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NFP tomorrow, Oct. 7th Futures Trading Levels

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The next big scheduled event is tomorrow: this Friday’s monthly Non-farm payrolls report from the U.S. Labor Department.

If you’re a futures trader and your markets of choice to trade include stock indexes (S&P 500NasdaqDow JonesRussell 2000, etc.), or treasuries (30-yr. T-bonds2-5-10-yr. T-notes), currencies, even metals and energies, you know the importance this report.

Intraday chart of LAST MONTH’s NFP report of the mini SP for your review below:

E-Mini S&P 500 5 minute chart

 

As always, plan your trade and trade your plan. Please contact your broker or Cannon Trading with any questions.

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

Futures Trading Levels

10-07-2022

 

#goldfutures #sp500futures #crudeoilfutures # nasdaqfutures #dowfutures #futurestrading #futuresbrokers
SP500 #ES_FNasdaq100  #NQ_FDow Jones  #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds  #ZB_F Dec. 10 yr  #ZN_F Dec. Corn #ZC_F Dec.  Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept.  Euro Currency

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Economic Reports, Source: 

Forexfactory.com

 

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 here in 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 judgement in trading.

Look at Your Futures & Commodities Calendar!!

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Look at Your Calendar!!

By Mark O’Brien, Senior Broker

 

The value of the U.S. Dollar has reached heights not seen in twenty years.  This morning, the yield on the interest rate instrument that serves as the benchmark for borrowing – the 10-year Treasury Note – cracked 4% for the first time in 10 years, at a pace of ascendance not seen in four decades. Headlines abound calling attention to high price of gas, family homes, food items, appliances and more. As we’ve noted in prior blogs, these fundamentals are a reflection of the overall decline in purchasing power, commonly termed inflation. It’s a condition of the global economy as well as here in the U.S. and we’re apprised of it frequently in the form of a host of economic data released by government and private institutions.

 

Some reports are released regularly such as the U.S. Labor Department’s unemployment report at 7:30 A.M., Central Time on the first Friday of the month (with rare exceptions), or the Energy Information Agency’s crude oil stocks report at 9:30 A.M. each Wednesday. Others are released periodically such as the USDA’s Crop Production Report at 11:00 A.M., or the Commerce Department’s Producer and Consumer Price Index reports at 7:30 A.M. – almost always on consecutive days. Others can be somewhat unexpected, such as announcements by the executive and/or legislative branches of government on fiscal and other major economic policy decisions

 

For futures traders – particularly day traders – the calendar of reports is an opportunity to catch potentially sizable market reactions in stock indexes, interest rate instruments, precious metals, energies, currencies, grains, livestock, lumber and food staples like sugar, coffee and cocoa. Sudden moves provide added risk and opportunity for futures.

 

Indeed, it’s important for traders to know which reports can be the most impactful and when these reports are coming. The Cannon Trading Weekly Newsletter (available Friday) and this daily blog are excellent sources to keep you informed of these important reports.

 

As always, plan your trade and trade your plan. Please contact your broker or Cannon Trading with any questions.

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

Futures Trading Levels

09-29-2022

 

SP500 #ES_FNasdaq100  #NQ_FDow Jones  #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds  #ZB_F Dec. 10 yr  #ZN_F Dec. Corn #ZC_F Dec.  Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept.  Euro Currency

 

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Economic Reports, Source: 

Forexfactory.com

futures & commodities calendar

 

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 here in 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 judgement in trading.

WYNTK before trading tomorrow, Sept. 21st 2022 Trading Levels

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Big day tomorrow! More than a few reports including crude oil numbers and most important, FOMC – Fed decision.

 

Looks like the FED will raise rates between 50-75 basis points. currently 75% for 0.75 hike)

 

Countdown to FOMC: CME Fed Watch Tool (cmegroup.com)

 

The exact figure?

 

How many fed governors voted? language? future projections?

 

All these factors will be KEY.

 

The following are my PERSONAL suggestions on trading during FOMC days:

 

·    Reduce trading size

·    Be extra picky = no trade is better than a bad trade

·    Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 3725.00 with a stop at 3719.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 3719.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).

·    Expect the higher volatility during and right after the announcement

·    Expect to see some “vacuum” ( low volume, big zigzags) right before the number.

·    Consider using automated stops and limits attached to your entry order as the market can move very fast at times.

·    Keep in mind statement comes out at 1 Pm Central time, the news conference which dissects the language comes out 30 minutes later so the volatility window stretches out.

 

·    Know what the market was expecting, learn what came out and observe market reaction for clues

·    Be patient and be disciplined

·    If in doubt, stay out!!

 

As always, plan your trade and trade your plan. Please contact your broker or Cannon Trading with any questions.

