Wednesday, August 6, 2014

6 Keys to Summer Profit | SchoolOfTrade Newsletter 08/06/14

Don't be afraid to try something new. The ark was built by amateurs, and the Titanic was built by experts!  -Anonymous

Today’s Newsletter:
·       Markets Today:  Crude Oil pushes lower, Gold and Mini-Russell try to push higher
·       News for Tomorrow:  BIG news from Europe, Jobless Claims in the US
·       Trading Opportunities: Selling Crude Oil, Mini-Russell, and Gold

Notes for Tonight’s Newsletter:

·       Today definitely felt like summer in the markets
·       Russia adds more troops to the border of Ukraine, Gold jumps on fear of increasing violence
·       Poor news from Europe holding-back US Equities
·       Crude Oil pushes lower, heads towards seller profit-targets
·       Mini-Russell trades sideways, tries to push higher, sellers waiting to sell @ highs
·       Gold jumps back to $1300 on geo-political fears in Middle East

·       Direction Bias = SHORT / NEUTRAL
·       Daily Chart:  returns back to $1300, reacting on fear in the Middle East
·       32-Anchor Chart:  price jumps to the highs of the price channel
·       32-Anchor Chart: still looking bearish, but sellers need to respond at price channel highs
·       16-Anchor Chart:  buying pullbacks are lower-percentage.  Sellers, use these as profit-targets below.
·       Profit-targets below @ 1281.0, 1276.0, 1265.8

Crude Oil:
·       Direction Bias = SHORT
·       Daily Chart: moving lower, pushing into major support at price channel lows
·       32-Anchor Chart:  New lower-lows, headed towards profit-targets below us
·       Profit-targets below @ 96.46, 96.02, 95.44, 94.22

·       Direction Bias = SHORT / NEUTRAL
·       Daily Chart:  doji candlestick tells us we are ‘balanced’+
·       Bullish Price-action was VERY weak this morning, suspicious of buyer strength
·       32- Anchor Chart:  trading sideways, still bearish, although buyers are trying
·       (Sellers) Profit-targets below @ trend-line support, 1103.3, 1089.6, 1083.7, 1071.3
·       16-Anchor Chart:  new higher-highs with short-term buying opportunities @ 1118.8, 1116.1, 1112.4, 1110.1

·       (Buyers) Profit-targets above @ 1131.3, 1137.8, 1145.9

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