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FOMC Minutes, Gold and Silver Highs, Top Assets by Market Cap, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on December 30th, 2025

Posted on December 29, 2025 by Cannon Operations

FOMC Minutes Tomorrow on a Short Trading Week

By Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Feb(#GC)	4151.67	4252.63	4416.97	4517.93	4682.27
Silver (SI) — Mar. (#SI)	62.59	67.41	75.04	79.87	87.50
Crude Oil (CL) — Jan (#CL)	56.29	57.07	57.68	58.46	59.07
Mar. Bonds (ZB) — Mar (#ZB)	115 5/32	115 17/32	115 27/32	116 7/32	116 17/32

Last FOMC of the Year

fomc

General:

Keep an eye out for tomorrow’s release of the Minutes of the Federal Reserve’s December FOMC meeting (1:00 P.M., Central Time).

Metals:

Gold and silver futures markets tumbled after touching record highs, bringing a parabolic move in the precious metals space to a screeching halt.

Gold

After touching Friday’s all-time intraday high of $4,584 per ounce, Feb gold futures tumbled more than $200 per ounce today – a $20,000 per contract move – to hover near $4,340 per ounce.

Gold All-Time Intraday High

As well, after trading up more than $5.00 per ounce from Friday’s close to its own intraday all-time high of $82.67 per ounce, March silver futures dropped more than $12.00 per ounce to near $70.00 per ounce – a whopping ~15% intraday decline and a $60,000 per contract move – and is currently trading slightly above $71.00 per ounce.

Silver

Traders were on edge going into Monday’s session after the Chicago Mercantile Exchange raised the initial margin requirement on the March 5,000-oz. silver futures contract to $22,000, forcing higher leveraged traders to either add cash to their accounts or reduce their positions.

Despite today’s sell-off, silver’s whopping +174% rise this year has turned the metal into the third most valuable asset in the world, trailing only gold and Nvidia and outstripping tech titans such as Apple, Alphabet (Google) and Microsoft.

Silver Market Cap

According to CompaniesMarketCap, silver’s market cap stands at $4.485 trillion dollars. Gold tops the list with a market cap of $31.719 trillion, followed by Nvidia at $4.638 trillion.

Daily Levels for Dec. 30th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

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Christmas 2025 Trading Schedule, PPE, Edvardus – Breakout Gold Trading System, Coffee, Levels, Reports; Your 5 Important Need to Knows for Trading Futures the Week of December 22nd, 2025

Posted on December 19, 2025 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1271

The Week Ahead – Short Trading Week, PCE, Small Cap Earnings
Futures 101 – Christmas Modified Trading Schedule
Hot Market of the Week – March Coffee
Broker’s Trading System of the Week – Gold Day Trading System
Trading Levels for Next Week
Trading Reports for Next Week

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Feb(#GC)	4312.53	4341.47	4365.23	4394.17	4417.93
Silver (SI) — Mar. (#SI)	63.31	65.37	66.52	68.58	69.74
Crude Oil (CL) — Jan (#CL)	55.18	55.87	56.29	56.98	57.20
Mar. Bonds (ZB) — Mar (#ZB)	114 27/32	115 3/32	115 12/32	115 20/32	115 29/32

Important Notices: The Week Ahead

By John Thorpe, Senior Broker

Christmas Holiday Schedule, Core PCE and 7 small cap stocks report earnings.

christmas

Economic Data reporting nearly caught up.

Perhaps the monthly numbers should come out every two months? The delayed CPI and NFP numbers for two months sure seem like they were smoothed out with less volatility than we expected as a result.

As for earnings reports? Next week we will see the numbers for 7 stocks as Q3 earnings reports are winding down.. all less than 280M in market cap as we close out 2025.

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

Earnings Next Week:

· Mon. Quiet

· Tue. Quiet

· Wed. Quiet

· Thu. Mkts closed

· Fri. Quiet

FED SPEECHES: (all times CDT)

· Mon. None

· Tues. None

· Wed. None

· Thu. None

· Fri. None

Major Economic US Reports: (all times CDT)

To our valued clients and fellow futures traders,

As we wrap up another year of charts, candles, and occasionally “interesting” market moves, all of us at Cannon Trading want to wish you a peaceful holiday season and a prosperous New Year.

Thank you for trusting us to be by your side through trend days, range days, and everything in between. Whether your year felt like a smooth uptrend or a choppy sideways market, we appreciate the opportunity to help you navigate it.

