Monday, March 24, 2014

Day Trading Crude Oil, Gold, E-Mini Russell | SchoolOfTrade Newsletter 03/24/14




“Out of clutter, find Simplicity. From discord, find Harmony. In the middle of difficulty lies Opportunity.”–Albert Einstein



Reflections from Today:
· Markets Today:
o   Crude Oil:
§  Trending Sideways
§  30 ticks of range
§  +0.06%
§  Closing-print @ 99.42
o   Gold:
§  Trending Lower
§  272 ticks of range
§  -1.88%
§  Closing-print @ 1309.4
o   Mini-Russell:
§  Trending Lower
§  308 ticks of range
§  -1.10%
§  Closing-print @ 1173.7
·       News Today:
o   Markets react to disappointing Manufacturing News
o   (CH) Overnight, HSBC Manufacturing shows 5th month of decline
§  3rd month < 50 (contraction)
§  Chinese govt said to be preparing stimulus
o   (US) 9:45am EST, PMI Manufacturing Index; lower than expected
§  Confirms weather-related weakness is behind us
o   “Chess Match” continues between Crimea, Ukraine & Russia
·       This Day In History:
o   March 24, 1603:  Queen Elizabeth I dies at age 69 after ruling England of more than 40 years
o   March 24, 1958:  Rock ‘n’ Roll star, Elvis Presley joins the US Army for 2 years
o   March 24, 1989:  Oil tanker, Exxon Valdez, runs aground, spilling 240,000 barrels of oil, one of the worst spills in last 75 years.
o   March 24, 2000:  S&P 500 hits record-high of 1527.46, with a market value of $13 Trillion.  It then loses 25% over 12 months, losing $2.5 Trillion in value
·       News Tomorrow
o   (EUR) Major News starting @ 5:00am EST
o   (US) 9:00am EST:  Home Price Index
o   (US) 10:00am EST: New Home Sales (Red-Star News)
o   (US) 10:00am EST:  Consumer Confidence

Charts are posted below!



Crude Oil:






Gold:





Mini-Russell :






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