Commodity Market News & Information on Cannon Trading

Commodity Trading

Category Archives: Commodity Trading

Investment is a game of money of securing future money by taking a risk today. Trading therefore comes with a list of rules to play by. Commodity trading in particular offers tremendous potential for becoming a completely different asset class.

However, before investing in any kind of commodity, you must do an in depth research and also ask your broker as many questions as possible. Through this category archive we provide you as much information and valuable insights into the world of commodity trading.

We at Cannon Trading are here to help you with your commodity trading needs. You as a trader should select your commodity trading advisor only after performing a due diligence on him/her. We in fact do that for you. This way, you get only the best advice to help you with your commodity trading.

We’ve got the information that you might need at every step of commodity trading, and you’ll find it all right here in the commodity trading section of our blog. Read up, and read on to get equipped!


Rollover Reminder for Index Traders as June Contracts Give Way to September

June 13th, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, E-Mini Futures, Future Trading News, Futures Trading, Index Futures, Indices, Nasdaq, S&P 500 | Comment (0)

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For all of you index traders, you may have noticed the shrinking Open Interest and Volume in the June contracts. It’s that time when volume shifts to the next quarterly expiration contract. September! the symbol is U.

 

June volume will be drying up quickly, don’t get stuck next Friday morning with a June contract at the crack of dawn when the carousel stops.

I personally start trading the September, U contract this Monday but many traders will start switching as of today….just make sure your charts are aligned – meaning that both the DOM and the charts use the same symbol.

Watch video below on how to rollover if you are a stock index trader on our E-Futures Platform!

 

 

 

 

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

 

 

 

Daily Levels for June 14th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


Fed Policy Holds Steady Amidst Economic Indicators

June 12th, 2024 Filed under Commodity Brokers, Commodity Trading, Economic Trading, Future Trading News, Futures Broker, Futures Trading, futures trading education, Index Futures, Indices, Nasdaq, S&P 500, Trading Guide | Comment (0)

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Listen to our Market Recap Podcasts on Apple Podcasts

 

 

Bullet Points, Highlights, Announcements

 

 

General: 

 

It’s looking like it’s going to be a slog of a summer for Fed policy as officials once again took a wait-and-see approach as the Federal Reserve left interest rates unchanged in their June decision.

 

Based on the most recent economic data – including this morning’s lower-than-expected Consumer Price Index

reading – the central bank predicted it would cut borrowing costs just once before the end of 2024, a sign that they plan to be patient before turning a corner in their fight against inflation.

 

Powell suggested any change in policy will depend on inflation slowing, but that rate cuts could also come if the job market breaks down unexpectedly.

 

The consumer price index held flat in May though it increased 3.3% from a year ago. Both numbers were 0.1 percentage point below market expectations.

 

Next up tomorrow at 7:30 A.M., Central Time, the Bureau of Labor Statistics releases its latest reading on prices at the wholesale level: its Producer Price Index.

 

Stock Indexes:

 

The E-mini S&P 500 jumped to a record and closed above 5,400 for the first time Wednesday after May inflation data pointed to easing pricing pressures and the Federal Reserve’s latest policy announcement.

 

The E-mini Nasdaq gained about 1.5%. Both the S&P 500 and Nasdaq hit all-time intraday highs and closed at all-time record highs today.

 

 

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

 

 

 

Daily Levels for June 13th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


FOMC Tomorrow and CPI: Strategies for Trading Amidst Volatility

June 11th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Economic Trading, Future Trading News, Futures Broker, Futures Trading, futures trading education, Trading Guide | Comment (0)

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FOMC and CPI Tomorrow!

CPI will be first and the last 10 CPI or so reports have been pretty volatile with large moves happening as soon as the numbers come out. Be careful of “vacuum”, lack of liquidity for few seconds when the report comes out.

 

Once the report settles, cash stocks open we will have the energy numbers and then a couple of hours before FOMC rate decision…

FOMC Rate decision tomorrow.

The following are my PERSONAL OPINION on trading during FOMC days:

 

·    ·Reduce trading size

 

·    Be extra picky = no trade is better than a bad trade

 

·    Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 5325.00 with a stop at 5319.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 5319.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).

 

·    Expect the higher volatility during and right after the announcement

 

·    Expect to see some “vacuum” ( low volume, big zigzags) right before the number.

·    Consider using automated stops and limits attached to your entry order as the market can move very fast at times.

·    Know what the market was expecting, learn what came out and observe market reaction for clues

·    The rate announcement comes out exactly at 1 PM central. As of this morning there is a 99.1% chance of no change in rates.

