The Week Ahead – FOMC Minutes, NVIDIA, Middle East PLUS: Trading Around Key Economic Reports FREE Online Course! Futures 102 – The Daily Briefing – What the Pros Know Before Trading, July Meal, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures the Week of May 18th, 2026
The Week Ahead – FOMC Minutes, NVIDIA, Middle East
Trading Around Key Economic Reports FREE Online Course!
Futures 102 – The Daily Briefing – What the Pros Know Before Trading
July Soymeal Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week
At A Glance Levels
Instrument
S2
S1
Pivot
R1
R2
Gold (GC)
— June (#GC)
4419.80
4482.10
4576.10
4638.40
4732.40
Silver (SI)
— July. (#SI)
70.79
73.60
78.99
81.81
87.20
Crude Oil (CL)
— June. (#CL)
95.81
98.61
100.02
102.82
104.23
June Bonds (ZB)
— June. (#ZB)
109 17/32
110 3/32
111 4/32
111 22/32
112 23/32
What Futures Traders Should Watch This Week
By John Thorpe, Senior Broker
fomc
Risk-off? Nvidia earnings, FOMC Minutes and a few fed speakers.
This week we have seen new highs and lower lows as the roiling markets are speaking loudly about the world we are living in.
Risk-off psychology in futures and commodity markets usually lasts a few days to a few weeks however, it can stretch to months when the catalyst is macro-level like a growth scare, a dollar spike, a geopolitical shock or a central bank surprise. In 2026, the pattern looks similar: the initial selling can be sharp, however the psychology tends to fade once the market sees either some policy support, clearer demand/supply data or improving liquidity.
Typical Duration
· Initial Shock: 1-2 days for an event driven fear
· A macro reset: 2 weeks to 2 months when traders reprice inflation, rates and growth (fog clears)
· Extended risk-off: several months to multiple quarters if the shock changes the economic outlook or affects major supply chains.
Why Risk-off can persist
When CTA’s trend followers and managed money are forced to de-lever or the dollar and interest rate yields continue to rise, money managers liquidate positions, go into cash and wait for “quiet markets before they put risk back on.
The psychology usually turns when one or a few of these events happen:
· The dollar stabilizes
· Volatility stops rising
· Physical market data show tighter supply than feared
· A geopolitical or weather shock gets priced in fully
The safest assumption is that risk off in futures and commodities is usually temporary but can occur in waves rather than ending in one clean reversal.
Some markets in the commodity universe employ a daily price limit, today was had one in the cotton market.
As of March 2026, the Intercontinental Exchange (ICE) Futures U.S. Cotton No. 2 futures contract has a standard daily price limit of 4 cents per pound (400 points) above or below the previous day’s settlement price.
Here are the key details regarding ICE Cotton daily limits:
Standard Limit: The initial daily price limit is generally 4 cents per pound.
Expansion Mechanism: If any of the first five delivery months settle at the limit, the daily price limit for all contract months expands to 5 cents per pound (500 points) on the next business day.
Maximum Potential Limit: The daily price limit can expand up to a maximum of 7 cents per pound based on, and triggered by, previous days’ limit moves.
Covering your positions with stops ot options can help reduce risks in both bull and bear markets, even if they are short lived.
Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?
The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program.
Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.
Plan your trade and trade your plan!
Earnings Next Week:
· Mon. Quiet
· Tue. Home Depot, Keysight technologies, Toll Brothers
· Wed. Nvidia, TJX, Analog Devices, Lowes, Intuit, Target
Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.
That intelligence stays locked inside trading desks, institutional terminals, and private client portals — accessible only to the few who pay for the privilege, and even they only get what they pay for.
This briefing changes that ( 100% FREE on Cannon’s website!!). Every morning we scour the open web and aggregate everything that matters — pulling from publicly available sources so you never have to — and distill it into one clear, readable edition you can get through before your first coffee is finished.
No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.
July Meal has extended its rally into a new recent high where the chart is completing it’s second upside PriceCount objective, consistent with a challenge of the November high. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade. At this point, IF the chart can break out and sustain new highs, the third count would project a possible run to the $365 area.
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.
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.
First Notice (FN), Last trading (LT) Days for the Week:
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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.
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.
