{"id":18274,"date":"2023-02-08T13:51:48","date_gmt":"2023-02-08T21:51:48","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=18274"},"modified":"2023-02-08T13:51:48","modified_gmt":"2023-02-08T21:51:48","slug":"looking-at-the-last-two-trading-days-of-the-week-futures-levels-2-09-2023","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/looking-at-the-last-two-trading-days-of-the-week-futures-levels-2-09-2023\/","title":{"rendered":"Looking at the last two trading days of the Week + Futures Levels 2.09.2023"},"content":{"rendered":"
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Get Real Time updates and\u00a0more on our private FB group!<\/div>\n
https:\/\/business.facebook.com\/groups\/1105191589938254\/<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Looking at the last two trading days of the week…..<\/h3>\n

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By Mark O’Brien, Senior Broker<\/p>\n

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General:<\/p>\n

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It\u2019s a safe statement to make that the U.S. economy remains a quandary of conflicting signs.\u00a0Growth is slowing in areas like housing and manufacturing, Americans are beginning to tamp down on spending and inflation is beginning to normalize.\u00a0Last Wednesday, the Federal Reserve\u2019s eighth straight interest rate hike was the smallest since its fight against inflation commenced last March.<\/p>\n

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At the same, the labor market remains formidable.\u00a0On Friday, data released from the U.S. Bureau of Labor Statistics showed the economy added 517,000 jobs \u2013 shattering expectations \u2013 and the unemployment rate dropped to 3.4 percent, a low not seen since May 1969.<\/p>\n

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Yesterday, during a question-and-answer session with David Rubenstein of the Economic Club of Washington, Mr. Powell reiterated the Fed\u2019s outlook that the bank has more work to do and<\/p>\n

that \u201cthe disinflationary process has begun,\u201d the strong labor market is an example of why steering the economy to \u201cthis will be a process that takes a significant period of time.\u201d<\/p>\n

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It shouldn\u2019t be surprising to traders \u2013 particularly equity index, currency, financial and even metals traders \u2013 if volatility remains elevated for a comparable \u201csignificant period of time.\u201d<\/p>\n

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Softs:<\/p>\n

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Sugar<\/a> traded to six-year high of 21.86 intraday (basis March) last Wednesday, 2\/1 and is trading \u00b1.50 below there as of today\u2019s close.\u00a0The latest Commitments of Traders update shows a heavy net long position of >170K contracts \u2013 an exceptional measure of upside risk and likely a precursor to expanded volatility.<\/p>\n

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Orange Juice<\/a> has advanced \u00b150 cents (a \u00b1 $7,500 move) over the last dozen trading sessions \u2013 including back-to-back limit-up moves of 10 cents last Tuesday and Wednesday \u2013 to new all-time highs near $2.58\/pound.\u00a0A Jan. U.S. Dept. of Agriculture report that orange production in Florida would be over half compared to the prior season is propelling the upward move.<\/p>\n

Plan your trade and trade your plan.\u00a0<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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A Cannon broker<\/a> will be able to assist, provide feedback and answer any questions.<\/div>\n
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 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.<\/p>\n

Futures Trading Levels<\/strong><\/h3>\n

02-09-2023<\/p>\n

\"#ES,
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG<\/figcaption><\/figure>\n

Improve Your Trading Skills<\/h2>\n
Get access to proprietary indicators and trading methods,\u00a0consult with an experienced broker<\/a><\/div>\n
\u00a01-800-454-9572\u00a0Explore trading methods.\u00a0Register Here<\/a><\/div>\n


\n<\/a>Economic Reports, Source:\u00a0<\/strong><\/h3>\n

Forexfactory.com<\/a><\/p>\n

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This is not a solicitation of any order to buy or sell, but a current market view provided by\u00a0Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, 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\u00a0judgement\u00a0in trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and\u00a0more on our private FB group! https:\/\/business.facebook.com\/groups\/1105191589938254\/ Looking at the last two trading days of the week…..   By Mark O’Brien, Senior Broker     General:   It\u2019s a safe statement to make that the U.S. economy remains a quandary of conflicting signs.\u00a0Growth is slowing in areas like housing and manufacturing, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,230],"tags":[],"class_list":["post-18274","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-day-trading-2"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=18274"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18274\/revisions"}],"predecessor-version":[{"id":18275,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18274\/revisions\/18275"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=18274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=18274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=18274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}