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Weekly Market Update PLUS: First Notice/Last Trading Days, CannonEdge, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on February 3rd, 2026

Posted on February 2, 2026 by Cannon Operations

Weekly Outlook Ahead!

By Gal Levy, Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — April (#GC)	4868.80	4926.60	4959.00	5016.80	5049.20
Silver (SI) — Mar. (#SI)	93.95	98.46	100.73	105.23	107.50
Crude Oil (CL) — Mar. (#CL)	58.93	60.09	60.67	61.83	62.41
Mar. Bonds (ZB) — Mar. (#ZB)	114 22/32	115 2/32	115 11/32	115 23/32	116

Overnight moves in metals, crude oil, natural gas and other markets were quite extreme!

weekly market

We suspect that with the Iran situation, govt. shutdown, metals volatility – we will see more of that the rest of the week.

Risk management becomes just as important if not more than the actual directional bias of the market.

Weekly Market update:

Trump picks Kevin Warsh to lead the US Federal Reserve. The Warsh nomination triggered a jump in the dollar. Warsh was appointed by President George W. Bush as Fed governor from 2006-2011 and is considered a Wall Street veteran due to his time at Morgan Stanley.

Last year Warsh warned that U.S. fiscal policy was on a “dangerous trajectory” due to “irresponsible spending” and called for “regime change” at the Federal Reserve. Analysts have characterized Warsh as a practical pick who is less dovish than some of the other candidates, though he may be in favor of some near-term cuts.

Stock Indices

We had a volatile week, with a heavy flow of earnings. Both indices SPX & NASDAQ rallied for the first half of the week, then gave it all back during the back half of the week. The Cboe Volatility index (VIX) ramped up and nearly hit 20 on an intraday basis yesterday, following a post-earnings tech-fueled sell-off.

My takeaway from this week volatility and the fact that metals such as Gold and Silver were hit hard leads me to believe were at Risk Off mode until proven otherwise. I may be wrong as I always say there are two sides to a coin. Will see how all this develops, in the meantime traders will enjoy the volatility and these price swings as long as they use proper risk management. I will be looking at –

Earnings and economic reports.
Geopolitical issues
When will the market test the new FED chairman

S&P 500 companies reported earnings this week, and the results continued to convey a healthy economy. Out of the 165 S&P 500 companies that have reported results, 60% have beat on the top line while 79% have beat on the bottom line. Revenue growth has been +7.43% year-over-year while earnings-per-share (EPS) growth is tracking at 15.31%, though we are only one-third of the way through the earnings season. For reference, FactSet is currently forecasting 8.2% EPS growth in Q4 for the entire S&P 500.

Federal Reserve conducted one of its two-day Federal Open Market Committee (FOMC) meetings this week, though it really didn’t contain any surprises. As expected, rates were left unchanged, and Chairman Jerome Powell conveyed that monetary policy remains near an appropriate level given the firm economy. Of course, their view is subject to change based on future data.

Trading in silver options surpassed NASDAQ options this week. On Friday Silver fell over 31% and Gold 11%. Crashes usually happen due to margin calls and forced selling. The 50 Day moving average is sitting at $74 and the 200 day moving average is sitting at $48.46. Platinum and palladium also ended the day down double digits on the day.

Kith Lerner downgraded Gold on Thursday stating reason was Gold traded 40% above its 200 day moving average that’s the most extended since the 80’s. Silver was up 60% for the month, and was more than 140% above its 200 day moving average. Silver broke out from $55.

Bitcoin is trading around 78 thousand.

READ THE REST ALONG WITH CHARTS AND MORE HERE

Day trading margins vary among clearing firms / FCM’s. If needed, contact your Cannon Trading Co. broker for specifics.

Name	Exchange	Class	Exchange Symbol	CQG Symbol	Size
nano XRP	Coinbase	Crypto	XRP	XRP	500 XRP
XRP	Coinbase	Crypto	XRL	XRL	10,000 XRP
nano XRP Perp-Style	Coinbase	Crypto	XPP	XPP	500 XRP
nano Solana	Coinbase	Crypto	SOL	SOL	5 Solana
nano Solana Perp-Style	Coinbase	Crypto	SLP	SLP	5 Solana
Solana	Coinbase	Crypto	SLC	SLC	100 Solana
nano Ether Perp-Style	Coinbase	Crypto	ETP	ETP	0.1 Ethereum
Ether	Coinbase	Crypto	ETI	ETI	10 Ethereum
nano Ether	Coinbase	Crypto	ET	NET	0.1 Ethereum
nano Bitcoin	Coinbase	Crypto	BIT	BIT	0.01 Bitcoin
nano Bitcoin Perp-Style	Coinbase	Crypto	BIP	BIP	0.01 Bitcoin

Introducing Cannon Edge — Your Daily Futures Snapshot

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQQ.

