In This Issue
1. How to Identify and Use Support and Resistance Levels
2. Happy Holidays! Holiday Trading Hours/Schedule
3. Economic Calendar
Featured Articles This Week
a. Featured Above: How to Identify and Use Support and Resistance Levels
b. The Light Bulb Moment for the Eurozone
c. "Market Manipulation" Is Not Why Most Traders Lose
d. Learn Elliott Wave Analysis -- Free
e. European Union Agreement: Good or Bad for the Dow Industrials?
Congestion, Highs, Lows and Gaps, and more...
Since 1999, Elliott Wave International senior analyst and trading instructor Jeffrey Kennedy has produced dozens of Trader's Classroom lessons exclusively for his subscribers. While commodity markets are known as some of the toughest trading environments around, these actionable lessons from a skilled veteran can help you trade commodities, or any market for that matter, with more confidence.
As the holiday season approaches, we'd like to take this opportunity to thank all of you for making 2011 one of the best years yet.
May your holiday season and the new year be filled with much joy, happiness and success. We look forward to working with you in the coming year!
You can find the holiday trading schedule and futures trading hours for the CME, NYMEX, GLOBEX, EUREX, Nadex, OneChicago, NYSE, and Forex for Dec 23, 25, 26 and 27 on our website:
Christmas 2011 Holiday Futures Trading Hours/Schedule
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 12/22 Thu |
7:00 AM CST - Cotton Consumption 7:00 AM CST - Census Crush 7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - GDP & GDP-Deflator Third Estimate(Q3) 8:55 AM CST - Michigan Sentiment-Final(Dec) 9:00 AM CST - FHFA Housing Price Index(Oct) 9:00 AM CST - Leading Indicators(Nov) 9:30 AM CST - EIA Gas Storage 2:00 PM CST - Cold Storage 3:30 PM CST - Money Supply | FN: Jan Crude Lt(NYM) |
| 12/23 Fri |
7:30 AM CST - Dairy Products Prices 7:30 AM CST - Durable Orders(Nov) 7:30 AM CST - PCE Prices-Core(Nov) 7:30 AM CST - Personal Income & Spending(Nov) 9:00 AM CST - New Home Sales(Nov) 2:00 PM CST - Quarterly Hogs & Pigs | LT: Jan 2,5,10 Year Notes Options(CBT) Jan Bonds Options(CBT) Jan Corn Options(CBT) Jan Oats Options(CBT) Jan Rough Rice Options(CBT) Jan Soybeans Options(CBT) Jan Soymeal Options(CBT) Jan Soyoil Options(CBT) Jan Wheat Options(CBT) |
| 12/26 Mon |
||
| 12/27 Tue |
8:00 AM CST - Case-Shiller 20-City Index(Oct) 9:00 AM CST - Consumer Confidence(Dec) | LT: Jan Copper Options(CMX) Jan Gold Options(CMX) Jan Silver Options(CMX) Jan Heating Oil Options(NYM) Jan RBOB Gasoline Options(NYM) Jan Natural Gas Options(NYM) |
| 12/28 Wed |
6:00 AM CST - MBA Mortgage Purchase Index | LT: Dec Copper(CMX) Dec Gold(CMX) Dec Silver(CMX) Dec Platinum(CMX) Dec Palladium(CMX) Jan Natural Gas(NYM) |
| 12/29 Thu |
7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Pending Home Sales(Nov) 9:30 AM CST - EIA Gas Storage 10:00 AM CST - API & DOE Energy Stats 3:30 PM CST - Money Supply | FN: Jan Natural Gas(NYM) LT: Dec Milk(CME) Dec Milk Options(CME) |
| 12/30 Fri |
7:30 AM CST - Dairy Products Prices 7:30 AM CST - USDA Weekly Export Sales 8:45 AM CST - Chicago PMI(Dec) | FN: Jan Copper(CMX) Jan Gold(CMX) Jan Silver(CMX) Jan Platinum(CMX) Jan Palladium(CMX) Jan Rough Rice(CBT) Jan Soybeans,Soymeal,Soyoil(CBT) LT: Dec 2,3,5 Year Notes(CBT) Dec Fed Funds(CME) Dec Live Cattle(CME) Jan Heating Oil(NYM) Jan RBOB Gasoline(NYM) Dec Fed Funds Options(CME) Jan Lumber Options(CME) |
| 1/02 Mon |
||
| 1/03 Tue |
9:00 AM CST - ISM Index(Dec) 9:00 AM CST - Construction Spending(Nov) 1:00 PM CST - FOMC Minutes | |
| 1/04 Wed |
6:00 AM CST - MBA Mortgage Purchase Index 9:00 AM CST - Factory Orders(Nov) 1:00 PM CST - Auto & Truck Sales(Dec) | FN: Jan Heating Oil(NYM) Jan 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!