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Wednesday, February 3, 2010

S&P 500 Emini Day Trading Gap Thursday February 4, 2010

                            S&P 500 Emini Futures Day Trading THE GAP
S&P 500 Emini Day Trading Gap Thursday February 4, 2010
S&P Emini 500 Futures gapped down at the open 5 points this morning.  Wednesday is a higher probability day to fade the gap, and today would have paid off.  The gap filled in the first 20 minutes of trading, then the index settled back into a fairly narrow sideways trading range for the rest of day.  Overnight, the index tested and pierced the 1100, same as it did during the cash market yesterday.  Trading hours range was relatively narrow at 9 points.  Recent volatility has increased the 14 day average true range to a little over 20 points.  The late December early January trading range was as low as 10 points, so volatility is returning to the market place.  The next two days will have significant employment news reports.  Friday's always volatile Non-Farm payroll report will lead the pre market pace that day.  1100 is still the current key resistance level.  Breaking that level on volume could spur resumption of the short term up trend.  Bad employment news could send the market back into a down trend.  Watch support at the recent low of 1066.50.


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Forex day trading course news release calender

Forex day trading course news release calender
Thursday and Friday could hold some surprises for the market place.
Low volume this week.
Thursday, 4 February 2010 all times GMT   (last release in parentheses) 0030   Australia        December retail sales (1.40% m/m) 0030   Australia        December building approvals (5.9% m/m) 0030   Australia        December building approvals (33.3% y/y) 0030   Australia        Reserve Bank of Australia quarterly monetary policy statement 0045   Eurozone      European Central Bank interest rate decision 0130   Japan             Bank of Japan Policy Board member Nakamura speaks 0715   CH                  December trade balance (CHF 2.14 billion) 1100   Germany        December factory orders (0.2% m/m) 1100   Germany        December factory orders (1.8% y/y) 1200   UK                  Bank of England interest rate decision 1200   UK                  Bank of England asset purchase target 1330   Canada                      December  building permits (-4.6% m/m) 1330   US                  Q4 non-farm productivity (8.1%) 1330   US                  Q4 unit labour costs (-2.5%) 1330   US                  Weekly initial jobless claims 1330   US                  Continuing  jobless claims 1500   US                  December factory orders (1.10%) 1500   Canada                      January Ivey purchasing managers index (49.4) 2230   Australia        January performance of construction index (49.3) Friday, 5 February 2010 all times GMT (last release in parentheses) N/A     UK                  January Halifax house [...]

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Forex trading Dollar strengthens EURUSD live trading room

Forex trading EURUSD strengthens, could revisit 1.3900 if we the move is committed, we could see a move to the 1.3850 area for a double bottom. [caption id="attachment_393" align="alignleft" width="298" caption="Forex day trading course EURUSD "][/caption] FX markets were choppy in the Asian session but little changed, as traders await a slew of economic data and events.The NZD/USD was range-bound between 0.710-35 range for the early part of the session, before risk was sold off as concerns over Chinese banks and worries over European Commission assessment of Greece's deficit-cutting plan spread. Markets become temporarily risk averse, as news that Fitch Rating warned that banks in China faced the greatest "bubble risk" of any Asian country. "The agency views 'bubble risk' as greatest for Chinese banks given their 32 percent loan growth in 2009; this looks likely to be followed by a further 20 percent in 2010," Fitch said in a statement. The USDJPY had climbed to 90.58, but fell swiftly to 90.30. A day after the RBA shock the market by holding rates at 3.75%, Australian trade deficit widened to A$2.25bn vs. -A$2.5bn exp in December from A$1.7bn in November, illustrating a strong recovery in both imports and exports. We still believe the RBA will hike in March and AUD should be well supported near term. The highlight of the day should be the EC assessment of Greece's deficit-cutting plan, and then European Union Economy and Monetary Affairs Commissioner Joaquin Almunia will hold a press conference. We doubt that EC officials will want to fan any fe [...]

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