Wednesday, August 13, 2014

5 Ways to Trade LOW-VOLUME | SchoolOfTrade Newsletter 08/13/14

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"Only those who dare to fail greatly can ever achieve greatly." - Robert F. Kennedy.
Today’s Newsletter:
·       Markets Today: Low volume, sideways-trading-range, plenty of trading opportunities
·       News for Tomorrow:  Red-Star News in Europe and early in the US Session
·       Trading Opportunities:  buying lows, selling highs, biased to the short-side

Notes for Tonight’s Newsletter:

·       We’ve had an incredible week of trading opportunities even with such low volume!
·       Price-action was VERY slow today, but easy to trade if you stayed patient
·       Retail Sales came in soft (again) today in the US (worst report in 6 months)
·       Geo-political:  de-escalation of violence; diminishing concerns over a Russian invasion of Ukraine & US will NOT send ground-troops into Iraq
·       Trading volume today 10% below 3-month averages as summer-slowdown hits in 3rd week of August
·       Friday = OPEX

·       Long-Term Direction Bias = SHORT / NEUTRAL
·       Short-Term Directional Bias = SHORT / NEUTRAL
·       Fundamentals:  geo-political fears are easing as of today, giving little need for ‘shelter’ with gold and prices will go lower.
·       Daily Chart:  trading in the middle of the range, on top of the 200ema and looking very ‘balanced’ at this time.
·       32-Anchor Chart:  Sideways-trading-range from 1324.3 down to 1305.3.  Buy lows, sell highs, avoid the middle until this market-personality changes.
·       16-Anchor Chart: descending triangle pattern tells us to sell the highs and take our profit-targets at the lows.
·       Profit-targets above @ 1322.2, 1324.3, 1334.4
·       Profit-targets below @ 1305.7, 1302.7, 1300.0, 1297.5, 1295.6

Crude Oil:
·       Long-Term Direction Bias = SHORT / NEUTRAL
·       Short-Term Directional Bias = SHORT / NEUTRAL
·       Fundamentals:  Euro is under pressure, which is pushing the US-dollar index higher, which is creating downward pressure on Crude Oil prices.  On top of that, de-escalation of violence in the Middle East isn’t giving buyers any confidence to buy these lows.
·       Daily Chart:  stuck at the lows of the long-term bull price channel, around the big-round-number of $97/barrel and on top of the major buy-zone at 97.12.  There is a LOT of support at this area.
·       32-Anchor Chart:  sideways-trading-range with a bearish tone.  Major support below us, which appears to be keeping prices propped-up temporarily.
·       16-Anchor Chart:  sideways-trading-range and VERY sloppy price-action around the $97.25 area. 
·       Profit-targets above @ 98.61, 99.09, 99.14, 99.47, 100.00
·       Profit-targets below @ 96.55, 95.54, 95.28, 94.38

·       Long-Term Direction Bias = LONG / NEUTRAL
·       Short-Term Directional Bias = LONG / NEUTRAL
·       Fundamentals:  equities have been trying to shrug-off this weak European economic data the last 10 days, with the Mini-Russell attempting to rally higher… but the summer doldrums have kept the price-action subdued.
·       Daily Chart:  stuck in the middle of the range, between the two long and short-term moving-averages.
·       32-Anchor Chart:  prices pushing higher after testing the zone @ 1126.6, waiting to see if they can make new highs above the 1149.2.
·       16-Anchor Chart:  price-action pushing higher, however, the price-action is in the middle of the trading-range and the buyers feel very weak… will be watching price-action closely on Thursday
·       Profit-targets above @ 1142.9, 1147.6

·       Profit-targets below @ 1125.4, 1121.4, 1114.3

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