April 12th, 2019 - Issue #961

In This Issue

1. Trading 101: The Path to Emotional Control
2. Hot Market Report: Mini SP 500 Review
3. Economic Calendar

Next Friday is Good Friday. Markets will have modified trading hours and most are closed Friday, April 19th.

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1. Trading 101: The Path to Emotional Control

Source: Mind Muscles for Traders

By Rich Friesen

Traders have a major problem. After over two decades of trading on the floors in Chicago and San Francisco, building my own options and equity trading firm, training traders to trade my own capital, coaching traders, building trading courses, and facilitating online mastermind groups, it has become obvious that most traders have a major problem.

The path to trading mastery is often sabotaged by subconscious emotions we bring to the market. I have seen the subconscious emotions and desires cost big money, not only for myself, but the traders in my own firm. That doesn’t even start to add up the millions lost by other floor traders whose emotional biases have limited their own profits.

As I work with independent traders, I see these “Mind Traps” preventing smart, experienced, and determined traders sabotaged by what they don’t know. And by that I mean what they don’t know about the subconscious emotional patterns in their brains that are preventing them from getting the success they want.

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2. Hot Market Report: Mini SP 500 folow up report from March 15th

By Joe Easton, Senior Broker

Click on image below to enlarge

ES futures; This week’s highlighted Market is mini SP 500 futures.Part of the stock index family that includes mini NASDAQ 100, mini Russell, mini Dow, Mid cap, Nikkei and a few more. Most traded on the CME/CBOT/GLOBEX exchanges.

On the March 15th Newsletter we highlighted the ES market. Since then June E-Mini S&P has been in a solid uptrend. That week we closed over the 2824 resistance and after a small retracement has been up about 70 points, plus or minus $3500 per contract over the past three weeks. We are now approaching a new level of resistance around 2907-2917. If we cannot close this week or next above this level there could be reason for some long profit taking. If we do close over this level we can put our sights on the all time highs 2947.


ES is probably the most popular market for day traders. LARGE volume, liquidity and good ranges as well as being the first electronic Mini Stock Index contract in the US back in 1997, make the ES "the king for day-trading". One thing to understand is that the aggressive day-trading margins most firms, including Cannon, offer for markets such as the NQ and ES can be a double edge sword. With $500 day-trading margins, you as a trader control LARGE amounts of money and that can translate to large fast losses or gains in volatile manner. I urge you to create a self imposed margin that is higher. Be aware, be careful.
This chart was prepared using E-Futures Int'l software, which you can demo for 28 days with realtime data.

To access a free trial to the ALGOS shown in the chart ( DIAMONDS included) along with other tools, visit and sign up for a free trial for 21 days with real-time data.

Mini SP500 Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $6600 initial, 6000 Maint. ( as of the date of this newsletter)
Point Value: full point = $50 ( Example: 2819.00 to 2820.00 ). Min fluctuation is 0.25 = $12.50 ( Example: 2819.00 to 2819.25) Settlement: Cash on the open of the third Friday of each QUARTER ( June, Sep, Dec, March )
Months: Quarterly cycle, June, Sep, Dec, March. M,U,Z,H
Weekly Options:YES
Mini SP 500 is one of my favorite markets for Day Trading because of the intraday range and movements. Be careful, these factors can work against you or in your favor.
Some of the basic fundamentals to keep in mind when you are considering trading the NQ or other indices for this matter:
1. Longer term view of current market prices
2. Dates and times of important reports. CPI, Housing, employment, FOMC are just some of the reports you need to watch for
3. Earning reports
4. U.S. Fiscal and Monetary Stability

Our brokers here at Cannon will be happy to chat about the MINI SP500 market, other indices, other futures, options, futures spreads and much more! Feel free to contact us at any time.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
04/11
Thu		 7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Core PPI & PPI(Mar)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
 
 
 
 
04/12
Fri		 7:30 AM CDT - Export & Import Prices(Mar)
7:30 AM CDT - Export(ex-ag) & Import(ex-oil)Prices(Mar)
9:00 AM CDT - Univ of Mich Consumer Sent-Prelim(Apr)
  		LT: Apr Lean Hogs(CME)
Apr Lean Hogs Options(CME)
Apr Eurodollar Options(CME)
May Cotton Options(NYM)
May Coffee Options(ICE)

04/15
Mon		 7:30 AM CDT - Empire State Manufacturing(Apr)
11:00 AM CDT - NOPA Crush
3:00 PM CDT - Net Long-Term TIC Flows(Feb)
  		LT: Apr Eurodollar(CME)
Apr Mx Peso(CME)
May Sugar-11 Options(ICE)
04/16
Tue		 7:30 AM CDT - Retail Sales(Mar)
7:30 AM CDT - Retail Sales Ex-Auto(Mar)
8:15 AM CDT - Capacity Util & Industrial Prod(Mar)
9:00 AM CDT - Business Inventories(Feb)
3:30 PM CDT - API Energy Stocks 		FN: May Cocoa(ICE)
LT: May Crude Lt Options(NYM)
 
 
04/17
Wed		 6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Building Permits & Housing Starts(Mar)
9:30 AM CDT - EIA Petroleum Status Report
1:00 PM CDT - Fed's Beige Book(Apr)
2:00 PM CDT - Dairy Products Sales 		LT: May Platinum Options(NYM)
May Palladium Options(NYM)

 
04/18
Thu		 7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Philadelphia Fed Index(Apr)
9:00 AM CDT - Leading Indicators(Mar)
9:30 AM CDT - EIA Natural Gas Report
11:00 AM CDT - Cattle On Feed
3:30 PM CDT - Money Supply 		LT: Apr Feeder Cattle(CME)
Apr Feeder Cattle Options(CME)
May Orange Juice Options(ICE)
04/19
Fri		 GOOD FRIDAY
 
 
  		LT: Apr Nikkei Options(CME)
 
 
 
04/22
Mon		 9:00 AM CDT - Existing Home Sales(Mar)
 
 
  		FN: May Coffee(ICE)
LT: May Crude Lt(NYM)
 
 
04/23
Tue		 8:00 AM CDT - FHFA Housing Price Index(Feb)
9:00 AM CDT - New Home Sales(Mar)
3:30 PM CDT - API Energy Stocks
 
 
 
 
04/24
Wed		 6:00 AM CDT - MBA Mortgage Index
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales
  		FN: May Cotton(NYM)
May Crude Lt(NYM)

 
FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. 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 release dates for certain economic reports may have been rescheduled.

* 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!