August 19, 2014
- in Uncategorized by schooloftrade
Selling-SHORT for Wednesday | SchoolOfTrade Newsletter 08/19/14
“A goal is not
always meant to be reached. It often serves simply as something to aim
at.” -Bruce Lee.
always meant to be reached. It often serves simply as something to aim
at.” -Bruce Lee.
Notes for Tonight’s Newsletter:
Misc:
· Volume is 15% below averages as we finish
the month of August… is it September yet?
the month of August… is it September yet?
· More good news from the US, bad news
from Europe, and de-escalation of violence are moving markets well into the end
of August
from Europe, and de-escalation of violence are moving markets well into the end
of August
· Geo-political impacts are becoming
less important as the summer moves into the last 2 weeks of August
less important as the summer moves into the last 2 weeks of August
· Crude Oil and Gold pushing lower,
Mini-Russell is pushing higher
Mini-Russell is pushing higher
· Jackson Hole Symposium later this week
· Join our Live Trade Room as a GUEST here
· Long-Term Direction Bias = SHORT / NEUTRAL
· Short-Term Directional Bias = SHORT
· Fundamentals:
Euro is moving lower because of the economic slowdown at the ECB, and
that is pushing the Dollar-index higher, which is pushing Gold lower. In addition to currencies, we have less
concern about violence in the Middle East which is aiding the sellers on Gold
Futures.
Euro is moving lower because of the economic slowdown at the ECB, and
that is pushing the Dollar-index higher, which is pushing Gold lower. In addition to currencies, we have less
concern about violence in the Middle East which is aiding the sellers on Gold
Futures.
· Daily Chart:
moving lower, but still in the middle of the daily chart range, which
means price-action will be ‘sloppy’ at times.
moving lower, but still in the middle of the daily chart range, which
means price-action will be ‘sloppy’ at times.
· 32-Anchor Chart:
pushing lower, stuck at the lows of the price wedge (trend-line)
pushing lower, stuck at the lows of the price wedge (trend-line)
· 16-Anchor Chart: pushing lower, but sitting at a
support zone just below the big-round-number of $1,300/oz.
support zone just below the big-round-number of $1,300/oz.
· Profit-targets below @ 1290.3,
1285.9, 1282.7, 1275.0
1285.9, 1282.7, 1275.0
Crude Oil:
· Long-Term Direction Bias = SHORT
· Short-Term Directional Bias = SHORT
· Fundamentals:
Euro is moving lower because of the economic slowdown at the ECB, and
that is pushing the Dollar-index higher, which is pushing Crude Oil lower. In addition to currencies, we have less
concern about violence in the Middle East which is aiding the sellers on Crude
Oil Futures…and as the summer driving season comes to an end this is ONLY
getting worse!
Euro is moving lower because of the economic slowdown at the ECB, and
that is pushing the Dollar-index higher, which is pushing Crude Oil lower. In addition to currencies, we have less
concern about violence in the Middle East which is aiding the sellers on Crude
Oil Futures…and as the summer driving season comes to an end this is ONLY
getting worse!
· Daily Chart:
Price-action is moving lower, pushing through the zone and trying to
close below the lows of 92.98. today we
closed slightly above the low, closing-print at 92.94
Price-action is moving lower, pushing through the zone and trying to
close below the lows of 92.98. today we
closed slightly above the low, closing-print at 92.94
· 32-Anchor Chart:
bearish trend, bearish market-structure and we are selling short at the
defined sell-zones.
bearish trend, bearish market-structure and we are selling short at the
defined sell-zones.
· 16-Anchor Chart:
bearish trend, bearish market-structure and recently tested the lows of
the bear-price channel so we are waiting once again for the retracement into a
defined sell-zone overhead.
bearish trend, bearish market-structure and recently tested the lows of
the bear-price channel so we are waiting once again for the retracement into a
defined sell-zone overhead.
· Profit-targets below @ 92.37, 92.14,91.83,
91.24, 90.66, 90.07
91.24, 90.66, 90.07
Mini-Russell:
· Long-Term Direction Bias = LONG
· Short-Term Directional Bias = LONG
· Fundamentals:
Slowdown in Europe and Asia is putting all the money in US equities
right now. All of the e-mini’s have been
strong and very bullish because of this.
Slowdown in Europe and Asia is putting all the money in US equities
right now. All of the e-mini’s have been
strong and very bullish because of this.
· Daily Chart:
pushing higher, directly into our sell-zone at 1157.1 with the next
resistance level at 1169.7 above us.
pushing higher, directly into our sell-zone at 1157.1 with the next
resistance level at 1169.7 above us.
· 32-Anchor Chart:
very bullish, over-extended to the up-side, waiting for a pullback to
keep buying, and look for a lower % reversal for a selling opportunity.
very bullish, over-extended to the up-side, waiting for a pullback to
keep buying, and look for a lower % reversal for a selling opportunity.
· 16-Anchor Chart:
very bullish and over-extended.
We are waiting for pullbacks into our defined buy-zones below.
very bullish and over-extended.
We are waiting for pullbacks into our defined buy-zones below.
· Profit-targets above @ price channel
highs, 1171.7, 1175.4, and 1187.7
highs, 1171.7, 1175.4, and 1187.7
Profit-targets below @ 1152.4 and again down at
1145.5 if the buyers fail.
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