturers, and corporations, use futures quotes to reduce price uncertainty and protect against adverse price movements in the underlying assets they rely on. Here are a few ways hedgers utilize futures quotes:
- Locking in Prices for Commodities: Futures quotes allow hedgers to lock in prices for future purchases or sales of commodities. For example, a farmer might sell futures contracts on wheat based on futures quotes to lock in a selling price before the harvest, thereby reducing the risk of price declines.
- Protecting Against Market Volatility: Futures quotes provide a real-time picture of market volatility, which can guide hedgers in implementing risk management strategies. By following the quotes, hedgers can make timely adjustments to their positions, reducing the impact of sudden price swings.
- Budgeting and Cost Management: Corporations can use futures quotes to predict future expenses more accurately, especially for key materials. For instance, an airline might rely on fuel futures quotes to project fuel costs, enabling better budget planning and cost management.
- Currency and Interest Rate Hedging: Companies involved in international trade might use futures to hedge against currency risk, while those dependent on debt financing may use interest rate futures to manage interest rate exposure. Futures quotes provide these companies with up-to-date information on currency and interest rate trends, allowing them to anticipate and mitigate risk.
Hedgers’ primary objective is not profit but risk mitigation, and futures quotes serve as a vital tool to achieve this goal. By using futures quotes, hedgers can achieve greater financial stability, protecting themselves against market fluctuations that might otherwise impact their business operations.
Companies Known for Producing Futures Quotes
Certain companies stand out in the industry for producing reliable and comprehensive futures quotes. These organizations provide real-time data feeds, analysis tools, and market insights that serve brokers, traders, and investors alike.
- CME Group: One of the most prominent companies for futures quotes, the CME Group offers a vast range of futures data across various asset classes, including commodities, currencies, interest rates, and indices. With its robust data services and platforms, CME Group is a go-to source for both retail and institutional traders.
- Intercontinental Exchange (ICE): ICE provides futures quotes for commodities, financials, and currencies, along with real-time and historical data. It is well-known for its role in energy futures, particularly crude oil, natural gas, and power markets.
- Bloomberg: Bloomberg is highly regarded for its real-time data and trading analytics. The Bloomberg Terminal is a powerful tool for futures quotes, providing in-depth market data and advanced analytical tools that benefit institutional traders.
- Thomson Reuters: Now part of Refinitiv, Thomson Reuters is a major player in financial data and offers futures quotes across multiple asset classes. Its Eikon platform is popular among professional traders for its comprehensive data and advanced features.
- Nasdaq: Known for equities and options data, Nasdaq also provides futures quotes, particularly in the index futures space. Nasdaq’s market data is accessible to both retail and institutional traders.
Each of these companies offers a range of tools to facilitate trading, hedging, and market analysis, making them indispensable for accessing reliable futures quotes.
Futures quotes are an indispensable tool for understanding market sentiment, predicting price movements, and making informed trading and hedging decisions. For commodities brokers and future brokers, these quotes are essential for providing clients with actionable information and market access. Retail traders rely on futures quotes to time trades, analyze trends, and execute hedging strategies, while institutional traders use them for advanced analysis, arbitrage, and risk management. Hedgers, on the other hand, utilize futures quotes to stabilize costs and secure prices for future transactions.
By interpreting and leveraging futures quotes, all market participants can gain an edge, allowing them to navigate complex and often volatile markets more effectively. Companies like CME Group, ICE, Bloomberg, Thomson Reuters, and Nasdaq play a critical role in providing access to high-quality futures quotes, enhancing the accessibility and transparency of the futures market for everyone involved.
For more information, click here.
Ready to start trading futures? Call us at 1(800)454-9572 – Int’l (310)859-9572 (International), or email info@cannontrading.com to speak with one of our experienced, Series-3 licensed futures brokers and begin your futures trading journey with Cannon Trading Company today.
Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involve substantial risk of loss and are not suitable for all investors. Past performance is not indicative of future results. Carefully consider if trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Important: Trading commodity futures and options involves a substantial risk of loss. The recommendations contained in this article are opinions only and do not guarantee any profits. This article is for educational purposes. Past performances are not necessarily indicative of future results.
This article has been generated with the help of AI Technology and modified for accuracy and compliance.
Follow us on all socials: @cannontrading
Weekly Newsletter: Elections, FOMC, Volatile Week Ahead+ Trading Levels for Nov. 4th
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Cannon Futures Weekly Letter Issue # 1215
In this issue:
- Important Notices – Elections, FOMC – Volatile Week ahead.
- Futures 102 – Crude Oil Outlook + Premium Daily Research
- Hot Market of the Week – March sugar
- Broker’s Trading System of the Week – Nikkei 225 Swing System
- Trading Levels for Next Week
- Trading Reports for Next Week
Important Notices – Next Week Highlights:
The Week Ahead
By John Thorpe, Senior Broker
Time change, Clocks “Fall Back” 1 hour in U.S. Nov. 2nd, US Presidential Election Nov 5th, Fed Rate announcement (expectations are .25 cut), 3756 corporate earnings reports and a few Economic data releases. To wit, Market volatility could be very high next week.
Many clearing firms will be raising margins to protect from and for the undercapitalized in what could be extreme moves related to the US Election outcomes which may not be known for hours or days following poll closings Tuesday evening.
Tuesday is the 60th U.S. Quadrennial Presidential Election, Polls close @ 7:00 P.M. in each of the 4 time zones. (a recent Nevada Supreme Court Ruling allows un-postmarked mail-in ballots received within 3 days past the official poll closing may be counted)
Prominent Earnings this Week:
- The following are the largest cap stocks reporting and for those that are little known, however their market cap is in the billions of dollars, I have provided lists of their core services, you will agree they fulfill critical roles in our internet of things infrastructure.
- Wed. Qualcomm, ARM Holdings (operates as a holding company, which engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools.) Gilead Sciences report post close.
- Thu. Arista Networks (engages in the development, marketing, and sale of cloud networking solutions. Its solutions include EOS, a set of network applications, and Gigabit Ethernet switching and routing platforms. Its product categories include Core, Cognitive Adjacencies, and Network Software and Services) AirBNB
FED SPEECHES:
- Mon. quiet
- Tue. quiet
- Wed. Day 1 FOMC
- Thu. Day 2 FOMC Rate Decision 1pm CST, Powell Presser @ 1:30 pm CST
- Fri. quiet
Big Economic Data week:
- Mon. Factory Orders
- Tues. U.S. Trade Balance, ISM Services PMI, Redbook
- Wed. Quiet
- Thur. Retail Inventories, Jobless Claims, FED RATE Decision
- Fri. Michigan Consumer Sentiment, agricultural numbers>WASDE 11:00 a.m. CST
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Futures 102: Crude Oil In Depth Analysis
Please click here to instantly view a PDF with Crude Oil outlook for the short, medium and long term.
With tensions in Middle East yoyoing…you may want o read and view the outlook provided by Artac Advisory!
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- Hot Market of the Week – March Sugar
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.
March Sugar
March sugar is attempting to break out of a bull flag formation. If successful, it would support a challenge of the September high and potentially the contract high from late 2023. At this point, new sustained highs would project a possible run to the third upside PriceCount objective to the 25.84 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.
QuantumFusion ProMax
PRODUCT
NK – Nikkei 225
SYSTEM TYPE
Swing Trading
Recommended Cannon Trading Starting Capital
$50,000
COST
USD 165 / monthly
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.
Daily Levels for November 4th, 2024
Weekly Levels for the week of November 4th, 2024
Improve Your Trading Skills
Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.
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.
