Support & Resistance Levels

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.

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Trading Agricultural Options in Volatile Markets & Support and Resistance Levels 3.09.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

Trading Agricultural Options in volatile markets

A new options report by Rich Excell
Get actionable insights on the latest market opportunities and how to trade them using options on futures. Benefit from the experience of a widely followed veteran institutional trader who successfully managed multi-billion portfolios throughout his career.
In this week’s issue, Rich Excell examines volatility in agricultural markets and explores two ways to approach these markets using grain option strategies.
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-09-2022

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Improve Your Trading Skills

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


Economic Reports, Source: 

http://BetterTrader.Co

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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.

Size does Matter & Support and Resistance Levels 3.08.2022

Posted on by Ilan
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Size does Matter

By John Thorpe, Senior Broker
 In an effort to keep up with appropriate volatility scans, the CME is again increasing the good faith deposits required to trade WTI Crude, Heating oil and RBOB Gasoline futures.
Recently the margins have increased for Wheat and Gold futures as well as the stock indices for good reason. Geopolitical risk has put these markets on notice that the margins, already low, were not sufficient to protect clients and firms from the extreme price action these commodities have been experiencing.
The intraday moves have been nothing short of jaw dropping; with opportunity comes risk.
Many are aware of the smaller sized Micro Emini stock indices for the S&P 500 MES, Nasdaq 100 MNQ , Dow30 MYM and Russell 2000 M2K
(all indices roll from March to June this Thursday and Friday)
Did you know there were also other Micro contracts to take advantage of many of these futures contracts outsized price swings? And they are liquid too!
For the WTI Crude, the Comex Gold, Crypto Currencies and EuroCurrency contracts.
 The WTI Contracts overnight margin requirement is now going to be set tonight @ $13,500.00 and most clearing firms would rather not give a break for Day trading margins
The answer to participate in the crude market if the current volatility is too rich for your blood, you may take a look at the Micro’s :
The exchange has increased the margin several times over the past week and today’s increases are here and currently no break for Daytrading..
MORE CME energy margin increases:
You do however, have two smaller sized contracts that are plenty liquid,  the QMj22 that is a 500bbl contract and trades in .025 increments      110.025, 110.050, 110.075 and so on.. the margin is ½ the full size contract or $6750.00
And you also have the micro WTI Crude Oil MCLJ22 a 100 bbl contract  1/10 the size      that trades in minimum increments like the full size.   100.02,100.03,100.04 and so on.. the margin is 1/10th or 1320.00 per contract  The micro’s also give you the ability to trade as many crude contracts incrementally in 100 barrel units.
Would you like to contact John or any of our brokers for more feedback? We are happy to help!
Sierra + Teton Available through Cannon Trading along with other data feeds such as CQG and Rithmic.
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-08-2022

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Economic Reports, Source: 

http://BetterTrader.Co

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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.

Weekly Newsletter #1088 Options Trading & Volatility & Trading Levels for the Week Ahead 3.07.2022

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1088

Dear Traders,

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Get Real Time updates and market alerts on Twitter!

