This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, August 26, 2016.
In The Markets
Emini S&P – ESM6 (Sep ’16)
Currently sitting on support, still with relatively low volatility and tight trading ranges, all eyes are on Yellen speaking today at the Jackson Hole Symposium and whether we will be seeing a ¼ pt. interest rate hike in Dec. Also be prepared for our Annualized (Q2) GDP number being released at 8:30AM EST consensus is 1.1%.
Gold – GGCM6 (Dec ‘16)
A new forming bearish (death cross) developing, yet to be confirmed, however working on it, should know more by early next week.
Soybeans – ZSN6 (Nov ‘16)
Sell signals at $10.12 (X6), look for support to be around $9.60 (X6)
Crude Oil WTI – GCLN6 (Sep ’16)
Off its highs, then slight yo-yo action this week with on/off again with a Hurricane (Invest 99) in the Caribbean/Gulf region, looks to be downgraded for now with dryer air coming in pushing Crude slightly lower this morning.
T-Bonds – ZBM6 (Sep ’16)
Still holding support above 171-00 for now with its trading range decreasing significantly, should be interesting to see if we break higher bringing our yield further down. Technically this is a bullish set-up, but I wouldn’t bank on it.
U.S. Dollar – DX-MM6 (Sep ’16)
Looks to be trading in the middle of a short term channel, I’ve been hoping for a bounce, however probably won’t see much till Yellen speaks 10:00AM EST.
The Week Ahead
- 8/31 – ADP Employment Report 8:15AM ET
- 8/31 – EIA Petro Report 10:30AM ET
- 9/1 – Jobless Claims 8:30AM ET
- 9/1 – Nat Gas Report 10:30AM ET
- 9/2 – Employment Situation 8:30AM ET
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