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The Greek referendum is over, the voters decisively rejected the proposals from the creditors, European markets are in turmoil, and the future there is unclear, but dark. Very dark.
North American markets didn’t even blink.
The S&P500 mini-futures gapped down 30 points Sunday after the Greek referendum results were known, but US equities, as represented by the large cap futures, quickly recovered. The ESU5, the current contract, recovered half the loss by the time the daytime trading session...Read More
The Nasdaq has been trying to fill the gap between 4451 and 4459 for over a week. That gap zone is indicated on the chart with a purple rectangle.
That gap is acting as a magnet and I expect it to be filled this week . For this to happen, however, the Nasdaq would need to push through the Volume Profile Point of Control at 4427. At the moment it looks capable of doing so.
Then the question becomes, what about the gap at 4206? Admittedly, it is quite far away from the present action, but ...Read More
After the futures opened nearly 30 points to start the Globex Session on Sunday evening, you heard much talk about increased concern of a Greek default over the weekend.
With this story approaching year 5, there should be a consensus among the rational: Greece will inevitably default and exit the Eurozone. The writing has been on the wall for some time now, and to deny this would be foolish. Even if the powers that be are successful in staving off disaster in the near-term and manage to k...Read More
In my June 22nd article for Traderplanet, I mention a top was pending and that hasn’t changed. Greece has been the primary reason for these wild market moves over the last few weeks and so far, if you took what you thought was going to happen and traded the exact opposite, you would have made a fortune.
Today, as I am writing this article one with any common sense would think the indexes would be down 200-300 points, as the Greece No vote won over the weekend. The SPX futures did drop some 3...Read More
Gold prices initially rallied after the highly anticipated Greek vote surprised market investors, with an emphatic NO vote on the referendum question to yielding to further austerity. The rally was short-lived as a strong U.S. dollar persuaded market investors away from safety bids for bullion.
Price action on the gold daily chart shows that the bearish trend has been firmly in place since price broke below the 50-day SMA on June 22nd. A bullish ABCD pattern formed at the end of last wee...Read More
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What are Automated Futures Trading Systems?
Often referred to as algorithmic trading systems, or simply algos, an automated futures trading system is a defined set of technical rules and parameters that ultimately determine entry and exit points for a given contract. In the event that all of the stipulated technical events occur, a buy or sell signal is created and a trade is automatically executed without human intervention. Simply put, it is trading on autopilot.
Each system is comprised...Read More
Regular visualization is proven to improve performance by up to 10%. Professional athletes use it to improve performance, yet traders are for the most part unaware how this tool could have a positive impact on their trading results:
At the beginning of this year I started working with a group of professional traders to help them improve their trading performance. The group was given a novel form of meditation which I developed with the aim to help them get out of their linear minds into a mo...Read More
It’s worth reminding ourselves that every trader is responsible for their trading actions and behavior. How we behave or act when trading will largely determine our trading success. Here are 3 common day trading problems related to how traders act. Left untamed, they will lead to failure. All are within the control of the trader and can, therefore, be corrected.
Problem Behavior #1: Trading Without a Game Plan
Traders coming into the trading day without a game plan put themselves in a pre...Read More
Live Cattle Numbers tend to Taper off as Summer Wears On. Here is How Investors can Capitalize
While you’re tossing those steaks and burgers on the grill, you might want to consider how that meat can not only feed your picnic dwellers, but potentially put money in your pocket.
Like most commodities, the cattle market has longer term fundamental and cyclical factors that if recognized, can often be used to the advantage of the patient investor. These are the kinds of markets favored in our manag...
So far, 2015 has been fairly light on high-buzz, high-growth tech-related IPOs, but that figures to change this week with Fitbit's 29.9 million share IPO. As of this writing, the deal is expected to price within a range of $14-$16, but, given the buzz -- and it's very impressive growth rates -- it wouldn't be a surprise if the price range was lifted before it launches on Thursday, June 18.
With the company offering nearly 30 million shares, the float is on the larger side, especially relativ...Read More