In This Issue
Cannon Daily Futures Trading Blog
Japanese Yen Bulls Gain Some Upside Momentum
Economic Calendar
S&P 500 Futures Outlook, Commodities Support & Resistance Levels, & Economic Calendars
( Daily Commodity and Futures Market Update from Ilan Levy-Mayer - VP of Cannon Trading)
In addition to the weekly newsletter you are currently viewing Cannon Trading provides a daily futures trading blog. This daily blog provides market outlook for different commodities and futures markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily blog will include educational information about different aspects of commodity and futures trading.
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by JS Services
DEC '10 Japanese Yen ** BULL TREND **
- The MKT has just produced a big positive technical signal. On the SELL side DP BREAKOUT strategies are a low probability but valid. Risk little and go for a lot. If the MKT is going to turn sour, it should be quick and relentless. Avoid UP FADE strategies as the MKT has just produced a major buy signal and fresh gains are expected. UP REVERSAL strategies as well are not recommended, as any resistance level violation that cannot be held is more likely a squeeze for the longs, which can quickly turn positive.
- On the BUY side BREAKOUT, FADE and REVERSAL are recommended as the MKT is aggressively bid and all buy signals are valid opportunity. If stopped out at or near the low tic of a reaction and the MKT is not following through to the downside, leverage up using the squeeze low as a stop, expecting a quick reaction back above your original entry. De-leverage unless you have confluence with other indicators or like MKTs.
Daily | High | Low | Close | Change | Trend | MIN - UP | 12123 |
JYAZ0 | 12331 | 12212 | 12280 |
|
| INT - UP | 11964 |
JYAH1 | 12334 | 12244 | 12296 |
|
| MAJ - UP | 11685 |
Click the image to enlarge
Disclaimer:
Trading commodity futures and options involves substantial risk of loss. The recommendations 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 futures 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!
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 10/20 Wed |
6:00 AM CDT - MBA Mortgage Applications 9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - Fed's Beige Book(Oct) |
LT: Oct Butter(CME) Nov Crude Lt(NYM) Nov Platinum Options(NYM) |
| 10/21 Thu |
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - USDA Weekly Export Sales 9:00 AM CDT - Leading Indicators(Sep) 9:00 AM CDT - Philadelphia Fed(Oct) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
|
| 10/22 Fri |
7:30 AM CDT - Dairy Products Prices 2:00 PM CDT - Cattle On Feed 2:00 PM CDT - Cold Storage |
FN: Nov Crude Lt(NYM) LT: Nov 2,3,5,10 Yr Notes Options(CBT) Nov Bonds Options(CBT) Nov Corn Options(CBT) Nov Oats Options(CBT) Nov Rough Rice Options(CBT) Nov Soybeans Options(CBT) Nov Soyoil Options(CBT) Nov Soymeal Options(CBT) Nov Wheat Options(CBT) |
| 10/25 Mon |
9:00 AM CDT - Existing Home Sales(Sep) | |
| 10/26 Tue |
8:00 AM CDT - Case-Shiller 20-City Index(Aug) 9:00 AM CDT - Consumer Confidence(Oct) 9:00 AM CDT - FHFA Home Price Index(Aug) |
LT: Nov Copper Options(CMX) Nov Gold Options(CMX) Nov Silver Options(CMX) Nov Heating Oil Options(NYM) Nov RBOB Gasoline Options(NYM) Nov Natural Gas Options(NYM) |
| 10/27 Wed |
6:00 AM CDT - MBA Mortgage Applications 7:30 AM CDT - Durable Orders(Sep) 9:00 AM CDT - New Home Sales(Sep) 9:30 AM CDT - API & DOE Energy Stats |
LT: Oct Copper(CMX) Oct Gold(CMX) Oct Silver(CMX) Oct Platinum(CMX) Oct Palladium(CMX) Nov Natural Gas(NYM) |
| 10/28 Thu |
7:00 AM CDT - Census Crush 7:00 AM CDT - Cotton Consumption 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - USDA Weekly Export Sales 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
FN: Nov Natural Gas(NYM) LT: Oct Feeder Cattle(CME) Oct Feeder Cattle Options(CME) |
| 10/29 Fri |
7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Chain Deflator-Adv(Q3) 7:30 AM CDT - Employment Cost Index(Q3) 7:30 AM CDT - GDP-Adv(Q3) 8:45 AM CDT - Chicago PMI(Oct) 8:55 AM CDT - Michigan Sentiment-Final(Oct) |
FN: Nov Copper(CMX) Nov Gold(CMX) Nov Silver(CMX) Nov Platinum(CMX) Nov Palladium(CMX) Nov Rough Rice(CBT) Nov Soybeans(CBT) LT: Oct Fed Funds(CME) Oct Live Cattle(CME) Nov Heating Oil(NYM) Nov RBOB Gasoline(NYM) Oct Fed Funds Options(CME) |
| 11/01 Mon |
7:30 AM CDT - Personal Income & Spending(Sep) 9:00 AM CDT - Construction Spending(Sep) 9:00 AM CDT - ISM Index(Oct) |
FN: Nov Orange Juice(ICE) |
| 11/02 Tue |
FOMC Meeting | FN: Nov Heating Oil(NYM) Nov RBOB Gasoline(NYM) |
* 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!