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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Where and how do I exit a trade? & Futures Trading Levels 6.07.2022

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

Exiting a Trade might be more important than the entries….

Futures and futures options trading is a challenging activity. More so for those traders who look to trading as an occupation. So much thinking, contemplating, planning goes into trading – related to the markets you’re trading, the strategies that get implemented, the possible risk/reward outcomes. For someone new to trading, seeing the sum total of all the parts may be a lot to take in. Veteran traders will tell you the full picture keeps changing and can be daunting often.
When trading goes well, the trader’s energy and overall outlook is powerful, optimistic and energizing for other aspects of life. When trading goes unsuccessfully, most traders feel the pain in many ways outside of the obvious financial consequences.
Whether you’re a day trader, a position trader, a spread trader, or an option trader, some of the mental challenges and the questions to go with them are constant:
  • Where, When and how do I enter a trade?
  • How do I define risk and implement any type of risk control, like placing stop orders, or implementing some sort of option protection?
  • Where and how do I exit a trade, both in the event of a profitable trade and an unsuccessful one?

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

06-07-2022

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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: 

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.

Weekly Newsletter 1100: Futures Spreads 101 + Trading Levels for the Week Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1100

Dear Traders,

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

Enhance Your Trading, Futures Spreads 101

By John Thorpe, Senior Broker
Futures spreads are a way to get involved in trending markets at a lower margin cost and often times can give the trader staying power to last weeks if not months. If you were thinking about entering the Crude market, or the Grain markets but were psyched out by the volatility of an outright long or short futures position. Futures Time Spreads or Calendar spreads where the trader goes long one month and simultaneously goes short another month of the same commodity is a way to engage your margin dollars in a trend.
We use the futures contract symbol, in the case of Soybeans ZS then FTS for futures Time Spread ZS FTS +N22,-Z22 if you look at the chart the symbol is highlighted upper left and the current price is 1.78 or $1.78 cents. that is the differential between the two contracts most recent prices today
Some advantages of using a spread are:
Soybean Futures Time Spread
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

06-06-2022

Futures Support and Resistance Levels 6.06.2022

Weekly Levels

Weekly Support & Resistance Levels 6.06-6.10.2022

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

https://mrci.com

Date Reports/Expiration Notice Dates
MRCI Report 6.03-6.13.2022

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

Unemployment + ISM = VOLATILITY? & Support and Resistance Levels 6.03.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!
Full day tomorrow!
Starting early with NFP report ( Non Farm Payrolls) which is a market mover and you can read more about here.
ISM to follow as well as Fed member Brainard speaking.
Stocks finished sharply higher ahead of the employment report as well as energies and metals.
Expect a volatile day.

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

06-03-2022

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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: 

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.

About Non Farm Payrolls +Futures Trading Levels for 6.02.2022

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

NFP -Non Farm Payrolls this Friday

By Mark O’Brien
Coming up: the first Friday of the month. If you’re a futures trader and your markets of choice to trade include stock indexes, treasuries (30-yr. / Ultra T-bonds, 2-, 5, 10-yr. T-notes), currencies, even metals and energies, you know the importance of this day. It’s when the Labor Dept. releases its monthly Non-farm payrolls report. It’s widely considered to be one of the most important and influential measures of the U.S. economy. To convey its findings, the Labor Dept.’s Bureau of Labor Statistics surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual work sites. The report excludes farm workers private household employees, domestic household workers and non-profit organization employees. The report also includes other detailed industry data including the overall unemployment rate – as a percentage of the total labor force that is unemployed but actively seeking work – wages, wage growth and average workday hours. The report is released at 7:30 A.M., Central Time.

Coffee to break higher?

See daily chart below.
Coffee Futures Daily Chart

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

06-02-2022

Futures Support and Resistance Levels 6.02.2022

 

 

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.

First Notice Days & Futures Trading Levels 6.01.2022

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

First Notice Days

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. If you have any questions please contact the Trade Desk or your broker. 
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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 when it comes to Futures Trading.

Futures Trading Levels

06-01-2022

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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: 

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.

