This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, September 09, 2016.
No real earth shattering events this week and well represented in a somewhat low volatility week in the indices. Crude oil had a nice spin, with 1.413M build which should have been bearish, however the news was they are cutting production which shot it up almost 2.00 per barrel. Now we wait for the jobs report coming out at 8:30AM EST.
In The Markets
Emini S&P – ESU6 (Sep ’16)
Indices still trading in the middle of its ranges and 2190 overhead resistance, 2160 being support. However with the bonds heading lower, expect further possible weakness in the Indicies.
Gold – GGCZ6 (Dec ‘16)
Traded to the top of its range making a lower high keeping in tract its slow grind down from its peak $1,384.00 (Z6), T-Bonds are also putting further pressure breaking its neckline, take a look below this is really important for all markets.
Soybeans – ZSX6 (Nov ‘16)
Decent counter trend bounce as we await the WASDE report on Mon. September 12th.
Crude Oil WTI – GCLV6 (Oct ’16)
Nice rally in crude with significant inventory drop of -14.53M barrels, however I had a feeling this rally wouldn’t hold, this inventory drop wasn’t due to renewed economic activity, there was a draw because ships couldn’t offload during Hurricane Hermine. For now Crude is sitting on short-term support from the hourly chart.
T-Bonds – ZBZ6 (Dec ’16)
This has to be the chart of the week in my opinion giving us clues that the Indices/Metals could possibly be coming down for a while if this pattern holds due to their correlation.
U.S. Dollar – DX-MU6 (Sep ’16)
Holding support from 94.30 or higher, be interesting to see if the USD can re-claim 96.00 or higher.
The Week Ahead
- 9/15 – Retail Sales 8:30AM ET
- 9/15 – EIA Nat. Gas 10:30AM ET
- 9/15 – Initial Jobless Claims 8:30AM ET
- 9/15 – Industrial Production (Aug) 9:15AM ET
- 9/16 – CFTC Gold net Position 3:30PM ET
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 TRADING SYSTEM, NEWSLETTER OR OTHER SIMILAR SERVICE. DANIELS TRADING DOES NOT GUARANTEE OR VERIFY ANY PERFORMANCE CLAIMS MADE BY SUCH SYSTEMS OR SERVICE.
GLOBAL ASSET ADVISORS, LLC (“GAA”) (DBA: DANIELS TRADING, TOP THIRD AG MARKETING AND FUTURES ONLINE) IS AN INTRODUCING BROKER TO GAIN CAPITAL GROUP, LLC (GCG) A FUTURES COMMISSION MERCHANT AND RETAIL FOREIGN EXCHANGE DEALER. GAA AND GCG ARE WHOLLY OWNED SUBSIDIARIES OF STONEX GROUP INC. (NASDAQ:SNEX) THE ULTIMATE PARENT COMPANY.