Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
The Week Ahead.. the inflation count– up or countdown? 7,8,9,10
By John Thorpe, Senior Broker
All of the activity I will mention below will impact the outlook for interest rate decisions and the future health of our economy.
There are 7 important Gov’t reports this week , Please pay attention to the release times as they most certainly can effect the short term direction of your open positions.
Tuesday- Case-Shiller Home Price Index 8 am CST Consumer Confidence @ 9 am CST.
Wednesday- GDP and Advance Intl Trade in Goods 7:30 am CST.
Thursday-Jobless Claims and Personal Income and Outlays @7:30 AM CST
Friday- ISM Manufacturing @ 9AM CST..
There are 8 earnings numbers to watch.
Tuesday- BMO Bank of Montreal, CRWD Crowdstrike , HPE Hewlett Packard and INTU Inuit.
Wednesday- DLTR Family Dollar tree and CRM Salesforce
Thursday-ULTA Ulta Beauty and DELL Dell computer.
Friday will be a quiet earnings day.
These are important bellweather’s in their respective industries, Salesforce has been the number one stock this year boasting a 67% return.
There are 9 Fed Governor speeches this week.
Tuesday- 4 speakers Goolsbee, Waller, Bowman Barr Between 9am and 2:30 Pm CST
Last Friday’s OPEC meeting had been postponed until 13:00 GMT this Thursday.
According to Reuters, Nigeria and Angola wanted to have higher quotas and an agreement could not be reached. There are 10 member countries from Africa , Venezuela, Iran and Iraq round out the 13 current group members. Oil prices have taken a slide lately from $90.00US/BBL to the low $70.00’US/BBL.
The reductions in global oil prices have yet to be reflected by any meaningful measure at the retail level.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
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.
Happy Thanksgiving eve traders. You’re probably aware that with a U.S. holiday comes U.S. holiday futures trading hours which differ slightly from regular trading hours.
Generally, CME Group markets will open at their regular hours this afternoon, trade overnight and close early tomorrow morning.
→ Stock indexes, interest rates and currencies will open at their regular hours this afternoon and close tomorrow at 12:15 P.M., Central Time.
→ Energies and metals will open at their regular hours this afternoon and close tomorrow at 12:45 P.M., Central Time.
→ Grains will open at their regular hours this afternoon and close tomorrow at 12:05 P.M., Central Time.
→ Livestock and lumber will stay closed until their regular opening times on Friday.
The following link will take you the CME Group Thanksgiving holiday trading schedule (URL): click here.
The following link will take you the ICE Futures U.S. Thanksgiving holiday trading schedule (PDF): click here.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
The Week Ahead, This weeks trade may be as sloppy as gravy on Friday’s hot turkey Sandwich. Thanksgiving is here in the lower 48, please check our trading hours calendar for the markets you trade below.
If you are not trading, safe travels and do enjoy the triple F…
Family, Friends and Football.
This week one big earnings number and a few important reports including a Tuesday FOMC Minutes release @ 1:00 p.m. CST . the release details the conversations and tone of the November 1st meeting, Also, Tuesday after the close Nvidia‘s third-quarter earnings report, which is due out after Tuesday’s close, analysts are anticipating a per-share profit of $3.10 compared to a year-ago profit of 58 cents per share.
Revenue is forecast to arrive at $14.9 billion (+152.5% YoY).
Wednesday earnings will essentially be featureless but not the US Gov’t Reports . Of note at 7:30 a.m. CST there are 2 impactful from Econoday.com 1. Durable goods
2.initial claims
Thursday there will be no reports – Thanksgiving Holiday here in the US ( see modified schedule below)… and don’t confuse Black Friday with Texas Tea! The OPEC meeting is taking place and will announce expectations of production cuts, how far and how fast has yet to be seen but the markets movements over the past few trading sessions are supportive of OPEC production constraints.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Futures Fundamentals is a one-stop educational resource designed to simplify and explain complex market topics. Through interactive features and rich content, the website explains the role of futures markets in everyday life and provides information on the derivatives industry.
Futures Fundamentals is the driving force in an industry-wide effort to provide risk management education to learners at all levels.
