The Week Ahead, This weeks trade may be as sloppy as gravy on Friday’s hot turkey Sandwich. Thanksgiving is here in the lower 48, please check our trading hours calendar for the markets you trade below.
If you are not trading, safe travels and do enjoy the triple F…
Family, Friends and Football.
This week one big earnings number and a few important reports including a Tuesday FOMC Minutes release @ 1:00 p.m. CST . the release details the conversations and tone of the November 1st meeting, Also, Tuesday after the close Nvidia‘s third-quarter earnings report, which is due out after Tuesday’s close, analysts are anticipating a per-share profit of $3.10 compared to a year-ago profit of 58 cents per share.
Revenue is forecast to arrive at $14.9 billion (+152.5% YoY).
Wednesday earnings will essentially be featureless but not the US Gov’t Reports . Of note at 7:30 a.m. CST there are 2 impactful from Econoday.com 1. Durable goods
2.initial claims
Thursday there will be no reports – Thanksgiving Holiday here in the US ( see modified schedule below)… and don’t confuse Black Friday with Texas Tea! The OPEC meeting is taking place and will announce expectations of production cuts, how far and how fast has yet to be seen but the markets movements over the past few trading sessions are supportive of OPEC production constraints.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Here in the United States yesterday, stock index futures vaulted on the heels of the Bureau of Labor Statistics’ release of its Consumer Price Index for October, which slowed to 3.2 percent last month on a year-over-year basis, lower than the 3.7 percent reading in September and the coolest since July. Leading the way was the Russell 2000 which climbed ±95 points, $4750 per contract move for the E-mini Russell 2000 futures contract, over a 5% uptick. Compare that to the ±86-point / $4,325 per contract move up for the E-mini S&P 500, or the ±335-point / ±$6,700 move for the E-mini Nasdaq.
Investors undoubtedly anticipated the likely end to the Federal Reserve’s historical rate hike cycle and this was followed by a wave of lower CPI data from Europe when the following day (our Tuesday night) Germany, the United Kingdom and Italy all reported below-estimate consumer price readings and well below last month’s as prices abroad continued to decelerate.
In other news, President Biden and China’s President Xi will meet south of San Francisco during afternoon US trading hours.
In a development attributed to El Niño and possibly a catalyst to rising commodities prices, Central America is experiencing drought conditions so acute, the freshwater lakes associated with the Panama Canal have declined to such low levels, it’s resulted in one of the world’s largest shipping corridors having to reduce vessel traffic. The canal sees about 5% of the world’s seaborne trade travel through it and is critical for transporting commodities with petroleum, liquefied natural gas and grains among the top shipments that pass through the waterway. Ships are now spending weeks waiting at sea, sailing around South America or the tip of Africa, or paying exorbitant amounts to jump to the front of the line. Last week, a Japanese global petroleum and metals conglomerate paid a record $3.975 million in an auction for preferential line placement for one of its ships.
In a Reuters piece earlier this week, the news wire reported that Goldman Sachs is forecasting returns of 21% on commodities over a 12-month horizon, using as its basis the S&P Goldman Sachs Commodity Index (GSCI), including gains of ±31% from energy and ±18% from industrial metals. Currently, the GSCI contains 24 commodities from all commodity sectors: six energy products, five industrial metals, eight agricultural products, three livestock products and two precious metals.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Webinar password: d2GPM8kZc42 (32476859 from phones and video systems)
Helpful Tips:
Please plan to join 10 minutes in advance to ensure no technical difficulties.
For optimal audio/video quality, disconnect from your company’s VPN.
We recommend using Google Chrome as your browser.
Please test audio prior to the start of the online event. Ensure that you are using headphones for optimal sound quality and that audio is not muted.
If your internet audio and/or video experience does not work, use the dial-in numbers to join by phone
Recording Disclaimer:
This online event will be recorded for the purposes of archived viewing for attendees unable to attend the live session. By participating in this online event, you are considered to have consented to the recording. All video and audio communications must remain professional and relevant to the topic and purpose of the online event. Personal views or opinions expressed during the online event are those of the participants and may not necessarily reflect the official policy or position of CME Group.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Join our private Facebook group for additional insight into trading and the futures markets!
In this issue:
Important Notices – Thank you Veterans!
Trading Resource of the Week – 2Essentials of Order Flow
Hot Market of the Week – March Wheat
Broker’s Trading System of the Week – ZB Day Trading System
Trading Levels for Next Week
Trading Reports for Next Week
Important Notices – Thank you Veterans!
