Monday, December 9, 2013

Day Trading Morning Prep 12/09/13;

7:30am EST

Focus-Points this morning:
·       Global markets are still reacting to last-Friday’s Non-Farm Payroll news
·       Equity Markets moving higher this morning after Friday’s bullish jobs report
·       Crude Oil trading at 6-week highs as China’s demand rises
·       Analysts speculate the next two weeks will be crucial for the Fed’s decision to taper.
·       Chinese exports surge, suggesting improvement in global consumption
·       George Soros rumored to be interested in Greece’s Eurobank
·       Fed Speakers dot the calendar this afternoon as they discuss last week’s Non-Farm Payroll report, important ahead of next week’s FOMC Meeting
Hang Seng is higher +.30%
·       FDAX is higher +.25%
·       E-Mini S&P is higher 1.12%
·       EUR/USD is higher +.20%
·       Gold is lower .15% 1227.30
·       Crude Oil is even -0.00% 97.65

Economic News on the schedule today:
Economic News Worksheet
This morning is the Monday following Non-Farm-Payroll-Friday which tells us that there will be a lot of ‘reaction’ from fund managers and speculators.  This morning we don’t have any major news on the schedule, but the calendar does have some important Fed Speakers later in the day to get things moving.

Fed speakers start at 12:30pm EST today and we know the price-action may be a little thin ahead of the opening-bell at 9:30am EST because there isn’t any major news to get traders to participate if they aren’t already.  Look for today to be a typical Monday, sluggish at the start as traders get back to their desks, but look for mid-morning moves ahead of today’s Fed speakers and then we will be watching closely this afternoon for high-percentage-trades as the Fed takes center stage.

12:30pm EST:          Jeffrey Lacker Speaks
12:50pm EST:          James Bullard Speaks
2:15pm EST:             Richard Fisher Speaks

Are any of these Red-Star news events today?
No, we do not have any Red-Star news on the schedule today, which means we will be taking profit-targets conservatively today and being aware that there may be less participation from traders this morning because it’s a Monday without any major news.  

We’ve been warned ahead of time, Monday without any news is a slow day waiting to happen, so let’s stay patient and make the price-action PROVE to us that it’s worth trading.

Which markets will be affected by this news the most today?
We know that last week’s Non-Farm Payroll news report has been trickling through the global markets over the weekend and today we should see more reaction from Equity markets (emini’s) and Gold will certainly be a mover to watch as ‘stimulus’ takes center stage ahead of next week’s FOMC meeting.

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