First Notice & Last Trading Days 03.02.2023 Trading Levels

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Below are the contracts which are entering First Notice or Last Trading Day for the upcoming month. Be advised, for contracts that are deliverable, it is requested that all LONG positions be exited two days prior to First Notice and ALL positions be exited the day prior to Last Trading Day.

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A Cannon broker will be able to assist, provide feedback and answer any questions.

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.

Futures Trading Levels

03-02-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

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Economic Reports, Source: 

Forexfactory.com

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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.

Last Trading Day for February…. 02.28.2023 Trading Levels

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Bullet Points, Highlights, Announcements

 

By John Thorpe, Senior Broker

 

Inflation concerns weigh heavily not only on the markets we trade, discussions with our family, friends and neighbors often include the topic of inflation. It’s an inescapable reality in 2023. This weeks anticipated market movers are inflation gauges or data points the FED uses to guide future policy directives.

Tomorrow we have a number of gauges for the markets to absorb and they are all before 10 a.m. EST. Case -Shiller home price index, Chicago PMI, Consumer Confidence and the Richmond Fed Manu Index. All between 9 and 10 a.m..

Wednesday Fed Governor Kashkari at 9 a.m. followed by PMI Manu Final @ 9:45 ISM and construction spending @ 10 a.m.

Thursday Motor Vehicle Sales (look for a slowdown compared to a hot January) and Jobless Claims at 8:30 EST and Productivity and costs.  It’s also a heavy week for US Treasury bill note and bond settlements and auctions.

Friday ISM @ 10 EST and a number of fed Governor speeches beginning @ 110:45 EST through the end of the trading week. No Non Farm Payrolls this week!

Historically, the Senate Banking and the House Financial Services committees hold hearings with the FED Chair Twice a year and February is the month these open mike events are held. Not this year. Although when they do schedule the hearings it may be a little more challenging for FED Chair Powell to rely on Post Black out period discussions since this is normally when the Chairman is invited to the congressional hearings-immediately after FED Rate announcements.

The employment situation for February AKA Non Farm Payrolls won’t be released until Friday, March 10. The February survey reference period ended Saturday, February 18. It takes three weeks to prepare the report. What is normally a first Friday of the month release, will therefore be on the second Friday.

https://www.bls.gov/schedule/2023/03_sched.htm

A Cannon broker will be able to assist, provide feedback and answer any questions.

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.

Futures Trading Levels

02-28-2023

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Improve Your Trading Skills

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 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

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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.

PCE Tomorrow, 02.24.2023 Trading Levels

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PCE tomorrow. Last few PCE reports we saw some very wild moves!

What is the PCE report?

Source Bureau of Economic Analysis (latest release): Measures Change in the price of goods and services purchased by consumers, excluding food and energy; Usual Effect ‘Actual’ greater than ‘Forecast’ is good for currency;

Frequency Released monthly, about 30 days after the month ends;

Next Release Mar 31, 2023 FF Notes Differs from Core CPI in that it only measures goods and services targeted towards and consumed by individuals.

Prices are weighted according to total expenditure per item which gives important insights into consumer spending behavior. CPI is released about 10 days earlier and tends to garner most of the attention;

Why Traders Care? It’s the Federal Reserve’s primary inflation measure. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;

Acro Expand Personal Consumption Expenditures (PCE), Consumer Price Index (CPI);

Would you like to hear the PCE numbers and market reaction LIVE tomorrow? Get a trial of breaking news, text alerts and market insight directly on your trading desktop? Start here.

 

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A Cannon broker will be able to assist, provide feedback and answer any questions.

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.

Futures Trading Levels

02-24-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

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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.

FOMC Minutes, 02.22.2023 Trading Levels

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The below commentary about tomorrow’s FOMC minutes is provided by www.NewSquawk.com

 

FOMC MINUTES (WED): After economic data for January highlighted a hot economy where inflation appears to be sticky, traders will look through the minutes for clues about how the central bank could respond, specifically looking at any commentary that indicates officials have appetite for rate hikes to resume with jumbo increments above 25bps, or even expectations of a higher terminal rate for the cycle. As a reminder, the Fed hiked its FFR by 25bps to 4.5-4.75% at its February meeting, as expected.