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.

Daily Levels for February 3rd, 2026

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 Central Time ( Chicago)

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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NFP out amidst the possibility of government shutdown PLUS: New Crypto and Gold Contracts, March Wheat, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures the Week of February 2nd, 2026

Posted on January 30, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1276

The Week Ahead – NFP, Iran, Govt. Shutdown?
Futures 101 – XRP, Solana, 1 ounce Gold & More are Now Available on CannonX
Cannon Edge – Your Futures trading Map for the week ahead!
Hot Market of the Week – March Wheat
Broker’s Trading System of the Week – SP500 Swing Trading System
Trading Levels for Next Week
Trading Reports for Next Week

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — April (#GC)	4868.80	4926.60	4959.00	5016.80	5049.20
Silver (SI) — Mar. (#SI)	93.95	98.46	100.73	105.23	107.50
Crude Oil (CL) — Mar. (#CL)	58.93	60.09	60.67	61.83	62.41
Mar. Bonds (ZB) — Mar. (#ZB)	114 22/32	115 2/32	115 11/32	115 23/32	116

Important Notices: The Week Ahead

By John Thorpe, Senior Broker

The Week Ahead: NFP amidst a possible government shutdown

We may come in Monday with a government shutdown for the second time in 4 months. Probabilities increased for a stalemate as of this writing, Friday noon eastern after the funding deals stall in the Senate per U.S. News.

It certainly looks like we’ll be seeing quite a bit of action in the markets next week shutdown or not. We have quite a few economic data points in addition to Non-Farm Payrolls (NFP) out the first Friday of every month.

Fed Speakers are back as well. Re: the Fed, of note, in a surprise move, the market was expecting President Trump to appoint as the next Fed Chair a Dove to the seat, President Trump appointed Kevin Warsh, a Stanford Economist considered to be a hawk on inflation. (precious metals sell-off?). 7318 earnings reports.

We’ll see you next week! Please enjoy a safe and memorable weekend.

Earnings Next Week:

· Mon. Palantir, Disney, Mitsui, NXP Semiconductors

· Tue. AMD, Merck, NovoNordisk, Pepsi, Amgen, Pfizer

· Wed. Alphabet, Ili Lilly, Novartis, Shell, Uber, Qualcomm, CME Group

· Thu. Amazon, Unilever, Conoco Phillips, KKR, ICE Exchange,

· Fri. Exxon Mobil, Chevron, AMEX, Verizon, Charter Communications

FED SPEECHES: (all times CST)

· Mon. Bostic 11:25 am

· Tues. Barkin 7:00 am

· Wed. Cook 4:30 PM

· Thu. Bostic 9:50 am

· Fri. Jefferson 11:00 am

Econ Data: (all times CST)

· Mon. ISM Mfg., Treasury Refunding Estimates

· Tue. Redbook YoY, JOLTS,

· Wed. ADP emp. Change, Treasury Refunding Announcement, ISM Svcs. PMI, EIA Crude stocks.

· Thu. Jobless claims, Nat Gas Stocks,

· Fri. NFP, Mich. Consumer Sentiment, Baker Hughes Rig count

Review below some Crypto contracts and new gold contracts!

Name	Exchange	Class	Exchange Symbol	CannonX Symbol	Liquidity
1-oz. Gold	CME	1 Troy Ounce	1OZ	M1OZ	Very liquid: 10’s of thousands of contracts per day
10-oz. Gold	CME	10 Troy Ounces	MGC	MGC	Extremely liquid: 100’s of thousands of contracts per day
XRP	CME	50,000 XRP	XRP	GXRP	Illiquid: less than 1000 contracts per day
Micro XRP	CME	2,500 XRP	MXP	GMXP	Moderately liquid: 1,000-5,000 contracts per day
XRP	CoinBase	10,000 XRP	XRP	XRL	Looks extremely liquid: CoinBase XRP Price Page
Solana	CME	500 SOL	SOL	SLC	Moderately liquid: 1,000-5,000 contracts per day: CME Solana Vol. & Open Int.
Micro Solana	CME	25 SOL	MSL		Moderately liquid: 1,000-5,000 contracts per day: CME Micro Solana Vol. & Open Int.

Introducing Cannon Edge — Your Daily Futures Snapshot

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQQ.

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

March Wheat

The recovery rally in March Wheat is approaching the first upside PriceCount objective to the $5.47 area. It would be normal to get a reaction from this level in the form of a consolidation or corrective trade. IF the chart can sustain further upside, the second count would project a potential run to the $5.63 area.

