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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday September 1, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
That was an historic week!
Few things to keep in mind:
* Some of the biggest one day rallies usually take place in bear markets.
* “Death Cross” occured in the Dow Jones, where the 50 days moving average crosses below the 200 day moving average. See chart below. This has not happened, yet, for the other 3 major indices ( NASDAQ, Russell 2000 and SP 500)
* In my opinion, unless you buy some longer term options and you are right on the direction and the timing, it does not really matter if you are right on the market direction..it is more important how you manage you position size, money management. In short try to take the emotions out of it and I think you will see things much clearer….
Summary from our friends at TradeTheNews.com below the daily chart of the Dow Jones Cash Index below.
This September has the potential of being one of the most volatile trading months in history…will know for sure by Sept. 30th….
Wishing you a great trading month ahead!!
TradeTheNews.com Weekly Market Update: Volatility Shakes Up Complacent Markets
After China refrained from expected stimulus moves over the weekend, global markets went into hysterics on Monday morning. Chinese stocks went negative on the year, helping to trigger a mini flash on at the New York open, sending the S&P 500 into its first correction in three years. China fears hit emerging markets again, exacerbating tensions in the market that were already on edge about the uncertainties surrounding an impending Fed rate hike. Chinese stimulus finally materialized after the Shanghai market closed on Tuesday, helping to reverse US stocks that morning though they retested the Monday lows by the end of the session. The fever broke on Wednesday as Chinese stocks stabilized, and bargain hunters began pouring in, sending most global equity markets higher through the back half of the week. Trading volumes remained very heavy during what is normally a quiet late August week and currency and commodity markets experienced wild volatility spikes as well. By the end of a week that shook complacent markets, the DJIA ended with a 1.1% gain, the S&P500 was up 0.9%, and the Nasdaq added 2.6%.
With markets on fire, all eyes were on Beijing to do something (chatter favored a big, meaty RRR reserve ratio cut) before the open of trade on Monday to stop the bleeding. China’s policy response did not impress: regulators said China’s national pension fund was now authorized to invest in the stock market, and the stock slide continued unabated. The action was so bad that Apple CEO Cook was compelled to release a statement to help calm markets saying the company was seeing strong growth in China in July and August, with iPhone activations up over recent weeks. No further extraordinary Chinese actions arrived during the Asia session on Tuesday and the Shanghai tanked another 7.6%. With the smell of fear everywhere, the PBoC finally stepped in with a 50 basis point RRR cut and lowered key deposit and lending rates, in a move that seemed to be timed to trap the short sellers that the government has been railing against.
Continue reading “Heiken Ashi Dow Jones Chart & Economic Reports 9.01.2015”
