{"id":18452,"date":"2023-05-10T12:17:33","date_gmt":"2023-05-10T20:17:33","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=18452"},"modified":"2023-05-10T12:17:33","modified_gmt":"2023-05-10T20:17:33","slug":"ppi-tomorrow-and-the-last-2-trading-days-of-the-week-review","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/ppi-tomorrow-and-the-last-2-trading-days-of-the-week-review\/","title":{"rendered":"PPI Tomorrow and the Last 2 Trading Days of the Week Review"},"content":{"rendered":"
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Get Real Time updates and more on our private FB group!<\/span><\/div>\n
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https:\/\/business.facebook.com\/groups\/1105191589938254\/<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Last Two Trading Days of the Week:<\/h3>\n

By Mark O’Brien, Senior Broker<\/p>\n

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General:<\/strong><\/p>\n

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Despite the fireworks frequently on display from stock index futures immediately preceding the release of the Consumer Price Index report over the last several months, an interesting result followed.\u00a0In each of the last five releases, the S&P 500<\/a> closed within 0.5% of the prior day\u2019s settlement.\u00a0This is in stark contrast to some of the reports last year, notably November\u2019s CPI release that sent the Nasdaq<\/a> up \u00b17%.<\/p>\n

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On the heels of today\u2019s CPI release indexes are looking to finish up with a similar outcome.\u00a0This morning\u2019s report showed consumer prices up 4.9% from last year, yet it marked the tenth consecutive month the inflation gauge slowed \u2013 now down from its peak of 9.1% last June, but still well north of the Federal Reserve’s 2% target.<\/p>\n

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Next up tomorrow at 7:30 A.M., Central Time, the Bureau of Labor Statistics releases its latest reading on prices at the wholesale level: its Producer Price Index.<\/p>\n

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Markets:<\/strong><\/p>\n

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Metals:\u00a0<\/strong>After piercing last month\u2019s highs and touching $2,085 \/ ounce intraday last Thursday, June gold<\/a> has consolidated somewhat, not too scared or encouraged by today\u2019s inflation report \u2013 and not ready to anticipate the Fed.\u2019s next move.<\/p>\n

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July copper<\/a> sold off \u00b15 cents today and for the fifth time in the last ten trading sessions has tested 5-month lows near $3.82 \/ pound.\u00a0This on the heels of languid economic reading from the world\u2019s largest commodities consumer: China.<\/p>\n

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Energies:<\/strong>\u00a0The negative sentiment from China dragged crude oil below its 5-6-month intraday low of March 20th\u00a0at $64.58 per barrel, trading intraday last Thursday to $63.64 per barrel, a \u00b1$20-per-barrel \/ $20,000 per contract skid from its mid-April ascendance to \u00b1$83 per barrel.\u00a0Given crude oil\u2019s<\/a> seemingly continual fixation with the events of the day \u2013 whatever they are \u2013 volatility remains \u2013 and the market has bounced \u00b1$10 per barrel in barely four trading sessions.<\/p>\n

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

for 05-11-2023<\/p>\n

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#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG<\/figcaption><\/figure>\n<\/div>\n
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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 more on our private FB group! https:\/\/business.facebook.com\/groups\/1105191589938254\/ Last Two Trading Days of the Week: By Mark O’Brien, Senior Broker   General:   Despite the fireworks frequently on display from stock index futures immediately preceding the release of the Consumer Price Index report over the last several months, an interesting result […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,76,119,230,61,1334,236],"tags":[1481,1480,1475,1471,1469,1467,1468,1474,1472,1477,1478,1476,1479,1470,1473,1172,1239,40,627,1277,36],"class_list":["post-18452","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-commodity-trading-2","category-crude-oil","category-day-trading-2","category-futures-trading-2","category-gold-futures","category-metal-futures","tag-cbot","tag-comex","tag-commoditiesmarket","tag-commoditiestrader","tag-commoditytrading","tag-crudeoil","tag-daytrader","tag-futuresmarket","tag-futurestrader","tag-kcbt","tag-mgex","tag-nymex","tag-smfe","tag-stockindices","tag-swingtrader","tag-cme","tag-commodities","tag-daytrading","tag-futures","tag-globex","tag-gold"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18452","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=18452"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18452\/revisions"}],"predecessor-version":[{"id":18453,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18452\/revisions\/18453"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=18452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=18452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=18452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}