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.
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.
Trading Resource of the Week – Trading 101 Video: Where are my Targets?
Hot Market of the Week – July Oats
Broker’s Trading System of the Week – NEW Crude Oil Trading System
Trading Levels for Next Week
Trading Reports for Next Week
Important Notices – Juneteenth Holiday Hours
Monday, June 19, 2023 US bank will be closed in observance of Juneteenth. There will be no money transactions Wires, ACH, Internal transfer and or currency conversion.
Watch the video below to get an idea on how to use Fibonacci extensions along with candle sticks to project possible price targets.
Try a FREE demo of the platform used to show the charts in this educational article. The platform is FREE and has charts, news, DOM, T&S, Alerts, advanced order entry, options and MUCH MORE!
A Cannon broker will be able to assist, provide feedback and answer any questions.
Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
July Oats finally stabilized their slide last month and then activated upside PriceCount objectives on the correction higher. Chart is satisfied its first count to $3.81 where it would be normal to get a near-term reaction in a form of consolidation or corrective trade. If you can sustain for the strength from here, the second count would project the possible run to the $4.10 area
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
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.
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.
Start trading September currencies and stock indices.
Tomorrow June index futures will expire into cash at 8:30 AM Central time.
Monday, June 19, 2023 US bank will be closed in observance of Juneteenth. There will be no money transactions Wires, ACH, Internal transfer and or currency conversion.
Volume in the June contracts will begin to drop off until their expiration next Friday, June 16th (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 16th, they will be offset with the cash settlement price, as set by the exchange.
The month code for September is ‘U.’ Please consider carefully how you place orders when changing over.
Watch the video below on how to rollover your market depth and charts!
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.
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.
It’s a big week for financial markets and their related futures contracts with interest rate decisions from three major central banks coming one after another: the U.S. Federal Reserve (which just decided not to raise rates for the first time in eleven months), the European Central Bank and the Central Bank of Japan.
The Bank of Canada hiked rates last Wednesday to a 22-year high of 4.75%, having held rates steady since January. The day prior, Australia’s central bank raised rates by a quarter point to an 11-year high and warned of further tightening ahead.
One of the take-aways from last week’s surprise rate increases in Canada and Australia and today’s first-time respite by the Fed.: don’t take anything for granted.
Economies around the world are experiencing disparate inflation trajectories compared to others – including the U.S. – and their central bank’s efforts to getting inflation down have started to deviate somewhat. Financial and other futures markets, ever reacting to uncertainty – often overreacting – may become even more challenging arenas within which to trade.
This is pretty clear set-up to submit again the usefulness of trading options – either in combination with your futures trading or exclusive of it. Trading options offers a near limitless range of risk/reward scenarios to take on, from that on par with straight futures trading to substantially less to absolutely limited. And because options are valued in part by their ever-decaying lifespans, they offer another component to a trade’s outcome: time value.
If you think options aren’t for you, consider one sector’s growth in this area in the last recent years: equity index options. Options in the E-mini S&P 500 and E-mini Nasdaq continue to see strong growth in participation and volume as market participants are increasingly turning to the them as part of their trading – and talk to your broker at Cannon Trading Co. for more information.
See below the ADV ( avg. daily volume) for NQ and ES
Volume in the June contracts will begin to drop off until their expiration next Friday, June 16th (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 16th, they will be offset with the cash settlement price, as set by the exchange.
The month code for September is ‘U.’ Please consider carefully how you place orders when changing over.
Watch the video below on how to rollover your market depth and charts!
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.
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.
Stock index price volatility is anticipated to pick up this week with the release of several key U.S. Government reports tied to inflation. It begins early Tuesday morning and continues through Thursday.
Before we get into the details , volatility typically = additional risk.
Some traders welcome the additional price movements as it may play into their collective strategic hands, while many other traders not only create a strategy that is based on smaller more well defined price movements but, rely on reduced volatility to trade successfully.
It is an urgent matter to understand what kind of trader you are, what type of system and indicators you employ and plan your trade around these reports as you see fit.
In anticipation of the release of these numbers, some clearing firms will be increasing the day trade margin rates during this time. Please contact your broker for any questions as it relates specifically to your clearing firm and and account so you have plenty of time and capital resources to plan for these changes. Many times these short term increases in margin rates are for a matter of minutes. be prepared.
As for the details, : Tuesday 7:30 a..m. CDT May CPI Consumer Price Index here is the consensus from Econoday.com
and Finally @ 1:00 P.M. CDT the Fed meeting concludes and the decision on the target range for fed funds will be released, followed by a 1:30 P.M. J, Powell News Conference with a Q & A session.
Thursday, Jobless claims, Retail sales and Industrial production close out the meaningful reports for the week as Friday should be a balancing day prior to the weekend and after the June ES expiration! Strap your seat belts on!
Understanding expectations will allow you to trade with more confidence when there is a sudden change in policy directives!
Volume in the June contracts will begin to drop off until their expiration next Friday, June 16th (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 16th, they will be offset with the cash settlement price, as set by the exchange.
The month code for September is ‘U.’ Please consider carefully how you place orders when changing over.
Watch the video below on how to rollover your market depth and charts!
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.
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.
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 16th (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 16th, they will be offset with the cash settlement price, as set by the exchange.
Monday, June 19th 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 16th and to start trading the September futures. Currency futures are DELIVERABLE contracts.
The month code for September is ‘U.’ Please consider carefully how you place orders when changing over.
Trading Resource of the Week –
Trading Pattern: Rising Wedge also known as Ascending Triangle
By Joe Easton, Senior Broker
Formation:
This pattern is defined as price narrowing from a wider range to a smaller range while making higher highs and higher lows.
