Cannon Futures Weekly Letter Issue # 1189
- Important Notices – Earnings, Gold all time Highs & More
- Trading Resource of the Week – Trading Videos
- Hot Market of the Week – May Crude Oil
- Broker’s Trading System of the Week – NQ Swing System
- Trading Levels for Next Week
- Trading Reports for Next Week
Important Notices –
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- Earnings Tues- JNJ,BAC ,Morgan Stanley MS, Wed. -ABT, Thu.- AXP, NFLX
- Econ Data Mon- Retail Sales , Tues Housing Starts, Bldg Permits , Thu. Jobless claims, Existing home sales..
- quiet on the fed speaker front
- No Congressional action to speak of
- The U.S. dollar index this morning forged another higher high and reached the highest level since early November.
- With the June gold futures contract breaking a string of new all-time highs (eight straight days) yesterday, the market is facing the first definitive corrective environment since the middle of last month.
- The bearish sentiment in financial futures (30-yr. T-bond, 10-yr. T-note) is escalating dramatically and could become overdone soon with some chatter in the market suggesting there might not be a single rate cuts this year.
- Crude oil may see support this week from renewed talk of an imminent Iranian retaliation (as per U.S. officials) for the Israeli attack in Syria. U.S. officials have openly suggested Iranian retaliation against Israel is likely soon. Fears of disrupted supply remain front and center.
Trading Resource of the Week: Trading Videos, Instant Viewing
- Hot Market of the Week – May Crude Oil
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Broker’s Trading System of the Week
Daily Levels for April 15th 2024
Trading Reports for Next Week
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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.