Cannon Futures Weekly Letter
In Today’s Issue #1247
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The Week Ahead – Israel – Iran, End of Quarter 2, Powell Testimony
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Futures 102 – Podcast – Day Trade Futures?
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Hot Market of the Week – July Milk
- Broker’s Trading System of the Week – Mini Dow Jones Swing Trading System
- Trading Levels for Next Week
- Trading Reports for Next Week
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Important Notices: The Week Ahead
By John Thorpe, Senior Broker
Iran – Israel Conflict
Treachery in the Middle East, 2-day Fed Chair Powell congressional testimony (historically more volatility on day 1), Heavy Fed Speakers and the end of Quarter # 2, 2025.
Remember that current market drivers for Equities are hard data on Jobs, Inflation, Trump tweets and Geopolitics, clearly the Isreal/Iran conflict jumps to the top of the list here.
Continued volatility to come as next week all markets will be reacting to whatever comes out of the Israel/Iran conflict, The FRB, U.S. Govt leadership relating to conflicts cessation and trade deals.
Earnings Next Week:
- Mon. KB Home
- Tue. Fedex, Carnival
- Wed. Micron, General Mills
- Thu. Nike, Walgreens
- Fri. Oracle
FED SPEECHES: (all time CDT)
- Mon. Waller 2:00am (from the Central Banking conference in Prague), Bowman 9:00 am, Goolsbee 12:10 pm, Kugler 1:30 pm
- Tues. Hammack 8:15 am, Chair Powell Congressional Testimony 9:00 am (House), Williams 11:30 am, Collins 1:05 pm, Barr 3:00 pm
- Wed. Chair Powell Congressional Testimony (Senate) 9:00 am
- Thu. Barkin 7:00am, Hammack 8:00am, Barr 12:15pm
- Fri. Williams 6:30 am, Cook and Hammack 8:15 am
Economic Data week:
- Mon. SP composite PMI, Existing Home sales
- Tue. RedBook, Case-Schiller Home data, CB Consumer Confidence, Richmand Fed,
- Wed. Building Permits, EIA Crude oil stocks, New Home Sales
- Thur. Chicago Fed Index, Core PCE, Durable Goods, GDP Growth Final, Retail Inventories, Pending Home Sales, EIA NAT GAS Storage,
- Fri. Core PCE, Mich. Consumer Sentiment,
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Ask a Broker: What is Day Trading Futures, Part 2?
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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 Class III Milk
July class III milk continues to slide and has negated the remaining unmet upside PriceCount near 23 cents (not shown for presentation purposes) with the trade below the late April reactionary low. At this point, the chart would need to violate the contract low before it could take aim at the third downside count to the 16.89 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
Position Trading Cont v.3_ E-mini Dow Jones YM
Markets Traded: YM – Mini Dow Jones
System Type: Swing Trading
Risk per Trade: varies
Trading Rules: Partially Disclosed
Suggested Capital: $25,000
Developer Fee per contract: $140.00 Monthly Subscription
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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.
IMPORTANT RISK DISCLOSURE
Futures trading is complex and carries the risk of substantial losses. It is not suitable for all investors. The ability to withstand losses and to adhere to a particular trading program in spite of trading losses are material points which can adversely affect investor returns.
The returns for trading systems listed throughout this website are hypothetical in that they represent 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 backadjusted data (backadjusted).
Please read carefully the CFTC required disclaimer regarding hypothetical results below. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.
NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING.
FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.
THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
Please read full disclaimer HERE.
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Would you like to get weekly updates on real-time, results of systems mentioned above?
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Trading Levels for Next Week
Daily Levels for June 23rd, 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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