March 31st, 2010 - Issue #526

In This Issue

1. Holiday Alert: Good Friday Trading Schedule
2. Fibonacci Techniques for Math Geeks -- and Everyone Else, Too
3. Economic Calendar

1. Holiday Alert: Good Friday Trading Schedule

* All times listed in Central Time

Thursday, April 1

CME Group (Floor)
Regular Close

NYMEX (Floor)
Regular Close

GLOBEX
Regular close

ICE
Regular Close

EUREX
Regular close

OneChicago
Regular Close

NYSE
Regular Close

Forex
Regular Close

Friday, April 2

CME Group (Floor)
Closed: Commodities, GSCI, Weather, Real Estate and Equity products
10:00: Foreign Exchange and Interest Rate products

NYMEX (Floor)
Closed

GLOBEX
Closed: NYMEX/COMEX/DME, Commodities, GSCI, Weather. Real Estate and Kospi 200 products
8:15 am Close: Equity products
10:15 am Close: Interest Rate and Foreign Exchange products

ICE
Closed: Soft and Open outcry products
8:15 am Close: Index products
10:15 am Close: Financial products

EUREX
Closed

OneChicago
Closed

NYSE
Closed

Forex
Regular Close

Sunday, April 4

CME Group (Floor)
Closed

NYMEX (Floor)
Closed

GLOBEX
Regular Open

ICE
Regular Open

EUREX
Closed
*All markets will remain closed until the regular evening open on Monday, April 5th

OneChicago
Closed

NYSE
Closed

Forex
Regular Open

*All times listed in Central Time

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 Cannon Trading Client Services online or via phone at (800) 454-9572.

2. Fibonacci Techniques for Math Geeks -- and Everyone Else, Too

by Elliott Wave Editorial Staff

The word Fibonacci (pronounced fib-oh-notch-ee) can draw either blank stares or an enthusiastic response. There's hardly any in-between ground. But for those who ask how an esoteric mathematical relationship can apply to price charts and trading, here's a quick lesson. Everyone who uses Elliott wave analysis will sooner or later want to try using Fibo techniques, and Elliott Wave International's Jeff Kennedy has written about five of them in a Trader's Classroom column. For an example of why people are so fascinated by Fibonacci, read part of Kennedy's article here:

* * * * *

How to Apply Fibonacci Math to Real-World Trading
Have you ever given an expensive toy to a small child and watched while the child had less fun playing with the toy than with the box that it came in? In fact, I can remember some of the boxes I played with as a child that became spaceships, time machines or vehicles to use on dinosaur safaris.

In many ways, Fibonacci math is just like the box kids enjoy playing with imaginatively for hours on end. It's hard to imagine a wrong way to apply Fibonacci ratios or multiples to financial markets, and new ways are being tested every day. Let's look at just some of the ways I apply Fibonacci math in my own analysis.

Fibonacci Retracements
Financial markets demonstrate an uncanny propensity to reverse at certain Fibonacci levels. The most common Fibonacci ratios I use to forecast retracements are .382, .500 and .618. On occasion, I find .236 and .786 useful, but I prefer to stick with the big three. You can imagine how helpful these can be: Knowing where a corrective move is likely to end often identifies high-probability trade setups (Figures 7-1 and 7-2).

Kennedy then goes on to explain Fibonacci extensions, circles, fans and time,using 11 charts to show what he means. Whether or not you are a math geek, you can learn a lot from this six-page introduction to Fibonacci math.

Get Your Fibonacci Techniques Right Here *. Jeffrey Kennedy has been using and teaching these techniques for years, and he has written a quick description of five Fibonacci techniques in his Trader's Classroom column -- now available to you for freeby signing up as a Club EWI member. Read more about the 6-page report here. *

Elliott Wave International (EWI) is the worlds largest market forecasting firm. EWIs 20-plus analysts provide around-the-clock forecasts of every major market in the world via the internet and proprietary web systems like Reuters and Bloomberg. EWIs educational services include conferences, workshops, webinars, video tapes, special reports, books and one of the internets richest free content programs, Club EWI.

* These links are on an external website. In the new website you are navigating to, the information contained herein is not to be construed as an offer to sell or the solicitation of an offer to buy any commodities described herein. The information contained in this website has been obtained from sources believed to be reliable but is not necessarily all-inclusive and is not guaranteed as to accuracy. The risk of trading futures and options can be substantial and each investor must consider whether this is a suitable investment for him/her. Past performance is not necessarily indicative of future results. Persons acting on any information contained in this website are responsible for their own actions.

3. Economic Calendar

Source: Moore Research Center, Inc.

* 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!