October 28, 2013
- in Uncategorized by schooloftrade
Morning Prep 10/28/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· European clocks ‘Fall back’ over the
weekend, US clocks will adjust on November 3rd
weekend, US clocks will adjust on November 3rd
· South Korea’s consumer confidence
hits 17-month high
hits 17-month high
· The UK battered by the worst storm in
10 years, resulting in low trading volume
10 years, resulting in low trading volume
· Moody’s predicts this year to be the
worst in last 5 years for Holiday Shopping due to Govt Shutdown
worst in last 5 years for Holiday Shopping due to Govt Shutdown
· Traders prepare for US FOMC Meeting
on Wednesday, anticipating some more ‘fed speak’ about tapering, interest rates
on Wednesday, anticipating some more ‘fed speak’ about tapering, interest rates
· Gold is lower -.20%
· Crude Oil is lower -.25%
· Euro is at breakeven +0.00%
· E-Mini Dow is higher +.40%
· E-Mini S&P is higher +.45%
· FDAX is higher +.02%
· Hang Seng is higher +.50%
Economic News on the
schedule today:
schedule today:
Today we have Red-Star news to kick-off the week ahead, and
we start with more news from manufacturing.
we start with more news from manufacturing.
Today’s
industrial production report will offer the first definitive look at
manufacturing shipments in September, a month where indications from private
reports point to a solid monthly gain.
industrial production report will offer the first definitive look at
manufacturing shipments in September, a month where indications from private
reports point to a solid monthly gain.
9:15am EST: Industrial
Production
Production
10:00am EST: Pending
Home Sales Index
Home Sales Index
10:30am EST: Dallas
Fed Mfg Survey
Fed Mfg Survey
What to expect this week:
The Fed takes center stage. On
Wednesday the Fed will announce whether it is going to start tapering bond
purchases. The consumer sector is the next focus. Retail sales and motor
vehicle sales softened recently and updates for September and October, respectively,
are scheduled. Also, we get an early peek at the possible payroll number with
this week’s ADP report. Key numbers for manufacturing and housing also hit the
wires.
Wednesday the Fed will announce whether it is going to start tapering bond
purchases. The consumer sector is the next focus. Retail sales and motor
vehicle sales softened recently and updates for September and October, respectively,
are scheduled. Also, we get an early peek at the possible payroll number with
this week’s ADP report. Key numbers for manufacturing and housing also hit the
wires.
Markets we are
watching this Morning
watching this Morning
 |
| Euro Anchor |
Euro Currency
Futures:
Futures:
The Euro is trading sideways this morning with flat moving-averages
on the anchor chart and off the recent highs of 1.3835. We can see a bullish price-channel and major support
levels waiting for us to buy the lows if this price-action heads lower this
morning.
on the anchor chart and off the recent highs of 1.3835. We can see a bullish price-channel and major support
levels waiting for us to buy the lows if this price-action heads lower this
morning.
 |
| Gold Anchor |
Gold Futures:
Gold is trading sideways over the last few days, between its
recent highs at 1356.0 and recent swing-low at 1346.0. We can see that price-action is flat on the
anchor chart, so we will be looking to fade-the-breakout of the range until the
market personality changes.
recent highs at 1356.0 and recent swing-low at 1346.0. We can see that price-action is flat on the
anchor chart, so we will be looking to fade-the-breakout of the range until the
market personality changes.
 |
| Crude Oil Anchor |
Crude Oil Futures:
Crude Oil has been pushing higher over the last few days, but
we can see price-action is about to test some serious resistance levels
overhead with a trend-line, and multiple sell-zones above us today.
we can see price-action is about to test some serious resistance levels
overhead with a trend-line, and multiple sell-zones above us today.
 |
| FDAX Anchor |
FDAX Futures:
FDAX is moving higher this morning, and has recently pulled
back to test key support levels below it.
We will be watching
back to test key support levels below it.
We will be watching