Trading 201: My Cheap Lesson on Volatility Premium

 By Josh Meyers, Series 3 Broker
I couldn’t tell you the day or the date, but the market was bearish that morning. I found the long call I liked and filled it with a limit order. A good entry, no chasing. The market jumps toward the money and I feel confident in my decision. The market climbs, but my call price doesn’t. The bid-ask of my long call hopelessly lower than I had hoped. The market moved up, but my premium did not? A greenhorn options trader, I was still learning the rules. Focused on my delta, but naïve to everything else. I’m sure I bought a market maker a steak dinner that day. My cheap lesson on how volatility impacts options premiums.
The bearish movement of the morning expanded option premiums across the board. Regardless of price direction, the ensuing contraction of volume and volatility reduced call premiums. I bought near the low of the day, but just after the peak of the volatility event. The market no longer perceived the same movement it did before and I was left with deflated extrinsic(time) value. My party was over before it started.
To rookie options traders, long calls sound premiere. Unlimited profit potential and limited risk. The problem is, they fail to recognize the multiple inputs related to the price of an option and how challenging the management can be. It’s hard enough for a trader to manage price direction, let alone price direction, speed, perception, etc. all at the same time. Mitigating variables such as time decay(theta) or volatility(vega) can be as simple as using an option spread. Had I opened a vertical spread instead of a long call, my result would’ve been better. How many mistakes have I made that I still don’t know about, or how many more are in store? A testament to the significance of perpetual trading education….DOWNLOAD FREE OPTION REPORT
Would you like to contact Josh or any of our brokers for more feedback? We are happy to help!
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Are you using Sierra charts and looking to implement their Teton order routing?

If so, look no further, Cannon can assist you in getting set up!
Good Trading

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

03-07-2022

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Weekly Levels

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

https://mrci.com

Date Reports/Expiration Notice Dates

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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 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

NFP Tomorrow, Futures Support and Resistance Trading Levels 3.04.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

NFP Tomorrow!

From Econoday.Com:
Definition
The most closely watched of all economic indicators, the employment situation is a set of monthly labor market indicators based on two separate reports: the establishment survey which tracks 650,000 worksites and offers the nonfarm payroll and average hourly earnings headlines and the household survey which interviews 60,000 households and generates the unemployment rate.
Nonfarm payrolls track the number of part-time and full-time employees in both business and government. Average hourly earnings track employee pay while the average workweek, also part of the establishment survey, tracks the number of hours worked. The report’s private payroll measure excludes government workers.
Consensus Outlook
A 390,000 rise is Econoday’s consensus for nonfarm payroll growth in February which in January, at 467,000, far surpassed the high estimate. February consensus range is 197,000 to 625,000. Average hourly earnings, which in January also far surpassed expectations at a monthly 0.7 percent gain for an annual 5.7 percent rate, are expected to show continued pressure, at 0.5 and 5.8 percent respectively.
KEY margin increases to note:
Sierra + Teton Available through Cannon Trading along with other data feeds such as CQG and Rithmic.
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-04-2022

 

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Improve Your Trading Skills

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


Economic Reports, Source: 

http://BetterTrader.Co

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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.

Ukraine & Commodities, Futures Trading Levels 3.03.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

Russia, Ukraine & Commodities

By Mark O’Brien, Senior Broker
In a recent blog post, it was noted, “We’re just one month into this calendar year with more developments ahead – geopolitically, weather-related and monetary policy related – all set to cause commodity prices across a range of asset classes to exhibit potentially rugged price action. Keep an eye out.” Now two months into this calendar year, it appears that statement was subdued.
Many of the market moves stem from the escalating war activities in Ukraine, which will remain a dominant force in determining prices of several commodities. Russia and Ukraine account for nearly 20% of global corn exports and 25% of wheat. May corn traded to new contract highs overnight (747¾, basis May). May wheat traded up its 75-cent limit today to the highest level since March of 2008. Russia is responsible for up to 40% of the palladium supply to the world, a commodity not typically among any trader’s top-ten to keep an eye on. It’s seen a ±$300/oz. move up since Friday’s close and is poised to close at daily contract highs. Prices in crude oil surged again today, trading intermittently to life-of-contract highs above $112/barrel. These and other markets – think metals, other energy products, stock index futures – will continue to exhibit outsize moves. And while fears of physical supply disruptions, a ratcheting up of inflation expectations and other forces have sellers moving to the sidelines across numerous commodities, these traders are not gone. Take care.
Sierra + Teton Available through Cannon Trading along with other data feeds such as CQG and Rithmic.
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-03-2022

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Improve Your Trading Skills

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


Economic Reports, Source: 

http://BetterTrader.Co

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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.

