October 31, 2013
- in Uncategorized by schooloftrade
Morning Prep 10/31/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· Happy Halloween!
· Traders around the world reacting to
the FOMC Report on Wednesday afternoon
the FOMC Report on Wednesday afternoon
· FOMC says the US is still growing at ‘moderate
page’
page’
· FOMC remarks lead analysts to believe
the Fed will ‘taper’, but no timeline yet
the Fed will ‘taper’, but no timeline yet
· European economic news disappoints overnight
· Italian unemployment jumps up to
12.5%
12.5%
· Gold is lower -1.10% (1,334.40)
· Crude Oil is higher +.10% (96.86)
· EUR/USD is lower -.55% (1.3656)
· E-Mini Dow is lower -.40% (15,618)
· E-Mini S&P I slower -.50% (1,763.25)
· Hang Seng is lower -.45% (23,206)
· FDAX is breakeven +0.00% (9,010)
Economic News on the
schedule today:
schedule today:
Today we finish up the month of October with news from Jobless
Claims, followed by business conditions in Chicago. Both of these are important news events, and
we will be watching them closely in the live trade-room this morning.
Claims, followed by business conditions in Chicago. Both of these are important news events, and
we will be watching them closely in the live trade-room this morning.
8:30am EST: Jobless
Claims
Claims
9:45am EST: Chicago
PMI
PMI
Which markets will be affected by this news the most today?
Jobless Claims will have an impact on most markets; we will
watch the reaction on the Dollar-Index because the correlation can be applied
to almost all the markets we trade.
Chicago PMI is not as important as Jobless Claims, but it will still
have an impact on the overall market sentiment this morning.
watch the reaction on the Dollar-Index because the correlation can be applied
to almost all the markets we trade.
Chicago PMI is not as important as Jobless Claims, but it will still
have an impact on the overall market sentiment this morning.
Are any of these Red-Star news events today?
Yes, Jobless Claims is considered to be Red-Star news so we
will look for trading opportunities around 8:30am EST this morning and will
remember to leave a ‘runner’ on the trades we take around this news because there
is a greater chance of a larger move in the price-action.
will look for trading opportunities around 8:30am EST this morning and will
remember to leave a ‘runner’ on the trades we take around this news because there
is a greater chance of a larger move in the price-action.
