Futures Market & Trading News with Daily Levels August 10th 2010

“‘The News can really Move the Futures Market”

FOMC tomorrow around 14:15 EST

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow. If you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the futures market.

My observations suggest choppy, low volume up until announcement, followed by some some sharp volatile moves right during and after the announcement.

Futures & Commodity Trading Levels (Potential Support/Resistance):

Futures & Commodity Trading Levels (Potential Support/Resistance)

This Week’s Calendar from Econoday.Com
All reports are EST time
Tuesday August 10th – http://mam.econoday.com/byweek.asp?cust=mam

• NFIB Small Business Optimism Index – 7:30 AM ET
• ICSC-Goldman Store Sales – 7:45 AM ET
• Productivity and Costs – 8:30 AM ET
• Redbook – 8:55 AM ET ]
• Wholesale Trade – 10:00 AM ET
• 4-Week Bill Auction –  11:30 AM ET
• 3-Yr Note Auction – 1:00 PM ET
• FOMC Meeting Announcement – 2:15 PM ET

Disclaimer:
Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. This is not a solicitation of any order to buy or sell, but a current futures 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!