The statement said the central bank continues to see “ongoing increases” in the Fed rate as being appropriate, coming against some expectations that the line could be dropped in order to give optionality for a lower terminal rate than the 5-5.25% median dot in the December SEPs. While that didn’t happen, we did see a switch in language on guidance from the “pace of future increases” to the “extent of future increases,” suggesting that debate is moving from the size of hike increments to how many hikes remain in the cycle, a dovish offset to the continued use of “ongoing increases”. Elsewhere in the statement, the Fed acknowledged that inflation had eased

somewhat, but remained elevated. Chair Powell sat on the fence on many topics he was asked about in his postmeeting press conference, rather than cut off his options.

The Fed Chair confirmed that the disinflation process was underway, albeit he was eager to highlight that core services inflation, ex-housing, had not shown progress. He believes that policy is still not ‘sufficiently restrictive’, but left optionality by stressing data dependence, later saying that it is possible that the Fed updates its policy path if the data came in differently to what it expects. Powell said the Fed has not yet made a decision on the terminal rate, and that it will look at the data between now and the March SEPs.

The Fed chief sees a path to getting inflation to 2% without significant economic decline, though it could take more slowing in the economy than it expects.

The below commentary about tomorrow’s FOMC minutes is provided by www.NewSquawk.com

 

Plan your trade and trade your plan. 

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A Cannon broker will be able to assist, provide feedback and answer any questions.

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.

Futures Trading Levels

02-22-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

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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.

President’s Day Trading Hours 02.17.2023 Trading Levels

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President’s Day is this Monday. Below you will see a summary of trading hours, click here for full schedule.

P-Day-2023-768x818 image

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A Cannon broker will be able to assist, provide feedback and answer any questions.

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.

Futures Trading Levels

02-16-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

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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.

PPI Tomorrow!…. 02.16.2023 Trading Levels

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Bullet Points, Highlights, Announcements

 

By Mark O’Brien, Senior Broker

 

General:

While yesterday’s U.S. Consumer Price Index showed inflation continues to slow from its readings in 2022, CPI readings, the pace of declined slowed and a wide array prices stayed elevated, including food, clothes (women’s apparel dropped slightly), rent and hotel rooms. Once again, a key economic report has shown that the road back to 2.0% inflation, on which the Federal Reserve is committed to following, is going to be lengthy and rugged. It certainly leaves Fed in a hawkish posture.

Be alert: the release of the Bureau of Labor Statistics’ Producer Price Index is on deck for tomorrow.  The report comes out at 7:30 A.M., Central Time.

Markets:

Metals:

Gold (April) has declined ±$130 (a ±$13,000 move) since its Feb. 1 intraday high of $1,970.80 / oz. Today’s $1839.30 intraday low sets it back to prices not seen since the first of the for the calendar year.

Corn:

For most of the last few months, U.S. corn prices have justifiably focused on crop conditions, including obviously yield and quality, in Argentina and Brazil, which have continually come in far from ideal. As a result, the markets have priced in current and further crop damage coming into the South America harvest. That’s about to shift with the start of the crop year here in the U.S. Forecasts for planted acreage, demand, ending stocks, stocks/usage ratio – all tracked by the USDA and sized up by traders – are about to take center stage. As crops from the southern hemisphere are “made,” if little or no further surprises hit, look for CBOT corn prices to settle in for news of this year’s U.S. crop, starting with Prospective Plantings late next month.

Crude oil:

Despite the uneven decline of crude oil prices over the last 8 months from their ±$105 per barrel highs of last June (basis March) down to a few recent forays to the low 70’s per barrel, crude oil looks to still be focused on growing Chinese demand. As we approach the traditional U.S. driving season in May, look for recent lows as meaningful signs of support.

Plan your trade and trade your plan. 

A Cannon broker will be able to assist, provide feedback and answer any questions.

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.

Futures Trading Levels

02-14-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

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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.

