Click on the Futures Research tool bar button to display a work page containing news, price data and other information relating to futures trading:
The Futures Research work page has tabbed pages for each of the commodity or financial instruments groupings.
The underlying types of commodities or instruments are arranged into tabbed pages, each page contains research information relating to products and financial instruments relating to those groups.
Commodities are grouped into Grains, Meats, Metals, Energies and Softs (including for example wool, coffee, cotton, cocoa, orange juice, etc.).
Futures contracts whose underlying assets are financial instruments found in the Financials group. This group includes futures based on Bonds, Bank Bills, Treasury Notes, etc. Currencies also have a tabbed page.
The information includes general news items affecting futures in the group, as well as trading information about the futures themselves.
News articles relating to the industries or activities of the group are accessed and displayed on the left of the work page and price data for the instruments in the group is presented on the right.
Select a Group tab to display the Headlines Summary for that commodities or financial instruments group.
For each major commodity or instrument type in the group, a Headline Summary will be displayed for that type. For example, the Softs commodity group has headline summaries for the following commodity types:
Each Headline Summary will be preceded by a Fundamental icon , or a Technical icon
.
Select one or the other to display Fundamental or Technically based headlines and articles for the product.
When a Headline Summary with a Fundamental icon is selected, a list of Fundamental Commentary Titles will populate the title selection box below the Headlines Summary box:
The Fundamental Commentary Titles groupings will vary depending on which commodities or instruments tab is selected.
Some Commentary Titles are specific to each individual tab, but others, such as Fundamental Focus, Todays Market Ideas, New/Previous Recommendations and General, are frequently compiled and made available for each of the different groups.
Select a Commentary Title to open its text in the lower pane.
An in-depth, narrative discussion of the current Fundamental factors affecting the selected commodity type will normally be displayed.
Fundamental topics, issues and factors can include such things are the general state of the economy, the weather (particularly for commodities, various governmental or statistical reports, recent events directly relating to the commodity financial instrument, etc.
When a Headline Summary with a Technical icon is selected, a list of Technical Commentary Titles will populate the title selection box below the Headlines Summary box:
The Technical Commentary Titles groupings will vary depending on which commodities or instruments tab is selected.
Technical Commentary Titles will generally be grouped into the commodities or financial instruments for which futures chains exist.
However, some futures chains which may be reported by Your SOFTWARE, for example Greasy Wool, Jute or Polypropylene in the Softs commodity group, may not have a Commentary Title listing either because the commodity is seasonal, currently there are no appropriate articles, insufficient interest, etc.
Once a Commentary Title is selected, an in-depth, narrative discussion of the current technical trading situation of the selected commodity type will normally be displayed in the lower pane.
The content is normally a discussion and explanation of the various technical issues that are raised by recent price chart movements together with interpretations based on chart indicators and other methods of technical analysis.
Technical Statistics are provided for the Front Month futures contracts for some of the most actively traded commodities or instruments in each group.
The Contract's symbol, including its expiry indicator, is displayed, together with its most recent Close price.
Other indicators for each contract include 9 and 14 Day Relative Strength Index (RSI) levels, the 14 Day Slow %D and %K Stochastic levels, together with 20, 40, 50 and 60 Day Moving Averages.
Swing Statistics are provided for the same Front Month futures contracts displayed in the Technical Statistics table:
Analysts' projections for two levels of Support, the Pivot level and two levels of Resistance are provided.
The Commitment of Traders analysis table allows users to quickly assess the overall movements in the market based on the current Open Interest of three widely acknowledged groups of traders in the futures markets:
Open Interest is the number of contracts currently open. It is expressed in this table in thousands, for example Non-Commercial traders currently hold 15,910 short Copper contracts.
The number of currently opened short positions are expressed as negative numbers, while the open interest in long positions are represented by positive numbers.
Three types of traders are widely acknowledged in futures markets. Statistics on the activity of each group are compiled by a number of futures market data providers:
Non-Commercial traders include Banks, fund managers, grain/commodity brokers, and other large institutional players in the market.
Commercial traders include producers such as farmers or miners, or large scale consumers who are hedging future prices.
Non-Reportable traders are essentially the speculators in the market, referred to on some exchanges as "locals" who are trading solely to take advantage of price differentials.
The Net Position of all three types of trader will always equal zero, with the Net Positions of the Non-Commercial and Commercial traders often balancing each other, i.e. short positions (expressed as negative numbers) canceling out the other's long position (positive numbers).
Non-Reportable Net Positions will take up the remainder.
The Net Weekly Change provides an indication of market direction and trader interest.
The tabbed Price Charts each contain the Front Month contract for a representative futures contract for each of the commodities or financial instruments in the currently selected group:
At the bottom of each chart are the current price and direction of the contract.