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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Weekly Newsletter 1101: Trading Crude Oil Volatility & Trading Levels for the Week Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1101

Dear Traders,

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Get Real Time updates and market alerts on Twitter!

Rollover Notice for U.S. Stock Index and Currency Futures

Crude Oil Futures Volatility Offers A “Different Market Personality” Than Stock Index Futures. Here Is Some Of The Things You Need To Know About Day Trading Crude Oil Futures:

By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.
Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.
Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.
One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time..
Would you like to contact Ilan 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!
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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

06-13-2022

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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

Rollover Notice + Futures Trading Levels for 6.10.2022

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

Large sell off today in stock index futures.

Tomorrow we have CPI which is a market moving event.
Also read below regarding rollover notice.

Rollover Notice for U.S. Stock Index and Currency Futures

Heads up traders! We’re approaching important dates on the trading calendar.
Rollover is here for stock indices. i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.
I personally start trading SEPTEMBER this Monday when the volume on September is higher than the June.
  Volume in the June contracts will begin to drop off until their expiration next Friday, June 17th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any June futures contracts through 8:30 A.M., Central Time on Friday, June 17th, they will be offset with the cash settlement price, as set by the exchange.
 Monday, June 13th is Last Trading Day for June currency futures. It is of the utmost importance for currency traders to exit all June futures contracts by Friday, June 10 and to start trading the September futures. Currency futures are DELIVERABLE contracts. By holding any June futures contracts through the close of Last Trading Day, you will be subject to delivering (short positions) or taking delivery of (long positions) the full notional value of the futures contract. So, unless you’re sitting on 12,500,000 Japanese Yen to give to the exchange, exit that short position.
The month code for September is ‘U.’  Please consider carefully how you place orders when changing over.

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

06-10-2022

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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.

Rollover Notice + Futures Trading Levels for 6.09.2022

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

Rollover Notice for U.S. Stock Index and Currency Futures

By Mark O’Brien
Heads up traders! We’re approaching important dates on the trading calendar.
Tomorrow, Thursday, June 9, is roll-over day for stock index futures contracts, i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.  Starting tomorrow, the September futures contracts will be the front month contracts.  Volume in the June contracts will begin to drop off until their expiration next Friday, June 17th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any June futures contracts through 8:30 A.M., Central Time on Friday, June 17th, they will be offset with the cash settlement price, as set by the exchange.
 Monday, June 13th is Last Trading Day for June currency futures. It is of the utmost importance for currency traders to exit all June futures contracts by Friday, June 10 and to start trading the September futures. Currency futures are DELIVERABLE contracts. By holding any June futures contracts through the close of Last Trading Day, you will be subject to delivering (short positions) or taking delivery of (long positions) the full notional value of the futures contract. So, unless you’re sitting on 12,500,000 Japanese Yen to give to the exchange, exit that short position.
The month code for September is ‘U.’  Please consider carefully how you place orders when changing over.

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

06-09-2022

 

Support and Resistance levels 6.09.2022

 

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.

Hot Season for the Grain Markets + Support and Resistance Levels 6.08.2022

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

Hot Season for the Grain Markets!

By John Thorpe
This time of year the Grain markets will be more susceptible to large price swings as a result of USDA reports most notably three and one other piece of information to round out the four things we need to pay attention to.
  •  Export Inspections released at 10:00am Central every Monday.   they look like this and can be found here
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
                 REPORTED IN WEEK ENDING JUN 02, 2022
                           — METRIC TONS —
————————————————————————-
                                                  CURRENT    PREVIOUS
             ———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
 GRAIN     06/02/2022 05/26/2022 06/03/2021   TO DATE    TO DATE
BARLEY             0         73          0           0           0
CORN       1,434,683  1,411,734  1,426,845  43,733,073  52,608,324
FLAXSEED           0          0          0           0           0
MIXED              0          0          0           0           0
OATS               0          0          0           0           0
RYE                0          0          0           0           0
SORGHUM      207,953    144,690     65,550   6,328,772   6,271,629
SOYBEANS     350,416    403,617    239,384  49,852,901  56,907,092
SUNFLOWER          0          0          0       2,260         240
WHEAT        352,779    344,907    531,921     225,845     194,485
Total      2,345,831  2,305,021  2,263,700 100,142,851 115,981,770
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA.
And look like this Notice the large proportion of very poor to fair with harvest weeks away in many of these states
https://www.cannontrading.com/tools/futures-market/grains/Wheat-Futures
  • USDA Supply/Demand and WASDE released once a month, this week it will be Friday morning at 11:00 Central  you can find them here https://www.usda.gov/oce/commodity/wasde  and they look like this.

 

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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

06-08-2022

Futures Support and Resistance Levels 6.08.2022

 

 

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.

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

34277178 282d 4394 acdc dca4da1783a1

 

 

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

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.