We salute to all US Vets, Saturday is Veterans Day is a federal holiday, most government agencies and schools are closed. Thank you for fighting for our freedom and your service!!
The U.S. House must, at a minimum pass a continuing resolution by Friday November 17th to keep the Government open. That is the deadline for either a complete budget or a continuing stop gap resolution.
Tuesday: CPI @ 7:30 a.m. CST Earnings-HD Home depot after the close
Wednesday: PPI @ 7;30 A.M. CST Earnings-CSCO Cisco and TGT target after the close
Thursday: Pre open WMT Walmart earnings and BABA Alibaba.
Some of the softs (Sugar, Cocoa) active month is already March 2024. Check volume or check with your broker.
click above for a LIVE demo, streaming prices
Trading Resource of the Week
Essentials of Order Flow – FREE PDF
Order Flow has been presented as a mystique to potential Traders as well as seasoned Traders. In many cases it is assumed to be an insanely difficult concept to understand. Order Flow is, at its core, the transaction between a Buyer and a Seller. As a Veteran Trader using Order Flow to base my decisions, I can say that order flow is the very core of any market.
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 Wheat completed its second downside PriceCount objective and has developed a sideways range trade. At this point, IF the chart can resume its break with new sustained lows, the third count would project a possible run to the $5.08 area.
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
Broker’s Trading System of the Week
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
Would you like to receive daily support & resistance levels?
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Hopefully if you are already trading you have completed your initial education: contract specs, trading hours, futures brokers, platforms, the opportunities as well as the risk and need to use risk capital in futures, and so on. Understanding this information is essential to good futures trading strategies. The second type of education is ongoing: learning about trading techniques, the evolution of futures markets, different trading tools, and more.
2. Find A System
I am definitely not advising you to go on the web and subscribe to a “black box” system (using buy/sell triggers if don’t know why they are being generated). What I am advising is developing a trading technique: a general set of rules and a trading concept. As you progress, you may want to put the different rules and indicators into a computerized system, but the most important factor is to have a focus and a plan. Don’t just wake up in the morning and trade “blank.”
3. Survival
This is the key! Do what you need to do in order to survive this brutal business and give yourself the chance of being here down the road with more experience and a better chance of success. Survival is probably the biggest key for beginning traders. There is a saying in this business: “live to trade another day.” It is so true!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
The Week Ahead: Earnings, Govt Reports, Powell Speech and any geopolitical developments
By John Thorpe, Senior Broker
Earnings, Govt Reports, Powell Speech and any geopolitical wrangling’s, events or additional crises always have the potential to move markets away from their trading ranges.
First up are the earnings reports, This week, due to the fact we don’t have any big names ( FAANG) reporting. Those 5 stocks individually can swing the markets violently on their respective earnings days with any surprises.
Instead, this week, we have 1400 plus earnings reports out on some names you would certainly be familiar with like Disney. The market is looking this week at sector earnings since there is no large cap phenom reporting the week.
IF the biomedical group stumbles with earnings this week, or the retail sector shows signs of weakening, construction sector, finance, the market will be looking at the health of sectors this week as earnings are pumped out before the open, during and after the trading sessions. So don’t expect sharp movements in the stock index prices this week from Earnings, but you can expect markets turning over in a more measured manner as reports flow.
Governmental Reports: yes we have a few but they tend to by a bit more fringe than say NFP or CPI, we do have a Jobless claims number this week on Thursday @ 7:30 CST.
Claims for November 4 week are expected @ 220K vs 217K the week prior. If you are looking for strong undercurrents in the markets you may find that Wednesday and Thursday will be your best bets. FRB Chair Powell will be speaking both days at separate events, Wednesday very early @8:15 CST followed by a later 1PM CST Thursday talk.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Join our private Facebook group for additional insight into trading and the futures markets!
In this issue:
Important Notices – Daylight saving officially ends
Trading Resource of the Week – 25 Options Strategies
Hot Market of the Week – December Mini SP
Broker’s Trading System of the Week – NQ Day Trading System
Trading Levels for Next Week
Trading Reports for Next Week
Important Notices – Daylight saving officially ends
Heads up traders in the United States. Get ready to set your clocks back one hour this Sunday, November 5th. Daylight saving officially ends on the first Sunday in November for the United States, which is this coming Sunday.
This follows the UK and European Union adjustment, which takes place the last Sunday in October, so our European traders have already “fallen back.”
