November 14, 2013
- in Uncategorized by schooloftrade
Day Trading Morning Prep 11/14/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· European GDP comes out mixed, however
it still paints the picture that the worst is behind us in the EU
it still paints the picture that the worst is behind us in the EU
· France economy contracted and Italy
continues in a recession for the 9th straight quarter
continues in a recession for the 9th straight quarter
· Traders are reacting to the (leaked)
release of the Nominated
Fed Chairperson Yellen’s confirmation hearing.
release of the Nominated
Fed Chairperson Yellen’s confirmation hearing.
· Nominated Fed Chairperson Yellen’s
testimony was leaked and noted a very dovish
tone, saying unemployment is too high with inflation running below 2% will
continue for some time. The Fed still
has a lot of work to do ahead.
testimony was leaked and noted a very dovish
tone, saying unemployment is too high with inflation running below 2% will
continue for some time. The Fed still
has a lot of work to do ahead.
· Yellen’s “Dovish”
comments = lower rates = easy money = economic stimulus
comments = lower rates = easy money = economic stimulus
· Yellen’s
confirmation hearing scheduled for Thursday 10:00am EST
confirmation hearing scheduled for Thursday 10:00am EST
· Equities push higher on comments
leaked from Fed’s Yellen
leaked from Fed’s Yellen
· Ben Bernanke says the Fed is ‘missing
on Jobs and Inflation target’ and hopes to see unemployment back below 6% in
the near term. Also says monetary policy
will normalize once the economy has been restored.
on Jobs and Inflation target’ and hopes to see unemployment back below 6% in
the near term. Also says monetary policy
will normalize once the economy has been restored.
· S&P says that the new Fed
Chairperson Yellen is a ‘positive’ for the US economy.
Chairperson Yellen is a ‘positive’ for the US economy.
· IEA
Monthly Report raises 2013 global demand for Crude Oil, however it cuts
2014 demand, noting that seasonal demand is expected to push oil prices higher
in the short term
Monthly Report raises 2013 global demand for Crude Oil, however it cuts
2014 demand, noting that seasonal demand is expected to push oil prices higher
in the short term
· Hang Seng is higher +.85% (22650)
· FTSE is higher +.55% (6666)
· FDAX is higher +.75% (9125)
· E-Mini Nasdaq is higher +1.25% (3405)
· E-Mini S&P is higher +.85% (1782)
· E-Mini Dow is higher +.45% (15822)
· EUR/USD is lower -.35% (1.3438)
· Gold is higher +1.05% (1282)
· Crude Oil is lower -.35% (93.55)
Economic News on the
schedule today:
schedule today:
November 14, 2013
Janet
Yellen takes the world stage but isn’t expected to rock the boat. Among the
day’s indicators, strength or weakness of exports in the international trade
report will offer an important indication on the manufacturing sector.
Janet
Yellen takes the world stage but isn’t expected to rock the boat. Among the
day’s indicators, strength or weakness of exports in the international trade
report will offer an important indication on the manufacturing sector.
8:30am
EST: Jobless
Claims | International
Trade | Productivity
& Costs
EST: Jobless
Claims | International
Trade | Productivity
& Costs
9:00am
EST: Fed’s
Plosser Speaks
EST: Fed’s
Plosser Speaks
10:00am
EST: Nominated
Fed Chairperson Yellen’s Confirmation Hearing
EST: Nominated
Fed Chairperson Yellen’s Confirmation Hearing
11:00am
EST: Crude
Oil Inventories
EST: Crude
Oil Inventories
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 this morning at 8:30am EST is considered Red-Star
news which means we will expect to see more people participating with more
volume, volatility and trading opportunities this morning. Red-Star news tells us to expect
larger-than-average moves in the price-action so we will always look to hold a
runner profit-target on days like today.
news which means we will expect to see more people participating with more
volume, volatility and trading opportunities this morning. Red-Star news tells us to expect
larger-than-average moves in the price-action so we will always look to hold a
runner profit-target on days like today.
Later in the session we are going to have everyone paying
attention to the 10:00am EST confirmation hearing for the new fed Chairperson
Yellen. Although the commentary was
leaked ahead of the hearing today, we know most traders will be distracted by
this, so we expect to see a sluggish market personality around that time this
morning.
attention to the 10:00am EST confirmation hearing for the new fed Chairperson
Yellen. Although the commentary was
leaked ahead of the hearing today, we know most traders will be distracted by
this, so we expect to see a sluggish market personality around that time this
morning.
Which markets will
be affected by this news the most today?
be affected by this news the most today?
All of our favorite Futures markets are going to be affected
by today’s news.
by today’s news.
Currencies and Gold
will be affected by International Trade and Janet Yellen as that will stir the
discussion for Fed-Tapering. We have
already seen a tremendously-positive reaction from Equity markets overnight
after reading Yellen’s dovish comments, so we can expect the e-mini’s to be
very active today as well.
will be affected by International Trade and Janet Yellen as that will stir the
discussion for Fed-Tapering. We have
already seen a tremendously-positive reaction from Equity markets overnight
after reading Yellen’s dovish comments, so we can expect the e-mini’s to be
very active today as well.
Crude Oil Inventories are scheduled to be released today at
11am EST, so we know that Crude Oil will be moving ahead of this news. Remember on inventory days to pay close
attention to the market personality in Crude Oil because sometimes it can be a
danger-zone.
11am EST, so we know that Crude Oil will be moving ahead of this news. Remember on inventory days to pay close
attention to the market personality in Crude Oil because sometimes it can be a
danger-zone.
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