Veterans Day, Price Banding + Trading levels for 11.11.2022
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
This morning at 7:30 A.M., Central Time / 5:30 A.M., Pacific Time, the Bureau of Labor Statistics released its Consumer Price Index Report, which measures the prices paid by consumers for a basket of consumer goods and services. Instantly, stock index futures experienced EXTREME volatility. The E-mini $5 Dow Jones futures contract (YMZ22) jumped ±500 points (a ±$2,600 per contract move) in less than 10 seconds. The E-mini S&P 500 futures contract (ESZ22) jumped ±100 points (a ±$5,000 per contract move) within that same short span of time.
What happened? We wrote about this topic in detail a few weeks ago. Read More!
If you are a day trader, make sure to check your calendar for when these important reports will occur. Not being prepared may result in severely consequential results for your trades and your account.
Check out the 10-second chart below showing today’s market movement.
Also tomorrow is Veteran’s Day. While banks are closed, the futures markets will be open regular hours.
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.
Futures Trading Levels
Economic Reports, Source:
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.