Top Day Recommendations
4.09
Markets are generally closed in Europe today. Today in the US will be a day of recalibration to the data point known as the US unemployment report that was released on Friday. It came in far below most estimates. Consequently, stocks found a lower trading range while bonds took the top of short term resistance. Oil is lower as Iran agrees to restart nuclear talks with the US and its allies commencing on April 14th. These talks had been previously scheduled.
There are no eco releases scheduled for today and again participation will be limited by the European absence.
Since some markets were open for an abbreviated session on Friday while other markets weren’t open at all, we will let an entire cycle of trading go through to reset the technical levels in the grid below.
Week of April 09 - April 13
Date
|
ET
|
Release
|
For
|
Actual
|
Briefing.com Briefing.com
|
Prior
|
Revised
|
|
Forecast
|
Consensus
|
From
|
||||||
Apr |
10:00 |
Wholesale |
Feb |
0.3% |
0.5% |
0.4% |
||
10 |
Inventories |
|||||||
Apr |
07:00 |
MBA Mortgage Index |
04/07 |
NA |
NA |
4.8% |
||
11 |
||||||||
Apr |
08:30 |
Export Prices ex-ag. |
Mar |
NA |
NA |
0.5% |
||
11 |
||||||||
Apr |
08:30 |
Import Prices ex-oil |
Mar |
NA |
NA |
-0.1% |
||
11 |
||||||||
Apr |
10:30 |
Crude Inventories |
04/07 |
NA |
NA |
9.009M |
||
11 |
||||||||
Apr |
14:00 |
Treasury Budget |
Mar |
NA |
NA |
- |
||
Date
|
ET
|
Release
|
For
|
Actual
|
Briefing.com Briefing.com
|
Prior
|
Revised
|
|
Forecast
|
Consensus
|
From
|
||||||
11 |
$188.2B |
|||||||
Apr |
14:00 |
Fed's Beige Book |
Apr |
|||||
11 |
||||||||
Apr |
08:30 |
Initial Claims |
04/07 |
355K |
355K |
357K |
||
12 |
||||||||
Apr |
08:30 |
Continuing Claims |
03/31 |
3350K |
3350K |
3338K |
||
12 |
||||||||
Apr |
08:30 |
PPI |
Mar |
0.8% |
0.3% |
0.4% |
||
12 |
||||||||
Apr |
08:30 |
Core PPI |
Mar |
0.2% |
0.2% |
0.2% |
||
12 |
||||||||
Apr |
08:30 |
Trade Balance |
Feb |
-$53.0B |
-$52.0B |
-$52.6B |
||
12 |
||||||||
Apr |
08:30 |
CPI |
Mar |
0.5% |
0.3% |
0.4% |
||
13 |
||||||||
Apr |
08:30 |
Core CPI |
Mar |
0.2% |
0.2% |
0.1% |
||
13 |
||||||||
Apr |
09:55 |
Mich Sentiment |
Apr |
75.5 |
76.1 |
76.2 |
||
13 |
||||||||
MARKET PLACE
Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.
N.B.: if you initiate a trade using ANY of these numbers use a STOP at least equivalent to 2 ½%.
Repeat: use Stops. Don’t think about using Stops.
Use Stops. Some find it appropriate to look at the margin requirement and use that as a Stop or if it’s a steep initial requirement, use half. But whatever you do, stop thinking about any other alternative and use Stops.
********************************************
Futures trading entails considerable risk and is not for everyone. An account can lose more than its initial investment.
Stops are not necessarily filled at the stop level. Past performance is not a guarantee of future results.
Charles Kespert
***********************
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, AL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETIOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.