The 2024 World Cup Trading Championships® are just around the corner.
You are invited to enter the ultimate trading challenge, where some of the world’s best Futures and Forex traders compete.
The World Cup Trading Championships have been held since 1983 and are the most prestigious trading competitions in the industry. The winners of each division will prove that they are the best of the best.
The top profitable Entrants will be eligible to receive a magnificent pewter Bull and Bear trophy or a beautiful crystal Bull and Bear Trophy.
Real-money competitions based on net returns – no entry fee required.
Take on traders from across the globe to compete for coveted Bull & Bear trophies, glory, and new career opportunities.
Contact us at 1-310-859-9572 or Visit Us on the Web
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.
A six-month decline followed by a two-month rally of almost equal price movement. On April 4, Feb gold traded to its all time high of $2,140.30 per ounce. Almost six months to the day, on Oct. 6, the benchmark precious metal had declined ±$300 per ounce (a ±$30,000 move) to $1,842.50. Then, within almost an exact two-month span, on the Sunday Dec. 4th opening of trading, Feb. gold capped a ±$300 per ounce rally, trading briefly up to a new all-time high of $2,152.50. Today, gold prices fell to a more than one-month low, trading intra-day to $2,004.60 per ounce. Credit strong economic data that strengthened dollar and Treasury yields and lowered market expectations of a U.S. rate cut in March. The Commerce Department reported a more-than-expected rise in U.S. retail sales for December. This followed the strong gains in employment and wage gains reported earlier this month and an uptick in inflation last week.
The U.S. Consumer Price Index last week did not persuasively indicate under-control inflation,
but with energy and grain prices remaining significantly below last year’s highs, the prevailing
direction of inflation points down with economic conditions improving.
Heads up: Both Natural Gas and Crude Oil numbers come out tomorrow due to MLK holiday this past Monday and the short trading week.
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.
The 2024 World Cup Trading Championships® are just around the corner.
You are invited to enter the ultimate trading challenge, where some of the world’s best Futures and Forex traders compete.
The World Cup Trading Championships have been held since 1983 and are the most prestigious trading competitions in the industry. The winners of each division will prove that they are the best of the best.
The top profitable Entrants will be eligible to receive a magnificent pewter Bull and Bear trophy or a beautiful crystal Bull and Bear Trophy.
Real-money competitions based on net returns – no entry fee required.
Take on traders from across the globe to compete for coveted Bull & Bear trophies, glory, and new career opportunities.
Contact us at 1-310-859-9572 or Visit Us on the Web
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.
The 2024 World Cup Trading Championships® are just around the corner.
You are invited to enter the ultimate trading challenge, where some of the world’s best Futures and Forex traders compete.
The World Cup Trading Championships have been held since 1983 and are the most prestigious trading competitions in the industry. The winners of each division will prove that they are the best of the best.
The top profitable Entrants will be eligible to receive a magnificent pewter Bull and Bear trophy or a beautiful crystal Bull and Bear Trophy.
Real-money competitions based on net returns – no entry fee required.
Take on traders from across the globe to compete for coveted Bull & Bear trophies, glory, and new career opportunities.
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.
February natural gas accelerated off its December low to complete its third upside PriceCount objective before settling back with a corrective trade. Now, the chart is threatening to resume its rally where new sustained highs would project a possible run to the low percentage fourth upside count to the 4.44 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.
Broker’s Trading System of the Week
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.
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.
Bitcoin futures open interest on the Chicago Mercantile Exchange hit a fresh all-time high this week. Its nominal value reached $5.4 billion as the Jan. futures contract traded within 200 points of $48,000 on Tuesday. The previous all-time high of $4.5 billion was recorded in November 2021 when the front month contract traded to its all-time high above $68,000.
News in the cryptosphere hit a milestone today with the announcement that Bitcoin ETF’s began trading on U.S. exchanges, but should you?
Before you jump on the Bitcoin ETF bandwagon, remember that the world’s largest futures and options exchange – the CME Group – offers you a choice for managing cryptocurrency risk with Bitcoin and Micro Bitcoin futures and options. With efficient price discovery in transparent futures markets, prices based on the regulated CME CF Bitcoin Reference Rate (BRR) and easily traded on your supported trading platform.
A Cannon broker will be able to assist, provide feedback and answer any questions.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
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.
Bitcoin futures open interest on the Chicago Mercantile Exchange hit a fresh all-time high, its nominal value reaching $5.4 billion as the Jan. contract traded within 200 points of $48,000 yesterday. The previous all-time high of $4.5 billion was recorded in November 2021 when the front month contract traded to its all-time high above $68,000.