Over 1900 stocks report earnings next week . Main feature for Equities markets with an over quiet week of Govt Rpts, Consumer Credit Tuesday and Jobless claims on Thursday would be the two majors the Fed will be looking at hence may impact short term market direction.
On the Ag front the Monthly WASDE numbers will be released on Thursday and will be an important one for the size of our harvested crops.
There will be 7 speeches / presentations next week by Fed Governors, 2 by Fed Chair Powell. The first, Wednesday @ 8:15 am CST @ the Research and Statistics Centennial Conference in D.C. . The second Thursday@ 1:00 p.m. CST At the 24th Jacques Polak Annual Research Conference, Washington, D.C.
Lastly , in a salute to all US Vets, Friday is Veterans Day is a federal holiday, most government agencies and schools are closed. Many banks are also closed on Veterans Day, as it’s a designated federal holiday. All markets will remain open for your trading pleasure.
click above for a LIVE demo, streaming prices
Trading Resource of the Week
Strategies For Trading Options
Learn about the 25 Proven Strategies for trading options on CME Group Futures for FREE!
If you are currently trading options on futures or are interested in exploring them further, check out our newly updated trading guide, featuring 25 commonly used options strategies, including butterflies, straddles, strangles, backspread and conversions. Each strategy includes an illustration demonstrating the effect of time decay on the total option premium involved in the position.
Options on futures rank among our most versatile risk management tools, and are offered on most of our products. Whether you trade options for purposes of hedging or speculating, you can limit your risk to the amount you paid up-front for the option while maintaining your exposure to beneficial price movements. To learn more about CME Group options, you can also visit our Options page.
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 Mini SP500 satisfied it’s second downside PriceCount objective last month and is correcting higher. At this point, IF the chart can resume its break into new sustained lows, the third count would project a possible run to the 4,015 area. It would take a trade below the December reactionary low to formally negate the remaining unmet upside objectives.
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
Broker’s Trading System of the Week
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
Would you like to receive daily support & resistance levels?
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Webinar password: p5F3V6Jcnu2 (75338652 from phones and video systems)
Helpful Tips:
Please plan to join 10 minutes in advance to ensure no technical difficulties.
For optimal audio/video quality, disconnect from your company’s VPN.
We recommend using Google Chrome as your browser.
Please test audio prior to the start of the online event. Ensure that you are using headphones for optimal sound quality and that audio is not muted.
If your internet audio and/or video experience does not work, use the dial-in numbers to join by phone
Recording Disclaimer:
This online event will be recorded for the purposes of archived viewing for attendees unable to attend the live session. By participating in this online event, you are considered to have consented to the recording. All video and audio communications must remain professional and relevant to the topic and purpose of the online event. Personal views or opinions expressed during the online event are those of the participants and may not necessarily reflect the official policy or position of CME Group.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
The big question in the October 30 week is whether the FOMC will hold the fed funds target rate range at 5.25-5.50 percent for the second meeting in a row This will be released Wednesday @ 1PM CDT .
The present crop of economic data and anecdotal evidence is expected to result in no change in rates after the October 31-November 1 meeting. Fact: US economy grew 4.9 percent in the third quarter. If the labor market reflects slower hiring activity, it also shows few signs of an acceleration in layoffs. Inflation was less improved in the September reports, but at least some of that is due to rising gasoline costs which are now moderating quickly.
Tightening in financial markets is doing some of the FOMC’s work in making credit conditions more restrictive. Last week Fed Chair Jerome Powell noted that he thinks there are “meaningful” impacts from past rate hikes still to b remain in the spotlight when it unveils its fiscal fourth-quarter results after Thursday’s close. Analysts, on average, expect Apple to report earnings up $1.31 per share (+1.6% YoY) on revenue of $84.2 billion (-6.6% YoY). born out in future data.
This sets the stage to extend the pause in the current rate hike cycle. However, Fed policymakers will remain hawkish on the inflation outlook and prepared to raise rates further if the data do not indicate further progress in disinflation. This week Non-Farm Payrolls will be released at 7:30 am CDT Friday and presumably the FED policymakers won’t know what prior impacts of rate increases will have had in hiring the past month.
As for Earnings this week AAPL will remain in the spotlight when it unveils its fiscal fourth-quarter results after Thursday’s close. Analysts, on average, expect Apple to report earnings up $1.31 per share (+1.6% YoY) on revenue of $84.2 billion (-6.6% YoY).
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