Brokers Trading System of the Week

Abacus Upside ES Trading System

Market Sector: indices

Markets Traded: ES- Mini SP500

System Type: Swing Trading

Risk per Trade: varies

System Description: An ES swing trading system currently traded by the developer who has 15+ years’ experience. All stock indexes trend upwards over the long term but with some significant daily declines and occasional longer bear markets. The system seeks to take advantage of this bias by actively entering on those days when the upside probability is increased whilst filtering out as many downward movements as possible.

The system logic has historically been very effective in achieving this outcome in both normal rising markets and by catching the frequent upward “bounce” days in more volatile periods. It trades long only and relatively frequently but generally only holds positions for 1-2 days. For greater diversity and smoother returns trade this system with: (1) Abacus Raider NQ; and/or (2) Abacus Momentum.

Broker’s Suggested Capital: $28,000

Developer Fee per contract: $175.00 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.

System Trades Disclosure:

System Description

“System Description” is based upon information obtained from specific system marketing documents, system developers and/or system vendors themselves. While the information is believed to be reliable, we cannot guarantee its completeness or accuracy.

Actual Monthly Performance

The table and charts represent the monthly/quarterly/annual summation of actual trades based on system-specified contract(s) executed through Striker Securities, Inc. using the referenced trading system or system vendor for the stated time period. Commissions and monthly vendor fees are deducted from the tabulation. Results are based on 1 contract. If a client trades 2 contracts his gain or loss is twice as displayed (and so on). This table is presented for information purposes only and is not a solicitation for the referenced system or vendor.

The purpose of this information is for clients to compare their brokerage statements to what is displayed on Striker’s site. Striker as a matter of policy has no ownership with the referenced system or vendor or any other trading system or vendor.

Past trade history may not be indicative of future results. The results indicated here may or may not be typical of the performance of this system and, ALTHOUGH WE BELIEVE THIS INFORMATION TO BE ACCURATE, CANNON TRADING COMPANY MAKES NO ENDORSEMENT OF THIS OR ANY SYSTEM NOR WARRANTS ITS PERFORMANCE.

This is not the only trading system that Striker executes for its clients. Potential traders should carefully investigate, evaluate and compare trading systems before investing capital. Some or all trading systems may involve an inappropriate level of risk for potential traders. It is the nature of commodity trading that where there is the opportunity for profit, there is also the risk of loss.

In opening an account through CANNON TRADING COMPANY, Customer acknowledges and agrees that he/she will rely solely upon the information that CANNON TRADING COMPANYprovides to you. Thus, all prior third-party materials provided are superseded by the information and disclosures provided by CANNON TRADING COMPANY.

Important Information About this Trading System Analysis

Statistics, tables, charts and other information on trading system monthly performance are based on actual trading unless otherwise specified. Actual dollar and percentage gains/losses experienced by investors would depend on many factors not accounted for in these statistics, including, but not limited to, starting account balances, market behavior, developer fees, incidence of split fills and other variations in order execution, and the duration and extent of individual investor participation in the specified system.

While the information and statistics given are believed to be complete and accurate we cannot guarantee their completeness or accuracy as they results are key punched and subject to human error. Performance information is not the performance of a single account, but a compilation of several accounts over time, and is based on the physical trading ticket.

THIS INFORMATION IS PROVIDED FOR EDUCATIONAL/ INFORMATIONAL PURPOSES ONLY AND USED BY CURRENT CLIENTS TO AUDIT THEIR STATEMENTS TO STRIKER SITE. These results are not indicative of, and have no bearing on, any individual results that may be attained by the trading system in the future.

This trading system, like any other, may involve an inappropriate level of risk for prospective investors. THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CAN BE SUBSTANTIAL AND MAY NOT BE SUITABLE FOR ALL INVESTORS. Prior to purchasing or leasing a trading system from this or any other system vendor or investing in a trading system with a registered commodity trading representative, investors need to carefully consider whether such trading is suitable for them in light of their own specific financial condition.

In some cases, futures accounts are subject to substantial charges for commission, management, incentive or advisory fees. It may be necessary for accounts subject to these charges to make substantial trading profits to avoid depletion or exhaustion of their assets. In addition, one should carefully study the accompanying prospectus, account forms, disclosure documents and/or risk disclosure statements required by the CFTC or NFA, which are provided directly by the system vendor and/or CTA’s.

The information contained in this report is provided with the objective of “standardizing” trading systems measurements, and it is intended for educational /informational purposes only. All information is offered with the understanding that an investor considering purchasing or leasing a system must carry out his/her own research and due diligence in deciding whether to purchase or lease any trading system noted within or without this report.

This report does not constitute a solicitation to purchase or invest in any trading system which may be mentioned herein. CANNON TRADING COMPANY AND STRIKER SECURITES, INC. MAKES NO ENDORSEMENT OF THIS OR ANY OTHER TRADING SYSTEM NOR WARRANTS ITS PERFORMANCE. THIS IS NOT A SOLICITATION TO PURCHASE OR SUBSCRIBE TO ANY TRADING SYSTEM.

