In This Issue
Reports and Expiration Notices
(all times are CST)
Friday, May 26th
| Exchange | Details |
| CBOT | 12:00 close: Financial contracts Regular close: Equity and agricultural contracts |
| eCBOT | 12:00 close: Dow-AIG commodity index contracts 12:30 close: Metals contracts 1:00 close: Financial contracts Regular close: Equity contracts |
| CME | Floor: 12:00 close: Commodity, foreign exchange, interest rate, and GSCI contracts 12:02 close: Commodity options Regular close: Equity contracts |
| GLOBEX | 12:00 close: E-Livestock contracts 3:15 close: Foreign exchange and interest rate contracts Regular close: Equity contracts |
| Nymex/Comex | 11:00 close: Aluminum and palladium 11:05 close: Copper and silver 11:10 close: Platinum and gold 12:00 close: Energy products |
| NYBOT | 12:00 close: Financial contracts Regular close: Agricultural contracts |
| OneChicago | Regular close |
| Eurex US | 1:00 close: Treasury contracts Regular close: Russell and foreign exchange contracts |
Sunday, May 28th
| Exchange | Details |
| CBOT | Floor: Closed |
| eCBOT | Closed |
| CME | Floor: Closed |
| GLOBEX | Regular evening opening |
| Nymex/Comex | Floor: Closed |
| Access/ClearPort | Closed |
| NYBOT | Closed |
| OneChicago | Closed |
| Eurex US | Closed |
Monday, May 29th
| Exchange | Details |
| CBOT | Floor: Closed |
| eCBOT | Day session closed. Regular evening opening |
| CME | Floor: Closed |
| GLOBEX | 10:30 close: Equity contracts 12:00 close: Foreign exchange and interest rate contracts Regular evening opening |
| Nymex/Comex | Floor: Closed |
| Access/ClearPort | Regular evening opening |
| NYBOT | Closed |
| OneChicago | Closed |
| Eurex US | Closed: Treasury and Russell contracts. Regular evening opening Regular close: Foreign exchange contracts |
By Jim Wyckoff
July crude oil futures at the New York Mercantile Exchange on Monday poked to a fresh six-week low of $68.17 a barrel. However, prices then quickly rebounded to close solidly higher and near the session high. Good follow-through buying interest was also seen Tuesday morning. Now, Monday's low of $68.17 a barrel is strong technical support. A close below that level would produce some near-term chart damage and would suggest more sideways to lower trading in the near term. On the upside, solid near-term technical resistance for July crude oil is located at $72.00 a barrel and then at $73.00. A close above major psychological resistance at $75.00 a barrel would open the door to a challenge of the May 3 contract high of $76.40, or above. Technical odds suggest that in the coming weeks nearby crude oil futures will trade in a wide range between the above technical parameters of $68.00 to $75.00 a barrel.
Disclaimer:
Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. This is not a solicitation of any order to buy or sell, but a current futures market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, 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 judgment in trading!
Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at Jim Wyckoff
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 05/25 Thu |
7:30 AM CDT - GDP-Prelim(Q1)
7:30 AM CDT - Chain Deflator-Prelim(Q1) 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Existing Home Sales(Apr) 9:00 AM CDT - Help-Wanted Index(Apr) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: May Frozen Pork Bellies(CME)
May Feeder Cattle(CME) May Feeder Cattle Options(CME) Jun Natural Gas Options(NYM) Jun Heating Oil Options(NYM) Jun Unleaded Gas Options(NYM) Jun Gold Options(CMX) Jun Silver Options(CMX) Jun Copper Options(CMX) |
| 05/26 Fri |
7:30 AM CDT - Personal Income & Personal Spending(Apr)
7:30 AM CDT - Dairy Products Prices 8:50 AM CDT - Michigan Sentiment-Rev(May) |
LT: May Gold(CMX)
May Silver(CMX) May Copper(CMX) May Platinum(NYM) Jun Corn Options(CBT) Jun Rough Rice Options(CBT) Jun 30 Yr US Bonds(CBT) Jun Soybean Options(CBT) Jun Soybean Meal Options(CBT) Jun Soybean Oil Options(CBT) Jun Wheat Options(CBT) |
| 05/29 Mon |
Memorial Day Holiday
|
|
| 05/30 Tue |
9:00 AM CDT - Consumer Confidence(May)
|
FN: Jun US 30 Yr Bonds(CBT)
Jun US 10 Yr T-Notes(CBT) Jun US 2 & 5 Yr T-Notes(CBT) Jun Natural Gas(NYM) |
| 05/31 Wed |
9:00 AM CDT - Consumer Confidence(May)
9:00 AM CDT - Chicago PMI(May) 9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - FOMC Minutes(May 10) Agricultural Prices |
FN: Jun Gold(CMX)
Jun Silver(CMX) Jun Copper(CMX) Jun Palladium(NYM) Jun Platinum(NYM) LT: May Fed Funds(CBT) Jun Heating Oil(NYM) Jun Unleaded Gas(NYM) Jun Lumber Options(CME) |
| 06/01 Thu |
7:30 AM CDT - Productivity-Rev(Q1)
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Construction Spending(Apr) 9:00 AM CDT - ISM Index(May) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply Auto & Truck Sales |
|
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, 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 judgment in trading!