{"id":19999,"date":"2024-08-07T12:13:30","date_gmt":"2024-08-07T20:13:30","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19999"},"modified":"2024-08-07T12:13:30","modified_gmt":"2024-08-07T20:13:30","slug":"traders-stay-alert-high-volatility-and-key-economic-events-ahead","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/traders-stay-alert-high-volatility-and-key-economic-events-ahead\/","title":{"rendered":"Traders Stay Alert: High Volatility and Key Economic Events Ahead"},"content":{"rendered":"
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Traders Stay Alert!<\/h3>\n

By Mark O’Brien, Senior Broker<\/p>\n

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

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High volatility across the major financial commodities carried forward from last week, particularly Monday.\u00a0 Price ranges coming into today\u2019s close include over 1200 points in the E-mini Dow Jones <\/a>($6,000 per contract), \u00b1$82 for Dec. gold<\/a> ($8,200 per contract), over 10,000 points for Bitcoin futures ($10,000 per contract), over 225 points in the E-mini S&P 500<\/a> ($11,250 per contract) and more than 1,200 points for the E-mini Nasdaq<\/a> ($12,000 per contract).<\/p>\n

If the rest of the week sees a falloff in unevenness among these markets \u2013 an unlikely presumption \u2013 it\u2019ll be a short rest.\u00a0 Next week another raft of economic data comes to the markets, including key inflation measurements with the release of the U.S. Labor Department\u2019s Producer and Consumer Price Indexes (Tue. and Wed., respectively) and the Census Bureau\u2019s Thurs. report on Retail Sales.<\/p>\n

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The following week, traders will turn their eyes and ears toward Jackson Hole, Wyoming and the world\u2019s most exclusive economic get-together: the Federal Reserve Bank of Kansas City-hosted Economic Symposium.\u00a0 And once again, the most hotly anticipated event will be a speech by Federal Reserve chair Jerome Powell that typically takes place on Friday morning.\u00a0 Often his speech is a chance for the central bank to send a signal about monetary policy and in the context of the recent shakiness in financial markets, his words will make headlines.<\/p>\n

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So much for summer doldrums.<\/p>\n

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

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September crude oil<\/a> jumped \u00b1$2.00\/ per barrel today on the heels of a six-week \u00b1$10 per barrel slide from \u00b1$83\/barrel to $73\/barrel going back to early July.\u00a0 The rally ensued after data showed a bigger-than-expected draw in U.S. crude stockpiles which have declined for six straight weeks.\u00a0 On the demand side, worries about weak oil demand in China persisted.\u00a0 Reports today showed that China, the world’s biggest importer of crude reported its lowest average daily import level for the month of July since September 2022.\u00a0 China\u2019s imports of other major commodities including iron ore, coal, copper and natural gas have also lost momentum or at best remained flat in recent months.<\/p>\n

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\"textalertsbanner<\/a><\/h3>\n

Daily Levels for August 8th, 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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* 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     Traders Stay Alert! By Mark O’Brien, Senior Broker General:\u202f\u00a0   High volatility across the major financial commodities carried forward from last week, particularly Monday.\u00a0 Price ranges coming into […]<\/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-19999","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19999","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=19999"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19999\/revisions"}],"predecessor-version":[{"id":20001,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19999\/revisions\/20001"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}