Our holiday wish for you: tighter spreads, smoother fills, and more trades that hit their targets than their stops. And on the days the markets don’t cooperate, we hope you still find time to step away from the screens, recharge, and enjoy what matters most.

Here’s to a new year filled with discipline, good risk management, and opportunities worth trading.

Happy Holidays and best wishes for a successful year ahead,

The Cannon Trading Team

Please visit the modified trading Schedule Blog and let us know any questions!

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 Coffee

The summer rally in March coffee lost its momentum and turned sideways into the fall. Now, the chart has activated downside PriceCounts as the formation has shifted lower. The first count projects a possible slide to the 317.50 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

Edvardus – Breakout Gold Trading System

Market Sector: Metals

Markets Traded: GC -Gold

System Type: Swing Trading

Risk per Trade: varies

Trading Rules: Edvardus Breakout GOLD is a breakout swing trading strategy. It has passed robustness testing such as walk-forward analysis.

Broker’s Suggested Capital: $21,000

Developer Fee per contract: $250.00 Monthly Subscription

Get Started

Learn More & Detailed Results

Last few trades from December below:

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. W

hile 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 Dec. 22nd 2025

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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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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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Silver and Copper, Crude Oil, March – May Wheat Spread, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on December 4th, 2025

Posted on December 3, 2025 by Cannon Operations

What You Need to Know!

by Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Feb(#GC)	4198.13	4219.37	4246.33	4267.57	4294.53
Silver (SI) — Mar. (#SI)	57.49	58.22	58.94	59.66	60.38
Crude Oil (CL) — Jan (#CL)	57.77	58.44	59.04	59.71	60.31
Mar. Bonds (ZB) — Mar (#ZB)	115 30/32	116 9/32	116 19/32	116 30/32	117 8/32

General:

This morning’s November ADP jobs report was well into negative territory falling to the lowest levels since 2020. The payrolls processing firm reported private companies cut 32,000 workers, with small businesses hit the hardest.

The report’s data were worse than anticipated as the Dow Jones consensus estimate from economists was to see an increase of 40,000 and a sharp step down from October, which saw an upwardly revised gain of 47,000 positions.

The ADP report is the last monthly jobs picture the Federal Reserve gets before it meets Dec. 9-10. Futures traders are now assigning a nearly 90% probability that the central bank will approve another quarter percentage point cut, according to the CME Group FedWatch tool:

This month’s release of the Labor Department’s monthly non-farm payrolls report has been moved from its traditional first Friday of the month to Tuesday, December 16, 2025, 7:30 A.M., Central Time. The report is widely considered to be one of the most important and influential measures of the U.S. economy.

More General:

Last Friday, a vital data center used by CME Group, overheated and suffered a more-than-ten-hour outage, shutting down trading at the world’s largest derivatives exchange. On an average day, it processes equity indexes futures and options trades tied to $1.5 trillion of underlying assets, and interest-rate-related trades with a notional value of $9.6 trillion.

While the blow was softened because it came late on Thanksgiving Day, this was the longest outage in recent CME history.

Energies:

In a credible sign that the world’s largest crude importer is nearing peak demand, China’s oil consumption next year – although still growing – will be surpassed by India’s for the first time. This was forecast by Singapore-based Trafigura Group, the world’s second-largest oil trader.

A key component to this, they explain, is that China’s main demand driver for crude – its consumption of road fuels – is weakening as adoption of electric cars and, increasingly, electric trucks has grown rapidly.

Metals:

New front month March silver futures traded to new all-time highs today, trading intraday to $59.65½ per ounce. The move includes a ~$8.00 per ounce move since Mon. Nov 24, a ±$40,000 per contract move for the main 5,000-oz. futures contract.

Driven by persistent concerns over a tightening global supply, March copper futures surged ~15 cents per pound (±2.8%) and traded up to ~4-month highs near $5.40 per pound today.

March – May Wheat Spread

The March – May Wheat Spread satisfied the first upside PriceCount objective off the August low. The chart is reacting with a short-term correction, which is normal. At this point, if the spread can resume its rally with new sustained highs, the second count would project a possible run to the -5.5 area.

