Wednesday, December 4, 2013

Day Trading Morning Prep 12/04/13;

7:30am EST

Focus-Points this morning:
·       Gold moving lower on bets the Fed will Taper earlier than expected
·       Crude Oil Futures rise on fears of US supply
·       European news disappoints, highlights ‘bumpy’ recovery in the EU
·       European equities struggle to rebound after 2 days of losses
·       Oil Ministers to attend OPEC meeting today in Vienna
·       Saudi Oil Minister says ‘oil market is in a good place for buyers and sellers’
·       Traders focused on the US ADP Employment Data at 8:15am EST today
·       Economic Calendar has three (3) Red-Star news events today

·       Hang Seng is lower -.75%
·       FDAX is even +0.00%
·       E-Mini Nasdaq is lower -.05%
·       E-Mini Dow is lower -.60%
·       EUR/USD is higher +.02%
·       Gold is lower -.65%
·       Crude Oil is higher +1.30%

Economic News on the schedule today:
This morning we have a busy schedule for economic news starting right after 8am EST with some important jobs data that will play into Friday’s Non-Farm Payroll news.  We will expect there to be a decent reaction to the ADP Report at 8:15am EST.

The ‘meat and potatoes’ of the morning will be from 8:30am through 10:30am EST today.  We have International Trade at 8:30am followed by New Home Sales at 10:00am which are both Red-Star news events and are sure to move the markets for us.

Later in the session we have Crude Oil Inventories, which means we need to trade Crude Oil cautiously ahead of this report and we will look for the best trading opportunities after 10:35am EST today on the ‘black gold’.

8:15am EST:             ADP Employment Report
8:30am EST:           International Trade
10:00am EST:         New Home Sales
10:00am EST:           ISM Non-Mfg Index
10:30am EST:           Crude Oil Inventories
2:00pm EST:             Beige Book

This afternoon we hear from the Beige Book, which is a very important leading indication to the next Fed Meeting on the 18th of December.  We know traders will be listening closely to see what the Fed is thinking 2 weeks ahead of their last meeting of 2013.

Are any of these Red-Star news events today?
Yes, we have 2 major Red-Star news events this morning.  The first is at 8:30am EST with International Trade and the second is at 10:00am EST with New Home Sales.  Both of these reports will move the markets we trade and we will be paying close attention around those times. 

Remember, when you have Red-Star news on the schedule you know there is the potential for a large move in the price-action so we want to define the new short-term trend after the news is released and trade in the direction with a runner profit-target to catch the big move.

Which markets will be affected by this news the most today?
All markets are expected to be affected by this news today, however, Crude Oil will be the market that is adversely affected the most.  Wednesday’s are tough on Crude Oil traders before the release of inventories at 10:30am EST so stay patient trading Crude Oil until after 10:35am EST.

We continue to hear the words ‘fed taper’ from every news source, analyst and trader right now which tells us that Gold and the Dollar-Index are going to be moving this week so keep your eyes and ears open for trading opportunities on almost every market.

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