December 12, 2013
- in Uncategorized by schooloftrade
Day Trading Morning Prep 12/12/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· Global Equities under
selling-pressure this morning as traders fear the Fed will taper
sooner-than-later
selling-pressure this morning as traders fear the Fed will taper
sooner-than-later
· Traders in the US are waiting for Red-Star
news from Retail Sales & Jobless Claims
news from Retail Sales & Jobless Claims
· Contract
Rollover today for E-mini’s and Currency Futures
Rollover today for E-mini’s and Currency Futures
· Gold
tumbles on Fed Tapering speculation
tumbles on Fed Tapering speculation
· E-Mini S&P is lower -.10%
· FDAX is lower -.80%
· US Dollar is higher +.05%
· Gold is lower -1.70% (1235.90)
· Crude Oil is higher +.30% (97.74)
· EUR/USD is lower -.02%
Economic News on the
schedule today:
schedule today:
 |
| Economic News Calendar |
8:30am EST: Jobless
Claims | Retail
Sales | Import
Prices
Claims | Retail
Sales | Import
Prices
10:00am EST: Business
Inventories
Inventories
The Fed has been hogging the spotlight so far this week, but
this morning all eyes turn to Jobs and Retail Sales news in the US as
speculation continues that the Fed will begin tapering stimulus as early as
next week.
this morning all eyes turn to Jobs and Retail Sales news in the US as
speculation continues that the Fed will begin tapering stimulus as early as
next week.
This morning begins with 2 Red-Star news events at 8:30am EST
which should get the party started bright and early in the session.
We begin with Retail Sales, where we will learn how strong the
Holiday shopping season has been with Retail Sales, and we will be looking
closely at the ‘ex-auto & ex-gasoline’ numbers within this report to get
the most accurate look at how the holiday shopping season has been for
retailers.
Holiday shopping season has been with Retail Sales, and we will be looking
closely at the ‘ex-auto & ex-gasoline’ numbers within this report to get
the most accurate look at how the holiday shopping season has been for
retailers.
In addition, we also hear from Jobless Claims this morning at
8:30am EST.
8:30am EST.
Econoday
Says…
Says…
“Initial jobless claims for the November 30
week fell a very sizable 23,000 to 298,000 for the lowest level since September
and the second lowest level of the recovery. In a reversal of prior special
factors tied to the government shutdown and counting problems in California,
initial claims have now fallen in 7 of the last 8 weeks with the 4-week average
down for 5 weeks in a row and now at 322,250 for the lowest level since
September. Jobless claims are coming down but holiday adjustments raise
uncertainty for the latest week. The
Labor Department warned that this year’s late Thanksgiving is clouding the
accuracy of its seasonal adjustments.”
week fell a very sizable 23,000 to 298,000 for the lowest level since September
and the second lowest level of the recovery. In a reversal of prior special
factors tied to the government shutdown and counting problems in California,
initial claims have now fallen in 7 of the last 8 weeks with the 4-week average
down for 5 weeks in a row and now at 322,250 for the lowest level since
September. Jobless claims are coming down but holiday adjustments raise
uncertainty for the latest week. The
Labor Department warned that this year’s late Thanksgiving is clouding the
accuracy of its seasonal adjustments.”
Later in the session today we hear from
Business Inventories, which should keep the price-action moving into the lunch
session in the US as we wrap up the morning.
Business Inventories, which should keep the price-action moving into the lunch
session in the US as we wrap up the morning.
Are any of these
Red-Star news events today?
Red-Star news events today?
Yes, the first two news reports at 8:30am EST are considered Red-Star
news which means (assuming nothing else happens) we will see more trading
opportunities during this time than any other time in today’s session. Look for patterns around this time, and
remember that we always want to hold a runner profit-target when we trade
during Red-Star news because the moves in price-action can be tremendous.
news which means (assuming nothing else happens) we will see more trading
opportunities during this time than any other time in today’s session. Look for patterns around this time, and
remember that we always want to hold a runner profit-target when we trade
during Red-Star news because the moves in price-action can be tremendous.
Which markets will
be affected by this news the most today?
be affected by this news the most today?
This week all eyes have been on the Fed and the possibility
of a tapering in the month of December which has ALL our markets moving
well. We are going to be watching
markets for high-percentage-trades this morning and we shouldn’t have any
trouble finding them.
of a tapering in the month of December which has ALL our markets moving
well. We are going to be watching
markets for high-percentage-trades this morning and we shouldn’t have any
trouble finding them.
 |
| DAX Anchor |
FDAX Futures are moving
lower this morning;
we are looking for selling-opportunities with new lower-lows using our scalping-strategy.
lower this morning;
we are looking for selling-opportunities with new lower-lows using our scalping-strategy.
 |
| Gold Anchor |
Gold is moving lower
this morning; we are
looking for selling-opportunities at this time at resistance levels overhead
and with new lower-lows.
this morning; we are
looking for selling-opportunities at this time at resistance levels overhead
and with new lower-lows.
 |
| Crude Oil Anchor |
Crude Oil is trying to
turn the corner to bullish this morning. The long-term trend is
bearish but in the short term we have buyers trying to take back control. We are selling Crude Oil until we can get and
stay above the 98.00 area.
turn the corner to bullish this morning. The long-term trend is
bearish but in the short term we have buyers trying to take back control. We are selling Crude Oil until we can get and
stay above the 98.00 area.
 |
| Euro Anchor |
The Euro is moving
higher in the long-term trend; however, in the short term we’ve seen the sellers take
control. We will start looking for selling-opportunities
below the 1.3750 area, and in the meantime we are looking for buying-opportunities.
higher in the long-term trend; however, in the short term we’ve seen the sellers take
control. We will start looking for selling-opportunities
below the 1.3750 area, and in the meantime we are looking for buying-opportunities.
 |
| Mini Russell anchor |
Mini-Russell is bearish
in the long-term trend this morning so we are going to be selling at resistance and with new lower-lows
this morning until we get above the 1104.0 area at which time we can start
looking for buying opportunities.
in the long-term trend this morning so we are going to be selling at resistance and with new lower-lows
this morning until we get above the 1104.0 area at which time we can start
looking for buying opportunities.
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