November 1, 2013
- in Uncategorized by schooloftrade
Morning Prep 11/01/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· Traders begin a new month of November
with Red-Star news from ISM
Manufacturing
with Red-Star news from ISM
Manufacturing
· Holiday in Europe leads to lower
volume in overnight trading (All Saints Day)
volume in overnight trading (All Saints Day)
· Analysts in Europe now predicting an
ECB rate hike in the coming meeting next week
ECB rate hike in the coming meeting next week
· Chinese PMI news beats expectations
· Gold is lower -.50% (1,316.00)
· Crude Oil is lower -.20% (96.20)
· EUR/USD is lower -.50% (1.3520)
· Hang Seng is higher +.20% (23,250)
· FDAX is lower -.15% (9,023.00)
· E-Mini S&P is lower -.40% (1,756.50)
· E-Mini Dow is lower -.50% (15,545)
Economic News on the
schedule today:
schedule today:
This morning we finish up the week with the beginning of a
new month of November. We know that the
end of the week can be a big variable, and when that also includes the
beginning of the month we know there may be some concerns over market
personality this morning in the US trading session. On top of this, last night was Halloween here
in the US, so we can expect to see a little ‘hangover’ this morning. All of these clues tell us to be aware that
today MAY be a lower-volume trading session, so be prepared.
new month of November. We know that the
end of the week can be a big variable, and when that also includes the
beginning of the month we know there may be some concerns over market
personality this morning in the US trading session. On top of this, last night was Halloween here
in the US, so we can expect to see a little ‘hangover’ this morning. All of these clues tell us to be aware that
today MAY be a lower-volume trading session, so be prepared.
It’s
manufacturing Friday! The flash PMI manufacturing index was very soft which may
point to a rebound for the final reading especially as the government reopened
in the last half of the month. Both the ISM report and manufacturer unit
vehicle sales were steady and strong heading into the government shutdown.
manufacturing Friday! The flash PMI manufacturing index was very soft which may
point to a rebound for the final reading especially as the government reopened
in the last half of the month. Both the ISM report and manufacturer unit
vehicle sales were steady and strong heading into the government shutdown.
7:45am EST: Motor
Vehicle Sales
Vehicle Sales
8:58am EST: PMI
Manufacturing Index
Manufacturing Index
10:00am EST: ISM
Mfg Index
Mfg Index
Click
here to see today’s Economic Calendar
here to see today’s Economic Calendar
Which markets will
be affected by this news the most today?
be affected by this news the most today?
Today’s news are both focused on manufacturing, and when we
think manufacturing we think ‘factories’ and ‘products’ being sold from those
factories. With manufacturing growing
there will be more demand on Crude Oil, Natural-Gas, and other
commodities. I also think that
manufacturing will be a leading indicator for consumer confidence, which will
impact Gold, Silver, and equities to include the e-mini’s.
think manufacturing we think ‘factories’ and ‘products’ being sold from those
factories. With manufacturing growing
there will be more demand on Crude Oil, Natural-Gas, and other
commodities. I also think that
manufacturing will be a leading indicator for consumer confidence, which will
impact Gold, Silver, and equities to include the e-mini’s.
Are any of these
Red-Star news events today?
Red-Star news events today?
Yes, the news at 10:00am EST this morning, ISM Mfg Index, isindeed Red-Star news so we can expect there to be the most volume and
volatility around that time today. We
will look for trading opportunities to show up after the news is released at
10am, and we will always try to hold onto a ‘runner’ for a profit-target because
we expect the move to be larger than normal.