Wheat Limit UP, Futures Trading Levels 3.02.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

More on LIMIT Moves: Wheat

By John Thorpe, Senior Broker
Futures contract limit moves during extreme volatility….. rules are different for each commodity that does have a hard daily price limit. not all futures contracts have daily price limits. Here is a discussion from the CME of Daily Price limits Product Examples for Daily Price (Trading) Limits – Electronic Platform Information Console – Confluence (cmegroup.com) a current list of markets where limits are enabled is here Price Limits: Ags, Energy, Metals, Equity Index (cmegroup.com) the reason we draw your attention to this is the current state of the Wheat market with the first 2 months in the Chicago Soft contracts and of the KC Hard red winter contracts. Limit markets are also known as Limit Bid or limit offer markets where there are Bidders or offerors “jumping into the Pool” clamoring to get long or short.. we refer to the excessive bids or offers as “the Pool” when exterior pressures create the perception of shortage of a commodity, as is the case for wheat this week, markets make limit moves. near today’s close I took this snapshot of the number of unfulfilled bids in the pool is seen in the bid size column :
E-Futures Platform, Wheat Futures
the rules for extending limits are here in this link from the CME Grain, Oilseed, and Lumber Price Limit FAQ – CME Group
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The Wheat market will re-open tonight @ 8:00 PM EST if the exchange moves to a .75 cent limit the dollar value of a limit move is $3750.00 per contract.
Would you like to contact John or any of our brokers for more feedback? We are happy to help!
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-02-2022

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Improve Your Trading Skills

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


Economic Reports, Source: 

http://BetterTrader.Co

1b47f1cc 9061 4865 9de2 7ee7d2e695d7

 

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.

Cross Currents to Fuel Volatility Higher & Support and Resistance Levels 3.01.2022

Posted on by Ilan
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Cross Currents to Fuel Volatility Even Higher

By John Thorpe, Senior Broker
It’s clear the market has been reacting to the minute by minute changes from the international communities responses to the Russian Invasion into another sovereign country. These currents have been pushing markets violently the past week and are expected to continue to do so for days and weeks to come. However , we can’t lose sight of 3 very important domestic issues that could have far reaching global impacts as well. Here in the U.S. , on Tuesday night President Joe Biden is scheduled to give his first “State of the Union” address to the American citizens and world. Without a doubt, the futures markets will be reacting during our evening session Tuesday night March 1st 9:00 P.M. EST. Wednesday Morning 10:00 A.M. ending Thursday afternoon, Fed Chair Jerome Powell presents his report⁠—called the Monetary Policy Report⁠—that is submitted semiannually to the Senate Committee on Banking, Housing, and Urban
Affairs and to the House Committee on Financial Services, along with
testimony from the Federal Reserve Board Chair., this will be the first time Fed Chair will be answering questions directly related to the Russia/Ukraine conflict since the conflict began.
On Friday Morning at 8;30 a.m. EST the most watched labor department number is released: Nonfarm Payrolls (NFP) also known as the Employment situation report. Here are this months expectations from Econoday.com
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Be vigilant while trading all futures markets and expect the unexpected. if you would like a demo, a live screen share or just a conversation with an experienced industry professional, please call Cannon Trading at 800 454 95723, if we can’t help, we will find someone who can.
Would you like to contact John or any of our brokers for more feedback? We are happy to help!
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

03-01-2022

Support and Resistance Levels 3.01.2022

Improve Your Trading Skills

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


Economic Reports, Source: 

http://BetterTrader.Co

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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.