Futures Trading Disclaimer:

Transactions in securities futures, commodity and index futures and options on futures carry a high degree of risk. The amount of initial margin is small relative to the value of the futures contract, meaning that transactions are heavily “leveraged”. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit: this may work against you as well as for you.

You may sustain a total loss of initial margin funds and any additional funds deposited with the clearing firm to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit.

Would you like to get weekly updates on real-time, results of systems mentioned above?

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Daily Levels for Feb. 2nd, 2026

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Trading Reports for Next Week

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

www.mrci.com

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Gold goes Volatile PLUS: Energies and Stock Indices, March Crude Oil, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on January 30th, 2026

Posted on January 29, 2026 by Cannon Operations

Higher Volatility in Metals, Energies and Stock Indices

By Ilan Levy-Mayer, VP

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — April (#GC)	4893.63	5162.07	5394.43	5662.87	5895.23
Silver (SI) — Mar. (#SI)	99.83	108.22	155.00	123.40	130.18
Crude Oil (CL) — Mar. (#CL)	61.86	63.63	65.06	66.83	68.26
Mar. Bonds (ZB) — Mar. (#ZB)	114 9/32	114 22/32	115	115 13/32	115 23/32

The metals markets delivered another jolt today, with silver swinging more than $75,000 per contract in just 90 minutes (see intraday chart below!) a reminder of how extreme volatility has become across the board.

Gold

gold

Gold followed with outsized ranges of its own, while equity index futures continue to show elevated intraday volatility as we approach month‑end and T‑1 settlement flows. Add in renewed geopolitical tension between Iran and the U.S., and energy markets are pricing in risk premiums that can shift in minutes, not hours.

Volatility

In an environment like this, opportunity is real—but so is the danger. Traders must prioritize the risk side of the equation, from position sizing to stop discipline to understanding how quickly leveraged products can move.

Day trading margins vary among clearing firms / FCM’s. If needed, contact your Cannon Trading Co. broker for specifics.

Introducing Cannon Edge — Your Daily Futures Snapshot

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQQ.

March Crude Oil

March crude oil is satisfying the second upside PriceCount objective. It would be normal to get a near term reaction around this level in the form of a consolidation or corrective trade. From here, IF the chart can sustain further gains the third count would project a possible run to the 67.88 area.

FREE TRIAL AVAILABLE

Learn more at www.qtchartoftheday.com

Daily Levels for January 30th, 2026

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 Central Time ( Chicago)

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Metals Reach New Highs and Higher Margins! PLUS: March Dollar Index, Levels, Reports; Your 4 Important Can’t-Miss Need-To-Knows for Trading Futures on January 29th, 2026

Posted on January 28, 2026 by Cannon Operations

Metals New Highs & New Higher Margins!

By Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — April (#GC)	5114.63	5267.17	5346.13	5498.67	5577.63
Silver (SI) — Mar. (#SI)	107.75	112.29	114.95	119.49	122.15
Crude Oil (CL) — Mar. (#CL)	61.53	62.45	62.98	63.90	64.43
Mar. Bonds (ZB) — Mar. (#ZB)	114 14/32	114 25/32	115 2/32	115 13/32	115 22/32

Metals:

Once again we give you the story of the year and this blog’s broken record update: gold and silver are trading at all-time highs today. As of this typing, Feb. gold is trading up nearly $300 per ounce (a $30,000 per contract move) and trading over $5,375 per ounce.

Silver

March silver is trading up nearly $11.00 per ounce (a $55,000 per contract move) and trading near $117.00 per ounce.

Platinum

April platinum is trading up nearly $150 per ounce (a $7,500 per contract move) and is trading near $2,680 per ounce. This is off its $2,925.00 intraday high of Monday.

Last night, CME Group raised margins yet again on a number of precious metals futures contracts. Below are the new margins for the main precious metals futures contracts.

Day trading margins vary among clearing firms / FCM’s. If needed, contact your Cannon Trading Co. broker for specifics.

Introducing Cannon Edge — Your Daily Futures Snapshot

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQQ.

March Dollar Index

The March Dollar broke down and accelerated with gap action to a second downside PriceCount objective. The count was consistent with a test of the contract low. The chart is now trying to react with a corrective trade. IF you can resume the break with new sustained lows, the third count would project a slide to the 94.15 area.

