In This Issue
1. September to December Rollover Notice
2. Live Cattle Futures Suffer Near-Term Technical Damage
3. Economic Calendar
Please note that Equity Indices products; TF, ES, NQ, EMD and YM roll on Thursday the 9th at 8:30 am Chicago time from the September 2010 contract to the December 2010 contract. The month code for December is 'Z'.
It is recommended that all new positions be placed in the December contract as of Thursday's trade date.
Please close any open September Currencies positions by the close on Friday the 10th.
Should you have any further questions please contact your broker.
by Jim Wyckoff
Disclaimer: 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.
October live cattle futures on the Chicago Mercantile Exchange on Tuesday suffered sharp losses and hit a fresh three-week low of $96.30 a hundredweight. Near-term technical damage was inflicted Tuesday, as a 3-month-old price uptrend on the daily bar chart was negated. The cattle market bulls have faded but they do still have the overall near-term technical advantage. However, they need to show fresh power soon to keep it. The next downside price objective for the cattle market bears is pushing and closing October futures prices below solid chart support at $95.00. Near-term chart support for October live cattle futures is located at Tuesday's low of $96.30, at $96.00 and then at $95.50. The cattle market bulls would regain some fresh upside technical momentum by pushing and closing October futures prices above chart resistance at Tuesday's high of $98.55. Below that level is located near-term technical resistance at $97.50, $97.65, $98.00 and then at $98.30. Stay tuned! Jim Wyckoff
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 09/08 Wed |
1:00 PM CDT - Fed's Beige Book(Sep) 2:00 PM CDT - Consumer Credit(Jul) |
|
| 09/09 Thu |
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Trade Balance(Jul) 9:30 AM CDT - API & DOE Energy Stats |
|
| 09/10 Fri |
7:30 AM CDT - WASDE Report & Crop Production 7:30 AM CDT - Supply & Demand 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Dairy Products Prices 9:00 AM CDT - Wholesale Inventories(Jul) 9:30 AM CDT - EIA Gas Storage |
LT: Oct Cotton Options(NYM) Oct Coffee Options(ICE) |
| 09/13 Mon |
1:00 PM CDT - Treasury Budget(Aug) | LT: Sep Currencies(CME) Sep US Dollar Index(ICE) |
| 09/14 Tue |
7:30 AM CDT - NOPA Crush 7:30 AM CDT - Retail Sales(Aug) 9:00 AM CDT - Business Inventories(Jul) |
FN: Sep US Dollar Index(ICE) LT: Sep Canadian Dollar(CME) Sep Corn(CBT) Sep Oats(CBT) Sep Rough Rice(CBT) Sep Soybeans(CBT) Sep Soyoil(CBT) Sep Soymeal(CBT) Sep Wheat(CBT) |
| 09/15 Wed |
7:30 AM CDT - Export & Import Prices(Aug) 7:30 AM CDT - NY Fed-Empire Manufacturing Survey(Sep) 8:15 AM CDT - Industrial Prod & Capacity Util(Aug) 9:30 AM CDT - API & DOE Energy Stats |
|
| 09/16 Thu |
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Core PPI & PPI(Aug) 7:30 AM CDT - Current Account(Q2) 8:00 AM CDT - Net Long-Term TIC Flows(Jun) 9:00 AM CDT - Philadelphia Fed(Sep) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
FN: Sep Lumber(CME) LT: Sep NASDAQ(CME) Sep S&P 500(CME) Sep Value Line(CME) Sep NASDAQ Options(CME) Sep S&P 500 Options(CME) Sep Value Line Options(CME) Oct Crude Lt Options(NYM) |
| 09/17 Fri |
7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Core CPI & CPI(Aug) 8:55 AM CDT - Mich Sentiment(Sep) 2:00 PM CDT - Cattle On Feed 2:00 PM CDT - Milk Production |
LT: Sep DJIA(CME) Sep E-Mini S&P 500(CME) Sep E-Mini NASDAQ(CME) Sep Russell(CME) Sep DJIA Options(CME) Sep E-Mini S&P 500 Options(CME) Sep E-Mini NASDAQ Options(CME) Sep Russell Options(CME) Oct Orange Juice Options(ICE) |
| 09/20 Mon |
LT: Sep Coffee(ICE) | |
| 09/21 Tue |
7:30 AM CDT - Housing Starts & Building Permits(Aug) FOMC MEETING |
LT: Sep 10 Yr Notes(CBT) Sep Bonds(CBT) Sep Butter(CME) Oct Crude Lt(NYM) |
| 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!