Letâs begin our morning routine with the economic news for todayâs trading session. 8:20 Gold & Currencies OPEN 8:30 Non Farm Payrolls 9:00 Crude Oil OPEN 9:30 US Market OPEN 10:00 ISM Mfg Index 10:00 Construction Spending 10:30 E-mini Reversal 11:00 Transition into Lunch 11:30 European Close Looking at the news this morning we know today is a Friday, the beginning of April and the beginning of the 2nd quarter of the year. This all means today could be very quiet with traders waiting for next week to begin the 2nd quarter, or today may be nice and active with traders getting the new month/quarter off to a good start. I will be watching for volume at 830am est, and then try and Reading the Tape at 835am to see the market's reaction to the jobs report at 830. Im also expecting a slowdown rather early this morning. Friday's always end earlier than most days, and today may be even more dramatic with the big news at 830am Be looking for volume to slow down at 1030am this morning, watch the average true range (ATR) and the speed drop after the 10am news. Lets look at the markets we're day trading this morning... Crude Oil Futures Im looking at the 89range chart this morning and I see... we've tested the 107.71 resistance we defined on wednesday we are in a strong uptrend we are in a bullish price channel we recently broke the highs of the price wedge You can see all these aspects are confirming the STRENGTH of this market right now, pushing to new highs. This will definately give me a slight bias to the long side for my swing trades, but I will keep my options open for day trades in either direction today.
nice one, shorted 107.78, and covered at106.58. I know those sons of bitch will do that. limit order great. sorry for the late posting
The strength of the dollar trumps any potential economic gains from more people working. Everyone knows the job market should steadily improve nobody knows what the fed will do.