FREE TRIAL AVAILABLE

Learn more at www.qtchartoftheday.com

Daily Levels for January 29th, 2026

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 Central Time ( Chicago)

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Subscribe to our YouTube Channel

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CPI Delay Implications, March Wheat – Corn Spread, Levels, Reports; Your 4 Important Can’t-Miss Need-To-Knows for Trading Futures on December 18th, 2025

Posted on December 17, 2025 by Cannon Operations

What You Need to Know as We Head Towards the Close of trading Week!

by Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Feb(#GC)	4309.80	4341.80	4362.70	4394.70	4415.60
Silver (SI) — Mar. (#SI)	62.40	64.54	65.86	67.99	69.31
Crude Oil (CL) — Jan (#CL)	54.54	55.54	56.08	57.08	57.62
Mar. Bonds (ZB) — Mar (#ZB)	114 20/32	114 30/32	115 8/32	115 18/32	115 28/32

Important – CPI:

For stock index, metals and financials futures traders, keep an eye out for increased volatility around tomorrow’s release of the U.S. Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI). Day trading margins may be temporarily increased by your clearing firm. The report will be released at 7:30 A.M., Central Time.

The longest shutdown in history forced the BLS to cancel the release of October’s CPI report. It is unclear what components of the October CPI will be available when the report for November is published tomorrow. Government workers did not make visits to supermarkets and stores to get the information needed to calculate the CPI and other price measures for October.

The employment and CPI reports are crucial for Federal Reserve officials making decisions on monetary policy as well as for investors, businesses and ordinary Americans trying to gauge the economy’s health. The BLS has said data for the household survey and October’s CPI cannot be collected retroactively.

Energies:

Crude oil futures prices fell to levels not seen since the start of 2021 as a widely expected supply glut picked up momentum. Yesterday, Feb. West Texas Intermediate (WTI) crude fell over 3% and traded briefly below $55/barrel. WTI crude futures are headed for yearly losses of more than 20%.

Metals:

Silver futures surged to new all-time highs today, climbing more than 3% and extending monthly gains to 15%. The front month March contract traded up ~$3.25/ounce today – a ~$16.250 per contract move – to an intraday high of $67.18/ounce – more than double in price from January. Strong industrial demand and expectations for additional rate cuts next year boosted trader interest.

Feb. gold futures also surged ~$37/ounce higher today to near $4,370/ounce setting the stage for its second highest closing price, under its Oct. 20 all-time high closing at $4,394.60/ounce.

March Wheat – Corn Spread

The March Wheat – Corn Spread resumed its break into new lows. At this point, the chart is taking aim at its low percentage fourth downside PriceCount objective to the 48 area. This target is consistent with the longer-term weekly chart support level near 50.

Daily Levels for Dec. 18th, 2025

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Click here for quick and easy instructions.

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

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Call Now

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Subscribe to our YouTube Channel

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

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Short Trading Week, January Canola, Levels, Reports; Your 4 Important Need-To-Knows for Trading Futures on November 25th, 2025

Posted on November 24, 2025 by Cannon Operations

Short Trading Week Ahead Started with Powerful Moves Across the Board

by Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	4039.80	4103.90	4136.70	4200.80	4233.60
Silver (SI) — Dec (SIZ5)	49.43	50.63	51.24	52.44	53.05
Crude Oil (CL) — Dec (CLZ5)	56.84	57.91	58.48	59.55	60.12
Dec. Bonds (ZB) — Dec (ZBZ5)	116 29/32	117 10/32	117 17/32	117 30/32	118 5/32

General Trading:

Investors are heading into the shortened Thanksgiving trading week still debating the odds of an interest-rate cut. On Monday, Christopher Waller joined another influential policymaker, John Williams, in say he’s advocating an interest-rate cut in December. Investors put the chances of a rate cut at the Fed’s upcoming Dec. 9-10 policy meeting at about 75%, according to the CME FedWatch tool. Fed officials appear deeply divided over whether another reduction will be appropriate following cuts in September and October.

As we head toward the end of another calendar year, commodities futures prices across nearly every asset class have experienced periods of price volatility to extreme highs – like stock indexes, gold, silver, Bitcoin, coffee, cocoa, cattle – and lows – like grains, natural gas and sugar. Many of these included all-time high/low prices. For these to have occurred within a single year are the likes of which we’ve never scene. Don’t be surprised to see outsize volatility remain in the futures markets into 2026.

There’s a growing thinking that in geopolitics, we’re seeing a quickening trend toward deglobalization where global institutions are shifting away from each other and protectionist policies – like tariffs and the consolidation of supply chains – are accelerating. As well, the risk of a major geopolitical conflict is increasing. Commodity futures will continue to be the vehicle to trade that volatility – in all probability for many months to come.

Livestock:

Several front and deferred month Live Cattle and Feeder Cattle futures closed limit down on today following news over the weekend that Tyson Foods, the largest meat company in the U.S., will be closing a large beef processing plant in Nebraska and reducing production at a Texas plant.

