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.
NFP – Non farm Payrolls tomorrow. This is a market moving economic reports and the last few months we have seen some very SHARP moves right around the number. Be prepared!
Below are the contracts which are entering First Notice or Last Trading Day for the upcoming month. Be advised, for contracts that are deliverable, it is requested that all LONG positions be exited two days prior to First Notice and ALL positions be exited the day prior to Last Trading Day.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
Futures Trading Levels
for 12-02-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Feb. Gold #GC_F March Silver #SI_F Jan. Crude Oil #CL-F March Bonds #ZB_F March 10 yr #ZN_F March Corn #ZC_F March Wheat #ZW_F March Beans #ZS_F March SoyMeal #ZM_F Jan. Nat Gas #NG_F March Coffee #KC_F March Cocoa #CC_F March Sugar #SB_F March Cotton #CT_F March Euro Currency
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.
Tomorrow is also the last trading day of the month – busy day with different reports and Fed’s Powell speaking..
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
Futures Trading Levels
for 11-30-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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.
You’ll often hear us say ‘plan your trade and trade your plan’.
I’ll add to that “and keep a detailed Trading Journal or Trading Diary”.
There are a number of important ways you can develop as a trader by documenting and reviewing your daily trading activity.
Skill development – a diary allows you to see where in your analysis you were correct, but most importantly where you were wrong. Most of us find it difficult to admit when a mistake has been made. A conversation in the mirror is helpful to overcome this frailty. Not calling out your mistakes will hinder you as a trader, learning from your mistakes is one of the most effective ways of improving any skill set. Michael Jordan’s secret to success was captured in his quote; “I’ve missed more than 9000 shots; I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that’s why I succeed” Fearlessness when it came to failing. Honesty first, with yourself.
Improves your trading strategy- giving yourself the ability to look back and potentially avoid making the same mistake more than once. You can identify the successful strategy whether it was due to a set-up, a particular way the market was behaving, before a report or after one or perhaps your risk management strategy. After evaluating the success or failures of your trading strategy, you may conclude that you need to change that strategy.
Key elements to your diary-
Date and time
Position size ( in notional value relative to your account size)
Details of the transaction, Long or Short, entry price, risk management used (stop, option or spread) trade outcome. Keep notes of specific market behavior during times like holiday trading, specific reports ( CPI, NFP etc.)
Record your why, your rationale for the trade. Record your emotional state (well rested, anxious, excited) Was it a busy day?, did you monitor the trade?, did you go to the gym?, did you leave for a few hours? Why did you close the trade? Did you get nervous? Was the market beginning to change complexion?
Setting aside time to review your journal once a week is highly recommended to gain the maximum use out of the experience. A trading journal or Trading Diary is not just about the initial documentation, but the review is what will create a better understanding of triggers, both good and bad that you can learn from and improve your trading strategy for years to come.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
Futures Trading Levels
for 11-29-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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.
Cannon Trading extends a warm thank you to all of our clients for a memorable and safe holiday. Blessings to all.
Make sure you are aware of the trading schedule for the markets you trade! Some Markets will be open each day under abbreviated hours, some markets like the agricultural, grain and livestock venues will be closed Thursday and short hours Friday.
This week, the U.S. Justice Department announced that two Estonian citizens were arrested for their alleged involvement in a $575,000,000 cryptocurrency fraud and money laundering conspiracy.
Also this week, a notable Chinese venture investor, Bo Shen revealed he lost $42 million worth of crypto as a result of a theft from his personal wallet. Most of those assets were denominated in US Dollar Coin (USDC), a stablecoin created jointly by fintech company Circle, and crypto exchange Coinbase.
Most notably in the news recently, the collapse of crypto platform FTX continues to rattle the world of digital assets. In this instance, FTX’s customers’ funds on are still frozen, and they are losing hope they will ever get much back. It’s customers number in the millions. The 50 largest creditors alone are owed more than $3 billion dollars.
It makes you wonder about the safety and integrity of trading crypto assets.
Let this be a reminder that the world’s largest futures and options exchange – the CME Group – offers you a choice for managing cryptocurrency risk with Bitcoin and Micro Bitcoin futures and options. With efficient price discovery in transparent futures markets, prices based on the regulated CME CF Bitcoin Reference Rate (BRR) and easily traded on your supported trading platform.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
Futures Trading Levels
for 11-24-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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.
Could be a busy, volatile day tomorrow ahead of Thanksgiving!