 

·    Traders will pay EXTRA attention to the language and the Q&A which starts at 1:30 PM Central

 

·    Be patient and be disciplined

 

·    If in doubt, stay out!!

 

 

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

 

 

 

Daily Levels for June 12th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


Deciphering FOMC: Navigating Market Volatility

June 10th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Economic Trading, Future Trading News, Futures Broker, Futures Trading, Trading Guide | Comment (0)

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Trading chart

 

FOMC Week

By John Thorpe, Senior Broker

 

This week’s market moving features will be the closely watched with CPI pre market Wednesday and The FOMC meets Tomorrow and Wednesday.

The FOMC statement released at 1:00 CT on Wednesday will give a close read for any guidance in regard to the interest rate outlook.

This meeting will also be the release of the “Summary of Economic Projections” or SEP

The prior SEP was issued on March 20 and implied three rate cuts of 25 basis points later in 2024. Shortly after that, the data on inflation, the labor market, and economic growth made that projection out-of-date.

It is widely anticipated that the SEP will reduce the forecast for rate cuts to only one or two this year.

Powell’s prepared remarks regarding this rate decision will occur @1:30 CT.

Traders who are well informed know of the Interest Rate decision probabilities “Baked” into the market. They use the CME’s FedWatch tool.. as we do.

If you would like a personal tutorial, please call 800 454 9572 and simply ask for a fed watch tutorial!  The current probability of no rate movement up or down this week is 99.1 %.

If you are curious about the Next fed meeting in July? It’s currently @ 91.1 % probability of stay the same with an 8.9% chance of a .25 reduction.

From a trader’s standpoint, it’s fascinating to watch these percentages change intraday as new data, like the Wednesday CPI release, will undoubtedly change the percentage probabilities for all future FOMC rate decision meetings on the calendar.

Plan your trade and trade your plan

 

 

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

 

 

Daily Levels for June 11th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


Weekly Newsletter: Forecasting the Soybean Market and Milk Futures Analysis + Futures Levels 6.10.2024

June 7th, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, Futures Broker, Futures Trading, futures trading education, Trading Guide, Weekly Newsletter | Comment (0)

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Cannon Futures Weekly Letter Issue # 1197

In this issue:
  • Important Notices – FOMC is the main event
  • Futures 101 – 5 Things You Need to Know About Soybeans 2024
  • Hot Market of the Week – July Class III Milk
  • Market Scanner – For Monday June 10th
  • Broker’s Trading System of the Week – Crude Oil Day Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

Important Notices – Next Week Highlights:

  • Monday starts quietly
  • Tuesday FOMC Meeting begins. Oracle announces Earnings after the close.
  • Heavy Wednesday! CPI Pre-Market, WASDE and Crop Production, FOMC Rate Decision, Chairman Powell presser, Broadcom Earnings after the close
  • Thursday, the data keeps rolling; Jobless Claims, Producer Price Index, NY FED President Williams speaks, Adobe earnings after the close
  • Friday Michigan consumer Sentiment, Chicago Fed President Goolsbee speaks.
  • Monitor Open interest and Volume between June (M) indices and September (U) Look to begin trading September the following Monday.

 

 

 

Futures 101 :

Five Things to Watch in the Soybean Market in 2024

By AgResource

 

The opinions expressed in this report are those of AgResource and are considered market commentary. They are not intended to act as investment recommendations. Full disclaimers are available at the end of this report.
HIGHLIGHTS
Actual size of 2024 Brazilian crop
There’s currently no consensus on the size of Brazilian soybean production in 2024. South America’s surplus will be large in almost any scenario, but there’s currently a discrepancy of 6.3 million tons between the Brazilian government (CONAB), which projects production at 147.7 million tons, and USDA, which estimates production at 154 million. Some in the trade are still forecasting Brazilian soybean production in 2024 at 140 million tons or less, and some forecast production above 155 million tons.

 

 

  • Hot Market of the Week – July Class III Milk

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
The July milk chart satisfied its third upside PriceCount objective last month and has developed a sideways consolidation trade. At this point, IF you can extend the rally with new sustained highs, we are left with the low percentage fourth count to aim for in the 24.75 area.
PriceCounts – Not about where we’ve been , but where we might be going next!
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.
Market Scanner
If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

   Broker’s Trading System of the Week

With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.

Balance Cont. V2 Copper

PRODUCT
SYSTEM TYPE
Swing
Recommended Cannon Trading Starting Capital
$20,000
COST
USD 150 / monthly

The performance shown above is hypothetical in that the chart represents 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 back adjusted data. Please read full disclaimer HERE.
Would you like to receive daily support & resistance levels?
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Daily Levels for June 10th 2024

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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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