October 29, 2013
- in Uncategorized by schooloftrade
Morning Prep 10/29/13; SchoolOfTrade.com
7:30am EST
Focus-Points this
morning:
morning:
· Japan Sept Retail Trade hits 16-month
high
high
· India Central Bank raises rates to
combat inflation, 2nd time in a month
combat inflation, 2nd time in a month
· Spain Retail Sales registers first
rise in 36-months
rise in 36-months
· UK Mortgage approvals hit 5-year highs
· Italy Q3 GDP contracts again, 9th
straight quarterly decline
straight quarterly decline
· (US) Apple declines on weak quarterly
margins
margins
· (US) Earning Season continues with
Mokia, Pfizer, Valero
Mokia, Pfizer, Valero
· USD pushes higher ahead of FOMC
Meeting Wednesday
Meeting Wednesday
· Gold is lower -.50%
· Crude Oil is lower -.50%
· EUR/USD is lower -.20%
· E-Mini S&P is igher +.15%
· FDAX is higher +.18%
Economic News on the
schedule today:
schedule today:
This morning we have Red-Star news starting at 8:30am EST which
should give us plenty of trading opportunities after we open the live
trade-room at 8:00am EST.
should give us plenty of trading opportunities after we open the live
trade-room at 8:00am EST.
Retail
sales will offer key data on consumer spending in September, a month that was a
soft one for job growth. Consumer confidence will offer clues on how consumer
spending is doing this month, and also clues on how job growth is doing.
sales will offer key data on consumer spending in September, a month that was a
soft one for job growth. Consumer confidence will offer clues on how consumer
spending is doing this month, and also clues on how job growth is doing.
Multi-Day: FOMCMeeting Begins
8:30am
EST: Producer
Price Index (PPI)
EST: Producer
Price Index (PPI)
8:30am
EST: Retail
Sales
EST: Retail
Sales
9:00am
EST: Case-Shiller
Home Price Index
EST: Case-Shiller
Home Price Index
10:00am
EST: Business
Inventories
EST: Business
Inventories
10:00am
EST: Consumer
Confidence
EST: Consumer
Confidence
TOMORROW: FOMC
Meeting Announcement
Markets we are
watching this Morning
watching this Morning
Euro Currency
Futures:
Futures:
 |
| Euro Anchor Chart |
The Euro is moving lower this morning, testing key support at
3753 and 3744 before falling lower to the next support level at 3722.
3753 and 3744 before falling lower to the next support level at 3722.
Gold Futures:
 |
| Gold Anchor Chart |
Gold is moving lower this morning on the anchor chart,
testing major trend-line support and with support levels below at 1341.8. We will expect to see price-action have a
tough job to push through this support, so we will be watching closely for the
reaction.
testing major trend-line support and with support levels below at 1341.8. We will expect to see price-action have a
tough job to push through this support, so we will be watching closely for the
reaction.
Crude Oil Futures:
 |
| Crude Oil Anchor Chart |
Crude Oil is moving lower this morning on the anchor chart,
and we can see a recent break of a support trend-line as prices move lower to
key support at 97.85. If we can break
(and stay) below 97.66 swing-low we should have some easy selling-opportunities
this morning.
and we can see a recent break of a support trend-line as prices move lower to
key support at 97.85. If we can break
(and stay) below 97.66 swing-low we should have some easy selling-opportunities
this morning.
FDAX Futures:
 |
| FDAX Anchor Chart |
The FDAX is moving higher this morning, trading in the middle
of a bullish price-channel on the anchor chart.
We can see price-action ‘bounced’ off the 8986.4 support level and is
moving higher. An easy profit-target above
us at 9015.0 and 9032.0 is waiting for us this morning.
of a bullish price-channel on the anchor chart.
We can see price-action ‘bounced’ off the 8986.4 support level and is
moving higher. An easy profit-target above
us at 9015.0 and 9032.0 is waiting for us this morning.
