Thursday, November 20, 2014

Morning Prep November 20, 2014

MARKETS TODAY

  • Index futures are trading lower this morning.
  • Crude oil is trading lower this morning.
QUOTE OF THE DAY
  • "What we play is life."
NEWS TODAY
  • Initial Claims
  • Continuing Claims
  • CPI
  • Core CPI
  • Existing Home Sales
  • Philadelphia Fed
  • Leading Indicators
  • Natural Gas Inventories
CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 75.15 and 73.63
  • This morning I am watching /CL trade higher out of demand. I am looking for price to continue up to supply around 75.15 before pushing back lower to 73.63. I am looking for buying and selling opportunities today.







E-MINI RUSSELL
/TF 60 Minute
  • Trend: Bullish
  • Targets: 1159.3 and 1145.4
  • This morning I am watching /TF trade lower into demand. I am looking for price to continue to hold here before pushing higher to supply around 1159.3. I will then be looking to sell price back down to support at 1145.4. I am looking for buying and selling opportunities today.


Wednesday, November 19, 2014

Morning Prep November 19, 2014

MARKETS TODAY

  • Index futures are trading lower this morning.
  • Crude oil is trading higher this morning.
QUOTE OF THE DAY
  • MBA Mortgage Index
  • Housing Starts
  • Building Permits
  • Crude Inventories
  • FOMC Minutes
CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 75.20 and 75.87
  • This morning I am watching /CL trade higher out of demand. I am looking for price to continue higher to test 75.20 and 75.87 before pushing back lower to new lows. I am going to be looking for buying and selling opportunities today. 









E-MINI RUSSELL
/TF 60 Minute
  • Trend: Bullish
  • Targets: 1160.5 and 1174.1
  • This morning I am watching /TF trade higher out of demand. I am looking for price to continue higher up to supply around 1174.1 before pushing back lower to 1160.5. I am looking for buying and selling opportunities today.


Tuesday, November 18, 2014

Morning Prep November 18, 2014

MARKETS TODAY

  • Index futures are trading higher this morning.
  • Crude oil is trading flat this morning.
QUOTE OF THE DAY
  • "We consume our tomorrows fretting about our yesterdays."
NEWS TODAY
  • PPI
  • Core PPI
  • NAHB Housing Market Index
  • Net Long-Term TIC Flows
CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 75.09 and 73.62
  • This morning I am watching /CL trade lower out of supply. I am looking for price to continue lower down to demand around 75.09 and 73.62. I am looking for selling opportunities today.












E-MINI RUSSELL
/TF 60 Minute
  • Trend: Bullish
  • Targets: 1188.2, 1174.1 and 1160.5
  • This morning I am watching /TF trade sideways around the 200 EMA. I am looking for price to continue higher up to supply at 1174.1 and 1188.2. If price fails at the 200 EMA I will be looking to sell down to demand at 1160.5. I am looking for buying and selling opportunities today.


Monday, November 17, 2014

Post-Market Recap November 17, 2014

CRUDE OIL
/CL 60 Minute

  • This morning I was looking for buying and selling opportunities on /CL, outside of the sideways range that price was trading in. Price continued to trade sideways for the remainder of the day and I did not take any trades. 









E-MINI RUSSELL
/TF 60 Minute

  • This morning I was looking for buying opportunities on /TF. Price came right up to my first target at 1174.0 supply, and rejected off that level. I then began looking for selling opportunities down to demand. 








TRADE OF THE DAY
/TF 4 NTRenkoCandle
  • This morning /TF came into a supply zone overhead and rejected the area strongly. I then started looking for selling opportunities and was able to enter with a wave pattern for a profit of 26 ticks per contract.



