Watch out for these Tbills auctions! Buy/Sell Algo + Futures Trading Levels for 02.15.24

Treasury Auctions and Earnings

By Mark O’Brien, Senior Broker

There’s no shortage of trade guidance / advice / market news available to provide futures traders with reasoning for a market move.  Charts showing a market’s direction – or lack thereof – technical indicators, even a trader’s gut reaction can qualify as a reason to enter a position.  For short-term traders, here are a few others that lately have moved the financial markets more than usual and are worthy of consideration:

Earnings reports: we’re heading into the tail end of earning season and while most of the major U.S. companies have released their quarterly reports, there are still some on the horizon that can be catalysts for jolts in the markets.

Treasury auctions: at regularly scheduled dates, the federal government auctions three types of securities: bills, notes, and Treasury inflation-protected securities (TIPS). The Treasury auctions an astonishing quantity of securities.  In calendar year 2003, it auctioned $3.42 trillion of securities: $2.78 trillion of bills, $616 billion of notes, and $26 billion of TIPS.  Lately, the results of some of these auctions have also jostled financial markets.

Finally, take a look at one of the indicators developed in-house by the Cannon Trading team, headed by our vice president, Ilan Levy-Mayer.

Red arrows are a sell, blue arrows are a buy . Red bars are “sell territory”, green bars are “buy territory” and black bars are neutral. The chart below will show you examples of some good trades as well as not so good.

For a free trial of the indicator, click here.

Daily Levels for February 15th, 2024

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* 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.