In This Issue
by Jim Wyckoff
Gold futures on the Comex division of the New York Mercantile Exchange on Wednesday notched another fresh all-time record high of $1,183.20 an ounce, basis December futures. From a longer-term perspective, gold prices have been trending higher since the February 2001 low of $255.00 an ounce, basis nearby futures. There are no longer-term or shorter-term technical signals to begin to suggest a market top is close at hand in the gold futures market. With the precious yellow metal now well into uncharted territory, traders are wondering what are the next major upside technical price objectives. The work of legendary trader/analyst W.D. Gann shows strong technical support and resistance levels for markets tend to be at major round numbers. In the case of nearby gold futures the round numbers producing overhead chart resistance are presently located at $1,200 and then at $1,300.00 an ounce. Based upon Gann's work with 45-degree angles overlaid on price charts--called Gann angles--the monthly continuation chart for nearby Comex gold futures shows the next major upside price projections for gold futures at $1,300, at $1,750 and then at $2,100 an ounce.
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
This is not a solicitation of any order to buy or sell, but a current technical market view provided by JimWyckoff.com.
CME Group
Floor: Regular Close
NYMEX
Floor: Regular Close
GLOBEX
Regular Close
* Regular evening open for trade date Friday, November 27 (Exceptions: Commodity, GSCI, Weather, Grain, Ethanol, TRAKRS, ETF and Dairy products)
ICE
4:00 pm Close: Forex and USDX
* All other products regular close
EUREX
Regular Close
OneChicago
Regular Close
NYSE
Regular Close
Forex
Regular Close
CME Group
Floor: Closed
NYMEX
Floor: Closed
GLOBEX
10:30 am Close: Equity products
12:00 pm Close: Foreign Exchange, CBOT Financial, CME Interest Rate, Real Estate and Forestry products
12:15 pm Close: NYMEX/COMEX/DME products on Globex
* Regular evening open for trade date Friday, November 27 (Exceptions: Dairy products)
ICE
10:30 am Close: Russell products
12:00 pm Close: Forex and USDX products
Closed: Open Outcry, Softs and Index products
EUREX
Closed: US Equity Derivatives and Hurricane Futures
*No cash payment in USD
OneChicago
Closed
NYSE
Closed
Forex
Regular Close
CME Group
Floor
12:00 pm Close: Foreign Exchange, Interest Rate, Commodity, GSCI, Weather and Real Estate products
12:15 pm Close: Equity products
Closed: Dairy products
NYMEX
Floor: Regular Close
GLOBEX
12:00 pm Close: Commodity, Forestry, Weather, GSCI and TRAKRS products
12:15 pm Close: Equity, ETF, Real Estate, CBOT Financial, Interest Rate, Foreign Exchange products
12:45 pm Close: NYMEX/COMEX/DME products on Globex
ICE
12:00 pm Close: Softs and Index products
12:15 pm Close: Forex, USDX and Russell products
EUREX
Regular Close
OneChicago
12:00 pm Close
NYSE
12:00 pm Close
Forex
Regular Close
*All times listed in Central Time
For more information, visit http://www.cmegroup.com/tools-information/holiday-calendar/files/2009-thanksgiving.pdf
The above calendar is compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The closing times for certain contracts may have been rescheduled.
If you have any questions please contact us at 800-454-9572 or 310-859-9572.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 11/26 Thu |
Thanksgiving Day Holiday
|
|
| 11/27 Fri |
7:30 AM CST - Dairy Products Prices
7:30 AM CST - USDA Weekly Export Sales |
|
| 11/30 Mon |
8:45 AM CST - Chicago PMI(Nov)
|
FN: Dec 2,5,10 Year Notes(CBT)
Dec Bonds(CBT) Dec Barley(CBT) Dec Wheat(CBT) Dec Corn(CBT) Dec Oats(CBT) Dec Soymeal(CBT) Dec Soyoil(CBT) Dec Copper(CMX) Dec Gold(CMX) Dec Silver(CMX) Dec Platinum(CMX) Dec Palladium(CMX) LT: Nov Fed Funds(CBT) Dec Heating Oil(NYM) Dec RBOB Gasoline(NYM) Nov Fed Funds Options(CBT) Dec Lumber Options(CME) |
| 12/01 Tue |
9:00 AM CST - Construction Spending(Oct)
9:00 AM CST - ISM Index(Nov) 9:00 AM CST - Pending Home Sales(Oct) 1:00 PM CST - Auto & Truck Sales(Nov) |
|
| 12/02 Wed |
6:30 AM CST - Challenger Job Cuts(Nov)
7:15 AM CST - ADP Employment Report(Nov) 9:35 AM CDT - API & DOE Energy Stats 1:00 PM CST - Fed Beige Book |
FN: Dec Heating Oil(NYM)
Dec RBOB Gasoline(NYM) |
| 12/03 Thu |
7:30 AM CST - Initial Claims-Weekly
7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Employment Cost Index(Q4) 7:30 AM CST - Productivity-Rev(Q3) 9:00 AM CST - ISM Services(Nov) 9:35 AM CST - EIA Gas Storage 3:30 PM CST - 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!