In This Issue
Martin Luther King Day Trading Hours
Economic Reports and Expiration Notices
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The following publication by the CME includes basic information for those who are looking to understrand the "E-Mini trading phenomenon" as well as more advanced information and trading examples for those who are already trading.
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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!
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February crude oil futures prices have been trending lower since notching a fresh contract and all-time high just above $100.00 a barrel on Jan. 3. Price action this week has seen the market poke below an uptrend line drawn off the reaction lows of the past few months. The crude bulls are fading, technically, and a drop and close below solid chart support at $90.00 would provide the bears with better downside near-term technical momentum. All commodity market traders need to keep a close eye on the crude oil futures market. If crude oil prices continue to fade, then the present bull runs in many other commodity futures markets will be in serious trouble. Indeed, crude oil, gold and the value of the U.S. dollar versus the other major currencies are the key "outside markets" for all traders to monitor closely.
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 |
|---|---|---|
| 01/17 Thu |
7:30 AM CST - Housing Starts & Building Permits(Dec)
7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 9:30 AM CST - EIA Gas Storage 11:00 AM CST - Philadelphia Fed(Jan) 3:30 PM CST - Money Supply |
|
| 01/18 Fri |
9:00 AM CST - Leading Indicators(Dec)
9:00 AM CST - Michigan Sentiment-Prel(Jan) |
LT: Jan S&P 500 Options(CME)
Jan Nasdaq 100 Options(CME) Jan Russell 2000 Options(CME) Jan E-mini S&P 500 Options(CME) Jan E-mini Nasdaq 100 Options(CME) Jan E-mini Russell 2000 Options(CME) Jan Mini Dow Jones Indus Options(CBT) Feb E-Mini Crude Oil(NYM) |
| 01/21 Mon |
Martin Luther King Holiday
|
Martin Luther King Day
U.S. Government & Exchange Holiday |
| 01/22 Tue |
Full Moon
|
LT: Feb Crude Oil(NYM)
|
| 01/23 Wed |
9:30 AM CST - API & DOE Energy Stats
|
|
| 01/24 Thu |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Existing Home Sales(Dec) 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply |
FN: Feb Crude Oil(NYM)
|
* 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!