In This Issue
Daily SP500 Chart: What Will October Hold?
This publication is the property of National Futures Association
A survey of more than 500 experienced futures brokers asked what, in their experience, caused most futures traders to lose money. These account executives represent the trading experience of more than 10,000 futures traders. In addition, most of these Account Executives (AEs) have also traded or are currently trading for themselves. Their answers are not summarized because different traders make (and lose) money for different reasons. Perhaps you may recognize some of your strengths and weaknesses. Yet many of the reasons given are very similar from broker to broker. The repetitions stand to demonstrate that alas, many futures traders lose money for many of the same reasons. Perhaps these statements from experienced brokers can make a contribution to you, and make this sometimes fickle, often intricate, always interesting market place of futures trading possible.
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Click the image to enlarge the SP500 chart
Heading into the infamous month of October we take a look at a daily chart of the SP500, considered by some the leader of stock indices.
Some past Octobers witnessed sharp declines in the past but as we all know, "past performance is not necessarily indicative of futures results." More so, last few months we saw a very strong rally in stock indices across the globe.
What's next is the question we would all love to know the answer to...the chart above displays some levels to watch for in case the rally resumes and in case we do see a pullback in prices.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 10/01 Thu |
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Personal Income & Spending(Aug) 9:00 AM CDT - Construction Spending(Aug) 9:00 AM CDT - ISM Index(Sep) 9:00 AM CDT - Pending Home Sales(Aug) 9:35 AM CDT - EIA Gas Storage 1:00 PM CDT - Auto & Truck Sales 3:30 PM CDT - Money Supply |
|
| 10/02 Fri |
7:30 AM CDT - Dairy Products Prices
7:30 AM CDT - Ave Workweek & Hourly Earnings(Sep) 7:30 AM CDT - Nonfarm Payrolls(Sep) 7:30 AM CDT - Unemployment Rate 9:00 AM CDT - Factory Orders(Aug) |
FN: Oct Heating Oil(NYM)
Oct RBOB Gasoline(NYM) LT: Oct Live Cattle Options(CME) Nov Cocoa Options(ICE) |
| 10/05 Mon |
9:00 AM CDT - ISM Services(Sep)
|
FN: Oct Live Cattle(CME)
|
| 10/06 Tue |
|
|
| 10/07 Wed |
9:35 AM CDT - API & DOE Energy Stats
1:00 PM CDT - Consumer Credit(Aug) |
|
| 10/08 Thu |
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - USDA Weekly Export Sales 9:00 AM CDT - Wholesale Inventories(Aug) 9:35 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
|
* 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!