Sierra Charts Teton Order Routing demo

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

Futures Trading Levels

09-21-2022

#goldfutures #sp500futures #crudeoilfutures # nasdaqfutures #dowfutures #futurestrading #futuresbrokers
SP500 #ES_FNasdaq100  #NQ_FDow Jones  #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds  #ZB_F Dec. 10 yr  #ZN_F Dec. Corn #ZC_F Dec.  Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept.  Euro Currency

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here

Economic Reports, Source: 

Forexfactory.com

 

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 here in 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 judgement in trading.

WYNTK before trading tomorrow, Sept. 15th 2022 Futures Trading Levels

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The Significance of Price Banding & Stop Orders

by Mark O’Brien, Senior Broker

Yesterday, at 7:30 A.M., Central Time, the Bureau of Labor Statistics released its Consumer Price Index (CPI) report, which measures the prices paid by consumers for a basket of consumer goods and services. Overall prices increased 8.3% from a year earlier, down from an 8.5% rise in July and a 40-year high of 9.1% in June. On that news, within a single minute, the Dec. E-mini S&P 500 futures contract fell ±90 points, roughly from 4160.00 to 4070.00.

( see 10 seconds chart below)

This was an exceptionally forceful move and it calls attention to an important control mechanism that the CME Group has implemented not just for the E-mini S&P 500 market, but for all markets and is very important for traders to understand. This mechanism, called Price Banding subjects orders to rules on where they can be placed in the market and rejects orders that are either placed erroneously or come to be outside a given band based on market movement.

There are several important scenarios where Price Banding will affect a trader’s order. This piece looks at STOP orders and in the context of the move in yesterday’s E-mini S&P 500, SELL STOP orders.

The Price Band for the E-mini S&P 500 is currently set at 5.00 points, which because the market trades in .25-point increments, means there are 20 price points, or “handles,” where the market can trade (5 ÷ .25 = 20).

Before the CPI report was released yesterday, the Dec. E-mini S&P 500 was trading at ±4160.00. As is the case with a market that trades in the millions of contracts each day, orders of all types were being placed – and cancelled – at price points up and down the market, including SELL STOP orders below the market. Those SELL STOP orders were subject to the Price Banding parameter of 5 points, which means if a market move resulted in a 5-point or greater price change below any SELL STOP order’s price, the SELL STOP order became a SELL LIMIT order at the price within the band.

By example, before the CPI report when the Dec. E-mini S&P 500 was trading at ±4160.00, if a SELL STOP was placed with a reference price of 4120.00 and the market declined such that it traded through 4120.00 as well as the Price Band price of 4115.00 without filling the order, the 4120.00 SELL STOP order would be converted to a 4115.00 SELL LIMIT ORDER.

A full write-up on price limits and price banding can be found on the CME Group web site: click here.

A complete list of banding information for each electronically traded product is also available: click here (Excel).

Emini S&P Chart
Sierra Charts Teton Order Routing demo

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

Futures Trading Levels

09-15-2022

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here

Economic Reports, Source: 

Forexfactory.com

 

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 here in 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 judgement in trading.

WYNTK before trading tomorrow, Sept. 8th Futures Trading Levels

Get Real Time updates and more on our private FB group!

Bullet Points: Highlights and Announcements

By Mark O’Brien, Senior Broker

Energies: Heads up! As opposed to most weeks when they’re released on Wednesday and Thursday, this week’s Energy Information Agency reports on natural gas storage and crude oil storage will be released on the same day: this Thursday at 9:30 A.M. and 10:00 A.M., Central Time, respectively. The Labor Day holiday effected this schedule change.

Dec. crude oil continued its downward slide today, losing $5.01/barrel ( >5% ) to an intraday low of $81.02/barrel, almost $30/barrel off its mid-May highs. Dec. unleaded gas (RBOB) followed with its own ±10-cent/±4.6% decline to ±$2.22/gal. intraday, a 7-month low. Recession fears and related demand prospects overrode the OPEC+ decision to reduce output by 100,000 barrels per day next month. Over the last few days going back to last week, crude oil and its products as well as natural gas futures have exhibited lukewarm reactions to several bullish supply developments. If this theme persists, prices will remain vulnerable to further selling.

The US economy’s relative strength against other major economies is keeping the dollar strong and putting additional pressure on gold and silver.

The Japanese Yen slumped to a new 24-year low this morning.

ECB conference tomorrow as well as Fed’s Powell speaking.

Sierra Charts Teton Order Routing demo

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

Futures Trading Levels

09-08-2022

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker
 1-800-454-9572 Explore trading methods. Register Here

Economic Reports, Source: 

Forexfactory.com

 

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 here in 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 judgement in trading.