FOMC this week + Futures Trading Levels for 7.26.2022 - Support & Resistance Levels

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

FOMC this week + Futures Trading Levels for 7.26.2022

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CME Fed Watch Tool

By John Thorpe, Senior Broker
“Wall Street’s Big Adventure” Not only do many analysts consider this the biggest earnings week of the 2nd Quarter but Fed Chairman Jerome Powell will be taking about the Fed’s newest rate decision. If you have followed previous blog posts you will know how to use this tool. Remember, the market discounts expectations and any surprise from expectations are what actually move the markets in the short run.
Tuesday after the market close MSFT, GOOGL, GOOG, MCD and GM, Earnings estimates for 4 of those five are slightly positive on a per share basis, except for GM, -7.43 percent decline from the past quarter… moving on to Wednesday we have META formerly Facebook after the close -4.26% expectation and on Thursday AAPL and AMZN .
2ND Quarter GDP will be released Pre -Open at 7:30 CDT: according to Second-quarter GDP is expected to accelerate to 0.5 percent annualized growth versus first-quarter contraction of 1.6 percent. Personal consumption expenditures, after the first-quarter’s plus 1.8 percent rate, are expected to rise 1.3 percent.
As always, plan your trade and trade your plan. Please contact your broker or Cannon Trading with any questions.

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Futures Trading Levels


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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.

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