Monday, July 28, 2014

3 Markets to SELL Short for Tues | SchoolOfTrade Newsletter 07/28/14

“If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude.” –Charles R. Swindoll

Today’s Newsletter:
·       Last Thursday:  Another monster winning trade called from last week’s Newsletter on Mini-Russell
·       Markets Today: everything moving lower ahead of Red-Star News this week
·       News for Tomorrow: Very light news day, 9am EST is first news of the session
·       Trading Opportunities: Selling Gold, Mini-Russell, and Crude Oil

Notes for Tonight’s Newsletter:

·       Markets moving conservatively ahead of Red-Star News later this week
·       Lot of news this week: 
o   End of July / Beginning of August
o   Non-Farm Payrolls & FOMC Meeting ahead of us
·       Gold Contract Rollover end of July

·       Contract Rollover 07/31/14
·       Highly-affected by Wednesday’s Pending FOMC
·       Trading quietly on top of the daily 200ema
·       $1300 big-round-number is a price-magnet
·       Anchor Chart 32:  Lower-lows tell us to look SHORT
·       Anchor Chart 16:  Selling below 1301.1
·       Target for the short @ 1287.5

Crude Oil:
·       Calming down after violence in the Middle East
·       Bearish market-personality last 3 sessions in the US
·       Trading just below $102 big-round-number, between support and resistance on the daily chart
·       Moving back towards $100 big-round-number
·       Anchor Chart 32 = Bearish & selling short
·       Anchor Chart 16 = targets at 101.15, 100.90 and 100.19

o   Short @ 1161.1, targets @ 1141.1 and 1130.3
o   Over $2,000 profit per contract!
·       Pushing lower today ahead of Wednesday’s FOMC / Friday’s Non-Farm Payrolls
·       Anchor Chart 32 = ready to sell short

·       Anchor Chart 16 = get below 1135.0,  targets below @ 1127.1, 1122.2 and 1117.3

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