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Iran – Israel Conflict, July Class III Milk, Day Trading Futures Pt. 2; Your 3 Need-To-Knows for Trading Futures the Week of June 23rd, 2025

Posted on June 20, 2025 by Cannon Operations

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Cannon Futures Weekly Letter

In Today’s Issue #1247

The Week Ahead – Israel – Iran, End of Quarter 2, Powell Testimony
Futures 102 – Podcast – Day Trade Futures?
Hot Market of the Week – July Milk
Broker’s Trading System of the Week – Mini Dow Jones Swing Trading System
Trading Levels for Next Week
Trading Reports for Next Week

Important Notices: The Week Ahead

By John Thorpe, Senior Broker

Iran – Israel Conflict

iran

Treachery in the Middle East, 2-day Fed Chair Powell congressional testimony (historically more volatility on day 1), Heavy Fed Speakers and the end of Quarter # 2, 2025.

Remember that current market drivers for Equities are hard data on Jobs, Inflation, Trump tweets and Geopolitics, clearly the Isreal/Iran conflict jumps to the top of the list here.

Continued volatility to come as next week all markets will be reacting to whatever comes out of the Israel/Iran conflict, The FRB, U.S. Govt leadership relating to conflicts cessation and trade deals.

Earnings Next Week:

Mon. KB Home
Tue. Fedex, Carnival
Wed. Micron, General Mills
Thu. Nike, Walgreens
Fri. Oracle

FED SPEECHES: (all time CDT)

Mon. Waller 2:00am (from the Central Banking conference in Prague), Bowman 9:00 am, Goolsbee 12:10 pm, Kugler 1:30 pm
Tues. Hammack 8:15 am, Chair Powell Congressional Testimony 9:00 am (House), Williams 11:30 am, Collins 1:05 pm, Barr 3:00 pm
Wed. Chair Powell Congressional Testimony (Senate) 9:00 am
Thu. Barkin 7:00am, Hammack 8:00am, Barr 12:15pm
Fri. Williams 6:30 am, Cook and Hammack 8:15 am

Economic Data week:

Mon. SP composite PMI, Existing Home sales
Tue. RedBook, Case-Schiller Home data, CB Consumer Confidence, Richmand Fed,
Wed. Building Permits, EIA Crude oil stocks, New Home Sales
Thur. Chicago Fed Index, Core PCE, Durable Goods, GDP Growth Final, Retail Inventories, Pending Home Sales, EIA NAT GAS Storage,
Fri. Core PCE, Mich. Consumer Sentiment,

Ask a Broker: What is Day Trading Futures, Part 2?

Watch Video Now

Ask a Broker: Why Trade Bitcoin Futures?

Hot Market of the Week

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.

Free Trial Available

July Class III Milk

July class III milk continues to slide and has negated the remaining unmet upside PriceCount near 23 cents (not shown for presentation purposes) with the trade below the late April reactionary low. At this point, the chart would need to violate the contract low before it could take aim at the third downside count to the 16.89 area.

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.

Brokers Trading System of the Week

Position Trading Cont v.3_ E-mini Dow Jones YM

Markets Traded: YM – Mini Dow Jones

System Type: Swing Trading

Risk per Trade: varies

Trading Rules: Partially Disclosed

Suggested Capital: $25,000

Developer Fee per contract: $140.00 Monthly Subscription

Get Started

Learn More

Disclaimer: The risk of trading can be substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance is not necessarily indicative of future results.

IMPORTANT RISK DISCLOSURE

Futures trading is complex and carries the risk of substantial losses. It is not suitable for all investors. The ability to withstand losses and to adhere to a particular trading program in spite of trading losses are material points which can adversely affect investor returns.

The returns for trading systems listed throughout this website are hypothetical in that they represent 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 backadjusted data (backadjusted).

Please read carefully the CFTC required disclaimer regarding hypothetical results below. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.

NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING.

FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.

THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

Please read full disclaimer HERE.

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Trading Levels for Next Week

Daily Levels for June 23rd, 2025

Would you like to receive daily support & resistance levels?

Yes

No

Trading Reports for Next Week

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

www.mrci.com

Find us on Trustpilot

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.

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Day Trading Margins, June Milk Class III, CME Trading Challenges; Your 3 Important Need-To-Knows for Trading Futures on May 21st, 2025

Posted on May 20, 2025 by Cannon Operations

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Margins

SPAN and Day Trade Margins

by John Thorpe, Senior Broker

margins

Dive into Margin creation

Day trade margins are back to “normal” day trade valuations.

Remember Trump highlighted the need to pass and extend his 2017 tax cuts which are set to expire at years end if a new bill wasn’t passed to extend those tax credits.

Well, we are on the doorstep of that request. Watch for equity index strength if it passes in the house this week and weakness if it doesn’t. Memorial Day weekend was his target to have the legislation passed.

A quiet data day tomorrow.

