In This Issue
Free Video: E-Mini Day Trading Techniques
Economic Reports and Expiration Notices
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The Continuous Commodity Index (CCI) is a basket of a dozen and a half raw commodity futures market prices rolled into one composite index. The CCI is an excellent barometer of overall commodity price trends and commodity price inflation. See on the daily chart for the CCI that an uptrend line drawn from the April and May lows has been penetrated on the downside and negated, but that a longer-term uptrend line is still in place. See, too, at the bottom of the chart that the Moving Average Convergence Divergence (MACD) indicator has also turned to a bearish posture, whereby the thick blue MACD line has moved below the thin red "trigger" line. Both lines are also trending lower, which is another bearish clue. Take note of the existing uptrend line on the daily chart. If the CCI penetrates on the downside and negates that longer-term uptrend line seen on the daily chart, meaning a price move below the 380.00 area, then more near-term chart damage would be inflicted to suggest still more downside price pressure in the index in the coming weeks.
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
By using moving averages as dynamic support and resistance we have a very powerful tool which allows us to prepare before the market opens and provides us with a blueprint for the first couple of hours trading which is the best time to trade in the day - it's when the professionals prefer to trade.
The basic technique is to use a synergy of EMA's to provide:
This video outlines the fundamental principles (Please be patient, it is a wmv file that takes a minute or so to load).
Click here to learn how to use them properly & how to prepare for the day.
Every day, an hour before the market opens, TradingEmini uses their techniques on the daily and 60 minute time frames, to determine their power zones - the zones where the probabilities are in favor to buy or sell and where it is likely to go sideways, be choppy and rip your stops out, so best not traded.
Click here to watch the Monday 6/15 Pre Market Video, posted at 8 am EST.
(We have 115 plus such PRE MARKET BEFORE THE FACT ANALYSIS posted on Youtube and 2,500 Twitter traders following us).
Click here to begin a free 3-week trial.
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!
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 06/18 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Leading Indicators(May) 9:00 AM CDT - Philadelphia Fed(Jun) 9:35 AM CDT - EIA Gas Storage 2:00 PM CDT - Milk Production 3:30 PM CDT - Money Supply |
LT: May Value Line(CME)
Jun NASDAQ(CME) Jun S&P 500(CME) Jun Valueline Options(CME) Jun NASDAQ Options(CME) Jun S&P 500 Options(CME) |
|---|---|---|
| 06/19 Fri |
7:30 AM CDT - Dairy Products Prices
2:00 PM CDT - Cattle On Feed |
|
| 06/22 Mon |
2:00 PM CDT - Cold Storage
|
LT: Jul Crude Oil(NYM)
|
| 06/23 Tue |
9:00 AM CDT - Existing Home Sales(May)
FOMC MEETING |
LT: Jul Cotton(NYM)
|
| 06/24 Wed |
7:30 AM CDT - Durable Orders(May)
9:00 AM CDT - New Home Sales(May) 9:35 AM CDT - API & DOE Energy Stats 1:15 PM CDT - FOMC Rate Decision |
FN: Jul Cotton(NYM)
Jul Crude Oil(NYM) |
| 06/25 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Q1 GDP - Final(Q1) 9:35 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: Jun Gold(CMX)
Jun Silver(CMX) Jun Platinum(CMX) Jun Palladium(CMX) Jul Copper Options(CMX) Jul Gold Options(CMX) Jul Silver Options(CMX) Jul Heating Oil Options(NYM) Jul RBOB Gasoline Options(NYM) Jul Natural Gas Options(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!