This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, November 4, 2016.
In The Markets
Emini S&P – ESZ6 (Dec ’16)
Looking very bearish – broke the neckline 2110, as long as it stays under this price action I’m leaning to a very bearish market. However, much of this trend I believe will also depend on the outcome of the Nov. 8th election. For one reason or another the Indices perceives a Hillary win an up market, and a Trump win a down market so stay on your toes on Nov. 8th
Gold – GGCZ6 (Dec ‘16)
Gold is working on a uptrend still holding off the weekly charts for now. Currently hitting overhead resistance and needing to break above $1,350 to bring the bulls back in full force. Otherwise based off the weekly charts creating a right hand should formation which could eventually be deemed bearish.
Soybeans – ZSX6 (Jan ‘16)
The Soybean market is trading off their highs unable to hold above the $10.00bu level – now trending in the middle of its range.
Crude Oil WTI – GCLX6 (Dec ’16)
Crude oil did continue to trade lower now coming into its support zone $44.60 – I’m leaning (75%) towards an eventual bounce.
T-Bonds – ZBZ6 (Dec ’16)
The T-Bonds still trending lower coming up for a short entry at or around the 163-20 area.
U.S. Dollar – DX-MZ6 (Dec ’16)
The USD looked to be working towards the 100 area however failed this week trading back to support at 97.21.
The Week Ahead
- 11/8 – US Presidential Election
- 11/8 – JOLTS 10:00AM ET
- 11/9 – EIA Petro Report 10:30AM ET
- 11/10 – Jobless Claims 8:30AM ET
- 11/10 – Nat Gas Report 10:30AM ET
- 11/11 – Consumer Sentiment 10:00AM ET
Subscribe to The Rath Overlay
The Rath Overlay - Authored by senior broker, Drew Rathgeber, The Rath Overlay uses timeless methods to clearly identify market opportunities and guides the confident execution of your focused trading plan.
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.