Futures Fundamentals is a fun way to learn about the markets in an interactive way, not only will you be able to easily move forward if you already know the material, you can also easily move back to review the material and in addition, you will be able to register for a trading demo as well!
This collaborative educational resource is an industry-wide effort made possible by a number of contributing organizations across the Futures Trading industry. NFA, CME Group, FIA, and the Institute for Financial Markets (IFM), have come together in an effort to provide investors with the industry’s leading tools, knowledge and resources.
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.
Feb hogs stabilized after satisfying their second downside PriceCount objective, and then activated upside counts on the correction higher. So far, sustaining strength to take on the upside targets has been a challenge. Meanwhile, the third downside objective would be in play if you can resume the slide with new sustained lows
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
Broker’s Trading System of the Week
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
Would you like to receive daily support & resistance levels?
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Most Common Pitfalls To Avoid When Trading Futures-Commodity Futures
500 experienced futures brokers were asked what caused most futures traders to lose money when comes to trading futures.
Their answers reflected the trading experience of more than 10,000 futures traders. Download the PDF and find out what they said.
1) Have A Plan
Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they overtrade and use their equity to the limit (are undercapitalized), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones. Learn how to do futures trading the right way.
2) News Factor
Many traders don’t realize the news they hear and read has, in many cases, already been discounted by the market.
3) Trade Objectively
After several profitable trades, many speculators become wild and nonconservative. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail.”
4) Know Your Size
Traders often try to carry too big a position with too little capital and trade too frequently for the size of the account.
5) Don’t Get Greedy When It Comes To Trading Futures
Some traders try to “beat the market” by day trading, nervous scalping, and getting greedy.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Here in the United States yesterday, stock index futures vaulted on the heels of the Bureau of Labor Statistics’ release of its Consumer Price Index for October, which slowed to 3.2 percent last month on a year-over-year basis, lower than the 3.7 percent reading in September and the coolest since July. Leading the way was the Russell 2000 which climbed ±95 points, $4750 per contract move for the E-mini Russell 2000 futures contract, over a 5% uptick. Compare that to the ±86-point / $4,325 per contract move up for the E-mini S&P 500, or the ±335-point / ±$6,700 move for the E-mini Nasdaq.
Investors undoubtedly anticipated the likely end to the Federal Reserve’s historical rate hike cycle and this was followed by a wave of lower CPI data from Europe when the following day (our Tuesday night) Germany, the United Kingdom and Italy all reported below-estimate consumer price readings and well below last month’s as prices abroad continued to decelerate.
In other news, President Biden and China’s President Xi will meet south of San Francisco during afternoon US trading hours.
In a development attributed to El Niño and possibly a catalyst to rising commodities prices, Central America is experiencing drought conditions so acute, the freshwater lakes associated with the Panama Canal have declined to such low levels, it’s resulted in one of the world’s largest shipping corridors having to reduce vessel traffic. The canal sees about 5% of the world’s seaborne trade travel through it and is critical for transporting commodities with petroleum, liquefied natural gas and grains among the top shipments that pass through the waterway. Ships are now spending weeks waiting at sea, sailing around South America or the tip of Africa, or paying exorbitant amounts to jump to the front of the line. Last week, a Japanese global petroleum and metals conglomerate paid a record $3.975 million in an auction for preferential line placement for one of its ships.
In a Reuters piece earlier this week, the news wire reported that Goldman Sachs is forecasting returns of 21% on commodities over a 12-month horizon, using as its basis the S&P Goldman Sachs Commodity Index (GSCI), including gains of ±31% from energy and ±18% from industrial metals. Currently, the GSCI contains 24 commodities from all commodity sectors: six energy products, five industrial metals, eight agricultural products, three livestock products and two precious metals.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
Webinar password: d2GPM8kZc42 (32476859 from phones and video systems)
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This online event will be recorded for the purposes of archived viewing for attendees unable to attend the live session. By participating in this online event, you are considered to have consented to the recording. All video and audio communications must remain professional and relevant to the topic and purpose of the online event. Personal views or opinions expressed during the online event are those of the participants and may not necessarily reflect the official policy or position of CME Group.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.
RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
