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6 Ways to Profit from Non-Farm Payrolls | SchoolOfTrade Newsletter 07/31/14
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Notes for Tonight’s Newsletter: Misc: • July is over, welcome to August! • Markets collapse ahead of Friday’s Non-Farm Payroll Report • Equity & Energy Markets tumbled today because… o Hawkish comments from FOMC (raising rates in 2015) o Wednesday’s ADP Employment came in much lower, worries ahead of Friday’s Non-Farm Payroll report o Today’s Chicago Purchasing Manager’s Index fell to 13-month lows o Argentina’s default, and comments from Standard & Poor’s (S&P) o 4-year-low in ECB’s Consumer Price Index Gold: • Gold finally pushes away from $1300/oz • Price-action pushing lower • Next Daily Chart profit-target down at 1265.8 • Waiting for retracements to continue selling short • Will expect a volatile reaction on Friday @ 830am EST to Non-Farm Payroll news in the US Crude Oil: • Crude Oil collapses below Daily chart key moving-averages ahead of Friday’s Non-Farm Payroll report • Moving lower to test next daily chart support @ 97.12 and trend-line around 96.00 • Strong selloff tells us to stay patient for the next retracement for another round of selling • Profit-targets below us @ 97.00, 96.00 and 95.00 Mini-Russell: • Pushing lower today ahead of Friday’s Non-Farm Payroll News • Moves below key-moving-averages on the Daily Chart • Waiting for retracements to continue selling short • Profit-targets below us at 1105.2 and 1103.3
Transcript of 6 Ways to Profit from Non-Farm Payrolls | SchoolOfTrade Newsletter 07/31/14
