1. Trader's Corner - September is now front month for most active futures contracts.

Here is a list of the most active/ front month for popular futures contracts:

Stock Index Futures ( ES, YM, NQ, TF) front month is September. Symbol is U. Example ESU3.

Currency Futures ( 6E, 6J, 6C, 6A, DX etc.) front month is September. Symbol is U. Example 6EU3.

Interest rate Futures ( ZB, ZN, ZF etc. ) front month is September. Symbol is U. Example ZBU3.

Crude Oil front month is July until . CLN3
Natural Gas front month is July. NGN3
Gold futures front month is August. GCQ3
Silver futures front month is July. SIN3
Soybean futures front month is November. ZSX3
Wheat, Corn, Soymeal and Bean oil are still trading July for "old crop" and December is active for "new crop"

If you have any questions about other markets, please contact your broker directly or inquire by filling out the form below.

If you have any questions about other markets, please contact your broker directly or inquire by filling out the form below.

Cannon Trading respects your privacy and will never give this information to a 3rd party.

2. Hot Market Review - Nikkei Meltdown?

From our friend Jim Wyckoff

If you like this Newsletter, Please share!

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

Japan's Nikkei stock index is in bear territory after dropping 6% on Thursday and is now down over 20% from last month's high. The world market place continues to fret about the major central banks of the world taking away the easy-money punch bowl from the party. This week has seen heightened risk aversion in the worldwide market place. Worrisome to traders and investors worldwide is not only the steep stock market declines in Asia, but also the sell-off in many periphery currencies in the foreign exchange market this week, along with recently rising government bond yields worldwide. Savvy traders and investors are now seriously worried that the bear market in Japan's equities will soon spill over into the same for the U.S. stock market.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date	Reports	Expiration & Notice Dates
06/17 Mon	7:30 AM CDT - Empire Manufacturing(Jun) 8:00 AM CDT - Net Long-Term TIC Flows(Apr) 9:00 AM CDT - NAHB Housing Market Index(Jun) 11:00 AM CDT - NOPA Crush	FN: Jul Cocoa(ICE) LT: Jun Currencies(CME) Jun Eurodollar(CME) Jun US Dollar Index(ICE) Jun Eurodollar Options(CME) Jul Crude Lt Options(NYM) Jul Sugar-11 Options(NYM)
06/18 Tues	7:30 AM CDT - Building Permits & Housing Starts(May) 7:30 AM CDT - Core CPI & CPI(May)	FN: Jun US Dollar Index(ICE) LT: Jun Canadian Dollar(CME)
06/19 Wed	6:00 AM CDT - MBA Mortgage Purchase Index 9:30 AM CDT - API & DOE Energy Stats 11:30 AM CDT - FOMC Rate Decision(Jun) 2:00 PM CDT - Milk Production 3:00 PM CDT - Dairy Products Sales	LT: Jun 10 Year Notes(CBT) Jun Bonds(CBT) Jul Platinum Options(NYM) Jul Palladium Options(NYM)
06/20 Thurs	7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Existing Home Sales(May) 9:00 AM CDT - Leading Indicators(May) 9:00 AM CDT - Philadelphia Fed(Jun) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply	FN: Jul Coffee(ICE) LT: Jun NASDAQ(CME) Jun S&P 500(CME) Jul Crude Lt(NYM) Jun NASDAQ Options(CME) Jun S&P 500 Options(CME)
06/21 Fri	2:00 PM CDT - Cattle On Feed 2:00 PM CDT - Cold Storage	LT: Jun DJIA(CME) Jun E-Mini NASDAQ(CME) Jun E-Mini S&P 500(CME) Jun Russell(CME) Jun DJIA Options(CME) Jun E-Mini NASDAQ Options(CME) Jun E-Mini S&P 500 Options(CME) Jun Russell Options(CME) Jul 2,5,10 Year Notes Options(CBT) Jul Bonds Options(CBT) Jul Wheat,Corn,Oats Options(CBT) Jul Rough Rice Options(CBT) Jul Soybeans,Soymeal,Soyoil Options(CBT) Jul Orange Juice Options(ICE)
06/24 Mon		FN: Jul Cotton(NYM) Jul Crude Lt(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.