Weekly Newsletter 1099: Introduction to Equity Index Products – FREE Online Trading Course + Trading Levels for the Week Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1099

Dear Traders,

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

Enhance Your Trading, FREE COURSE: Introduction to Equity Index Futures Products

Course Overview If you were asked to picture trading the U.S. stock market, what comes to mind? You may think of trading shares of companies like Apple, ExxonMobil or Disney. But what if there was another way to express your views and gain broad-based exposure to U.S. equities – without trading each individual stock? One alternative is equity index futures and options. With a single transaction, investors can use these index-based contracts to manage risk or seek profits based on whether they think the stock market will rise or fall. Learn the basics of these contracts, including what they are, how they’re built and how many ways you can use them.
This comprehensive course will cover the following topics:
  • What’s an Index Future?
  • The Importance of Depth (Volume)
  • Hedging and Risk Management
  • Trading Opportunities in Equity Index Futures
  • Equity Intermarket Spreads
  • And More…..
CME Globex Memorial Day Holiday Schedule 2022
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

05-31-2022

Futures Support & Resistance Levels 5.27.2022

Weekly Levels

Weekly Support & Resistance Levels

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

https://mrci.com

Date Reports/Expiration Notice Dates
MRCI Reports 5.26 - 6.03.2022

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

Memorial Day Trading Schedule & Futures Support & Resistance Levels 5.27.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!
This Monday we will observe Memorial Day.
Most markets will have modified/shorter trading sessions.
Please make sure you are aware of the modified trading hours by visiting our post.
Have a safe and enjoyable Memorial Day!
CME Globex Memorial Day Holiday Weekend

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

05-27-2022

Support & Resistance Levels 5.26.2022

 

 

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.

Natural Gas New Highs & Futures Support and Resistance Levels 5.26.2022

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

The State of Affairs in Energy Futures

by Mark O’Brien, Senior Broker
In recent weeks, we’ve seen declines in global equity markets as well as in consumer and investor sentiment. We’re on the leading edge of a near 8-month rise in inflation to 40-yr. highs – rising at an equal 40-year record pace.
At the same time, some of the latest global inflation data has been inconclusive. Short-term inflation momentum which measures a three-month annualized rate as opposed to the pace of price increases in one month compared with the same month a year earlier (think CPI) have started to soften. The Commerce Department’s monthly personal-consumption expenditures report has shown consumers are shifting to a more-normal balance of spending on goods and services compared to the demand surge earlier in the Covid-19 pandemic.
Regardless of how conditions play out in the coming weeks and months, don’t count on energy prices falling off any time soon. Nationally and globally, even if we experience an economic decline and energy demand subsides, the aftereffects will be slight. Both the supply and demand sides of the equation will account for stubbornly high prices both at the pump and in natural gas. Strategic stockpiles are in need of replenishing, the expanding ban on Russian imports is only beginning to impact prices, structural adjustments to realign energy supply chains to accommodate for the war will take months or longer and seasonal summer demand is on the horizon.
EVEN BETTTER…reach out to a Cannon Trading broker.
Good Trading!
Natural Gas Monthly Chart

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

05-25-2022

Futures Support and Resistance Levels 5.26.2022

 

 

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.

Memorial Day 2022 Holiday Schedule for CME / Globex and ICE Exchange

Posted on by Ilan

Memorial Day 2022 Holiday Schedule for CME / Globex and ICE Exchange

Memorial Day 2022

 

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® Memorial Day 2022 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

ICE Futures Memorial Day 2022 Holiday Schedule for CME / Globex and ICE Exchange

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

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.

How will the markets react to New Data? & Support and Resistance Levels 5.23.2022

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

The market’s Hypersensitivity to new data and the week in store

By John Thorpe
This is a busy week for tea leaf releases on the US economy,  we won’t see CPI nor will be get the grand Unemployment numbers that come out the first Friday of every month.
Both of those numbers rank as the two most equity and Bond market impactful reports released by the US. Right behind those numbers however will be stirring their equity index drink this week,
Tomorrow, May 24th
8:45 am CT PMI Flash ( what will be the acceleration or deceleration of private sector output for May? )
9:00 CT New Home Sales ( are raising interest rates impacting new sales? If so , to what degree?)
11:20 CT  Fed Chair Jerome Powell speaks at NCAIED 2022 Reservation Economic Summit..( I’ll remind everyone , no matter the venue, when the Fed Chair speaks the market is listening)
Wednesday
7:30 Durable Goods orders!
9:30 EIA petroleum numbers.. (crude can sway the indices.. how are the energy related stocks responding)
Thursday
7:30 CT GDP  (this is the second estimate of the 1st quarter level of US economic activity)
And Jobless claims ! this will be a very busy start to the day…
Be aware of these release times and your positions during these times, adjust your size appropriately to heightened risk.. also look for intraday trend shifts following these impactful numbers,
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

05-24-2022

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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: 

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.