Thursday, October 23, 2014

Morning Prep October 23, 2014

MARKETS TODAY

  • Index futures are trading higher this morning.
  • Crude oil is trading higher this morning.
QUOTE OF THE DAY
  • "The whole secret of life is to be interested in one thing profoundly and in a thousand things well."
NEWS TODAY
  • Initial Claims
  • Continuing Claims
  • FHFA Housing Price Index
  • Leading Indicators
  • Natural Gas Inventories
CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 80.23 and 79.58
  • This morning I am watching /CL trade off of its 120 period EMA. I am looking for price to continue lower down to demand around 80.23 and 79.58. I am looking for selling opportunities today.









E-MINI RUSSELL
/TF 60 Minute
  • Trend: Bullish
  • Targets: 1111.3 and 1075.9
  • This morning I am watching /TF trade in a key Fibonacci retracement zone. I am looking for price to continue higher or lower up to supply around 1111.3 or down to demand around 1075.9. I am looking for buying and selling opportunities today.


Wednesday, October 22, 2014

Morning Prep October 22, 2014

MARKETS TODAY

  • Index futures are trading sideways this morning.
  • Crude Oil is trading higher this morning.
QUOTE OF THE DAY
  • "They're only truly great who are truly good."
NEWS TODAY
  • MBA Mortgage Index
  • CPI
  • Core CPI
  • Crude Inventories
CRUDE OIL
/CL 60 Minute
  • Trend: Neutral
  • Targets: 84.55 and 81.28
  • This morning I am watching /CL trade in a tight price wedge between supply and demand. I am looking for price to break out to supply around 84.55 or demand around 81.28. I am looking for buying and selling opportunities today.








E-MINI S&P 500
/ES 60 Minute
  • Trend: Bullish
  • Targets: 1891.50 and 1967.75
  • This morning I am watching /ES trade in a small sideways range after a big run up in the overnight session. I am looking for price to move above the range to supply at 1967.75 or below the range to demand around 1891.50. I am looking for buying and selling opportunities today.


Tuesday, October 21, 2014

Trading Wave Patterns on Crude Oil Futures

Morning Prep October 21, 2014

MARKETS TODAY

  • Index futures are trading higher this morning.
  • Crude Oil is trading lower this morning.
QUOTE OF THE DAY
  • "Every cloud has its silver lining but it is sometimes a little difficult to get it to the mint."
NEWS TODAY
  • Existing Home Sales - 10:00am EST
CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 81.85 and 81.28
  • This morning I am watching /CL trade higher into supply. I am looking for price to bounce there and head lower to demand around 81.85 and 81.28. I am looking for selling opportunities today.









E-MINI RUSSELL
/ES 60 Minute
  • Trend: Bullish
  • Targets: 1891.50 and 1924.75
  • This morning I am watching /ES head higher out of demand. I am looking for a pullback to demand around 1891.50 before heading higher to supply around 1924.75. I am looking for buying and selling opportunities today.



Monday, October 20, 2014

Morning Prep October 20, 2014

MARKETS TODAY

  • Index futures are trading lower this morning.
  • Crude Oil is trading sideways this morning.
QUOTE OF THE DAY
  • "There are two ways of spreading light: to be the candle or the mirror that reflects it."
NEWS TODAY
  • No economic news today.

CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 80.32
  • This morning I am watching /CL trade sideways in between supply and demand. I am looking for a strong push below the range down to demand around 90.32. I am looking for selling opportunities today.








E-MINI S&P 500
/ES 60 Minute
  • Trend: Bearish
  • Targets: 1855.50
  • This morning I am watching /ES trade lower out of supply. I am looking for a continuation lower down to demand around 1855.50. I am looking for selling opportunities today.


Friday, October 17, 2014

Morning Prep October 17, 2014

MARKETS TODAY

  • Index futures are trading higher this morning.
  • Crude oil is trading sideways this morning.
QUOTE OF THE DAY
  • "We make war that we may live in peace."
NEWS TODAY

  • Housing Starts
  • Building Permits
  • Mich Sentiment

CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 83.00 and 80.31
  • This morning I am watching /CL trade lower out of supply. I am looking for price to continue lower to demand around 83.00 and 80.31. I am looking for selling opportunities today.










E-MINI S&P 500
/ES 60 Minute
  • Trend: Bearish
  • Targets: 1861.50 and 1855.50
  • This morning I am watching /ES trade lower off of its EMA and out of supply. I am looking for price to continue lower down to support at 1861.50 and overall demand at 1855.50. I am looking for selling opportunities today.


Thursday, October 16, 2014

Morning Prep October 16, 2014

MARKETS TODAY

  • Index futures are trading lower this morning.
  • Crude Oil is trading lower this morning.
QUOTE OF THE DAY
  • "Good advice is always certain to be ignored, but that's no reason not to give it."
NEWS TODAY

  • Initial Claims
  • Continuing Claims
  • Industrial Production
  • Capacity Utilization
  • Philadelphia Fed
  • NAHB Housing Market Index
  • Natural Gas Inventories
  • Crude Inventories
  • Net Long-Term TIC Flows

CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 82.04
  • This morning I am watching /CL trade in a choppy range. I am looking for price to push above supply and back up to supply around 82.04. If the lows are broken there will more than likely be some continued downside, but I am looking for buying opportunities today.









E-MINI S&P 500
/ES 60 Minute
  • Trend: Bearish
  • Targets: 1848.75 and 1795.0
  • This morning I am watching /ES trade in demand around yesterday's lows. I am looking for price to continue higher out of demand up to supply around 1848.75. If price breaks the lows I am going to be looking for 1795.0. I am looking for buying and selling opportunities today.


Wednesday, October 15, 2014

Morning Prep October 15, 2014

MARKETS TODAY

  • Index futures are trading lower this morning.
  • Crude Oil is trading lower this morning.
QUOTE OF THE DAY
  • MBA Mortgage Index
  • Retail Sales
  • Retail Sales ex. Auto
  • PPI
  • Core PPI
  • Empire Manufacturing
  • Business Inventories
  • Fed's Beige Book

CRUDE OIL
/CL 60 Minute
  • Trend: Bearish
  • Targets: 81.84, 84.40 and 85.29
  • This morning I am watching /CL trade higher out of supply. I am looking for price to continue higher up to resistance around 81.84 and 84,40. If price can break those levels I am looking for a test of supply around 85.29. I am looking for buying opportunities today.









E-MINI S&P 500
/ES 60 Minute
  • Trend: Bearish
  • Targets: 1857.25 and 1866.75
  • This morning I am watching /ES trade lower into demand. I am looking for a bounce here up to 1857.25 and 1866.75 before looking back short. I am looking for buying and selling opportunities.