May 31, 2012
- in Uncategorized by schooloftrade
Traders Finish the month with LOTS of News to Work with
05 31 12
Traders Finish the Month with LOTS of News
Professional traders always remember one important fact; the present is always a grand total of the past. This moment right now is the sum of all your experiences, all the fears and opinions, and everyone that has molded us little by little along the way. The markets are exactly the same in the sense that what’s happening right now is the byproduct of what happened over the past 24 hours, 2 hours, 60 seconds, or less. Furthermore, if we try and fight the fact that the present may not ‘look’ as we have desired we will always run into resistance. Professional traders understand that we cannot change the market as it trades right now, but we CAN read the market every step of the way this morning and use all the little things adding up to big market personality clues when it comes time to take our first trade. —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
—————————————————————————————
What happened Overnight:
– Month-end flows favoring profit-taking from the recent extreme moves in various asset classes; Gold -6.1% in May, worst monthly performance in 13 years, oil off over 15% in period
– India GDP below expectations
– Swiss Q1 GDP exceeds expectations
– German data mixed in session with better retail sales but slighter weaker unemployment change
– India GDP below expectations
– Swiss Q1 GDP exceeds expectations
– German data mixed in session with better retail sales but slighter weaker unemployment change
– European equity indices opened the session higher, as dealers have reported low trading volumes into month-end. Banks opened the session higher following yesterday’s losses, amid the declines in Spanish and Italian government bond yields. In notable commentary, ECB President Draghi expressed support for a Euro Zone deposit guarantee fund.