Daily Levels for Dec. 4th, 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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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

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Price Extremes: Gold, Silver, Crude Oil; December KC Wheat, Levels, Reports; Your 4 Important Must-Knows for Trading Futures on October 16th, 2025

Posted on October 15, 2025 by Cannon Operations

Price Extremes

By Mark O’Brien, Senior Broker

General:

Day 15 of the U.S Government shutdown.

Stock Index Futures:

Dec. stock index futures returned to solid gains late today as markets remained alert over US-China trade tensions and amid hopes for interest rate cuts and strong quarterly earnings results from Wall Street banks. Traders have cemented bets on a rate cut later this month, and odds of a rate cut in December have jumped in recent days to around 96% according to the CME Group FedWatch tool:

Prices Metals:

It’s the broken record metals report. Dec. gold futures rose to new all-time highs today – its 47^th new record of the year – trading up to $4,235.80/ounce intraday.

Alongside gold, Dec. silver rocketed up nearly $2.00/oz. today to set its own all-time record high, trading intraday up to $52.55/ounce. This after yesterday when the contract took out a 45-year-old record closing price of $48.70/ounce, during the time when the Hunt brothers tried to corner the market.

Prices Energies:

November crude oil futures have remained on their lows this week – with a new multi-month intraday low of $58.20/barrel on continued concerns about oversupply and the possible impact on demand of rekindled U.S.-China trade tensions – its fourth day in a row closing below $60/barrel.

Livestock:

Dec. live cattle and Jan. feeder cattle both closed little changed today and within pennies of their own all-time record high closing prices at the close of trading yesterday. Tight supplies and strong feeder markets pushed cash cattle higher and the futures markets followed suit. The supply of cattle has lingered at a near 75-year low, with the closure of the US-Mexico border to Mexican cattle imports further constraining an already tight supply.

December KC Wheat

December KC wheat satisfied its third downside PriceCount objective and reacted with a key reversal higher. It would be normal to get a mean reversion from this level in the form of a consolidation or corrective phase, at least. If the chart can sustain further weakness, we are left with the low percentage fourth count to aim for in the $4.37 area. That we trade down to this level is a realistic target although we have traded that low just 5 years ago.

Daily Levels for Oct. 16th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

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Options Trading, All Time Highs for Gold/Silver, Spread Trading Webinar TOMORROW, Levels, Reports; Your 5 Important Must-Knows for Trading Futures on October 15th, 2025

Posted on October 14, 2025 by Cannon Operations

Volatility – New All Time High on Gold, Silver!

Learn How to hedge utilizing Options

By John Thorpe, Senior Broker

options

Option Hedging 201

This fall, some markets have exceeded upside expectations, Examples include Equities, Livestock, Precious Metals, Coffee and Cocoa.

If you are a long-term investor of Gold, Gold ETF’s Gold Futures and want to or need to protect your investments I put together, for the second time this year, with a few tweaks, Option strategies to protect your downside risk.

You can use these for any market with liquid options.

These are not dollar for dollar coverage strategies, However, I have included pros and cons as I did previously, to help you determine suitability given your personal risk assessment.

Read the rest along with specific examples and charts.

Instant Viewing/Download: Hedging with Options Cheat Sheet

SPECIAL WEBINAR Tomorrow- limited space

Ever got stopped out on a trade just to see the market goes back in your direction??

Perhaps it’s time to learn about spread trading?

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December Canadian Dollar

The December Canadian Dollar satisfied its second downside PriceCount objective. Fuel is now behind to get a near term reaction from this level in the form of a consolidation or corrective rise. If the chart can sustain further downside, the third count would project a possible slide to the 0.6967 area.

Daily Levels for Oct. 15th, 2025

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U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

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Volatility Tuesday! All-time Highs on Gold, December Cocoa, Levels, Reports; Your 5 Important Must-Knows for Trading Futures on October 14th, 2025

Posted on October 13, 2025 by Cannon Operations

Volatility – New All Time High on Gold!

volatility

The last few trading sessions we saw tremendous volatility across many markets.

What we witnessed last night and during today’s session reminded me of the markets when COVID first broke out and we saw limit moves across the board.

The moves down Friday on equities, metals and other markets and then the HUGE GAP open yesterday on the Sunday afternoon re-open were a bit SCARY to be honest but also present some large potentials as well.

New All-time highs on gold!!

