{"id":18720,"date":"2023-07-17T12:19:10","date_gmt":"2023-07-17T20:19:10","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=18720"},"modified":"2023-07-17T12:19:10","modified_gmt":"2023-07-17T20:19:10","slug":"trading-levels-for-july-18th-earnings-season-in-full-effect","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/trading-levels-for-july-18th-earnings-season-in-full-effect\/","title":{"rendered":"Trading Levels for July 18th – Earnings Season in Full Effect"},"content":{"rendered":"
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The Week Ahead by John Thorpe, Senior Broker:<\/h3>\n

Govt Reports, Earnings and the Fed Blackout period.<\/p>\n

On the close of Business June 16th the S&P<\/a> was at 4453.00, today we have a hi as of this writing, with 3.5 more hours to go in the session, of 4553.50\u00a0Up 100 points\u00a0and of course, not in a straight line.<\/p>\n

This does illustrate a continued bullish undertone. S&P<\/a> + .022%,\u00a0The NQ<\/a> is up .035% and the broadest market index, the Russell index<\/a>, the winner over this time period, up .041% .<\/p>\n

This brings us to a number of questions: can the rally that begin in March continue through the summer? What factors is the market watching for clues and direction?<\/p>\n

This week the most meaningful economic numbers to be released should be the June data on retail and food services sales at 7:30am\u00a0CT on Tuesday. Inflation expectations are overall well-anchored, if at levels a bit above where they were before the current episode began in 2021.<\/p>\n

Earnings season has arrived.\u00a0Last week the JPM and C released their numbers,\u00a0\u00a0This week the Regional Banks will start reporting results in addition to B of A, Morgan Stanley and Goldman Sachs,\u00a0the Tech and consumer stocks the market will be very interested with are Tesla and Netflix. United Airlines reports as well.<\/p>\n

Expectations are certainly muted from a year ago, and the lowered expectations have already been inserted on the game board by most analysts and ratings firms. Therefore, any good news should have a positive impact on the indices continued grind higher.<\/p>\n

Of note this week is the Fed Black out period in advance of the July 25-26 meeting where traders are currently expecting another .25 rate hike after the last sessions pause.<\/p>\n<\/div>\n

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Plan your trade and trade your plan.<\/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 07-18-2023<\/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\/ The Week Ahead by John Thorpe, Senior Broker: Govt Reports, Earnings and the Fed Blackout period. On the close of Business June 16th the S&P was at 4453.00, today we have a hi as of this writing, with 3.5 more hours to go […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,1434,230,61,235,344,1484,1378],"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-18720","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-charts-indicators","category-day-trading-2","category-futures-trading-2","category-index-futures","category-indices","category-nasdaq","category-sp-500","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\/18720","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=18720"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18720\/revisions"}],"predecessor-version":[{"id":18721,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18720\/revisions\/18721"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=18720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=18720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=18720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}