Equity Indexes:

Stock index futures stuck to its risk-on rally on Friday with strong follow-through today to start the shortened Thanksgiving trading week. The Dec. E-mini Nasdaq was up over 2.5%, its biggest daily jump since May. The E-mini S&P 500 advanced more than 1.5% and the E-mini Dow Jones put on nearly 0.5%.

Cryptocurrency:

Dec. Bitcoin futures also rose as it looked to bust out of a month-long slump. It was last seen hovering above $89,000 after falling near $80,000 late last week.

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January Canola

January Canola satisfied its second upside PriceCount objective and corrected lower. At this point, IF the chart can resume its rally with new sustained highs, the third count would project a possible run to the 682 area.

Daily Levels for Nov. 25th, 2025

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Overnight Edge, December Mini Dow, Levels, Reports; Your 4 Important Need-To-Knows for Trading Futures on October 21st, 2025

Posted on October 20, 2025 by Cannon Operations

Where is the Edge?

edge

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	4173.40	4285.40	4341.70	4453.70	4510.00
Silver (SI) — Dec (SIZ5)	49.49	50.65	51.24	52.40	52.99
Crude Oil (CL) — Nov (CLX5)	55.32	56.16	56.79	57.63	58.26
Dow Jones (YM) — Dec 2025	46087	46503	46733	47149	47379

Over the past few months, and especially in recent weeks, we’ve seen unusually large overnight moves. Some moves appear random, others reverse quickly, and some are driven by headlines such as tariff news. These dynamics have increased gap risk, reduced overnight liquidity, and produced frequent open-time dislocations.

Common question

Where is the edge?

Short answer

Trade the first 30 minutes and focus on short-term gap-fill or rejection setups.
Use same-day options when you expect a large directional move to limit tail risk and avoid being stopped out only to see the market move in your favor.
Trade spreads when relative strength diverges across instruments (for example, gold vs silver or mini-Dow vs ES).

Extended answer

I want to focus on the practical elements of trading like pre-market context, move behavior, market news correlation, liquidity, options limits, and whether to use mean reversion or momentum. I’ll also want to highlight key parts like risk management, stop placement, and position sizing. Planning should be direct with a simple checklist and no more than six sections. I should also consider using a relevant citation about tariff-related movements, but just one, and make sure it’s only placed where necessary. No framing or extra explanations.

Futures day-trading edge

You find edge by matching a repeatable hypothesis to the current market regime, then executing it with strict risk and execution rules.

Regime diagnosis (what the market is doing now)

Volatility regime: large overnight gaps and erratic premarket prints mean the market is in a news-driven, headline-sensitive volatility regime.
Catalyst profile: moves are often tied to macro headlines and tariff noise; those headlines create directional gaps that either persist into the session or sharply reverse at the open.
Liquidity profile: overnight liquidity is thin and fragmented, increasing slippage and fake outs at the open.

Reliable, tradeable edges you can use

Pre-open directional bias with size filter. Trade opens when overnight gap exceeds a threshold (e.g., 0.5% or X ticks) and pre-market order flow confirms (sustained prints, not one-off sweep).
Use reduced size and wider stops for gaps caused by headline noise.
Fade headline gap into first 30 minutes when structure is weakIf gap lacks follow-through volume and price fails to make a clean microstructure breakout, favor mean reversion to the first-tail or VWAP.
Trend-follow breakouts in high conviction regimeWhen overnight move is accompanied by aligned macro flow (rates, FX, commodities) and volume ramps into the open, follow momentum with a continuation plan.
Volatility arbitrage playsUse options or calendar spreads where available to sell realized volatility after spikes and buy protection around known headline windows.
Session-timing edgeTrade smaller and tighter in the first 15–30 minutes after the open; increase size after the market establishes structure (first clean high/low and confirmation).
Microstructure edge: limit vs market tacticsUse passive limit entries near structural levels and aggressive exits into liquidity. Avoid market entries into thin pre-open auction prints.

Concrete execution rules (checklist)

Pre-market checklist: identify gap size, top 3 headlines, correlated markets (bonds, FX, oil), and pre-open volume trend.
Entry rules: require either structural confirmation (higher high / lower low) or a mean-reversion setup with defined edge-to-risk ratio ≥ 2:1.
Sizing: reduce notional by 25–50% on headline-driven nights; increase only after two clean consecutive edges are realized.
Stops and targets: place stop where edge invalidates (clearly definable price level); scale out at predefined targets; never trade without a stop.
Slippage buffer: add tick buffer to stops and profit targets during thin liquidity opens.

How to test and keep the edge

Backtest regime-specific rules: label historical sessions by overnight gap size and headline events, test mean-reversion vs momentum rules separately.
Forward-test with small capital: run a two-week rolling simulator and log slippage, win rate, and expectancy.
Adaptive rules: codify a volatility threshold that switches you between momentum and fade strategies automatically.

