December 4, 2013
- in Uncategorized by schooloftrade
Day Trading Morning Prep 12/04/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· Gold
moving lower on bets the Fed will Taper earlier than expected
moving lower on bets the Fed will Taper earlier than expected
· Crude
Oil Futures rise on fears of US supply
Oil Futures rise on fears of US supply
· European news disappoints, highlights
‘bumpy’ recovery in the EU
‘bumpy’ recovery in the EU
· European equities struggle to rebound
after 2 days of losses
after 2 days of losses
· Oil Ministers to attend OPEC meeting today in Vienna
· Saudi
Oil Minister says ‘oil market is in a good place for buyers and sellers’
Oil Minister says ‘oil market is in a good place for buyers and sellers’
· Traders focused on the US
ADP Employment Data at 8:15am EST today
ADP Employment Data at 8:15am EST today
· Economic Calendar has three (3) Red-Star
news events today
news events today
· Hang Seng is lower -.75%
· FDAX is even +0.00%
· E-Mini Nasdaq is lower -.05%
· E-Mini Dow is lower -.60%
· EUR/USD is higher +.02%
· Gold is lower -.65%
· Crude Oil is higher +1.30%
Economic News on the
schedule today:
schedule today:
This morning we have a busy schedule for economic news
starting right after 8am EST with some important jobs data that will play into
Friday’s Non-Farm Payroll news. We will
expect there to be a decent reaction to the ADP Report at 8:15am EST.
starting right after 8am EST with some important jobs data that will play into
Friday’s Non-Farm Payroll news. We will
expect there to be a decent reaction to the ADP Report at 8:15am EST.
The ‘meat and potatoes’ of the morning will be from 8:30am
through 10:30am EST today. We have
International Trade at 8:30am followed by New Home Sales at 10:00am which are
both Red-Star news events and are sure to move the markets for us.
through 10:30am EST today. We have
International Trade at 8:30am followed by New Home Sales at 10:00am which are
both Red-Star news events and are sure to move the markets for us.
Later in the session we have Crude Oil Inventories, which
means we need to trade Crude Oil cautiously ahead of this report and we will
look for the best trading opportunities after 10:35am EST today on the ‘black
gold’.
means we need to trade Crude Oil cautiously ahead of this report and we will
look for the best trading opportunities after 10:35am EST today on the ‘black
gold’.
8:15am EST: ADP
Employment Report
Employment Report
8:30am EST: International
Trade
Trade
10:00am EST: New
Home Sales
Home Sales
10:00am EST: ISM
Non-Mfg Index
Non-Mfg Index
10:30am EST: Crude
Oil Inventories
Oil Inventories
2:00pm EST: Beige
Book
Book
This afternoon we hear from the Beige Book, which is a very
important leading indication to the next Fed Meeting on the 18th of
December. We know traders will be
listening closely to see what the Fed is thinking 2 weeks ahead of their last
meeting of 2013.
important leading indication to the next Fed Meeting on the 18th of
December. We know traders will be
listening closely to see what the Fed is thinking 2 weeks ahead of their last
meeting of 2013.
Click here to see today’s Economic Calendar
Are any of these
Red-Star news events today?
Red-Star news events today?
Yes, we have 2 major Red-Star news events this morning. The first is at 8:30am EST with International
Trade and the second is at 10:00am EST with New Home Sales. Both of these reports will move the markets
we trade and we will be paying close attention around those times.
Trade and the second is at 10:00am EST with New Home Sales. Both of these reports will move the markets
we trade and we will be paying close attention around those times.
Remember, when you have Red-Star news on the schedule you
know there is the potential for a large move in the price-action so we want to
define the new short-term trend after the news is released and trade in the
direction with a runner profit-target to catch the big move.
know there is the potential for a large move in the price-action so we want to
define the new short-term trend after the news is released and trade in the
direction with a runner profit-target to catch the big move.
Which markets will
be affected by this news the most today?
be affected by this news the most today?
All markets are expected to be affected by this news today,
however, Crude Oil will be the market that is adversely affected the most. Wednesday’s are tough on Crude Oil traders before
the release of inventories at 10:30am EST so stay patient trading Crude Oil until
after 10:35am EST.
however, Crude Oil will be the market that is adversely affected the most. Wednesday’s are tough on Crude Oil traders before
the release of inventories at 10:30am EST so stay patient trading Crude Oil until
after 10:35am EST.
We continue to hear the words ‘fed taper’ from every news
source, analyst and trader right now which tells us that Gold and the Dollar-Index
are going to be moving this week so keep your eyes and ears open for trading
opportunities on almost every market.
source, analyst and trader right now which tells us that Gold and the Dollar-Index
are going to be moving this week so keep your eyes and ears open for trading
opportunities on almost every market.
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