In This Issue
1. Stock Market Turning Points: Has Wall Street Ever Warned You in Time?
2. JUN '12 Australian Dollar Market Report by JS Services
3. Economic Calendar
Featured Articles This Week
a. How to Handle an Economic Implosion
b. Diagonal: Straight Shot to a Trading Opportunity
c. Public Pension Funds: Tens of Billions at Significant Risk
By Elliott Wave International
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- The MKT has a slight negative bias in a difficult "choppy" trade. On the SELL side DP BREAKOUT strategies are valid but should expect a laborious trade. UP and UT1 FADE and REVERSAL strategies are recommended but profit should be taken at initial targets. The probability is to the downside today but is not a day to press it.
- On the BUY side avoid UP BREAKOUT strategies but rather FADE a negative reaction after a positive breakout signal at the DIR. DP REVERSAL strategies are recommended over FADE strategies as "sloppy" trading conditions are expected. Any DP FADE trades should get confirmation before executing. Position management adjustments should be anticipated for all longs as sideways trading conditions can quickly erase profits.
| Previous Day's Data | |||||||
| Daily | High | Low | Close | Change | Trend | MIN | Neutral |
| DAAM2 | 10326 | 10248 | 10263 | INT | Neutral | ||
| DAAU2 | 10212 | 10163 | 10170 | MAJ | Neutral | ||
| Indicators | |
| MAC13D | 10258 |
| MAC26D | 10312 |
| MAC50D | 10418 |
| MAC100D | 10280 |
| MAC200D | 10164 |
| DMI+ 13D | 16 |
| DMI- 13D | 19 |
| ADX 7D | 21 |
| RSI 5D | 45 |
| RSI 13D | 46 |
| ROC 5D | -101.27 |
| ROC 13D | -86.93 |
| MACD 13 | -28.85 |
| MACD 34 | 5.77 |
| SSTOC+ | 40 |
| SSTOC- | 37 |
| DC HIGH | 10459 |
| DC MID | 10285 |
| DC LOW | 10130 |
| MC VALUE | -2 |
| Price Map |
| 10708 *** 4 +c |
| 10641 ** |
| 10574 * |
| 10540 *** 3 |
| 10507 ** |
| 10474 * |
| 10440 *** 2 |
| 10406 * |
| 10380 *** 1 |
| 10349 * |
| 10306 UP |
| 10272 * |
| 10239 R |
| 10206 * |
| 10188 DP |
| 10138 * |
| 10105 *** 1 |
| 10079 * |
| 10050 *** 2 |
| 10004 * |
| 9971 ** |
| 9938 *** 3 |
| 9904 ** |
| 9837 * |
| 9770 *** 4 -c |
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 |
| 04/23 Mon |
||
| 04/24 Tue |
8:00 AM CDT - Case-Shiller 20-City Index(Feb) 9:00 AM CDT - Consumer Confidence(Apr) 9:00 AM CDT - FHFA Housing Price Index(Feb) 9:00 AM CDT - New Home Sales(Mar) | FN: May Cotton(NYM) May Crude Lt(NYM) |
| 04/25 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Durable Orders(Mar) 9:30 AM CDT - API & DOE Energy Stats 11:30 AM CDT - FOMC Rate Decision(Apr) | LT: May Copper Options(CMX) May Gold Options(CMX) May Silver Options(CMX) May Heating Oil Options(NYM) May RBOB Gasoline Options(NYM) May Natural Gas Options(NYM) |
| 04/26 Thu |
7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Pending Home Sales(Mar) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply | LT: Apr Copper(CMX) Apr Gold(CMX) Apr Silver(CMX) Apr Platinum(NYM) Apr Palladium(NYM) Apr Feeder Cattle(CME) May Natural Gas(NYM) Apr Feeder Cattle Options(CME) |
| 04/27 Fri |
7:30 AM CDT - Chain Deflator-Adv(Q1) 7:30 AM CDT - Employment Cost Index(Q1) 7:30 AM CDT - GDP-Adv(Q1) 8:55 AM CDT - Michigan Sentiment-Final(Apr) | FN: May Natural Gas(NYM) |
| 04/30 Mon |
7:30 AM CDT - Personal Income & Spending(Mar) 7:30 AM CDT - PCE Prices-Core(Mar) 8:45 AM CDT - Chicago PMI(Apr) | FN: May Copper,Gold,Silver(CMX) May Platinum,Palladium(NYM) May Corn,Oats(CBT) May Wheat,Rough Rice(CBT) May Soybeans,Soyoil,Soymeal(CBT) LT: Apr Fed Funds(CME) Apr Live Cattle(CME) May Heating Oil(NYM) May RBOB Gasoline(NYM) May Sugar-11(NYM) Apr Fed Funds Option(CME) May Lumber Options(CME) |
| 05/01 Tue |
9:00 AM CDT - Construction Spending(Mar) 9:00 AM CDT - ISM Index(Apr) 1:00 PM CDT - Auto & Truck Sales(Apr) | FN: May Orange Juice(ICE) May Sugar-11(NYM) |
| 05/02 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 7:15 AM CDT - ADP Employment Change(Apr) 7:30 AM CDT - Dairy Products Prices 9:00 AM CDT - Factory Orders(Mar) 9:30 AM CDT - API & DOE Energy Stats | FN: May Heating Oil(NYM) May RBOB Gasoline(NYM) |
| 05/03 Thur |
6:30 AM CDT - Challenger Job Cuts(Apr) 7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Productivity-Prel(Q1) 9:00 AM CDT - ISM Services(Apr) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT- Money Supply | LT: Apr Butter(CME) Apr Milk(CME) Apr Butter Options(CME) Apr Milk Options(CME) |
* 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!