Brief trade plan template

Hypothesis: (e.g., “Overnight tariff headline caused a 0.7% gap that lacks confirmatory volume; first 20 minutes will mean-revert to VWAP.”)
Entry: limit at VWAP + X ticks or on 1-minute reversal candle.
Stop: invalidation beyond the overnight high/low + slippage buffer.
Target: partial at VWAP, final at first structure level.
Size: 50% normal when gap driver = headline; full size only when macro alignment confirmed.

Be systematic: diagnose regime, pick the strategy that historically wins in that regime, enforce execution and risk rules, and iterate from measured data.

Important: Trading commodity futures and options involves a substantial risk of loss.

The recommendations contained in this blog are of opinion only and do not guarantee any profits.

Past performances are not necessarily indicative of future results.

December Mini DOW

The December mini DJIA chart satisfied its second upside PriceCount objective earlier this month and corrected lower. At this point, IF the chart can resume its rally with new sustained highs, the third count would project a possible run to the 52041 area.

Daily Levels for Oct. 21st, 2025

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FOMC, Gold, Cocoa, Levels, Reports; Your 5 Important Need-To-Knows for Trading Futures on August 20th, 2025

Posted on August 19, 2025 by Cannon Operations

FOMC Minutes Tomorrow & Gold Bear Put Spread Insight

By John Thorpe, Senior Broker

Markets have been calm so far this week (FOMC Minutes tomorrow)

What goes up must come down?

Does Newtons law of Gravity capsulized by the quote” what goes up, must come down” apply metaphorically to prices on assets? this quote reminds us of the inherent predictability and order found in nature by earths gravitational pull.

The question becomes, what pulls asset prices down? and how does the investor protect or benefit from forces pulling prices down?

Since the forces pushing prices of assets lower are much harder to determine than a simple law like gravitational pull without doubt make what goes up must come down a truest statement, that doesn’t mean we can’t protect our investments or even benefit from selloffs of commodities, equities and other assets we hold.

Gold will be a good example to explain 2 common risk management strategies since this asset has been range bound for some time now, having become comfortable in a relatively narrow price range since Memorial Day after a runup to start the year.

One report indicates that gold opened at $2,633 per ounce on January 2, 2025, and as of August 15, 2025, it was trading around $3,383 per ounce, marking a 24.9% increase,

Protecting your long gold futures contracts, GLD ETF or your personal gold stash you can use futures options as an insurance policy to cover your downside risk.

You believe the price of gold is ready to fall on a breakout to the downside. You can buy Comex Gold Puts. How Gold Puts Work:

Buying a Put

You buy a gold put option when you expect gold prices to fall.
The put gains value as gold declines.
If gold drops below the strike price, you can:

Sell the put at a profit, or
Exercise it to take a short position in gold futures at the strike price.

Gold option premiums consist of intrinsic value and time value:

Premium=Intrinsic Value+Time Value\text{Premium} = \text{Intrinsic Value} + \text{Time Value}Premium=Intrinsic Value+Time Value

Intrinsic Value = Max(Strike − Futures Price, 0)
Time Value = Based on volatility, time to expiration, and interest rates

For example:

If gold = $3380.00 and your put strike = $3400.00:

Intrinsic = $20
If option trades at $28 → Time Value = $8

A bear put spread is an options strategy used when you expect the price of gold to decline moderately.

You buy a put option (higher strike) and sell a put option (lower strike) with the same expiration date.

The long put gives you downside profit potential.
The short put helps reduce the cost of the trade.
This caps both your risk and your max profit.

Click here for the Gold Bear Put Spread Cheat Sheet.

Please click here to access the: Comex Gold Bear Put Spread Cheat Sheet. We will be happy to walk you through and answer any questions, just give us a call.

Tomorrow:

Econ Data: EIA Crude Stocks, 17-week T-Bill auction, FOMC Minutes. Jackson Hole symposium begins

FED: 2 speakers

Earnings: TJX Companies, Lowes, Analog Devices Inc. Target

Tariff news: Anything goes!

Click here for the Gold Bear Put Spread Cheat Sheet.

Dec. Cocoa

December cocoa completed its first upside PriceCount objective and is correcting lower. IF the chart can resume its rally with new sustained highs, the second count would project a possible run to the 9379 area. It takes a trade above the June reactionary high to formally negate the remaining unmet downside objectives

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 Aug 20th, 2025

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Crude Oil, The Dollar, FOMC, September KC Wheat, Levels, Reports; Your 6 Crucial Need-To-Knows for Trading Futures on July 30th, 2025

Posted on July 29, 2025 by Cannon Operations

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Dollar Strength, Crude Oil Rally’s hard, FOMC tomorrow

By John Thorpe, Senior Broker

crude oil

The Federal Reserve is widely expected to keep interest rates unchanged at its meeting tomorrow, July 30, 2025. Market analysts and interest rate traders currently assign a very high probability—over 95%- a pause, with no rate hike or cut anticipated at this meeting.