We have a day full of reports!
Home sales, Flash services PMI.
Both crude oil and natural gas numbers tomorrow. Crude as usual at 9:30 AM central and natural gas at 11 AM central.
FOMC Minutes as well.
Make sure you are aware of the trading schedule for the markets you trade! Some Markets will be open each day under abbreviated hours, some markets like the agricultural, grain and livestock venues will be closed Thursday and short hours Friday.
Cannon Trading extends a warm thank you to all of our clients for a memorable and safe holiday. we will continue to post the exchange hours throughout the week. Blessings to all.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
Futures Trading Levels
for 11-23-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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.
For those who enjoy the history of any day or event I’ve included a historical highlight from history.house.gov of the national Thanksgiving holiday from George Washington’s Proclamation Nov. 26, 1789 through a House of representatives bill, signed into law in December of 1941 as a national day of thanks. https://history.house.gov/Historical-Highlights/1901-1950/The-Thanksgiving-holiday/
During this week, volume tends to trickle compared to no holiday weekday trading. ES volume today was about 60% of the volume last Monday.
Some Markets will be open each day under abbreviated hours, some markets like the agricultural, grain and livestock venues will be closed both Thursday and Friday.
Cannon Trading extends a warm thank you to all of our clients for a memorable and safe holiday. we will continue to post the exchange hours throughout the week. Blessings to all.
A Cannon broker will be able to assist, provide feedback and answer any questions.
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 when it comes to Futures Trading.
Futures Trading Levels
for 11-22-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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.
The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The closing times for certain contracts may have been rescheduled.
Daily email to traders identifying trading opportunities (signals) on more than 20 specific tickers per a discrete set of rules and conditions/algorithms.
Do it yourself or utilize an experienced broker to assist you or take the trades on your behalf with a letter of direction!
IMPORTANT PLEASE NOTE: TRADING COMMODITY FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THIS LETTER ARE OF OPINION AND DO NOT GUARANTEE ANY PROFITS. THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
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 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
When looking at a level II Depth of Market D.O.M. display we see the bids and offers 10 deep on either side of the market. This used to be tradeable information until the Algorithms started to become more prevalent around 2008-9 and created a less transparent, meaningful order book. Orders or rather, Bids and Offers would be cancelled and replaced making it difficult to see where the aggression was playing out giving the trader a clear as mud picture of price direction. Footprints reveal Points of Control P.O.C. ( highest volume price levels within the time frame bar) and can provide an area of decision making separate or in conjunction with S & R levels, Fib levels or similar areas of probability. Footprint charts, when mastered can reveal order book imbalances , Buy or Sell imbalances and give you, the trader the ability to identify your side of the market as you always want to buy with more aggressive bidders and sell with more aggressive offers.
Volume Footprint
Bid/Ask Footprint
Delta Footprint
Using Footprint charts may aid in trade management.
Cannon offers several trading platforms that offer unique insight into order flow, footprints, market profile and MORE!
A Cannon broker will be able to assist, provide feedback and help you evaluate.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
Futures Trading Levels
for 11-18-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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.
The CME Group and ICE observe Thanksgiving, Christmas and New Year’s Day. “Observe,” translates to abbreviated trading hours for some the major commodity markets.
It’s a good idea to know the abbreviated trading hours and the best place to go for these is straight to the source.
The link below will take you to the page on the CME Group web site where you’ll find the 2022 CME Globex Trading Schedule:
It’s not too early to give traders the heads up: Wednesday, Nov. 30 is First Notice Day for a slew of major futures contracts, including December Financials (T-bonds, T-notes), December grains (corn, Chi., K.C., MN wheat, Soybean oil, Soymeal) and December metals (gold, silver & copper). Plan to roll your long positions to the next front month in the days ahead.
Remember, all these contracts are deliverable, meaning if you hold any long position through First Notice Day, you’re giving the exchange notice that you intend to take physical delivery of the futures contract’s underlying commodity, like 5,000 bushels of corn. In case you haven’t contemplated the size of that, it’s 280,00 pounds, or 140 tons of corn. It would take two standard 45-ft. shipping containers to bring that to your front door. Incidentally, you’ll receive a $100,000 10-yr. Treasury note if you hold its futures contract through First Notice Day.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
Futures Trading Levels
for 11-17-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds #ZB_F Dec. 10 yr #ZN_F Dec. Corn #ZC_F Dec. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept. Euro Currency
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.
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
