Traders React to Elections and Slipping Investor Confidence ahead of a Quiet US Morning Session

Professional traders understand their success is the byproduct of all the little things they do every day.  We can’t deny that when we are prepared for each trading day we do far better than if we are unprepared, and our morning routine is designed to do all those little things each morning to prepare us for the opportunities that lie ahead today.  Are you using a plan today?  Does that plan account for everything you will need to be successful today?

—————————————————————————————

The James’ Report:  Day Trading Strategies for Professional Traders

—————————————————————————————

What happened Overnight:

– France and Greece vote anti Germany anti austerity.
– Sarkozy becomes the 11th euro-zone leader swept away in the sovereign-debt crisis
– German Chancellor Merkel lost support in the regional election in Schleswig Holstein
– German-French axis that had been the driver of budget consolidation in Europe has been dented
– UK May-Day holiday drains liquidity from volume levels

– European equity indices opened the session sharply lower across the board, following the weekend election results out of France and Greece. In France the CAC-40 opened lower by 1.7% and in Greece the main equity index has lost over 7%. European banks are broadly lower, led by declines in Greek and French financials. European listed oil and metals related companies are broadly lower, tracking the weakness in commodity prices. Amid the equity weakness, the Eurostoxx 50 volatility index has risen to fresh 4-month highs and the German 10-yr Bund yield has declined to record lows. Additionally, Greece’s 10-yr bond yield has risen by over 165bps. Equities in the UK are closed on the session in observance of a bank holiday.

read the complete morning
prep here

Prepare for your trading
with these charts today:

Crude Oil
Futures

Gold
futures

E-Mini-Russell
Futures

Euro
Currency Futures

Day
trading strategies

read the complete morning
prep here