03/19/2018 ES Trade Plan Worksheet

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Mar 192018

A land deal in Japan appears to be threatening PM Shinzo Abe’s leadership and a good chance for a Fed rate hike this week have the stock markets in a bearish mood overnight.  It’s a Fed week and new Fed Chair Powell’s first rate hike decision will be released on Wednesday.  Facebook is down over 3.5% pre-market as US lawmakers begin attacking social media companies for what they are calling “data breaches” of private data.  FB claims the claims are completely false. FB users voluntarily provided their information through an app they specifically downloaded for that purpose.  The data is tied to Trump’s 2016 election campaign.  Nothing of note on the US economic calendar.  Extra attention may be given to Atlanta Fed President Bostic’s 9:40am EST talk at a Miami conference for any insight into Wednesday’s rate decision.  Volatility continues to contract, however expect it to pick back up if the bears start taking control.  No Size bias as overnight trading was mixed, although on last check, Size bias is starting to lean bearish.


 Posted by at 7:41 am

03/16/2018 ES Trade Plan Worksheet

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Mar 162018

Concerns over a brewing trade war between the US and China have put a damper on the bulls, special counsel Robert Mueller subpoena of Trump’s businesses with potential ties to Russia, and speculation that National Security Adviser H.R. McMaster will soon depart the White House have markets in a defensive mood.  The economic calendar focus is Building Permits @ 8:30am EST, Consumer Sentiment and JOLTS @ 10:00am EST.  Corporate earnings continue to beat estimates, on deck as the season comes to a close are TIF, HIBB, PERY.  Volatility remains elevated, although the ES 5-day ATR has shrunk to 36 from over 100 last month.  From a day-trading perspective, an ATR of 36 is much better than the under 20 we dealt with most of last year.  No size bias this morning as overnight trading was mixed.


 Posted by at 7:06 am