Countdown to NFP: High Volatility Brings New Opportunities for Traders
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All Eyes on NFP: U.S. Growth and Gold Rally Amid Key Jobs Data Release This Friday
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Stay Ahead of Market Movers: Key Reports and Real-Time Audio Alerts with TradeTheNews
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Crude Oil Futures Contracts
Crude oil has long been the lifeblood of the global economy, powering industries, transportation, and even influencing geopolitics. Given its critical importance, it’s no surprise that crude oil futures contracts have become one of the most traded instruments in the global futures markets. These contracts allow traders to speculate on the future price of crude oil, hedge against price volatility, and provide liquidity to the market. This piece delves into the history of crude oil futures, their pricing mechanisms, why they are so popular, and why Cannon Trading Company, with its stellar reputation, is a great choice for trading crude oil futures contracts.
A Brief History of Crude Oil Futures Contracts
The concept of futures trading dates back to ancient civilizations, where farmers and merchants would agree to exchange goods at a predetermined future date and price. The modern era of futures trading, however, began in the 19th century with agricultural commodities. The Chicago Board of Trade (CBOT) was one of the first exchanges to offer standardized futures contracts.
Crude oil, being a vital commodity, entered the futures markets relatively late. The first crude oil futures contracts were introduced by the New York Mercantile Exchange (NYMEX) in 1983. These contracts were designed for light, sweet crude oil, a high-quality grade of oil that is easy to refine. The benchmark contract for crude oil is the West Texas Intermediate (WTI) futures contract, traded primarily on the NYMEX. The introduction of WTI future contracts marked a significant turning point in the financial markets, as it allowed investors, traders, and corporations to hedge against fluctuations in crude oil prices. Today, WTI future contracts are considered one of the most liquid and heavily traded futures contracts in the world.
Pricing of Crude Oil Futures Contracts
Crude oil futures contracts are standardized agreements to buy or sell a specific quantity of crude oil at a predetermined price on a future date. The two most common grades of crude oil traded on futures exchanges are WTI and Brent crude. WTI future contracts are considered the benchmark for U.S. oil prices, while Brent crude is the global benchmark.
The price of crude oil futures is influenced by a variety of factors, including:
- Supply and Demand: Like any commodity, the price of crude oil is primarily driven by the global supply and demand balance. Factors like geopolitical tensions, OPEC production decisions, and economic growth can cause significant fluctuations in crude oil futures prices.
- Geopolitical Events: Political instability in oil-producing regions, such as the Middle East, can disrupt the supply of crude oil, driving prices higher. Conversely, periods of peace or increased production can cause prices to fall.
- Inventory Levels: Weekly reports on U.S. crude oil inventories, released by the Energy Information Administration (EIA), can have a significant impact on crude oil futures live prices. Higher-than-expected inventories can signal lower demand or oversupply, leading to a drop in prices.
- Technological Advancements: Innovations in extraction techniques, such as hydraulic fracturing (fracking), have revolutionized the supply of crude oil, particularly in the United States, leading to changes in crude oil futures prices.
The live pricing of crude oil futures is updated in real-time across trading platforms, with traders constantly monitoring fluctuations via crude oil futures live charts. These charts display the most current prices, allowing traders to react quickly to market changes. The price of crude oil futures today is a reflection of these real-time updates and market sentiment, making it one of the most actively followed markets globally.
Why Are Crude Oil Futures Contracts So Popular?
Crude oil futures trading is highly popular among futures traders for several reasons:
- Liquidity: The crude oil futures market is one of the most liquid markets in the world. WTI future contracts, in particular, are traded in high volumes, providing ample liquidity for both small and large traders. High liquidity ensures that traders can enter and exit positions quickly without significant price slippage.
- Volatility: Crude oil futures prices can be highly volatile due to the numerous factors influencing the market, such as geopolitical tensions, natural disasters, and macroeconomic data releases. This volatility provides trading opportunities for speculators looking to profit from price swings.
- Hedging: Crude oil futures contracts are widely used by corporations, such as airlines and oil companies, to hedge against adverse price movements. For instance, an airline might use crude oil futures to lock in future fuel costs, protecting itself from rising oil prices. This hedging activity contributes to the overall liquidity of the market.
