Cannon Futures Weekly Letter Issue # 1205
In this issue:
- Important Notices – Fed Minutes, FRB Jackson Hole Symposium, Econ Data
- Futures 101 – Videos: Bollinger Bands, Parabolics, Projecting Targets
- Hot Market of the Week – November Soybeans
- Broker’s Trading System of the Week – Mini NQ Swing Trading System
- Trading Levels for Next Week
- Trading Reports for Next Week
Important Notices – Next Week Highlights:
Fed Minutes, FRB Jackson Hole Symposium, Econ Data and a few earnings.
Gold just hit all time highs at time of writing this newsletter. 2548!!
Economic Data:
- Mon. Leading Economic Indicators
- Wed. FOMC Minutes
- Thu. Chi. Fed. Natl Activity index, weekly jobless claims, S&P PMI Flash, Existing Home Sales
- Fri. Bldg. Permits, FED CHAIR Powell speaks. 9:00 a.m. Central, New home Sales
Fed activity:
- Mon. Waller speaks
- Tues. Bostic and Barr speak
- Wed. FOMC Minutes from previous meeting, Jackson Hole Symposium begins.
- Fri. ** Fed Chair Powell Speaks. 9:00 a.m. Central**
Earnings Reports:
- Largely Retail Sector featured this week.
- Dollar Tree, Target, TJX, Lowe’s, Ross, Williams-Sonoma, Burlington, BJ’s and the biggest by market cap, PDD (TEMU)
- Check times below for econ data releases
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Futures 101: 25 Proven Strategies for Trading Options
If you are currently trading options on futures or are interested in exploring them further, check out our newly updated trading guide, featuring 25 commonly used options strategies, including butterflies, straddles, strangles, backspread and conversions. Each strategy includes an illustration demonstrating the effect of time decay on the total option premium involved in the position.
Options on futures rank among our most versatile risk management tools, and are offered on most of our products. Whether you trade options for purposes of hedging or speculating, you can limit your risk to the amount you paid up-front for the option while maintaining your exposure to beneficial price movements. To learn more about CME Group options, you can also visit our Options page
Complete the simple form and you will receive a link to download the 25 Proven Strategies brochure immediately. This eBook is free to you and no-obligation. Learn about the 25 Proven Strategies for trading options on CME Group Futures for FREE!
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- Hot Market of the Week – November Beans
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.
November Beans
November soybean satisfied the fourth downside PriceCount objective and is attempting an overdue near term correction higher. This suggests we may have come far enough for this phase of the bear run although the weekly chart has an open third count to the $9.07 area that keeps the downside potential open on a longer term basis.
PriceCounts – Not about where we’ve been, but where we might be going next!
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.
FASSONERIA – Mini NASDAQ – NEW SYSTEM
PRODUCT
NQ – Mini NQ
SYSTEM TYPE
Swing
Recommended Cannon Trading Starting Capital
$35,000
COST
USD 165 / monthly
Daily Levels for August 19th 2024
Trading Reports for Next Week
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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.