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Home / Futures Blog / Beyond the Spotlight: US Dollar, Coffee, 30 Year Treasury Bond – October 8, 2012

Beyond the Spotlight: US Dollar, Coffee, 30 Year Treasury Bond – October 8, 2012

October 8, 2012 by Don DeBartolo

For the Week of October 08, 2012

The Trade Spotlight advisory service applies the GBE trading methodology (buying or selling commodity contracts based on breakouts of chart formations and technical indicators) to identify one to two trade setups per week.

Highlighting This Week’s Potential Breakouts:

December 2012 US Dollar Index

The December 2012 US Dollar Index has formed a 1-2-3 Bottom Formation. The twelve month contract low was made on September 14 at 78.725, this set up the number one point of the formation. The market rallied to 80.250 (10/01/12) setting up the number two point of the formation. The market retraced to 79.180 on Friday (10/05/12) stopping short of the contract low. If this low holds, it would set up the number three point of the formation. In addition, there is a downward sloping trend line with touches at 84.610 (7/24/12) and 83.070 (8/20/12). There are two near-touches at 83.945 (8/02/12) and 81.950 (9/05/12). The number two point of the formation also fell short of touching the trend line. A close above the trend line would trigger an entry to upside at the same time as the 1-2-3 Bottom Formation breakout. The MACD indicator crossed over to a buy signal, however the Stochastic indicator crossed over to a sell signal. The Trend Seeker (a US Chart Company tool) is currently Down. There is no trigger until there are upside confirmations.

December 2012 Coffee

The December 2012 Coffee contract had back-to-back massive losing sessions. From the opening price of October 5 to the closing price on Friday (10/06/12) the market fell 13.35 points. There is potential for a continued sell-off of over 11.00 points. A break of the 167.65 (9/24/12) low and support level could see the market test the September contract low of 156.55 (9/06/12). The contract twelve month low of 153.70 (6/18/12) would not be far off. MACD and Stochatics indicates a continuation of the sell-off. On Friday (10/05/12) the market closed below the 50-day Moving Average of 171.03.

December 2012 30 Year Treasury Bond

The December 2012 30 Year Treasury Bond contract is trading along a downward sloping trend line. There are touches at 151’29 (9/04/12), 154’17 (7/25/12), and 150’06 (10/03/12). A close above the trend line would trigger a buy entry. It appears the market will need to settle currently at 150’00 or higher to close above that trend line. The Trend Seeker is currently Down and the ranking is Extreme with the sell-off on Friday (10/05/12) after the unemployment numbers were released. Perhaps it will take a break above the high of 151’29 (9/04/12) for the Trend Seeker to flip, providing the upside confirmation. The upside target could be the twelve month high of 154’17 (7/25/12). A close above that high would trigger another entry to the upside based on the Hi-Lo Breakout Formation. The MACD indicator remains a bullish, however the Stochastic indicator crossed over to a sell signal. The market is approaching the 200 day moving average of 146’26, so there may be further downside movement.

Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Trade Spotlight

About Don DeBartolo

Don C. DeBartolo is a Series 3 licensed broker registered with the National Futures Association (NFA). As a former arbitrage clerk in the S&P 500 futures pit at the Chicago Mercantile Exchange (CME), Don has floor trading experience. Taking his trade execution expertise and ability to navigate a fast-paced environment, Don transitioned to the brokerage side of the business. Since 2005, he has worked at Daniels Trading, a brokerage firm in the heart of the financial district in Chicago. His responsibilities as a broker include providing market analysis, trade execution, and money management to his clients around the world. In March 2010, he developed a formal trade advisory for clients of the firm seeking specific trade recommendations and subsequent risk management.

Due to his widespread proficiency and experience with the futures and commodity options markets, he is able to offer his clients timely insight, specialized trade recommendations, and educational information through various videos and writings.

Studying at Loyola University Chicago, Don discovered the international sport of rugby. Still today, he plays for the Chicago Griffins, a member of the highest league of rugby competition in the United States. Skill and discipline are two traits that carry over from the pitch to the trading screens.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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