Economists are expecting the first look at US 2Q 2025 GDP to show the economy grew by +2.4% on quarter over quarter terms, if realized that would be up from the final 1Q report -0.5% contraction. The advanced 2Q 2025 chain weighted price index is expected up +2.3%, and compares with the final 1Q report, up +3.8%. The data will be released at 7:30 am CT Wednesday morning.

The Crude market rally’s hard today on news Trump threatens 100% tariff on China if it continues to buy Russian crude oil. Front month September +$2.77 as of this writing. $2700.00 per contract. Crude has rallied nearly $5.00 bbl since the opening of Sunday evenings session. Yesterday’s OPEC+ maintained its current oil output policy at the Joint Ministerial Monitoring Committee (JMMC) meeting, with no changes to production plans.

The JMMC (Joint Ministerial Monitoring Committee) emphasized the critical importance of full conformity with agreed production levels, noting uneven compliance among some members.

The US Dollar may have bottomed in the short term as the past week we have seen signs of life. A 2.5% rally from the July 1 lows. The awakening of the dollar is not bullish for our export markets.

Tomorrow:

Econ Data: GDP, FOMC Rate decision, EIA Crude Stocks, Beige book

FED: Rate decision @ 1:00pm, followed by 1:30 press conference.

Earnings: Qualcomm, Meta, Microsoft

Tariff news: Anything goes!

September KC – Chicago Wheat

The September KC – Chicago wheat spread came up short of its low percentage fourth downside PriceCount objective early this month. Now, on the correction we have activated upside objectives. The first count projects a recovery to the -3 area.

Daily Levels for July 30th, 2025

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Summer Trading, E-Mini S&P 500, December Meal V. Corn Spread, Levels, Reports; Your 5 Important Need-To-Knows for Trading Futures on July 22nd, 2025

Posted on July 21, 2025 by Cannon Operations

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Summer Trading

By Ilan Levy-Mayer, VP

summer

Summer Trading at the Halfway Point

Today’s E-mini S&P 500 (ES) futures volume clocked in at just 874,000 contracts—a level we haven’t seen in months. Summer trading often brings thinner liquidity and choppier price action, so adapting your strategy is key.

To capture steadier intraday moves, diversify into other high-liquidity markets like gold futures, crude oil, and 30-year Treasury bond futures, where volume and volatility tend to hold up better in the off-season.

Also, swapping out time-based bars for range bars or volume bars will filter out noise and highlight true buying and selling pressure, giving you cleaner signals for entries, stops, and exits.

December Meal vs. Corn Spread – in cents/lb

The Dec Meal vs. Corn protein spread satisfied its second downside PriceCount objective to the 6.48 and is correcting higher. At this point, IF the chart can resume its break with new sustained lows, the third count would project a possible drop to the 5.05 area. While this spread is historically narrow already, a 5 cent spread is not unprecedented; we have traded at sub 3 cents in the past.

Daily Levels for July 22nd, 2025

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.

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Weekly Outlook Ahead!

By Gal Levy, Broker

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Mar. Bonds (ZB)

Overnight moves in metals, crude oil, natural gas and other markets were quite extreme!

Weekly Market update:

Stock Indices

Earnings and economic reports.

Geopolitical issues

When will the market test the new FED chairman

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Daily Levels for February 3rd, 2026

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Cannon Futures Weekly Letter

In Today’s Issue #1276

The Week Ahead – NFP, Iran, Govt. Shutdown?

Futures 101 – XRP, Solana, 1 ounce Gold & More are Now Available on CannonX

Cannon Edge – Your Futures trading Map for the week ahead!

Hot Market of the Week – March Wheat

Broker’s Trading System of the Week – SP500 Swing Trading System

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Mar. Bonds (ZB)

Important Notices: The Week Ahead

By John Thorpe, Senior Broker

The Week Ahead: NFP amidst a possible government shutdown

Earnings Next Week:

FED SPEECHES: (all times CST)

Econ Data: (all times CST)

Review below some Crypto contracts and new gold contracts!

Introducing Cannon Edge — Your Daily Futures Snapshot

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Hot Market of the Week

March Wheat

Brokers Trading System of the Week

Abacus Upside ES Trading System

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Higher Volatility in Metals, Energies and Stock Indices

By Ilan Levy-Mayer, VP

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Mar. Bonds (ZB)

Gold

Volatility

Introducing Cannon Edge — Your Daily Futures Snapshot

Current price and daily % change

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PROPRIETARY Short‑term and long‑term trend signals