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
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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.
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