On a different note, I hear a lot about from my day traders want to understand more clearly how margin is set and when can we expect reduced day trade margins.

Here’s the short version: Margins are set by the exchange based on a number of factors then the clearing houses adjust day trading parameters based on the exchange Initial margin. Volatility is the biggest factor to affect exchange minimum initial margin.

Here’s the long story from the CME:

https://www.cmegroup.com/solutions/risk-management/performance-bonds-margins/span-methodology-overview.html

Market volatility is here to stay for the foreseeable future with it’s ebbs and flows.

Choose your opportunities wisely. Today’s market swings were largely back to normal ( pre tariff talk normal)

Tomorrow:

Econ Data: EIA Energy stocks.

FED Speak: One speaker Barkin @ 11am CT

Earnings: TJ Max, Lowe’s, Medtronic, Target

Tariff news: Anything goes!

SPAN Methodology Overview

CME SPAN is a market simulation-based Value at Risk system that allows you to assess risk on a portfolio basis. Explanations and examples of risk arrays and SPAN analysis are included.

June Milk

June class III milk satisfied its second upside PriceCount objective and is correcting. At this point, IF the chart can resume its rally into new sustained highs the third count would project a potential run to the 20.55 area.

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.

Daily Levels for May 21st, 2025

Want to feature our updated trading levels on your website? Simply paste a small code, and they’ll update automatically every day! Click here for quick and easy instructions.

Economic Reports

provided by: ForexFactory.com

All times are Eastern Time (New York)

Find us on Trustpilot

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.

Call Now

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

Day Trading Margins, June Mexican Peso; 7 Key Insights for Smarter Futures Trading Amid Strong Market Swings

Posted on April 30, 2025 by Cannon Operations

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Day Trading Margins; June Mexican Peso

day trading margins

Day Trading Margins

In recent weeks on various days, market volatility and the commensurate risks of trading have soared. Daily price ranges for assets like the major stock index futures (S&P 500, Nasdaq 100, Dow Jones, Russell 2000), gold, crude oil, the U.S. Dollar Index & foreign currency futures have awed market participants.

For example, June gold futures closed on nine days this month with a >$100 per ounce price range, a $10,000 per contract move between its daily high and low trades. Even less-reported markets like cattle, cocoa and coffee have made major daily price moves, often in multiday streaks.

As a result, the major exchanges where these market trade, i.e., CME Group and ICE, have increased the day trading margin requirements for many of the futures contracts exhibiting these outsize moves. As well, clearing firms have followed with increases in the margins required to trade these futures contracts intraday. These are their day trading margins.

It is obviously important for traders to know the risks involved in trading and that includes knowing the day trading margin requirements for the futures contracts you’re trading. The exchanges’ margin requirements are applied to all futures contracts uniformly for trades held overnight or longer.

On the other hand, day trading margins can differ among clearing firms. Also, some days clearing firms will set day trading margins differently at different times of the day. For example, day trading margins may be set higher during the nighttime hours of the day and reduce them during daytime hours.

Moreover, clearing firms determine day trading margins in different ways. Some set a “flat rate” for day trading margins, others calculate it as a percentage of the exchanges’ margin requirements.

Before you enter any futures position, plan your trade, including check know the margin requirement and day trading margin requirement of the futures you’re about to trade. Definitely get in touch with your Cannon broker for any assistance with these.

Day Trading Margins

June Mexican Peso

The June Mexican Peso completed its first upside PriceCount objective and has turned sideways in a consolidation trade. From here, if the chart can sustain further strength into new highs, the second count would project a possible run to the 52.47 area.

Learn more at www.qtchartoftheday.com

Daily Levels for May 1st, 2025

Want to feature our updated trading levels on your website? Simply paste a small code, and they’ll update automatically every day!

Click here for quick and easy instructions.

Economic Reports

provided by: ForexFactory.com

All times are Eastern Time (New York)

Find us on Trustpilot

Call Now

Join our Private Facebook group

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

Market Prep: Last Trading Day of February, March Bitcoin, PCE Report & Key Trading Checklist

Posted on February 27, 2025February 27, 2025 by Jenny Collins

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Different Markets for Day Trading, March Bitcoin

bitcoin

March Bitcoin:

Tomorrow is the last trading day for February. Last and first trading days of the months can at times be more volatile and at times have a chance to become a trending day.

Also tomorrow is PCE ( Personal Consumption Expenditures, an inflation indicator watched closely by the market).

Last but not least if you are trading bonds and ten years, time to trade the June contract.

Day Trading

Trader’s Check List:

· Review prior day statement

· Check for any working orders on your platforms.

· Be aware of contract rollover dates

· Set a daily loss limit and learn NOT to overtrade

· Understand what reports are coming out today

· Make sure you are not distracted

· Calculate appropriate trading size based on current volatility and account size

· Start with Larger Time Frame charts to get proper perspective

· Understand what your goal is

· Measure your success or lack of

· Spend time furthering your trading education and exploring different methods

· Put trading in perspective and make sure the overall psychology of trading fits you.

