NJ

09/19/2017 ES Trade Plan Worksheet

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Sep 192017
 

The stock market bulls are cautiously optimistic as the 2-day Fed meeting begins today and the announcement is made tomorrow.  Analysts give the Fed 0% chance of raising rates while many expect the Fed to start unwinding it’s $4.5 trillion balance sheet.  With little geopolitical news, market focus is on corporate happenings and the category 5 hurricane Maria targeting Puerto Rico tomorrow.  Today’s earnings include ADBE, ALOG, AZO, BBBY, and FDX.  Economic data includes building permits, housing starts, and import prices; all @ 8:30am EST.  Volatility has dried up as the market bulls cautiously wait on any new Trump tax plan information.  Volatility to the downside will be most likely be easier than the upside until tomorrow’s Fed announcement.  Size bias is long on light overnight volume into the 8:30am EST numbers.

 

 Posted by at 7:12 am

09/15/2017 ES Trade Plan Worksheet

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Sep 152017
 

North Korea fired another missile over Japan yesterday after the UN increased sanctions against the isolated country just days ago.   In London, a train fire added to the bearishness, however as the US open approaches, the ES bulls have clawed their way back to retest yesterday’s settlement.  It’s a busy morning for economic data.  This morning’s key data includes Retail Sales  and Empire State @ 8:30am EST, Capacity Utilization and Industrial Production @ 9:15am EST, and Consumer Sentiment @ 10:00am EST.  Upside volatility has dried up as the ES remains pinned under its all-time high.  However it’s Friday and if the ES is going higher, there’s a chance today, but I suspect the bulls will remain constrained until more of Trump’s tax plan is revealed.  Size bias is short into the 8:30am EST numbers.

 

 Posted by at 6:34 am