This pattern is a bearish reversal signal suggesting a possible minor retracement or potential trend change.
Typically new highs are seen on lower volume.
Try a FREE demo of the platform used to show the charts in this educational article. The platform is FREE and has charts, news, DOM, T&S, Alerts, advanced order entry, options and MUCH MORE!
As provided in the examples above the range is narrowing toward the top of the wedge, while still making new highs. This causes a converging of trendlines to make the triangle pointing upward. Ideally this pattern breaks the lower trendline between 65-75% of completion. If the price action continues to the end of the triangle the breakout becomes less likely. Ascending triangles can also be continuation signals in a downtrend, although they have a lower probability.
How to Trade:
The ideal entry is toward the top trendline near the 60% level, this gives you a better position inside the triangle. If entered on this line your stop should be above the upper trendline.
The more conservative entry would be when the lower trendline is broken. This can happen very quickly and needs to be timed more accurately. Using the lower trendline entry the stop is placed above the lower trendline before re-entering the wedge. If the price trades back into the wedge after breaking, the pattern has less likely chance of success. Ideally when the lower trendline is broken price accelerates quickly lower.
When price breaks out you can measure the triangle at the widest section and project price to reach that same distance from the lower trendline.
Summary:
Ascending Triangles can be strong trading patterns provided the formation remains in tact. Unlike many other patterns when an ugly formation can actually be beneficial, this pattern is much more precise. Any closes above the upper trendline or below the lower trendline should continue in that direction. The price action needs to remain inside the trendlines and breakout before the end to maximize the chance of success.
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this chart are of opinion only and do not guarantee any profits.
Past performances are not necessarily indicative of future results
Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
July unleaded gasoline satisfied its first upside PriceCount Objective and appears to be entering a corrective trade, which is a normal reaction. From here, if chart can sustain further upside it would have to contend with the April highs before it can reach the second count to 2.80 .
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
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.
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.
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.
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.
In this webinar, we’ll tour the platform and take a look at how to utilize Order Flow, Delta Filer bars and other innovative features while observing a variety of futures markets with a focus on some of the smaller Micro futures contracts.
Our host, Antonio Sartorello of Volumetrica will guide attendees as the markets trade in real time. Learn more about VolSys’s core features
• Order Flow and it’s pullback bar
• How to use Advances T&S
• How to use Advanced DOM
• Delta Filter Bars to identify Strength/weakness
• Where are the big traders/ orders?
Attendees will receive a FULLY functionable demo with live data!!
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
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.
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.
There will be few government reports released this week that will have much of an impact on equity prices.
This past Saturday we have entered the FOMC Blackout period which will last through the next FOMC Rate decision on Wednesday, June 14th and conclude at midnight on June 15th.
Since there is no significant data, we are certain Fed Policy makers will have been able to breathe a bit easier after the debt limit breach was averted.
Next week is going to be considerably different. Why? the Consumer Price Index will be released a day prior to the FED rate decision and may have an 11th hour impact on the policy makers decision to raise or stay firm at current short term fed fund rate. According to the CME’s FedWatch tool, the prospect for rate changes has been anything but sanguine. May 5th there was only an 8.5% chance of another .25 increase and as recently as a week ago there was an over 60% chance and as of todays date the tool is projecting less that a 22% increase by .25 to the .0525-.0550 area. . .
As I said about CPI at the moment the market is pricing in no change but a CPI figure reversing the slow downtrend in current price levels could immediately change the expectations for no change this go round.
Understanding expectations will allow you to trade with more confidence when there is a sudden change in policy directives!
In this webinar, we’ll tour the platform and take a look at how to utilize Order Flow, Delta Filer bars and other innovative features while observing a variety of futures markets with a focus on some of the smaller Micro futures contracts.
Our host, Antonio Sartorello of Volumetrica will guide attendees as the markets trade in real time. Learn more about VolSys’s core features
• Order Flow and it’s pullback bar
• How to use Advances T&S
• How to use Advanced DOM
• Delta Filter Bars to identify Strength/weakness
• Where are the big traders/ orders?
Attendees will receive a FULLY functionable demo with live data!!
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
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.
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 have the opportunity to practice trading highly liquid Precious Metals products while competing against other traders for the chance to win the grand prize of a 1 oz. bar of gold*.
During the challenge, you’ll explore our suite of precious metals contracts and test-drive strategies in a simulated environment. We’ll send you exclusive, daily education materials on precious metals contracts in order for you to feel prepared to trade and confidently compete against your peers.
In this webinar, we’ll tour the platform and take a look at how to utilize Order Flow, Delta Filer bars and other innovative features while observing a variety of futures markets with a focus on some of the smaller Micro futures contracts.
Our host, Antonio Sartorello of Volumetrica will guide attendees as the markets trade in real time. Learn more about VolSys’s core features
• Order Flow and it’s pullback bar
• How to use Advances T&S
• How to use Advanced DOM
• Delta Filter Bars to identify Strength/weakness
• Where are the big traders/ orders?
Attendees will receive a FULLY functionable demo with live data!!
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
Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
The June dollar Index satisfied its second upside PriceCount objective and is correcting. At this point, if the chart can resume its rally with new sustained highs, the third count would project a run to the 106.50 area although the March highs would represent a significant near term resistance level to contend with.
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
Hundreds of “Hands Free” Automated Systems to Choose from!
Are you too busy to trade? Perhaps you’re not confident enough and you’re trading. Maybe you’re looking to the diversify your own trading with algorithmic trading or what we call automated trading. Browse over 500 trading systems. Review back test results, live results, drawdowns, returns and much more!!
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
Trading Levels for Next Week
Daily Levels for June 5th, 2022
Would you like to receive daily support & resistance levels?
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
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.
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.
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.
