December 13, 2013
- in Uncategorized by schooloftrade
Day Trading Morning Prep 12/13/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· Contract
Rollover today for e-mini’s and currency Futures
Rollover today for e-mini’s and currency Futures
· Next Week is Quadruple
Witching, 3rd week of December
Witching, 3rd week of December
· Equities bullish going into the US
morning session
morning session
· Crude Oil bearish ahead of re-opening
of Libya’s biggest port
of Libya’s biggest port
· Markets pause ahead of the upcoming FOMC
Meeting next Week
Meeting next Week
· EUR/USD is lower -.25%
· Gold is higher +.50% (1230.90)
· Crude Oil is lower -.45% (97.05)
· E-Mini S&P is higher .35%
· FDAX is higher +.25%
Economic News on the
schedule today:
schedule today:
 |
| Economic News Worksheet |
8:30am EST: Producer
Price Index (PPI)
Price Index (PPI)
This morning we head into a Friday trading session, which
means we need to be watching the clock.
Friday’s seem to always be a very quick session with volume entering the
market early in the session and then tapering off quickly after 11am EST.
means we need to be watching the clock.
Friday’s seem to always be a very quick session with volume entering the
market early in the session and then tapering off quickly after 11am EST.
For that reason, we look forward to today’s
news at 8:30am EST and then we will set our alarm clocks for 11am EST and begin
to look for clues that the traders are leaving their desks to start the
weekend.
news at 8:30am EST and then we will set our alarm clocks for 11am EST and begin
to look for clues that the traders are leaving their desks to start the
weekend.
Are any of these
Red-Star news events today?
Red-Star news events today?
Yes, today’s news at 8:30am is Red-Star news which means we
can expect to see more volume, volatility and trading opportunities occur
around this time of the session. We try
and hold a ‘runner’ profit-target on days with Red-Star news because we know
there is likely going to be some ‘fireworks’ in the markets we trade.
can expect to see more volume, volatility and trading opportunities occur
around this time of the session. We try
and hold a ‘runner’ profit-target on days with Red-Star news because we know
there is likely going to be some ‘fireworks’ in the markets we trade.
According to Econoday, The producer price index in October declined 0.2 percent
after dipping 0.1 percent the month before. The core rate, which excludes both
food and energy, firmed to 0.2 percent after rising 0.1 percent in September.
Food prices rebounded 0.8 percent after falling 1.0 percent in September.
Energy fell 1.5 percent, following a gain of 0.5 percent in September. Gasoline
prices dropped 3.8 percent in October, following a dip of 0.1 percent the month
before. For the core, leading the October advance, prices for passenger cars
climbed 1.7 percent. By contrast, the index for light motor trucks edged down
0.1 percent.
after dipping 0.1 percent the month before. The core rate, which excludes both
food and energy, firmed to 0.2 percent after rising 0.1 percent in September.
Food prices rebounded 0.8 percent after falling 1.0 percent in September.
Energy fell 1.5 percent, following a gain of 0.5 percent in September. Gasoline
prices dropped 3.8 percent in October, following a dip of 0.1 percent the month
before. For the core, leading the October advance, prices for passenger cars
climbed 1.7 percent. By contrast, the index for light motor trucks edged down
0.1 percent.
Which markets will
be affected by this news the most today?
be affected by this news the most today?
Today’s news from Producer Price Index correlates to Gold and
other commodities because of the inflationary information that it
contains. Inflation is something the Fed
and most analysts will be watching because the sign of inflation is the key to
raise interest rates to slow down the economy, which is also what the Fed is
trying to accomplish with the ‘tapering’ we keep hearing about on the
news.
other commodities because of the inflationary information that it
contains. Inflation is something the Fed
and most analysts will be watching because the sign of inflation is the key to
raise interest rates to slow down the economy, which is also what the Fed is
trying to accomplish with the ‘tapering’ we keep hearing about on the
news.
Bottom line, today’s news will
affect all the commodities markets, but we will be watching Gold very closely
for trading opportunities.
affect all the commodities markets, but we will be watching Gold very closely
for trading opportunities.
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Crude Oil Futures:
VIP Chart:
 |
| Crude Oil VIP |
Our VIP Chart gives us bearish clues this morning. We can see 2-day and closing print clues and
if we open this morning below 97.20 we have proof the sellers not only were in
control on Thursday but they have maintained control going into Friday’s trading
session.
if we open this morning below 97.20 we have proof the sellers not only were in
control on Thursday but they have maintained control going into Friday’s trading
session.
Anchor Chart:
 |
| Crude Oil Anchor 1 |
Price-action is moving lower on our anchor chart this
morning. We can see a bearish price-channel
along with lower-lows and lower-highs telling us to look for selling-opportunities
this morning.
morning. We can see a bearish price-channel
along with lower-lows and lower-highs telling us to look for selling-opportunities
this morning.
 |
| Crude Oil Anchor 2 |
Zones Chart:
 |
| Crude Oil Zones |
Our zones chart shows us the sideways-trading-range we have
been seeing over the last few hours coming out of Europe. We have a buy-zone below us at 96.62 which we
will be using as a profit-target for our selling-opportunities this morning,
and an easy place to look for a slingshot entry pattern to get long for a price-reversal. If price rises higher this morning, which
often happens on a day with a gap-down before it goes lower, we look for selling-opportunities
around the trend-line resistance and the sell-zone at 97.54, 97.65 and 97.81.
been seeing over the last few hours coming out of Europe. We have a buy-zone below us at 96.62 which we
will be using as a profit-target for our selling-opportunities this morning,
and an easy place to look for a slingshot entry pattern to get long for a price-reversal. If price rises higher this morning, which
often happens on a day with a gap-down before it goes lower, we look for selling-opportunities
around the trend-line resistance and the sell-zone at 97.54, 97.65 and 97.81.
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