Traders Return from Holiday, ECB President in Spotlight

The James’ Report:  Day Trading Strategies for Professional Traders

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The Great Gift; Every professional trader has one thing in common, they all began with lofty goals for their trading careers, and stuck to their plan to achieve those goals.  The great gift to every trader is the world of opportunity that comes our way every morning we open our charts and follow our trading plan.  As traders we have unlimited potential, and when used properly, with pre-determined goals and a plan of attack to accomplish them,  we can achieve remarkable results.  What’s your trading goal today?

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News from Around the Globe Overnight:

– Monday morning in the US, returning from Holiday, no Major News before 930am EST, we will have to stay patient at the Open.

– EU News overnight disappoints

– EU Finance Ministers begin two-day meeting in Brussels. One goal is to determine Spain bailout conditionality 
– Japan’s Current account surplus smallest since 1985. Machine Tool orders register biggest drop in 5 years.

– After opening the session mixed, European equity indices are now mostly in negative territory. Spain’s IBEX-35 has led the equity losses, as banks are trading lower (Spain’s 10-yr yield has moved back above 7%). Resource related companies are trading lower amid continued concerns about the outlook for global growth. Looking ahead, traders are expected to focus on the later today EU finance ministers meeting at which the bailout for Spain’s banks is expected to be discussed further. Ahead of the meeting, it was speculated that EU officials could ask Spain to create a “bad bank” as part of the restructuring measures for country’s banking system. US earnings will also be in focus this week, with financial results due from Alcoa (July 9th) and JP Morgan (July 13th).

read the complete morning prep
here