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Cannon Futures Weekly Letter Issue # 1200
In this issue:
- Important Notices – 4th of July Modified Trading Schedule +Busy Short Week Schedule
- Futures 101 – Essentials of Order Flow
- Hot Market of the Week – Sept. Silver
- Broker’s Trading System of the Week – Mini Nasdaq Swing Trading System
- Trading Levels for Next Week
- Trading Reports for Next Week
Important Notices – Next Week Highlights:
-
Earnings: no significant earnings for the large indices, a quiet one next week on this frontFed Speakers:
- The fireworks start here with Fed Chair Powell, Speaking from Sintra , Portugal at the ECB Central Banking Forum 8:30 am CST Tuesday
- 6 a.m. CST Wednesday Fed Gov. Williams
- Also on Wed. FOMC Minutes 1 p.m. Central / 45 minutes after the Equities close ( all other financial markets remain open until 4 p.m. central)
- Friday early, 4:40 a.m. CST Fed Williams , speaks again
Econ Data: Potentially biggest fireworks display ignited by the following:- Construction Spending, ISM manufacturing, Redbook, Jolts, Economic Optimism Index, ADP Employment change, US Balance of trade, Initial Jobless claims, S&P Global PMI, Factory Orders, FOMC Minutes, Non-Farm Payrolls.
Please read down for dates and times in our calendar
- Real Time Email and/or Text Alerts
Directly to your Phone!
- You will receive an email each time there is an entry or exit in a simple language along with the current price for that specific market.
- Example: Sell June MBT ( micro bitcoin) at market. Target will be 61920 Stop at 70540
- A licensed series 3 broker at your fingertips
- Email alerts available to US and Canada and Int’l clients
- Alerts available for: Stock Indices, Grains, Metals, Rates, Currencies, Meats & Softs
- Alerts are SWING Trades
- See an example of a recent trade alert for Micro Bitcoin Futures in the image below – a new trade alert from June 14th
-
Hot Market of the Week – September Silver
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.
September Silver
September silver completed its second upside PriceCount objective last month and is correcting lower. In the process, the chart has activated downside counts and is approaching the the first objective to the 28.71 area. It takes a trade below the February reactionary low to formally negate the remaining unmet upside targets.
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.
Optimized Kinetic ES
PRODUCT
SYSTEM TYPE
Swing
Recommended Cannon Trading Starting Capital
$30,000
COST
USD 127 / monthly
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.
Daily Levels for July 1st 2024
Trading Reports for Next Week
First Notice (FN), Last trading (LT) Days for the 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.