Monday, November 18, 2013

Day Trading Morning Prep 11/18/13;

7:30am EST

Focus-Points this morning:
·       Crude Oil Futures will roll forward to the 01-14 contract later in the session today, sharing volume with the 12-13
·       Traders prepare ahead of OPEX Week in US Markets, Wednesday through Friday to be on our radar
·       Euro-zone Trade Balance hits ALL TIME HIGHS for any September since the launch of the EU in 1999
·       Members of the EU beginning to believe the worst is behind them and that the conditions have improved drastically
·       Euro-zone equities are trading at all-time highs

·       Markets in China surge almost 3.00% on details released from last week’s Third Plenum reforms, real estate prices hit fresh record highs
·       Hang Seng is higher +.2.50% (23660)
·       FDAX is higher +.75% (9233)
·       E-Mini S&P is higher +.45% (1798)
·       E-Mini Dow is higher +.55% (15962)
·       EUR/USD is higher +.11% (1.3513)
·       Gold is lower -.25% (1284)
·       Crude Oil is lower -.21% (94.30)

Economic News on the schedule today:
Economic News 
This morning we will see news from the housing sector in the US, which has been on a bumpy ride over the last 6 months.  We saw a big improvement in the housing index earlier in the year, but recent numbers suggest the conditions may be changing.  In addition to housing, we will also hear from a handful of Fed speakers starting at 12:15pm EST today.

9:00am EST:             Treasury International Capital (TIC)
10:00am EST:           Housing Market Index
12:15pm EST:          William Dudley Speaks
1:30pm EST:             Charles Plosser Speaks

Housing Market Index
Housing Market Index - The NAHB housing market index for September was not quite as high as it was August but is still showing the best readings in nearly 10 years. The housing market index was at 55 for the October reading, versus 57 in September and a recovery peak of 58 in August. All three components, like the composite itself, were down 2 points in September. The weakest of the components, traffic at 44, has yet to pop over 50 this recovery which, given strength in sales, points to a concentration of high powered buyers. The 6-month sales outlook is the strongest of the components, at 62, with current sales at 58.

Are any of these Red-Star news events today?
No, none of the news on the calendar this morning is considered to be Red-Star news, which means this Monday morning is expected to be a little sluggish as we get started.  We will assume today will be a range-bound market without any major news so we will look for trading opportunities that fade-the-breakouts of the trading-range we are in.  Keep an eye on the price action around the news times this morning and be ready to take your profit and run.

Which markets will be affected by this news the most today?
Housing news will impact all aspects of the markets this morning, we will be watching our favorite Futures markets for trading opportunities around the news events today.

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