Wednesday, November 6, 2013

Morning Prep 11/06/13;

7:30am EST

Focus-Points this morning:
·       Traders in the US focused on today’s Crude Oil Inventories & Leading Indicators
·       European equities continue to push higher on overnight news
·       Gold is higher +.75% (1,317.00)
·       Crude Oil is higher +.85% (94.17)
·       EUR/USD is higher +.25% (1.3511)
·       E-Mini Dow is lower -.15% (15,618)
·       E-Mini S&P I slower -.25% (1,793.00)
·       FDAX is higher +.40% (9,045.00)
·       Hang Seng is lower -.01% (23,036)

Economic News on the schedule today:

November 6, 2013
Leading indicators are catching up from the government shutdown and today's data are for September. But the petroleum status report is up-to-date and has been showing a string of inventory builds tied to a strong rise underway in domestic production.

8:30am EST:             Gallup Job Creation Index
10:00am EST:           Leading Indicators
10:30am EST:           Crude Oil Inventories

Are any of these Red-Star news events today?
No, none of the news events are considered to be Red-Star news this morning, although the Crude Oil Inventories will certainly be a major market-mover for Crude Oil traders, so pay close attention to Crude Oil around that time, and remember to always leave a runner.

Which markets will be affected by this news the most today?
We can expect to see Crude Oil price-action significantly affected by today’s news, so new traders should trade cautiously ahead of the news, and then wait for the reaction to the news at 1030am EST to tell us new directional-bias and then trade with the new short-term trend.

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