{"id":20255,"date":"2024-10-01T20:24:56","date_gmt":"2024-10-01T20:24:56","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20255"},"modified":"2024-10-01T20:24:56","modified_gmt":"2024-10-01T20:24:56","slug":"market-volatility-rises-amid-longshoreman-strike-and-middle-east-tensions","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/market-volatility-rises-amid-longshoreman-strike-and-middle-east-tensions\/","title":{"rendered":"Market Volatility Rises Amid Longshoreman Strike and Middle East Tensions"},"content":{"rendered":"Get Real Time updates and more by joining our Private Facebook Group<\/a>!\r\n\r\n\r\n\r\nSubscribe to our\u00a0YouTube Channel<\/a>\r\n\r\n\r\n\r\nListen to our Market Recap Podcasts on Apple Podcasts<\/a>\r\n\r\n\r\n\r\n
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\"\"<\/figure>\r\n \r\n\r\nMovers and Shakers<\/strong>\r\n\r\nBy John Thorpe, Senior Broker\r\n\r\nLong Shoreman Strike \/ Israel Struck<\/strong>\r\n\r\nActivity today was volatile both for Equities and outside markets.<\/strong>\r\n\r\nThe Beast awoke at 9 a.m. eastern on queue, when equity futures prices sank, simultaneously rallying Crude oil and Metals futures, Gold and Silver leading the charge.\u00a0As the threats turned into reality of both Strikes occurring, 200 shells lobbed from Iran were, in large part intercepted with minimal damage and loss of life. The unsettling potential effects to the supply chain and the conflicts in middle east potentially leading to an Iranian attempt at a Straights of Hormuz Blockage sending Crude oil Up over $3.00\/bbl before settling down to just 2 bucks higher.. as the markets expanded early to mid day, cooler heads seemed to prevail, the markets contracted as they absorbed the headlines..<\/strong>\r\n\r\n \r\n\r\n \r\n\r\nMovers and shakers!<\/strong>\r\n\r\nToday\u2019s News:\r\n\r\nUpdated: October 1, 2024 7:37 am\r\n\r\n\u201cThe Administration is taking action to monitor and address potential impacts on consumers due to labor disputes at East Coast and Gulf Coast ports. Our analysis shows we should not expect significant changes to food prices or availability in the near term. Thanks to the typically smooth movement through the ports of goods, and our strong domestic agricultural production, we do not expect shortages anytime in the near future for most items. Likewise, non-containerized bulk export shipments, including grains, would be unaffected by this strike. For meat and poultry items that are exported through East and Gulf Coast ports, available storage space and re-direction of products to alternative domestic and international markets can alleviate some of the pressure on farmers and food processors. We are keeping an eye on downstream impacts in the west, and we will continue to monitor and work with industry to respond to potential impacts. Our Administration supports collective bargaining as the best way for workers and employers to come to a fair agreement, and we encourage all parties to come to the bargaining table and negotiate in good faith\u2014fairly and quickly.\u201d\r\n\r\n \r\n\r\nUpdated: October 1, 2024 7:55 am\r\n\r\nRedbook Weekly US Retail Sales Headline Recap<\/strong>\r\n\r\n \r\n\r\n**Redbook Weekly US Retail Sales were +5.2% in the first four weeks of September 2024 vs September 2023\r\n\r\n**Redbook Weekly US Retail Sales were +5.3% in the week ending September 28 vs yr ago week\r\n\r\nUpdated: October 1, 2024 8:37 am\r\n\r\nThe\u00a0September\u00a0Purdue University Ag Economy Barometer recorded its lowest readings since March 2016 at 88 down from 100 in the prior month.\r\n\r\nDeclining income expectations pushed farmer sentiment down, and the Index of Future Expectations dropped 14 points to 94. The Index of Current Conditions also fell to 76 from 83 in the prior month, which nearly matched levels seen in April 2020, during the height of COVID-19 concerns for farmers.\r\n\r\n \r\n\r\nUpdated: October 1, 2024 9:01 am\r\n\r\nInstitute of Supply Management (ISM) US Manufacturing Headline Recap<\/strong>\r\n\r\n \r\n\r\n**ISM US September Manufacturing Composite Index: 47.2 ; expected 47.4 ; prior month 47.2\r\n\r\n**ISM US September Manufacturing Prices Paid: 48.3 vs prior month 54.0\r\n\r\n**ISM US September Manufacturing Employment: 43.9 vs prior month 46.0\r\n\r\n**ISM US September Manufacturing New Orders: 46.1 vs prior month 44.6\r\n\r\n**ISM US September Manufacturing Inventories: 43.9 vs prior month 50.3\r\n\r\n**ISM US September Manufacturing Production: 49.8 vs prior month 44.8\r\n\r\nUpdated: October 1, 2024 8:46 am\r\n\r\nUS Job Openings and Labor Turnover Survey (JOLTS) data for August 2024 will be released this morning around 9:00 am CT. Last month’s report estimated the end of July job openings at 7.673 million.\r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\nWatch Tomorrow\u2019s Movers and Shakers:<\/strong>\r\n\r\n4 fed Speakers\u00a0Hammack, Musalem, Bowman and Barkin\u00a0during market hours .\r\n\r\n \r\n\r\n \r\n\r\n \r\n\r\nEarnings:\u00a0only 9\u00a0headed by ConAgra<\/strong>\r\n\r\n \r\n\r\n\r\n
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Daily Levels for October 2, 2024<\/h3>\r\n\r\n
<\/figure>\r\n\r\n\r\n\"\"\r\n\r\n\r\n\r\nEconomic Reports<\/strong>\r\n\r\n\r\n\r\nprovided by:\u00a0<\/a>ForexFactory.com<\/a>\r\n\r\n\r\n\r\nAll times are Eastern Time ( New York)\r\n\r\n\r\n
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Improve Your Trading Skills<\/h2>\r\n\r\n\r\nGet access to proprietary indicators and trading methods,\u00a0consult with an experienced broker<\/a> at 1-800-454-9572.\r\n\r\n\r\n\r\nExplore trading methods.\u00a0Register Here<\/a>\r\n\r\n\r\n
\"\"<\/a><\/figure>\r\n\r\n\r\n* 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> \u00a0 #Equities, #Consolidation phase, #Interest rates, #Precious metals, #Gold, #Silver, #US Dollar, #Crude oil prices, #HurricaneHelene, #Middle East tensions, #Chinese stimulus, #Redbook US Retail Sales, #Case Schiller US Metro-Area Home Prices, #Richmond Fed Manufacturing Index, #Service Sector Index, #Consumer Confidence, #New Home Sales, #Micron Technology","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   Movers and Shakers By John Thorpe, Senior Broker Long Shoreman Strike \/ Israel Struck Activity today was volatile both for Equities and outside markets. The Beast awoke at 9 […]<\/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-20255","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20255","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=20255"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20255\/revisions"}],"predecessor-version":[{"id":20256,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20255\/revisions\/20256"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}