Here are some ideas to explore during times like these:

1. You don’t have a crystal ball.

To think you can buy an ES contract in this volatility and use a 2 point stop in hopes of making 20 points profit is a very low probability event…you would need to buy it at the PEREFECT time for this to happen. Point is, with higher volatility you need to use WIDER stops to give yourself a chance. That may mean using SMALLER trade size.

2. If you are able to,

share your read with another trader,

it may provide you with a better perspective just by sharing.

3. If you think there is room for a big move or what we call a “runner” –

be prepared to for the pullbacks.

Use multiple time frames to gain a better perspective and hang in there for the big move, if this is what you think can happen.

4. If you have enough risk capital, try to use multiple contracts, example buying 2 rather than 1. Taking profit on the first part of the position will help you relax and look at what the market is really telling you rather than what you would like it to say. It helps reduce both the fear and the greed.

5. “Plan your trade, trade your plan”.

Again, these are just some short pointers, written quickly after today’s session in hopes of helping you when you face a similar situation.

December Cocoa

December cocoa extended its break into a new low where the chart is satisfying its third downside PriceCount objective. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade, at least. From here, IF the chart can sustain further weakness with another leg down, we are left with the low percentage fourth count to aim for to the 3647 area, consistent with a test of the contract low.

Daily Levels for Oct. 14th, 2025

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Silver Reaching New Heights, December Gold, Levels, Reports; Your Important Need-To-Know Facts for Trading Futures on October 7th, 2025

Posted on October 6, 2025 by Cannon Operations

Silver Hitting Multi Years Highs

silver

Silver Soars

By Andy Hecht – www.cqg.com

A bullish trend since the 2020 low
Silver rises to the highest price in fourteen years- The 2011 and 1980 highs are the upside targets
Fundamentals support higher silver prices
Gold supports rising silver prices
Expect volatility and new highs as investment and speculative demand are critical

At the turn of this century, nearby COMEX silver futures prices were $5.413 per ounce. After trading as low as $4.02 in November 2001, silver prices began a slow ascent, reaching $49.82 a decade later, in April 2011. The 2011 peak was slightly below the record 1980 high at $50.32 per ounce.

Silver corrected from the 2011 high, but the price remained above the $10 level, trading to a low of $11.64 in March 2020 as the global pandemic weighed on prices across all asset classes. Silver quickly recovered, rising to over $20 four months later in July 2020.

In September 2025, silver futures are closing in on a challenge to the 2011 and 1980 peaks, and all signs indicate that those levels could soon become technical support rather than resistance.

A bullish trend since the 2020 low

The continuous COMEX silver futures contract reached a low of $11.74 per ounce in March 2020 as the global pandemic gripped markets across all asset classes.

Read the rest of the article along with charts and More!

Contact our trading desk today to learn how we can help you integrate silver and gold into your strategies.

December Gold

December gold has accelerated its rally into a new all-time high. The chart is taking aim at its upside PriceCount objective the 401.7 area. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade, at least. If the chart can sustain further strength, we are left with the low percentage fourth count in the 616 area (not shown here for presentation purposes) which is viewed as an unlikely target.

Daily Levels for Oct. 7th, 2025

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Gold continues its Breakout Amid Potential Gov. Shutdown, December Bean Oil, Hedging Strategies, Levels, Reports – The Important Must-Knows for Trading Futures on September 24th, 2025

Posted on September 23, 2025 by Cannon Operations

Movers and Shakers: Gold Breakout Meets Shutdown Risk: Hedging Strategies Explained

By John Thorpe, Senior Broker

The U.S Governments’ fiscal year concludes at the end of the third quarter. Expect more volatility as we wait to see how traders bet on whether or not Congress can pass appropriations bills to keep the U.S. Government open for business. The Government, in the past, shut down most recently in 2018. Prior to that? 2013, 1995 and 1994. Gold prices rallied during the shutdowns in the past. But what if there is no shutdown?

Gold has been on the move since we had a breakup! (breakout to the upside) from the 5-month rangebound trade, ($3200-$3500) basis the December gold contract. Since September 2^nd, gold has rallied in 3 weeks over $300 per troy oz. to $3810.00, if your crystal ball had you long Gold and you want to protect your current gains, what follows are a few Ideas you can implement using futures options. Consult with your Cannon Trading broker (800 454 9572 or 310 859 9572) for clarity.

Calculate the size you will be hedging: Calculate the number of contracts as (Portfolio Value / Gold Price × 100 oz)). For a $760,000 long position at $3,800/oz, use ~2 contracts.

