{"id":20647,"date":"2024-12-03T13:42:09","date_gmt":"2024-12-03T21:42:09","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20647"},"modified":"2024-12-03T13:43:02","modified_gmt":"2024-12-03T21:43:02","slug":"movers-and-shakers-analyzing-market-trends-and-upcoming-fed-signals","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/movers-and-shakers-analyzing-market-trends-and-upcoming-fed-signals\/","title":{"rendered":"Movers and Shakers: Analyzing Market Trends and Upcoming Fed Signals"},"content":{"rendered":"\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend!<\/p>\n

Join our\u00a0Private Facebook group<\/a><\/p>\n

Subscribe to our\u00a0YouTube Channel<\/a><\/p>\n

Listen to our podcast: Subscribe on\u00a0Apple<\/a>,\u00a0Spotif<\/a>y,\u00a0Amazon<\/a>,\u00a0or wherever you listen to podcasts!<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Movers and shakers!<\/h3>\n

By John Thorpe, Senior Broker<\/p>\n

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Fed Chair Powell speaks tomorrow.<\/p>\n

WTI Backwardation:<\/p>\n

For a short period of time now, the Crude oil markets structure has been in Backwardation.\u00a0\u00a0Backwardation is where the spot or front futures contract is trading at higher prices than the future or deferred months.<\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0In the short run , this could be seen as bullish for the commodity,\u00a0meaning there is a more aggressive need to own or hold the product now, rather than in the future. This could be the result of supply chain issues, geopolitical threats, or in very few cases short covering rallies.<\/p>\n

Front Month WTI Crude, January is currently trading at 70.04 up 1.94 from yesterdays close. 40 cents higher than the next month February , and a full dollar higher than April contract currently trading at 69.04..<\/p>\n

Backwardation can resolve itself in a day or within months, depending on the perception and severity of the supply side shortage or the demand side aggression.<\/p>\n

You may have heard the opposite of Backwardation in the futures markets is Contango.\u00a0Contango is typically considered a carrying charge market, where the future price or deferred contract prices are higher as a result of cost to carry, storage and insurance.<\/p>\n

Today\u2019s movers and shakers<\/p>\n

updated: December 3, 2024 9:00 am<\/p>\n

**US October 2024 Job Openings and Labor Turnover Summary (JOLTS): 7.744 mln; prior month 7.443 mln<\/p>\n

Updated: December 3, 2024 11:33 am<\/p>\n

San Francisco Fed President Daly: will have restrictive policy until inflation gets to 2%<\/p>\n

Updated: December 3, 2024 11:40 am<\/p>\n

Fed Governor Kugler: worries Congress and Trump administration will affect productivity<\/p>\n

Tomorrow\u2019s Movers and Shakers.<\/p>\n

Fed Chairman Jerome Powell Speaks @ 12:45 CST NYTimes Dealbook Summit.<\/p>\n

ADP 7:15 CST, SP Svcs PMI 8:45 CST, ISM Svcs PMI 9:00 CST<\/p>\n

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Daily Levels for December 4, 2024<\/em><\/p>\n

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Economic Reports<\/em><\/div>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/em><\/div>\n
All times are Eastern Time ( New York)<\/em><\/div>\n
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Good Trading!<\/div>\n
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About:\u00a0Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities trading.<\/div>\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.\u00a0You 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.<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend! Join our\u00a0Private Facebook group Subscribe to our\u00a0YouTube Channel Listen to our podcast: Subscribe on\u00a0Apple,\u00a0Spotify,\u00a0Amazon,\u00a0or wherever you listen to podcasts! Movers and shakers! By John Thorpe, Senior Broker   Fed Chair Powell speaks tomorrow. WTI Backwardation: For a short period of time now, the Crude […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[231,76,230,67,61],"tags":[],"class_list":["post-20647","post","type-post","status-publish","format-standard","hentry","category-commodity-brokers-2","category-commodity-trading-2","category-day-trading-2","category-future-trading-news","category-futures-trading-2"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20647","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=20647"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20647\/revisions"}],"predecessor-version":[{"id":20651,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20647\/revisions\/20651"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}