Energy:
Concerns of slowing demand growth in the energy sector received additional fodder this morning when the Energy Information Agency (EIA) reported a surprise jump in U.S. crude stockpiles and a larger-than-expected jump in storage of both gasoline and distillates. Crude oil (basis Feb.) remains mired in the low $70 per barrel range with a few forays below $70 per barrel over the last month. Despite fears the Israel-Hamas war – now into its third month – could be a catalyst to supply disruption in the Middle East, crude oil is more that $10 per barrel (a $10,000 per contract move) lower since the beginning of the conflict, suggesting traders are more focused on global economic growth (slowing) than geopolitical risk, which seems to be increasing as events related to the war have spread, including attacks on U.S. bases in Iraq, U.S. strikes on Iranian-backed organizations in Syria and Yemen, Israeli attacks in Lebanon on Hezbollah, Yemeni-based Houthi attacks on vessels moving through the Bab al-Mandab Strait at the entrance to the Red Sea from the Gulf of Aden – a route that sees 10-12% of the world’s seagoing freight travel through it.
General:
Tomorrow we’ll be apprised yet again of the inflation situation here in the U.S. with the release of the Bureau of Labor Statistics’ Consumer Price Index Report, which measures the prices paid by consumers for a basket of consumer goods and services (7:30 A.M., Central Time). The reading plays an important role in shaping the Federal Reserve’s outlook on much-anticipated interest rate cuts this year.
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.
The 2024 World Cup Trading Championships® are just around the corner.
You are invited to enter the ultimate trading challenge, where some of the world’s best Futures and Forex traders compete.
The World Cup Trading Championships have been held since 1983 and are the most prestigious trading competitions in the industry. The winners of each division will prove that they are the best of the best.
The top profitable Entrants will be eligible to receive a magnificent pewter Bull and Bear trophy or a beautiful crystal Bull and Bear Trophy.
Real-money competitions based on net returns – no entry fee required.
Take on traders from across the globe to compete for coveted Bull & Bear trophies, glory, and new career opportunities.
Contact us at 1-310-859-9572 or Visit Us on the Web
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.
A week of uncovering and discovering the reality rather than the hypothesis of market moving data events.
Sell the rumor and Buy the Fact? Or is it Buy the Rumor and sell the fact?
If you know what the market has been discounting, both statements can be true.
Trillions in Market Cap from Q4 report earnings this week
Mainly banks, perhaps the market had already corrected anticipating the earnings?
How will these stocks affect the current 2 month stock rally?
How will CPI affect the overall trend with this week’s release early Thursday ?
According to Fact set:
“The Financials sector will be a focus for the market during the next two weeks, as more than 70% of the S&P 500 companies that are scheduled to report earnings for the fourth quarter over this period are part of this sector. Companies in this sector expected to report earnings during these two weeks include Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo. The Financials sector is predicted to report the fourth-highest (year-over-year) earnings decline of all 11 sectors for Q4 at -3.1%”
For our Grain and Meat traders, THE PIVOTAL Crop Production report is going to be released this Friday @11 am CST.
The seasoned analysts believe this is the biggest report of the year as 2023 came to an end and could make for the grandest market moves as well.
Make it a fantastic trading year!
Plan your trade and trade your plan
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
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.
What to look for in the last two trading days of the 1st trading week of 2024:
By Mark O’Brien, Senior Broker
General:
Welcome to 2024 and best wishes in all your ventures for this year, including your trading, of course. No matter what markets you’re following and trading, keep an eye out for those forces that move them for directional signals. And in this inter-connected world there are some big-picture forces to watch as they develop in the coming months.
Inflation: Although many futures markets react to national inflation readings, global, regional and other state inflation readings will also move the markets. Think Europe and China as important areas where inflation fluctuations can influence futures prices.
China: All by itself – its overall economic health, its GDP, its demand for the very commodities traded on U.S. futures exchanges – is a major point of reference for commodities prices.
U.S. monetary policy: plainly tied in part to inflation, our Central Bank is on the verge of entering a new phase in their unceasing mandate to control inflation and foster employment. Financial markets are entering this year confident that rate cuts are in store beginning sometime this year – and other advanced economies will be striving and acting similarly as they see fit.
The U.S. dollar: our currency is forecast to depreciate as U.S. real economic growth and inflation slows. Added to the pull, the country’s debt to GDP ratio as reflected in our current account deficit has become unsustainably high. Futures traders should be aware of the general inverse relationship between the value of the dollar and commodities prices. Prices of commodities tend to drop when the dollar strengthens against other major currencies. When the dollar weakens, prices of commodities generally move higher.
A busy U.S. electoral calendar: Get ready for the Iowa Caucus (Jan. 15) and New Hampshire primary (Jan. 23). They kick off our nation’s election cycle to November 5th when we elect our 47th president among other important state and federal office holders and with tensions already high among the major parties along with differences in economic policies, look for the futures markets to also trade with this tension in the air.
A busy international electoral calendar: South of our border, Mexico will hold a presidential vote in June. Taiwan, seemingly a pawn in U.S. – China relations, but an economic force to be reckoned with, holds its presidential election on Jan. 13. India, now the world’s most populous nation and a rapidly developing manufacturing powerhouse also goes to the polls in April and May. While no surprises are in store with both countries’ leaders expected to remain in power, Russia and Ukraine hold elections in March. Everything from energy to grains have been impacted by the war between the two.
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.
Only 3 days of trading left in the first trading week of 2024.
These 3 days are PACKED with reports and I suspect much different trading behavior than we saw the last trading week of 2023.
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.
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.
