In This Issue
1. Advanced charting package now available FREE* for client
2. Hot Market - May Nymex Crude Oil
3. Economic Calendar
Featured Articles This Week
a. What All Major Depressions Have in Common
b. The Three Phases of a Trader's Education
c. Do Low Interest Rates Power Stocks Higher?
Also available to nonclients as a trial
Quick note about one of the charting packages we offer which is free to clients who trade with transactAT as long as they trade minimum of 10 contracts per month. This Sierra Charts Charting Package can be used in conjunction with most of our clearing firms and is full of features and studies. The more I use it, the more I am impressed. There are many different studies to choose and explore at no extra charge.
Below you will see two samples of charts taken from Sierra Charts, one is an intra day gold chart and the other is a crude oil daily chart.
If you would like a FREE no obligation trial and have not had one before, please click here. You will then be able to download our AT (Active trader) platform and when you install make sure to click "yes" to installing charts. Once you log in to the platform, the charts will open automatically.
You can explore some video tutorials and help guides on the charts here.
Intraday Gold Chart from March 28, 2012
Daily Crude Oil Chart from March 28, 2012
* Advanced charts are available to clients who trade with our TransactAT platform and opt in for the sierra charts ( AT charts). Charts are free for clients who trade more than 10 contracts per month, otherwise the price is $15.95
Crude Oil Bulls Fade as Prices Hit 6-Week Low
Nymex crude oil prices have been trading in a choppy and sideways-to-lower range on the daily chart for the past month. Prices Thursday hit a fresh six-week low. Crude futures prices are in a four-week-old downtrend on the daily bar chart. May crude oil futures hit a 10-month high of $110.95 a barrel on March 1 and have traded sideways to lower in choppy action on the charts ever since. It will take multiple daily closes in nearby crude oil futures above technical resistance at $110.00 to provide the Nymex crude oil bulls with fresh upside near-term technical momentum to then suggest a fresh trend higher in prices. Otherwise, look for Nymex crude to trade in a choppy and sideways range between $100.00 and $110.00 for at least the coming weeks, if not longer.
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 |
| 3/30 Fri |
7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Grain Stocks 7:30 AM CDT - Prospective Plantings 7:30 AM CDT - Personal Income & Spending(Feb) 7:30 AM CDT - PCE Prices-Core(Feb) 8:45 AM CDT - Chicago PMI(Mar) 8:55 AM CDT - Michigan Sentiment-Final(Mar) 2:00 PM CDT - Quarterly Hogs & Pigs | FN: Apr Copper(CMX) Apr Gold(CMX) Apr Silver(CMX) Apr Platinum(NYM) Apr Palladium(NYM) LT: Mar 2,3,5 Year Notes(CBT) Mar Fed Funds(CME) Apr Heating Oil(NYM) Apr RBOB Gasoline(NYM) Mar Fed Funds Options(CME) Apr Lumber Options(CME) |
| 04/02 Mon |
9:00 AM CDT - Construction Spending(Feb) 9:00 AM CDT - ISM Index(Mar) | |
| 04/03 Tue |
9:00 AM CDT - Factory Orders(Feb) 1:00 PM CDT - Auto & Truck Sales(Mar) 1:00 PM CDT - FOMC Minutes | FN: Apr Heating Oil(NYM) Apr RBOB Gasoline(NYM) |
| 04/04 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 7:15 AM CDT - ADP Employment Change(Mar) 7:30 AM CDT - Dairy Products Prices 9:00 AM CDT - ISM Services(Mar) 9:30 AM CDT - API & DOE Energy Stats | |
| 04/05 Thu |
6:30 AM CDT - Challenger Job Cuts(Mar) 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply | LT: Apr Canadian Dollar Options(CME) Apr Currencies Options(CME) Apr Live Cattle Options(CME) Apr US Dollar Index Options(I |
| 04/06 Fri |
GOOD FRIDAY 7:30 AM CDT - Ave Workweek & Hourly Earnings(Mar) 7:30 AM CDT - Nonfarm Payrolls(Mar) 7:30 AM CDT - Unemployment Rate(Mar) 2:00 PM CDT - Consumer Credit(Feb) | |
| 04/09 Mon |
FN: Apr Live Cattle(CME) | |
| 04/10 Tue |
7:30 AM CDT - WASDE Report & Crop Production 9:00 AM CDT - Wholesale Inventories(Feb) | |
| 04/11 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Export & Import Prices(Mar) 9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - Fed's Beige Book(Apr) 1:00 PM CDT - Treasury Budget(Mar) | |
| 04/12 Thu |
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - PPI & Core PPI(Mar) 7:30 AM CDT - Trade Balance(Feb) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
* 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!