May 24, 2013 - Issue #687

In This Issue

1. Memorial Day Trading Schedule
2. Hot Market Review - Soybean Bulls Gain Solid Upside Technical Momentum
3. Economic Calendar

Memorial Day Holiday Schedule for CME / Globex and ICE Exchanges

All times listed as Central Time

Friday, May 24

• CME & CBOT Equity Products

4:15 P.M. – regular close

• ICE Equity Products

Russell Index contracts: 4:15 P.M. Central Time – early close

• CME & CBOT Interest Rate & FX Products

3:15 P.M. Central Time – early close

• CBOT, KCBT Grain & Agricultural Products

Regular close – per each product schedule

Note: Grain pre-opening between 2:30 P.M. – 4:00 P.M.

• Other CME Group Products

Regular Close per each product schedule for:

Livestock, Weather, Real Estate, Lumber, Dairy

• ICE Softs, Cash-Settled Grains

Regular Close per each product

• ICE USDX and Forex

2:15 P.M. – early close

Sunday, May 26

• CME & CBOT Equity Products

5:00 P.M. – regular open for trade date Tuesday, May 28*

• CME & CBOT Interest Rate & FX Products

5:00 P.M. – regular open for trade date Tuesday, May 28*

• CBOT, KCBT Grain & Agricultural Products

4:00 P.M. Grain markets pre-open for trade date Tuesday, May 28

• Other CME Group Products

5:00 P.M – Regular open for trade date Tuesday, May 28*

Exceptions: Dairy, Weather products will remain closed until 5:00 P.M. on Monday; Lumber will remain closed until its scheduled opening 9:00 A.M. on Tuesday; Livestock will remain closed until its scheduled opening 9:05 A.M. on Tuesday

More details at: http://www.cmegroup.com/tools-information/holiday-calendar/files/2013-memorial-day.pdf

Monday, May 27

• CME & CBOT Equity Products

10:30 A.M. – Trading halt (order entry, modification and cancellation allowed)

5:00 P.M.: Halted products resume trading

• CME & CBOT Interest Rate & FX Products

12:00 P.M. – Trading halt (order entry, modification and cancellation allowed)

5:00 P.M. – Halted products resume trading

• NYMEX & COMEX Products

12:15 P.M. – trading halt (order entry, modification and cancellation allowed)

5:00 P.M. – Halted products resume trading

• CBOT, KCBT Grain & Agricultural Products

7:00 P.M. – Grain markets open for trade date Tuesday, May 28

• ICE Softs, Cash-Settled Grains

CLOSED

• ICE FOREX, USDX

Early close at 12:00 P.M.

• Russell INDEX

Early close 10:30 A.M.

More details at: https://www.theice.com/marketdata/Calendar.shtml?calendars=Holiday&expirationEnabled=false&calendars=SpecialTradingHours

The above sources were compiled from sources believed to be reliable.  Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

Dear Clients, Prospects and Newsletter Readers - We hope you enjoy and appreciate the information we share with you on our weekly newsletter as well as our daily blog. We try our best to provide what we feel is useful and educational information along with market news and updates. You can also follow some of our educational updates on the following:

2. Hot Market Review - Soybean Bulls Gain Solid Upside Technical Momentum

From our friend Jim Wyckoff

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 www.jimwyckoff.com click on image below to enlarge

July soybean futures on Thursday surged to a fresh eight-month high and also pushed above major psychological resistance at $15.00 a bushel. The bulls have gained solid upside near-term technical momentum recently. A steep uptrend is in place on the daily bar chart. Fundamentally, very tight U.S. cash soybean stockpiles and good foreign demand for U.S. beans is bullish.

3. Economic Calendar

Source: Moore Research Center, Inc.

* 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.