December 5, 2013
- in Uncategorized by schooloftrade
Day Trading Morning Prep 12/05/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· Traders prepare ahead of major news
today and tomorrow from the US and ECB
today and tomorrow from the US and ECB
· In the US we have Friday’s
Non-Farm Payroll News @ 830am EST
Non-Farm Payroll News @ 830am EST
· In the EU today is the Rate Decision
for the ECB and BOE
for the ECB and BOE
· Crude Oil trading at 5-week
highs around 97.50 after inventories fell on Wednesday
highs around 97.50 after inventories fell on Wednesday
· Gold
tumbles on speculation the Fed will Taper
tumbles on speculation the Fed will Taper
· Global Equities trading flat this
morning, no change from Wednesday
morning, no change from Wednesday
·
· FDAX is flat +0.00%
· E-Mini S&P is lower -.15%
· EUR/USD is flat +0.00%
· Gold is lower -1.25% [1,232.40]
· Crude Oil is higher +.35% [97.57]
Economic News on the
schedule today:
schedule today:
This morning we have alot of important news on the calendar, starting with a glimpse into the retail sales from last week’s
Black
Friday. We will look for today’s
Chain Store Sales numbers to tell us how retailers did over the holiday
weekend, which is an important look inside the minds of consumers in the
US. If consumers are spending, they are
confident, and the economy will grow, giving the Fed more reasons to pull back the
reins on the stimulus in the economy.
In the ECB we have the
always-important ECB Rate Decision, which will undoubtedly affect the Euro and other major currencies
along with Gold and the Dollar-Index.
Look for the press conference today at 8:30am EST to provide traders in
the US session an opportunity to see some volatility from the reaction.
always-important ECB Rate Decision, which will undoubtedly affect the Euro and other major currencies
along with Gold and the Dollar-Index.
Look for the press conference today at 8:30am EST to provide traders in
the US session an opportunity to see some volatility from the reaction.
Jobless Claims and GDP
will get the price-action moving well for us this morning so we will be looking for trading
opportunities bright and early in the US morning session. Jobless Claims have
been pointing to a strong economy in the US with the 4-week average falling and
continuing claims on the decline.
will get the price-action moving well for us this morning so we will be looking for trading
opportunities bright and early in the US morning session. Jobless Claims have
been pointing to a strong economy in the US with the 4-week average falling and
continuing claims on the decline.
Later in the morning we
hear from the manufacturing sector, which has been on a rollercoaster-ride as of lately, up and
down. Factory Orders at
10:00am EST will tell us if the bullish numbers from last month were here to
stay or if we are back on the wagon once again.
hear from the manufacturing sector, which has been on a rollercoaster-ride as of lately, up and
down. Factory Orders at
10:00am EST will tell us if the bullish numbers from last month were here to
stay or if we are back on the wagon once again.
7:30am EST: Chain Store Sales
(Black Friday Numbers)
(Black Friday Numbers)
7:45am EST: ECB
Rate Decision
Rate Decision
8:30am EST: Jobless
Claims & GDP
Claims & GDP
8:30am EST: ECB’s
Draghi Press Conference
Draghi Press Conference
9:45am EST: Bloomberg
Consumer Comfort Index (minor)
Consumer Comfort Index (minor)
10:00am EST: Factory
Orders
Orders
Click here to see today’s Economic Calendar
Are any of these
Red-Star news events today?
Red-Star news events today?
Yes, the news at 8:30am
EST from Jobless Claims and GDP are both considered to be Red-Star news.
This tells us that there will be the most trading opportunities around
this time of the trading session. We will
be watching for a new trend to develop and then trade in the direction of that
trend using simple entry patterns.
EST from Jobless Claims and GDP are both considered to be Red-Star news.
This tells us that there will be the most trading opportunities around
this time of the trading session. We will
be watching for a new trend to develop and then trade in the direction of that
trend using simple entry patterns.
Which markets will
be affected by this news the most today?
be affected by this news the most today?
The two biggest news reports of the week are today and
tomorrow. Non-Farm Payroll in the US and
today’s ECB Rate decision will have a lot of markets moving. We can assume that ALL markets will be a
little sluggish today as we go into the last big news of the year for the jobs
market.
tomorrow. Non-Farm Payroll in the US and
today’s ECB Rate decision will have a lot of markets moving. We can assume that ALL markets will be a
little sluggish today as we go into the last big news of the year for the jobs
market.
First, Gold and Currencies will be volatile heading into
today’s ECB Rate Decision and into tomorrow’s Non-Farm Payroll news.
today’s ECB Rate Decision and into tomorrow’s Non-Farm Payroll news.
Second, Factory Orders and manufacturing will impact Crude
Oil and Natural Gas trading today.
Oil and Natural Gas trading today.
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