Morning Prep November 17, 2014

MARKETS TODAY

  • Index futures are trading lower this morning.
  • Crude oil is trading lower this morning.
QUOTE OF THE DAY
  • "Experience is the teacher of all things."
NEWS TODAY
  • Empire Manufacturing
  • Industrial Production
  • Capacity Utilization
CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 77.08 and 73.62
  • This morning I am watching /CL trade in a sideways range in between supply and demand. I am looking for price to break to the downside and look for selling opportunities down to demand at 73.62. If price pushes above the range that it is currently trading in, I will be looking to buy up to supply at 77.08.









E-MINI RUSSELL
/TF 60 Minute
  • Trend: Bullish
  • Targets: 1174.0 and 1188.2
  • This morning I am watching /TF trade higher out of demand around the lows of its price wedge. Price has come into a buy zone on our range chart so I am going to be looking for buying opportunities up to 1174.0 and 1188.2. 

Friday, November 14, 2014

Morning Prep November 14, 2014

MARKETS TODAY

  • Index futures are trading higher this morning.
  • Crude oil is trading higher this morning.
QUOTE OF THE DAY
  • "Give yourself something to work toward - constantly."
NEWS TODAY

  • Retail Sales
  • Retail Sales ex-auto.
  • Export Prices ex-ag.
  • Import Prices ex-oil
  • Mich Sentiment
  • Business Inventories

CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 75.69
  • This morning I am watching /CL trade higher out of demand. Price made new lows last night and I am looking for a bounce higher today. I am looking for price to test 75.69 before looking to sell down to new lows. I will be looking for buying and selling opportunities, with the selling opportunities being higher probability. 









E-MINI RUSSELL
/TF 60 Minute
  • Trend: Bullish
  • Targets: 1185.9
  • This morning I am watching /TF trade higher out of demand. I am looking for price to continue higher up to 1185.9. I am looking for buying opportunities today. Price has come into some resistance on the weekly chart, so I am going to trail my stop up tightly. 





Thursday, November 13, 2014

Morning Prep November 13, 2014

MARKETS TODAY

  • Index futures are trading higher this morning.
  • Crude oil is trading lower this morning.
QUOTE OF THE DAY
  • "There is nothing man will not attempt when great enterprises hold out the promise of great rewards." - Livy
NEWS TODAY

  • Initial Claims
  • JOLTS - Job Openings
  • Natural Gas Inventories
  • Crude Oil Inventories
  • Treasury Budget

CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 75.19, 77.08 and 77.69
  • This morning I am watching /CL trade lower into demand. If price holds around here I am looking for a push higher up to supply around 77.98 and 77.69. If price fails at these levels I will be looking to sell retracements down to demand at 75.19. The best trades are going to be short, but I am looking for buying and selling opportunities today.








E-MINI RUSSELL
/TF 60 Minute
  • Trend: Bullish
  • Targets: 1181.9, 1179.8 and 1195.5
  • This morning I am watching /TF double top around the highs of its channel in supply. I am looking for price to pull back to 1181.9 and 1179.8 before looking to buy back up to new highs around 1195.5. I am looking for buying opportunities today.


Wednesday, November 12, 2014

Morning Prep November 12, 2014

MARKETS TODAY

  • Index futures are trading lower this morning.
  • Crude oil is trading lower this morning.
  • Volume should return to normal today. 
QUOTE OF THE DAY
  • "I want to put a ding in the universe." - Steve Jobs
NEWS TODAY

  • MBA Mortgage Index
  • Wholesale Inventories
CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 78.15, 76.74 and 75.62.
  • This morning I am watching /CL trade sideways in supply around the middle of the price wedge. I am looking for price to push higher up to 78.15 before looking to sell down to 76.74 demand and an extension at 75.62. I am looking for selling opportunities today.









E-MINI RUSSELL
/TF 60 Minute
  • Trend: Neutral
  • Targets: 1174.4 and 1166.6
  • This morning I am watching /TF trade lower of the highs of last week. I am looking for price to continue lower, but first pull back to 1174.4 before looking to sell down to 1166.6. I am looking for selling opportunities today.