Presidents Day 2023 Holiday Schedule for CME / Globex and ICE Exchange

Presidents Day 2023 Holiday Schedule for CME / Globex and ICE Exchange

 

P Day 2023

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® Presidents Day 2023 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

Keyword is CPI….. 02.14.2023 Trading Levels

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Today’s Keyword is CPI

 

By John Thorpe, Senior Broker

 

Get Ready! not 1, Not 2 not even 3 CPI reports this week.   Tis’ the season for western Govt CPI reporting and none more impactful than the US CPI number to be released at 7:30 PST Tuesday Morning. The Swiss did it Monday morning. The Brits are doing it Wednesday morning, The French release on Friday afternoon. Here is Econoday.com’s Consensus for the U.S. number . Remember, Deviations from consensus drive volatility because the assumption is, consensus is already baked into the market.

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Outlook

January’s monthly core rate is expected to hold at December’s as-expected and moderate 0.3 percent. Overall prices are expected to rise 0.5 percent to offset December’s 0.1 percent decline. Annual rates, at 6.5 percent overall in December and 5.7 percent for

The core, are expected to moderate to 6.2 and 5.5 percent. These data releases have roiled the markets in near unprecedented fashion recently directly tied to the interest rate tightening cycle we have been in for 3 quarters. The rest of the week we have a full slate of economic releases, anyone of which will move markets, some longer than others. For example US Retail sales and Industrial Production, Thursday Housing Starts, Jobless claims, Philly Fed and US:PPI Final demand.  be alert!

Plan your trade and trade your plan. 

A Cannon broker will be able to assist, provide feedback and answer any questions.

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.

Futures Trading Levels

02-14-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

d692ad6a a768 4cf8 9d2a 69dbb742be78

 

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.

Trader’s Prayer……. 02.10.2023 Trading Levels

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On the lighter side ahead of tomorrow’s anticipated Prelim University of Michigan Consumer Sentiment

The below is what you see when you enter our office in West Los Angeles!

Plan your trade and trade your plan. 

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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 when it comes to Futures Trading.

Futures Trading Levels

02-10-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

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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.

Looking at the last two trading days of the Week + Futures Levels 2.09.2023

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Looking at the last two trading days of the week…..

 

By Mark O’Brien, Senior Broker

 

 

General:

 

It’s a safe statement to make that the U.S. economy remains a quandary of conflicting signs. Growth is slowing in areas like housing and manufacturing, Americans are beginning to tamp down on spending and inflation is beginning to normalize. Last Wednesday, the Federal Reserve’s eighth straight interest rate hike was the smallest since its fight against inflation commenced last March.

 

At the same, the labor market remains formidable. On Friday, data released from the U.S. Bureau of Labor Statistics showed the economy added 517,000 jobs – shattering expectations – and the unemployment rate dropped to 3.4 percent, a low not seen since May 1969.

 

Yesterday, during a question-and-answer session with David Rubenstein of the Economic Club of Washington, Mr. Powell reiterated the Fed’s outlook that the bank has more work to do and

that “the disinflationary process has begun,” the strong labor market is an example of why steering the economy to “this will be a process that takes a significant period of time.”

 

It shouldn’t be surprising to traders – particularly equity index, currency, financial and even metals traders – if volatility remains elevated for a comparable “significant period of time.”

 

 

Softs:

 

Sugar traded to six-year high of 21.86 intraday (basis March) last Wednesday, 2/1 and is trading ±.50 below there as of today’s close. The latest Commitments of Traders update shows a heavy net long position of >170K contracts – an exceptional measure of upside risk and likely a precursor to expanded volatility.

 

Orange Juice has advanced ±50 cents (a ± $7,500 move) over the last dozen trading sessions – including back-to-back limit-up moves of 10 cents last Tuesday and Wednesday – to new all-time highs near $2.58/pound. A Jan. U.S. Dept. of Agriculture report that orange production in Florida would be over half compared to the prior season is propelling the upward move.

Plan your trade and trade your plan. 

A Cannon broker will be able to assist, provide feedback and answer any questions.

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.

Futures Trading Levels

02-09-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here


Economic Reports, Source: 

Forexfactory.com

2b555c38 f5d7 4d2f aa01 56e00c868eaf

 

 

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.