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November 17, 2010
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Weekly Market News featuring Futures Exchange Research, first notice / last trading days, futures options expiration dates, commodity futures prices and trading charts, plus more.
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http://www.cannontrading.com/tools-weekly-newsletter.php
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In This Issue
CCI Backs Off Sharply—A Warning to Commodity Bulls Futures Trading Strategies Economic Calendar
November 17th 2010 - Issue #558
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CCI Backs Off Sharply—A Warning to Commodity Bulls
By Jim Wyckoff
The Continuous Commodity Index (CCI) this week has dropped sharply and has suffered serious near–term technical damage to suggest a near–term top is in place for the index. The CCI is a basket of 17 major commodity futures prices rolled into one composite index price. It's an excellent barometer of the overall trend in commodity market prices. Last week the CCI notched a fresh two–year high and came close to surpassing the all–time record high the index scored in the summer of 2008. Price action in the CCI this week at least temporarily negated a five–month–old uptrend on the daily bar chart. This week’s price action in the CCI is also a warning shot across the bow of commodity market bulls and does suggest commodity markets did become over–extended on the upside and are now experiencing at least strong corrective pullbacks, if not having just posted near–term tops.
Read the Rest of this Article Here:
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http://www.cannontrading.com/tools-weekly-newsletter.php#one
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Futures Trading Strategies
Source: Iowa State University
Follow:
# Patience for real clear situation.
# Trend and sound fundamentals are almost perfect market tone.
# Calculate risk reward! At least 1 to 3 ratio.
# Place stop beyond some technical barrier. A hard to reach spot.
Follow These Technical Indicators:
1) Channel Lines
2) Key Reversal or Outside Day Key Reversal
3) Gaps
4) Double Tops and Double Bottoms
5) Head and Shoulders Formation
Read the Rest of this Article Here:
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http://www.cannontrading.com/tools-weekly-newsletter.php#two
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Economic Calendar
Source: Moores Research Center, Inc.
View the Calendar Here:
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http://www.cannontrading.com/tools-weekly-newsletter.php#three
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* 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!