Strategy 1: Protective Put (Straightforward Downside Insurance)

Buy put options on gold futures to gain if gold prices fall, offsetting losses in your long position. This is ideal for strong bullish views but with short-term downside concerns.

Steps to Implement:

Assess Exposure: Determine your long position’s value.
Choose Strike and Expiration: Out-of-the-money (OTM) puts (e.g., 5-10% below current price, like $3,600 strike at $3,800 spot) for cheaper premiums; at-the-money (ATM) for fuller protection. Use 1-3 month expirations for flexibility.
Execute: Buy puts via a futures-approved broker (e.g., Cannon Trading). Premium: ~1-5% of notional (e.g., $500-$2,000 per contract at 20% implied vol).

Example:

Gold at $3,800; buy $3,600 put expiring in 2 months for $150/oz premium ($15,000/contract).
If gold drops to $3,400: Put worth ~$200/oz (intrinsic value), hedging $20,000 loss per contract in your long position.
If gold rises: Lose only the premium, but keep gains.

Pros: Retains unlimited upside; simple. Cons: Premium decays over time (theta); costly in low-vol environments.

Strategy 2: Collar (Low-Cost or Zero-Cost Hedge)

Buy a protective put and sell an OTM call to finance it. This caps upside but provides free/cheap downside protection—suitable for neutral to mildly bullish outlooks in volatile markets.

Steps to Implement:

Buy Put: OTM (e.g., $3,600 strike).
Sell Call: OTM above spot (e.g., $4,000 strike) with same expiration.
Match Sizing: Same number of contracts as your exposure.
Execute: Net premium near zero if call income matches put cost (adjust strikes for balance).

Example:

Buy $3,600 put ($150/oz premium); sell $4,000 call (collect $150/oz).
Net cost: $0.
Protection below $3,600; upside capped at $4,000 (may need to close if called away) Pros: Minimizes upfront cost; effective in sideways markets. Cons: Limits gains; potential assignment on calls.

Strategy 3: Bear Put Spread (Defined-Risk, Lower-Cost Protection)

Buy a higher-strike put and sell a lower-strike put for partial hedge at reduced cost. Best for moderate downside expectations without full insurance.

Steps to Implement:

Select Strikes: Buy ATM/OTM put (e.g., $3,800); sell further OTM (e.g., $3,400).
Expiration: 1-6 months.
Contracts: Match exposure.
Execute: Net debit = Long put cost minus short put premium (e.g., $200/oz debit = $20,000/contract).

Example:

Buy $3,800 put ($250/oz); sell $3,400 put (collect $50/oz). Net: $200/oz.
Max hedge benefit: $400/oz spread minus debit ($200/oz profit if gold < $3,400).
Limited protection to spread width.
Pros: Cheaper than naked puts; caps max loss. Cons: No protection below short strike; less flexible.

December Bean Oil

December soybean oil completed the first downside PriceCount objective to the 49 area where we are getting a reaction in the form of a potential spike reversal trade. At the point, if the chart can resume its break with the new sustained lows, the second count would project a possible slide in the 47 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 Sept. 24th, 2025

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FOMC Minutes Tomorrow on a Short Trading Week

By Mark O’Brien, Senior Broker

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Mar. Bonds (ZB)

Last FOMC of the Year

General:

Metals:

Gold

Gold All-Time Intraday High

Silver

Silver Market Cap

Daily Levels for Dec. 30th, 2025

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Cannon Futures Weekly Letter

In Today’s Issue #1271

The Week Ahead – Short Trading Week, PCE, Small Cap Earnings

Futures 101 – Christmas Modified Trading Schedule

Hot Market of the Week – March Coffee

Broker’s Trading System of the Week – Gold Day 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

Christmas Holiday Schedule, Core PCE and 7 small cap stocks report earnings.

To our valued clients and fellow futures traders,

Hot Market of the Week

March Coffee

Brokers Trading System of the Week

Edvardus – Breakout Gold Trading System

Last few trades from December below:

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

Daily Levels for Dec. 22nd 2025

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Trading Reports for Next Week

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

by Mark O’Brien, Senior Broker

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Mar. Bonds (ZB)

Important – CPI:

Energies:

Metals:

March Wheat – Corn Spread

Daily Levels for Dec. 18th, 2025

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Economic Reports

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What You Need to Know!

by Mark O’Brien, Senior Broker