In This Issue
1. Trade Smart, Trade Systems
2. Crude Oil Market Rebounds This Week; Market Bottom in Place??
3. Economic Calendar
Check out Daily results, scan through different trading systems rankings and actual performance
and much more!Check out Daily results
, scan through different trading systems rankings and actual performance and much more!From our friend Jim Wyckoff at JimWyckoff.com
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The Nymex crude oil market this week has made a good rebound from the recent contract and 12-year low. However, prices will have to push above solid technical resistance the last "reaction high" of $34.82 to negate the downtrend on the daily chart, to better suggest a market bottom is in place. It is my bias the oil market has put in a market bottom, or is very close to it.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 02/22 Mon |
WASHINGTON'S BIRTHDAY |
LT: Mar Crude Lt(NYM) |
| 02/23 Tues |
8:00 AM CST - Case-Shiller 20-City Index(Dec) 9:00 AM CST - Consumer Confidence(Feb) 9:00 AM CST - Existing Home Sales(Jan) 2:00 PM CST - Cold Storage & Annua |
FN: Mar Cotton(NYM) |
| 02/24 Wed |
6:00 AM CST - MBA Mortgage Purchase Index
9:00 AM CST - New Home Sales(Jan) 9:30 AM CST - API & DOE Energy Stats 2:00 PM CST - Dairy Products Sales |
FN: Mar Crude Lt(NYM)
LT: Mar Copper Options(CMX) Mar Gold Options(CMX) Mar Silver Options(CMX) Mar Natural Gas Options(NYM) Mar RBOB & ULSD Options(NYM) |
| 02/25 Thurs |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Durable Orders(Jan) 7:30 AM CST - Durable Goods-Ex Transportation(Jan) 8:00 AM CST - FHFA Housing Price Index(Dec) 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply |
LT: Feb Copper(CMX)
Feb Gold(CMX) Feb Silver(CMX) Feb Platinum(NYM) Feb Palladium(NYM) Mar Natural Gas(NYM) |
| 02/26 Fri |
7:30 AM CST - GDP-Second Estimate(Q4)
7:30 AM CST - GDP Deflator-Second Estimate(Q4) 7:30 AM CST - PCE Prices(Jan) 7:30 AM CST - Personal Income & Spending(Jan) 9:00 AM CST - Michigan Sentiment-Final(Feb) |
FN: Mar Natural Gas(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!