In This Issue
1. 2010 Memorial Day Trading Schedule
2. Live Cattle Futures Suffer Serious Technical Damage
3. Economic Calendar
*All times listed in Central Time
CME Group (Floor)
12:00 pm Close: Foreign Exchange and Interest Rate products
* All other products regular close
NYMEX (Floor)
Regular Close
GLOBEX
3:15 pm Close: Interest Rate, Foreign Exchange, NYMEX/COMEX/DME Products, GCSI and Forestry products
* All other products regular close
ICE
Regular Close
EUREX
Regular close
OneChicago
Regular Close
NYSE
Regular Close
Forex
Regular Close
CME Group (Floor)
Closed
NYMEX (Floor)
Closed
GLOBEX
Regular Open
* Exceptions - Domestic Dairy, Livestock, GSCI, Weather, CBOT/KCBT/MGEX Grains, Ethanol, TRAKRS, Dow UBS ER and ETF products closed
ICE
Regular Open
* Exceptions - Soft and Open outcry products closed
EUREX
Regular Open
* Exceptions - US Equity Derivatives and Hurricane Futures closed
OneChicago
Closed
NYSE
Closed
Forex
Regular Open
CME Group (Floor)
Closed
NYMEX (Floor)
Closed
GLOBEX
Closed: Domestic Dairy, Livestock, GSCI, Weather, CBOT/KCBT/MGEX Grains, Ethanol, TRAKRS, Dow UBS ER and ETF products
10:30 am Close: Equity products
12:00 pm Close: Interest Rate, Financial, Foreign Exchange, Real Estate, Forestry and International Dairy products
12:15 pm Close: NYMEX/COMEX/DME products
*Trading Resumes at the times listed below*
5:00 pm Open: Equity, Interest Rate, Foreign Exchange, Dairy, Livestock, GSCI, Weather, Real Estate, Forestry, NYMEX/COMEX/DME products
5:30 pm Open: Financial products
6:00 pm Open: CBOT/KCBT/MGEX Grain and Ethanol products
ICE
Closed: Softs and Open outcry products
10:30 am Close: Index products
12:00 pm Close: Financial products
EUREX
Closed: US Equity Derivatives (No cash payment in USD) and Hurricane Futures
*All other products regular close
OneChicago
Closed
NYSE
Closed
Forex
Regular Close
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 customer service.
For more information, see the CME's Memorial Day trading schedule.
by Jim Wyckoff
August live cattle futures on the Chicago Mercantile Exchange on Tuesday gapped lower on the daily bar chart and hit a fresh nearly three-month low of $88.90. Prices are also in a steep two-week-old downtrend on the daily chart as serious near-term technical damage has been inflicted to suggest a near-term market top is in place. The next downside technical price objective for the empowered cattle market bears is to produce a close below strong chart support at $88.25. Above that key chart point does lie technical support at $89.50, $89.00, at this week's low of $88.90 and then at $88.50. For the cattle market bulls to regain fresh upside near-term technical momentum they will have to push and close August futures prices above strong chart resistance at $91.00. Below that key near-term technical level is located chart resistance at $90.00, at $90.12 and then at $90.50. Stay tuned! Jim Wyckoff
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 |
| 05/26 Wed |
7:30 AM CDT - Durable Orders(Apr)
9:00 AM CDT - New Home Sales(Apr) 9:30 AM CDT - API & DOE Energy Stats |
LT: May Copper(CMX)
May Gold(CMX) May Silver(CMX) May Platinum(CMX) May Palladium(CMX) Jun Natural Gas(NYM) |
| 05/27 Thu |
7:00 AM CDT - Census Crush
7:00 AM CDT - Contton Consumption 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - GDP & GDP Deflator 2nd Estimate(Q1) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
FN: Jun Natural Gas(NYM)
LT: May Feeder Cattle(CME) May Feeder Cattle Options(CME) |
| 05/28 Fri |
7:30 AM CDT - Dairy Products Prices
7:30 AM CDT - Personal Income & Spending(Apr) 7:30 AM CDT - PCE Prices-Core(Apr) 8:45 AM CDT - Chicago PMI(May) 8:55 AM CDT - U Michigan Consumer Sentiment(May) |
FN: Jun 2,3,5,10 Year Notes(CBT)
Jun Bonds(CBT) Jun Copper(CMX) Jun Gold(CMX) Jun Silver(CMX) Jun Platinum(CMX) Jun Palladium(CMX) LT: May Fed Funds(CBT) Jun Heating Oil(NYM) Jun RBOB Gasoline(NYM) May Fed Funds Options(CBT) Jun Lumber Options(CME) |
| 05/31 Mon |
MEMORIAL DAY HOLIDAY
|
|
| 06/01 Tue |
9:00 AM CDT - Construction Spending(Apr)
9:00 AM CDT - ISM Index(May) |
|
| 06/02 Wed |
9:00 AM CDT - Pending Home Sales(Apr)
9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - Auto & Truck Sales(May) |
FN: Jun Heating Oil(NYM)
Jun RBOB Gasoline(NYM) |
| 06/03 Thu |
7:15 AM CDT - ADP Employment Change(May)
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Productivity-Rev(Q1) 7:30 AM CDT - Unit Labor Costs(Q1) 9:00 AM CDT - Factory Orders(Apr) 9:00 AM CDT - ISM Services(May) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: May Milk(CME)
May Milk Options(CME) |
| 06/04 Fri |
7:30 AM CDT - Dairy Products Prices
7:30 AM CDT - Ave Workweek & Hourly Earnings(May) 7:30 AM CDT - Nonfarm Payrolls 7:30 AM CDT - Unemployment Rate(May) |
LT: Jun Canadian Dollar Options(CME)
Jun Currencies Options(CME) Jun US Dollar Index Options(ICE) Jun Live Cattle Options(CME) Jul Cocoa Options(ICE) |
| 06/07 Mon |
8:15 AM CDT - Capacity Util & Industrial Prod(May)
2:00 PM CDT - Consumer Credit(Apr) |
FN: Jun Live Cattle(CME)
|
| 06/08 Tue |
|
|
| FN=First Notice, OE=Option Expiration, LT=Last Trade | ||
* 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!