Friday, November 15, 2013

Day Trading Morning Prep 11/15/13;

7:30am EST

Focus-Points this morning:
·       Important developments from China impacting global markets overnight
·       EU Commission issues warning to Italy & Spain regarding its budget woes
·       Gold moving lower overnight on belief the US Fed will not taper until 2014
·       New Fed Chairperson Yellen says she will continue to promote strong economic recovery, reiterates that QE remains ‘data-dependent’ and will not continue forever.  Also says the all-time highs in the stock market do not look like a ‘bubble’

·       Hang Seng is higher +1.70% (23033)
·       FDAX is higher +.25% (9171)
·       E-Mini S&P is higher +.50% (1790)
·       E-Mini Dow is higher +.35% (15876)
·       EUR/USD is lower -.01% (1.3457)
·       Gold is lower -.35% (1282)
·       Crude Oil is higher +.15% (93.89)

Economic News on the schedule today:

November 15, 2013
Today’s news will focus on manufacturing in the US, and will give us a glimpse into how the beginning of 2014 may look.  Data over the last few months has been mixed in the manufacturing sector, and today’s Industrial Production news will be on everyone’s radar.

8:30am EST:             Empire State Mfg Survey | Import Export Prices
9:15am EST:             Industrial Production

Are any of these Red-Star news events today?
Yes, the Industrial Production report today at 9:15am EST is considered to be Red-Star news which means there will be more trading opportunities around this time of the session.  We look for more volatility around these types of news events, and a Red-Star news event always tells us to leave a runner profit-target to catch the big moves that often follow it.

Which markets will be affected by this news the most today?
The manufacturing sector has impact on almost the entire global economy, so all markets will react to today’s news.  If we had to focus on one market it would be Crude Oil (or Natural-Gas) this morning because when we think about manufacturing we think about factories that needs trucks and airplanes to ship those products they produce. 

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