{"id":19741,"date":"2024-05-08T12:26:11","date_gmt":"2024-05-08T20:26:11","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19741"},"modified":"2024-05-08T12:26:11","modified_gmt":"2024-05-08T20:26:11","slug":"what-to-look-for-on-the-last-2-trading-days-of-the-week-levels-for-may-9th","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/what-to-look-for-on-the-last-2-trading-days-of-the-week-levels-for-may-9th\/","title":{"rendered":"What to look for on the last 2 trading days of the week + Levels for May 9th"},"content":{"rendered":"
Get Real Time updates and more by joining our Private Facebook Group<\/a>!<\/span><\/div>\n
Subscribe to our\u00a0YouTube Channel<\/a><\/span><\/div>\n
Listen to our Market Recap Podcasts on Apple Podcasts<\/a><\/div>\n
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Bullet Points: Highlights and Announcements<\/h3>\n

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by Mark O’Brien, Senior Broker<\/p>\n

Energy:\u202f\u00a0<\/strong><\/p>\n

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Options five day a week; it\u2019s not just for stock index futures.\u00a0 Mark your calendars; starting Monday July 22, WTI Crude Oil<\/a> options will be available with Tuesday and Thursday expirations alongside the already-available Monday, Wednesday and Friday expirations and monthly options.\u00a0 Once in place, along with shorter expirations and lower premiums, WTI Weekly options will provide opportunities to hedge weekend headline risk, OPEC+ meetings or geopolitical events. They can also be used to express views on mid-week announcements, including the weekly E.I.A Petroleum Status Report, typically released on Wednesday.<\/p>\n

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Financials:\u00a0<\/strong><\/p>\n

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On the interest rate front, some interesting news: in contrast with the wait-and-see mode of the United States, today Sweden followed Switzerland, Hungary, and the Czech Republic in easing monetary policy for the first time since interest rate hiking cycles began in 2022, when inflation surfaced in the aftermath of the COVID pandemic. The central bank of Sweden \u2013 the Riksbank \u2013 lowered its policy rate by 0.25 basis points to 3.75%, making it more likely that the European Central Bank will jump on the bandwagon. The shift is noteworthy as it highlights the current divergence among central banks around the world.<\/p>\n

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Grains:\u00a0<\/strong><\/p>\n

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Ostensibly the report of the week in an otherwise humdrum 5-day stretch, this Friday the U.S. Department of Agriculture will release its monthly World Agricultural Supply and Demand Estimates (WASDE) report.\u00a0 The report provides annual forecasts for supply and use of U.S. and world wheat, rice, coarse grains, oilseeds, and cotton.\u00a0 The report also covers U.S. supply and use of sugar, meat, eggs and milk.\u00a0 Simultaneously released is the monthly Crop Production report which contains crop production data for the U.S., including crop conditions, acreage, area harvested and yield.<\/p>\n

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Stock Indexes:\u00a0<\/strong><\/p>\n

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Happy birthday Micro E-mini futures!\u00a0 In 2019, Micro E-mini futures on the four leading equity indices became the most successful launch in CME Group history.\u00a0 In just these first five years, over\u202f2.6 billion\u202fcontracts have traded.\u00a0 The average daily volume reached over 2.4 million contracts across the four indices (up 355% since 2019).\u00a0 And how about this for global reach: 24% of average daily volume came from outside of the U.S., with trades submitted from 170+ countries.<\/p>\n

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In just five years, demand and liquidity for Micro E-mini futures have grown significantly from both active individual and institutional traders, creating more possibilities than ever for those seeking new opportunities. These liquid, smaller-sized contracts provide an efficient way to scale equity exposure with precision, while adding versatility to trading strategies.<\/p>\n

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Daily Levels for May 9th, 2024<\/h3>\n

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Economic Reports<\/strong><\/div>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/div>\n
All times are Eastern Time ( New York)<\/div>\n
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Improve Your Trading Skills<\/h2>\n

Get access to proprietary indicators and trading methods,\u00a0consult with an experienced broker<\/a> at 1-800-454-9572.<\/p>\n

Explore trading methods.\u00a0Register Here<\/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 Cannon 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.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and more by joining our Private Facebook Group! Subscribe to our\u00a0YouTube Channel Listen to our Market Recap Podcasts on Apple Podcasts     Bullet Points: Highlights and Announcements   by Mark O’Brien, Senior Broker Energy:\u202f\u00a0   Options five day a week; it\u2019s not just for stock index futures.\u00a0 Mark your calendars; […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19741","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19741","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=19741"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19741\/revisions"}],"predecessor-version":[{"id":19742,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19741\/revisions\/19742"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}