Cannon Futures Weekly Letter
In Today’s Issue #1240
- LIVE, FREE Demo for Futures & Options
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The Week Ahead – FOMC, OPEC, Earnings and FedSpeak Blackout week!
- Futures 102 – Cryptocurrency Futures Course
- Hot Market of the Week – July Rapeseed
- Broker’s Trading System of the Week – Notorious ES Day Trading System
- Trading Levels for Next Week
- Trading Reports for Next Week
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Free Demo: Live Data, Streaming Charts
Introducing the newest trading platform to our already prominent selection: CannonX
- Cloud-based and compatible with Windows and MacOS
- Top-of-the-line tradable charts with abundant indicators and drawing tools
- Option quotes display for all expirations and including all “Greeks.”
- Quote programmability for straight futures and options as well as futures and option spreads, including multi-leg/complex options spreads.
- Depth-of-market display at your fingertips for any of the position types listed aboveFull, easy-to-read account information display
START YOUR DEMO NOW
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Important Notices: The Week Ahead
By John Thorpe, Senior Broker
FOMC, Heavy Earnings and FedSpeak Blackout week!
Fed Rate Decision, Heavy Earnings and FedSpeak Blackout continues until…the dam breaks early Friday Morning! 6 speakers!
More volatility to come as next week all markets will be reacting to the potential for tariff implementations creating uncertainty in the marketplace. Therefore, increased volatility expectations continue but that’s not all. Plenty of Hard Data on the economy next week between earnings and Institutional data releases.
Highlights next week will include FOMC Rate announcement as well as Energy data, specifically coming into Sunday night as the originally scheduled OPEC policy meeting for Monday was moved forward to Saturday. Policy announcement impacts should hit the Sunday evening session as well as our normally scheduled Wed. and Thu. EIA releases on the Crude, distillates supply along with Natural Gas supply and demand. Stock Index Impactful earnings reports in the following industries will add to the volatility punch bowl: Entertainment, Technology, Retail, Pharma and Energy.
FOMC
Earnings Next Week:
- Mon. Quiet
- Tue. AMD, Arista, Duke energy
- Wed. Uber, Disney, DoorDash
- Thu. Shopify, Conoco Phillips, McKesson
- Fri. Quiet
FED SPEECHES:
- Mon. Fed Blackout period
- Tues. Fed Blackout Period persists
- Wed. 1:00pm CDT Fed Rate Decision 5/7/25 Chair Powell will Speak, 30 minutes after the rate decision.
- Thu. Fed Blackout Period persists
- Fri. Blackout over,5:00 am CDT Williams, 5:45 am CDT Barr, 7:30 am CDT Kugler, 9:00 am CDT Goolsbee, 10:30 am CDT Waller and Williams.
Economic Data week:
- Mon. ISM Services PMI,
- Tue. Redbook, Econ Optimism index
- Wed. EIA Crude Stocks, Used Car prices, FOMC Interest Rate decision, Consumer credit change
- Thur. Initial Jobless Claims, Wholesale Inventories, EIA Nat Gas, Consumer inflation expectations.
- Fri. Quiet
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Futures 102: Intro to Cryptocurrency Futures
Course overview
Cryptocurrency futures, available at CME Group, provide market participants with multiple products for cryptocurrency risk management or market expression. Expand your understanding of the cryptocurrency markets, products, and underlying reference rates. This course covers:
- Bitcoin
- Ether
- Micro Bitcoin
- Micro Ether
- Options on Bitcoin futures
- BTIC on Cryptocurrency futures
Start FREE Course Now
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Hot Market of the Week
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
July Rapeseed
July rapeseed is extending its rally and is poised for a challenge of the high from last spring. At this point, a sustained breakout into new highs would project a potential run to the low percentage fourth upside PriceCount objective to the 762 area.
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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.
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Brokers Trading System of the Week
Notorious ES Trading System
Market Sector: Stock Index Futures
Markets Traded: ES
System Type: Day Trading
Risk per Trade: varies
Trading Rules: Partially Disclosed
Suggested Capital: $30,000
Developer Fee per contract: $110.00 Monthly Subscription
System Description:
Trade ES futures. System coded to seek long or short entries, and the system only uses the higher probability signal. System contains a money management component.
Get Started
Learn More |
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| Disclaimer The risk of trading can be substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance is not necessarily indicative of future results.
Futures Trading Disclaimer:
Transactions in securities futures, commodity and index futures and options on futures carry a high degree of risk. The amount of initial margin is small relative to the value of the futures contract, meaning that transactions are heavily “leveraged”.
A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit: this may work against you as well as for you.
You may sustain a total loss of initial margin funds and any additional funds deposited with the clearing firm to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain your position.
If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit.
Please read full disclaimer HERE.
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Trading Levels for Next Week
Daily Levels for May 5th, 2025
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| Would you like to receive daily support & resistance levels? |
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Trading Reports for Next Week
First Notice (FN), Last trading (LT) Days for the Week:
www.mrci.com
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources.
You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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