Archive
Monthly Archives: August 2011
August 4, 2011
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Major vs. Minor Support and Resistance levels for Day Trading
Major vs. Minor Support & Resistance · Support is a level below the current price · Resistance is a level above the current price There are two different types of support/resistance · Static = never changing, always the same · Dynamic = always changing, always different Major = slower timeframe levels that are expected to […]
Continue reading August 4, 2011
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Day traders look for falling jobless claims and early morning trading volume
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— Bank of Japan continues its own currency manipulation EU Leaders worried about debt crisis, believe Spain and Italy may lead to the fall of the Euro ECB and BOE leave interest rates unchanged Crude Oil continues its decline today on less demand across the globe […]
Continue reading August 3, 2011
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Horseshoe Pattern, Price Channel & Outside Day made for easy profit on crude oil futures
The US Dollar Index is making new lows this morning in a bear price channel. This is gold bullish, euro bullish and crude oil bearish. We had lack-luster news at 815am ADP Employment, this will be US Dollar Bearish. Crude Oil Futures continue to tumble this morning on lack of global demand coming from the […]
Continue reading August 3, 2011
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Interesting Jobs report shows signs of unexpected weakness
Companies in the U.S. added 114,000 workers to payrolls in July, according to a private survey. The increase followed a revised 145,000 gain the prior month, according to data from ADP Employer Services. The median forecast of economists surveyed by Bloomberg News called for an advance of 100,000. A slowdown in hiring means consumers are […]
Continue reading August 3, 2011
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Trade the News Market Internals Update at 12:00ET
***Economic Data*** – (US) MBA Mortgage Applications w/e Jul 29th: +7.1% v -5.0% prior – (US) July Challenger Job Cuts: 66.4K v 41.4K prior; Y/Y: 59.4% v 5.3% prior ((highest since March 2010) – (US) July ADP Employment Change: 114K v 100Ke – (US) July ISM Non-Manufacturing Composite: 52.7 v 53.5e – (US) Jun Factory […]
Continue reading August 3, 2011
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Earn profit from Range-Bound Markets the EASY way
Trading Range-Bound Markets? Trending markets make new higher highs and they show us lots of price action to support the trend. Higher Lows, higher highs, lots of speed and big money buyers. Easy to tell WHO controls price and where it wants to go. Range-Bound Market (sideways market/range) does not have higher highs and lower […]
Continue reading August 3, 2011
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Crude Tumbles ahead of Inventories as Gold hits Record Highs
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— European equities all lower overnight in the wake of the debt ceiling agreement on Tuesday. Equity Indexes across the Globe tumble; Russell, Dow, ES all breaking major support Gold Futures continue into record-breaking highs Crude Oil drops forth day in a row on less demand […]
Continue reading August 2, 2011
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Range-bound markets made for easy profits selling highs and buying pullbacks
We have personal income/spending news at 830am and we expect this to be lower than previous weeks. (USD bearish, crude bearish, gold bullish) The US Dollar Index is making new highs today, so we know selling gold, crude, euro and russell will be the higher percentage trades until the dollar changes its direction. Remember the […]
Continue reading August 2, 2011
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Trade the News Market Internals update at 12:00ET
Dow -101 S&P -14 NASDAQ -23 ***Economic Data*** – (US) ICSC/GS weekly chain store sales w/e July 30th: -0.3% w/w; +4.0% y/y – (BR) Brazil Jun Industrial Production M/M: -1.6% v -0.4%e; Y/Y: 0.9% v 2.5%e – (US) Jun Personal Income: 0.1% v 0.2%e; Personal Spending: -0.2% v +0.1%e – (US) Jun PCE Core M/M: […]
Continue reading August 2, 2011
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Debt Ceiling Deadline Looms as Day Traders prepare for personal spending news
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— – Today is the deadline for the Debt Ceiling, and the US Senate is expected to Vote today around 2pm EST. – Consumer Spending numbers due out today at 830am expected to be lower than previous years – Slowdown in the US Economy affecting Stock […]
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