- Global Influence: Crude oil is a globally traded commodity, and its price influences a wide range of industries. This global reach makes crude oil futures an attractive instrument for traders who want exposure to macroeconomic trends, such as global growth, inflation, and currency movements.
- Diverse Trading Strategies: Crude oil futures trading allows for a variety of trading strategies, from short-term scalping to long-term trend following. Traders can take both long and short positions, making crude oil futures suitable for different market conditions.
- Transparency and Standardization: WTI future contracts, like other futures contracts, are standardized, meaning that they specify the quantity, quality, and delivery date of the underlying commodity. This standardization reduces the risk of misunderstandings or disputes, making crude oil futures trading more transparent and accessible.
Cannon Trading Company: A Trusted Partner for Crude Oil Futures Trading
Cannon Trading Company, a leading brokerage firm with decades of experience in the futures markets, has earned a 5-star rating on TrustPilot for good reason. When it comes to crude oil futures trading, Cannon Trading offers several advantages that make it an excellent choice for traders.
- Decades of Experience: Cannon Trading Company has been in the futures industry for over 30 years, providing clients with reliable, professional, and knowledgeable service. Their experience in the crude oil futures markets allows them to offer tailored advice, helping traders navigate the complexities of crude oil futures contracts.
- Excellent Trading Platforms: Cannon Trading offers access to multiple trading platforms, allowing traders to view crude oil futures live prices and charts. Their platforms are designed for ease of use, enabling traders to make informed decisions based on real-time data. With access to the latest crude oil futures charts, traders can analyze trends and execute trades efficiently.
- Exceptional Customer Support: Cannon Trading is known for its high level of customer service. Whether you are new to crude oil futures trading or an experienced trader, their team of seasoned professionals is available to provide assistance and answer questions, ensuring a smooth trading experience.
- Comprehensive Market Research: Cannon Trading provides clients with up-to-date market research and analysis, including insights into crude oil futures prices, geopolitical events, and technical analysis. Their research services are valuable for traders who want to stay informed about market trends and make better-informed decisions.
- Competitive Commissions: Cannon Trading offers competitive commission rates, allowing traders to maximize their profitability when trading crude oil futures. Their transparent fee structure ensures that clients know exactly what they are paying for, with no hidden charges.
- Advanced Tools and Resources: Cannon Trading provides its clients with access to advanced trading tools, including crude oil futures charts, technical analysis tools, and risk management software. These resources are essential for traders looking to manage risk effectively and make well-timed trading decisions.
For traders interested in crude oil futures today, choosing a brokerage firm with a solid track record is critical. Cannon Trading’s 5 out of 5-star ranking on TrustPilot reflects its commitment to providing excellent service and support to its clients. Their decades of experience in the futures markets, combined with access to advanced trading platforms, make Cannon Trading a great choice for traders looking to enter the crude oil futures market.
Crude oil futures contracts play a vital role in the global financial markets, offering liquidity, transparency, and trading opportunities for both speculators and hedgers. The evolution of WTI future contracts has cemented crude oil’s position as a key commodity in the futures markets. With factors like supply and demand, geopolitical tensions, and inventory levels constantly influencing crude oil futures prices, these contracts remain among the most actively traded instruments.
For traders looking to trade crude oil futures today, Cannon Trading Company stands out as a reliable and experienced broker. With decades of experience, a 5-star TrustPilot ranking, and a wealth of trading resources, Cannon Trading is well-equipped to help traders navigate the volatile and fast-paced world of crude oil futures trading.
Whether you’re analyzing crude oil futures live prices or studying historical trends through crude oil futures charts, having a trusted brokerage like Cannon Trading is essential for success in this market. The combination of cutting-edge tools, excellent customer service, and a deep understanding of the futures markets makes Cannon Trading a top choice for those looking to trade WTI future contracts and other crude oil futures instruments.
For more information, click here.
Ready to start trading futures? Call us at 1(800)454-9572 – Int’l (310)859-9572 (International), or email info@cannontrading.com to speak with one of our experienced, Series-3 licensed futures brokers and begin your futures trading journey with Cannon Trading Company today.
Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involve substantial risk of loss and are not suitable for all investors. Past performance is not indicative of future results. Carefully consider if trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Important: Trading commodity futures and options involves a substantial risk of loss. The recommendations contained in this article are opinions only and do not guarantee any profits. This article is for educational purposes. Past performances are not necessarily indicative of future results.
This article has been generated with the help of AI Technology and modified for accuracy and compliance.
Follow us on all socials: @cannontrading
AI Dominates Market Focus as Earnings & Economic Data Await – NVDA Chips in the Spotlight
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Weekly Newsletter: Bean Oil Outlook, Crude Oil System+ Trading Levels for Oct. 28th
Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel
Cannon Futures Weekly Letter Issue # 1214
In this issue:
- Important Notices – Earnings & NFP, Consumer Confidence
- Futures 102 – Recognizing Chart Patterns
- Hot Market of the Week – December Bean Oil
- Broker’s Trading System of the Week – Crude Oil Swing Trading System
- Trading Levels for Next Week
- Trading Reports for Next Week
Important Notices – Next Week Highlights:
The Week Ahead
By Mark O’Brien, Senior Broker
We’re a week away from the Labor Dept.’s release of its monthly Non-farm payrolls report. It’s widely considered to be one of the most important and influential measures of the U.S. economy. The report is released at 7:30 A.M., Central Time on the first Friday of the month.
U.S. Election Day (Nov. 5th) countdown: 11 days
Next week’s earnings include some of the largest U.S. companies by market cap.:
Apple, Microsoft, Alphabet (Google), Amazon, Meta (old Facebook), Berkshire Hathaway, Visa, Exxon Mobile, Chevron, Merck, McDonalds, Caterpillar, Uber
Apple and Microsoft each boast a market cap. of over $3 trillion. That’s 3,000,000,000,000. Google and Amazon come in at about $2 trillion.
Tuesday, Oct. 29th:
9:00: Consumer Confidence
Wednesday, Oct 30th:
7:30: Gross Domestic Product (3rd qtr.)
ADP Employment
Thursday, Oct. 31st:
7:30: Personal Income / Spending
7:30: Personal Consumption & Expenditures – Index & year-over-year
8:45: Chicago Purchasing Managers Index
Friday, Nov. 1st:
Non-Farm Payrolls / U.S. Unemployment Report
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Before Your next Trade, learn to recognize charts and patterns!
Learning the different types of charts and patterns will be another arsenal in your Trading Tools!
- What is an Ascending Triangle Futures Chart Pattern?
What is an Ascending Triangle Futures Chart Pattern?
An ascending triangle is a bullish futures pattern that can indicate a breakout in the upwards direction.
How do I Recognize an Ascending Triangle Futures Chart Pattern?
An ascending triangle is formed when resistance remains flat and support rises.
What Does a Ascending Triangle Chart Pattern Mean?
The price will rise and fall within the triangle until support and resistance converge. At that point, the apex, breakout occurs, usually upwards.
- What is a Broadening Top Futures Chart Pattern?
- Head & Shoulders?
- Bull Flags?
- Bear Flags?
- Rectangle Bottoms?
- Rectangle Tops?
- See ACTUAL Charts Patterns images AND many more patterns you should know as a trader!
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- Hot Market of the Week – December Hogs
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
December Bean Oil
December bean oil is attempting to break out as it challenges the October highs. New sustained highs would open up the chart to take aim at its upside PriceCount objectives where the first count would project a run to the 46.29 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.
Position Trading Cont v.22 _ CRUDE
PRODUCT
CL – Crude Oil
SYSTEM TYPE
Swing Trading
Recommended Cannon Trading Starting Capital
$25,000
COST
USD 165 / monthly
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.
Daily Levels for October 28th, 2024
Weekly Levels for the week of October 28th, 2024
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* This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Introducing Micro Nikkei 225 Futures: Expanding CME’s Global Equity Index Suite with Japan’s Benchmark
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