March Bitcoin

The rally in March bitcoin ran out of momentum, leaving behind an interim top in December. Now, on the correction lower, the chart has activated downside PriceCount objectives. The first count has been completed. IF you can sustain further weakness, the second count would project a possible slide to the 76,000 area..

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Daily Levels for February 28th, 2025

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Economic Reports

provided by: ForexFactory.com

All times are Eastern Time (New York)

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Find us on Trustpilot

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Join our Private Facebook group

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Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

Treasury Bonds & Notes make Bold Moves!

Posted on February 24, 2025February 24, 2025 by Jenny Collins

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Treasury Bonds, Notes

Treasury Bonds & Notes – Different market, different trading environments

Each market has different personality, different behavior along with different times of the day when it is most active. If you are finding that the ES (mini SP) is not giving you enough risk/opportunities, then start monitoring a couple of other markets and perhaps explore them in demo / simulated mode.

There are more than a few markets I think are suitable for day-trading. Below you will find some observations, tips along with what is unique about these markets, personality and most active trading hours.

Interest rates, mostly the ten year and 30-year.

In most platforms, the symbols are ZB for 30-year bonds and ZN for 10-year notes.

Product Symbol

Treasury Bonds

Contract Size

The unit of trading shall be U.S. Treasury Bonds having a face value at maturity of one hundred thousand dollars ($100,000) or multiples thereof

Price Quotation

Points ($1,000) and 1/32 of a point. For example, 134-16 represents 134 16/32. Par is on the basis of 100 points.

Product Symbol

Underlying Unit

One U.S. Treasury note having a face value at maturity of $100,000 < Treasury Bond.

Price Quote

Points ($1,000) and halves of 1/32 of a point. For example, 126-16 represents 126 16/32 and 126-165 represents 126 16.5/32. Par is on the basis of 100 points.

Tick Size

(minimum fluctuation)

One-half of one thirty-second (1/32) of one point ($15.625, rounded up to the nearest cent per contract), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract).

Contract Months

The first five consecutive contracts in the March, June, September, and December quarterly cycle.

These contracts are often affected by many of the economic reports that come out at 8:30 Am Eastern and there is very active volume between the hours of 8 am EST and 3 PM EST

Volume on both contracts is very good. Ten years will often have 1 million contracts traded per day (might be the second most active US futures market after the mini SP 500) and the bonds will avg. around 1,300,000 contracts.

These markets can experience very volatile movements during and right after different reports but then will often trade smooth or in an intraday trend the rest of the day.

Another advantage for these markets is that the exchange fees per trade are LOWER than the ones on the stock index futures.

May Sugar Chart for your review below!

May sugar is completing its second upside PriceCount objective to the 19.96 area. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade. At this point, if the chart can sustain further strength, the third count would project a possible run to the 21.57 area which is consistent with a challenge of the fall highs.

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Daily Levels for February 25th, 2025

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Economic Reports

provided by: ForexFactory.com

All times are Eastern Time (New York)

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Find us on Trustpilot

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Soybean Future Trading Daily Chart & Futures Support and Resistance Levels 1.27.2021

Posted on January 26, 2021February 3, 2021 by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!

_________________________________________________

Dear Traders,

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The difference between yesterday and today is one of the strongest contrasts I have seen!

The market went from driving at 180 MPH, erratically…to driving 25 MPH, obeying all the speed bumps.

Was it news headlines yesterday? Lack of news today? Did market participants get tired? Are you prepared for future trading?

Normally volatility will go in waves and now from 100% to 10% in one day.

If one could only forecast volatility, would make ones trading life much easier.

Speaking of volatility, FOMC tomorrow along with Crude Oil numbers before that and a few more reports.

Know what news are coming, which ones affect the markets you trade.

While I touch base quite often on ES, NQ and other stock indices, I also like to follow other markets. Some are better for shorter term trading some are better for swing or longer term etc. future

trading predictions really depends on how they are performing. One of these markets, soybeans futures. Daily chart below. Click for larger Image.

Good Future Trading

Trading Futures, Options on Future Trading, 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

1-27-2021

Economic Reports, source:

www.BetterTrader.co

BetterTrader Reports 1.27.2021 / Future 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.

Big Moves in Metals Sector & Futures Support and Resistance Levels 1.12.2021

Posted on January 11, 2021 by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!

_________________________________________________

Dear Traders,

Like us on FaceBook!

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Big Moves in the metals sector the last few days, including the “favorite child” – Dr. Copper….

Previous sell signals in the shape of red diamonds only generated very small downward moves if any, compare to the same exact signal to the buy side = mechanics of a bull trend. The big question today is will we see more follow through on this sell signa?

Daily chart below, Click for Larger Image.