Dow & NASDAQ Futures to Show Pre-Open on Stocks

Posted on by Jenny Collins

Dow NASDAQ Futures

NASDAQ Futures Marketwatch, Investing in futures & CME

When looking at the Dow, NASDAQ, and S&P futures, there are similarities and differences between stock ETF’s and these Futures. Depending on how much leverage you would like to employ, the Futures numbers are below. If you are looking at the futures prices and had questions about the valuations, we have included a quick key below:

Dow futures symbol YM, Stock ETF Equivalent symbol DIA

Nasdaq Futures symbol NQ, Stock ETF Equivalent symbol QQQ

S&P Futures symbol ES,  Stock ETF Equivalent symbol SPY

Notional Value Calculations for Dow NASDAQ S&P Futures

Both Mini and Micro E-Mini (1/10th size of the E-Mini)

Mini Dow futures price X $5 = Notional Value

Micro Emini Dow (MYM) futures price X .50 = Notional Value

Mini Nasdaq 100 futures price X $20.00 = Notional value

Micro E-Mini Nasdaq (MNQ) 100 futures price x $2.00 = Notional value

Mini S&P futures price X $50.00 = Notional Value

Micro E-Mini S&P (MES) Futures price X 5.00 = Notional value

 

If Dow @ 32000 Notional Value of YM = $160,000.00    Margin to hold $ 8800.00

E-Micro    32000 Notional value of MYM = $16,000.00   Margin to hold $ 880.00

If Nasdaq @ 13500.00 Notional Value of NQ = $270,000.00 Margin to hold $16,500.00

E-Micro    13500.00 Notional value of MNQ = $27,000.00 Margin to hold $ 1650.00

If S&P @ 4250.00 Notional value of ES = $212,500.00 Margin to hold $11,800.00

E-Micro   4250.00 Notional value of MES = $21,250.00 Margin to hold $1180.00

 

Dow Nasdaq S&P futures also offer options, Weekly Options for E-Mini S&P 500 Futures | Cannon Trading.

You can download one of our trading platforms with live data and the options board here

E-Futures International | Futures Trading Platform & Broker Demo Account (cannontrading.com).

We will be happy to screen share with you and answer any questions you may have about futures related inquiries.

Author: John Thorpe, Senior Broker at Cannon Trading Company

Important: Trading commodity futures and options involves a substantial risk of loss. Therefore, recommendations contained in this letter are of opinion only and do not guarantee any profits. There is not an actual account trading these recommendations and past performances are not necessarily indicative of future results.

Weekly Newsletter #1087 Why Many Future Traders Lose? & Support and Resistance Levels for the Week Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1087

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!

Trading 201: Why do most futures traders lose money and how can you improve your odds?

Watch the 45-minute recorded webinar where Ilan shared some of his observations of why a large percentage of traders lose money trading futures.
*Reasons why most traders lose
*Looking at tools you can utilize and improve your odds
*Review different methods/concepts of trading
*Ilan shares many tidbits that can help variety of traders
*Ilan answers questions
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Are you using Sierra charts and looking to implement their Teton order routing?

If so, look no further, Cannon can assist you in getting set up!
Good Trading

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

02-28-2022

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Weekly Levels

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

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports

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 tradin

When in Doubt, Stay Out & Futures Support and Resistance Levels 2.25.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!

No Trade is Better than a Bad Trade….

Not to sound cliché but with the volatility we have seen today and the last few weeks….it seems that very few “enjoy” the extreme volatility and more are “suffering” with this extreme volatility.
The below are today’s ranges per one contract, for good and BAD:
Gold: $10,000.00
Soybeans $5000.00
Crude $9000.00 Silver $9000.00
NQ $19000.00
ES $9500.00
Euro $2500.00
When in doubt stay out.
On a practical note:
Start trading June bonds/10 years etc.
May is front month for silver, copper and GRAINS.
Would you like to contact any of our brokers for more feedback? We are happy to help!
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Are you using Sierra charts and looking to implement their Teton order routing?

If so, look no further, Cannon can assist you in getting set up!

Contact us for a demo and/ or more information here!

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

02-25-2022

Futures Support and Resistance Levels 2.25.2022

Improve Your Trading Skills

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


Economic Reports, Source: 

 ForexFactory.com

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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.

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.