Thursday, October 2, 2014

3 Ways to Trade Non-Farm Payrolls | SchoolOfTrade Newsletter 10/02/14




“Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy.” –Norman Vincent Peale
Notes for Tonight’s Newsletter:
·       Another HUGE trading range in today’s session!
·       Gold consolidates and trades quietly ahead of Friday’s Non-Farm Payroll Report
·       Crude Oil pushes to 22-month lows, tests $88.00 before rebounding ahead of tomorrow’s Red-Star News
·       Mini-Russell makes early lower-lows and then pushes higher into our sell-zone ahead of tomorrow’s BIG news
·       US Non-Farm Payroll News Friday @ 8:30am EST


Gold:
·       Fundamental:  A weak Euro has continued to push the US-Dollar higher, and a strong Dollar is going to push Gold lower until the ‘fear factor’ increases around the world.  At this time, violence around the world is at a minimum.  Hong Kong protests have seen a turn for the best, Ukraine still has an active cease-fire, and of course the soap opera in the Middle East appears to be ‘business as usual’ these days.  Furthermore, the ECB held steady on interest rates this morning so Gold didn’t have any reason to rise on the fear of printing more money.
·       Technical:  Gold is trading sideways and getting very narrow and quiet ahead of tomorrow’s Non-Farm Payroll news at 8:30am EST.  We have a bearish long-term-trend so we are looking for selling opportunities at the highs of the range we defined on our charts.

Crude Oil:
·       Fundamental:  A struggling global economy has lowered the demand of Crude Oil around the world, and a strong US Dollar makes Crude Oil easier to buy and thus prices will push lower.  IN addition to this, recent outbreak of Ebola has caused hundreds of thousands of people to avoid travel, which has further-decreased the demand for the ‘black gold.’
·       Technical:  Crude Oil tumbled down to $88.00/barrel in the London trading session before rebounding directly into our sell-zone on the anchor chart.  We have a BEARISH long-term-trend so we are focused on selling opportunities tomorrow morning after we hear from the Non-Farm Payroll report.

Mini-Russell:
·       Fundamental:  A struggling global economy finally took its toll on the e-mini markets this week as investors took profit off all-time highs and put their money in more risk-adverse bonds and the US-Dollar (cash).  The Mini-Russell has been hit the hardest because of its ‘small cap’ companies and the fear that the slowdown in Asia and Europe may soon catch up with companies in the US as well.

·       Technical:  Mini-Russell pushed lower this morning and then reversed just before 12:00pm EST in the US Session.  We have a BEARISH long-term-trend, and the Mini-Russell is testing one of the most important sell-zones on our anchor chart, but the threat of tomorrow’s Non-Farm Payroll report keeps us from getting into any new trades until we see what tomorrow’s news tells us.   

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