Weekly Newsletter: Role of Speculators, Coffee Outlook & Trading Levels for April 22nd
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Cannon Futures Weekly Letter Issue # 1190
- Important Notices – Israel, Iran, PCE Report & More
- Futures 101 – The Role of Speculators in Futures Trading
- Hot Market of the Week – July Coffee
- Broker’s Trading System of the Week – NQ intraday System
- Trading Levels for Next Week
- Trading Reports for Next Week
Important Notices –
- The situation in the Middle East will loom over the markets next week. More on that below.
- Keep an eye on these potential futures market movers:
- It was hardly unexpected, but Israel’s missile strike on Iran Friday may foreshadow a dangerous series of tit-for-tat retaliation between the Middle East powers – and unsettle world markets. At the same time, the limited scale of the attack and Iran’s muted response appears so far to signal a successful effort by diplomats who have been working to avert all-out war.
- At the outset of Israel’s offensive last night, volatility amplified in key futures markets – stock indexes (S&P 500, Dow, Nasdaq), currencies, energies (crude oil), metals (gold), financials (30-yr. bonds, 10-yr. notes). Into late evening and on into today, there has been a virtual across-the-board drop-off in the inflated price fluctuation seen when news broke of the military action.
- GDP and PMI along with homes sales, durable goods and overall a packed week with economic reports.
- PCE Friday will provide additional clues as to the future of interest rates
- big earnings week MSFT, GOOG, META, XOM, Visa, TSLA
- Volatility in Cocoa and Coffee continues. Copper broke higher.
Trading Resource of the Week: Understanding the Role of Speculators
- Hot Market of the Week – July Coffee
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Broker’s Trading System of the Week
Daily Levels for April 22nd 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.