Day Trading Economic News Analysis: April 7, 2010

S&P 500 Pivots

The S&P 500 has been consistently trading upward since early February 2010. The trend on the daily chart has been consistently upward after breaking through the 1140 resistance level in early March.

The S&P 500 stayed above Monday’s primary pivot level of 1184.63 and broke through the previous high of 1187.73. Expect the S&P 500 to trade lower if the S&P 500 trades below 1183 and trades higher above 1192.

The market should stay above 1184 and 1186 Monday’s trading range since it seems it has consolidated around that area. Wednesday’s primary pivot level is 1188.00. Tuesday’s previous high is 1192 so there will be resistance at that level.

Summary of pivot levels:

1192: Tuesday’s previous high

1188: Wednesday’s primary pivot

1187: Monday’s previous high

1184 – 1186: 144 and 200 Fibonacci moving averages on 5 min chart

1183: Tuesday’s previous low

1181: Last Thursday’s previous high and previous convergence of 144 and 200 Fibonacci moving averages on 5 min chart

Commodities Analysis: Gold and Crude

Gold gain $1 to 1135 as gold imports are up in India ahead of the one million weddings planned between April and May. On the daily chart gold has been trending sideways since it reached a high of 1220 back in early December 2009. A trading strategy for gold includes buying calls on SPDR Gold Trust (ETF: GLD).

Crude oil jumped $0.11 to $86.73. The dollar lost ground played apart in pushing the commodities sector higher however yesterday the dollar gained against the euro. If the dollar continues to trend higher against the euro then expect prices in crude oil to fall.

Previously the OPEC cartel announced that it will keep oil output ceiling unchanged as it will keep its profit from the falling dollar. Oil was currently trading sideways between the $80 and $81 however it has regained its footing reinforcing OPEC’s decision of keeping oil output the same.

Forex Analysis: Dollar Vs Euro

The euro fell against the dollar as concern about whether Greece will be able to finance its debt. Previously the dollar was declining as the European manufacturing sector was picking up pace with the global economy. On the weekly chart the Euro is trending lower against the dollar.

GE is investing 340 million Euros ($460 million) to expand European wind operations. Companies buying into foreign currencies for purchases and investing increase the demand towards that country’s currency. However the euro gains are being cut short as Greece struggles with issues on their debt.

Disclaimer

The content in this website is provided for educational and informational purposes only. We offer no investment advice, and nothing in this material should be construed as such. There is a risk of loss when you invest; past performance is never a guarantee of future performance. Trading is the sole responsibility of the individual. No reader should act on the basis of any matter contained herein without getting appropriate professional advice. Every investor or trader should consider all advice and all offerings of products and services on their own merits and for suitability to the individual’s personal needs and circumstances.

All Right Reserved TraderMongers.com © 2010

-
About the Author:
Shamim Ziyaaudhin is one of the editors of TraderMongers.com and TraderMongers Blogger a one stop trading news feed source for worldwide traders and investors. Their philosophy is to establish the standard for providing market news feed that is comprehensive, accurate, and concise. Providing technical and fundamental trading setups, economic numbers, and calendar events throughout the trading day. Shamim has a Masters in Business Administration from Fairleigh Dickinson University and holds a degree in Psychology from Rutgers University. Click here to subscribe to Tradermongers E- News
Article Source

If you’re a serious trader, you can’t afford to NOT read this..

I almost didn’t send you this e-mail because I thought to
myself, “There’s NO WAY that there will be any of these left for
my members. This offer is so good, it’s only a matter of hours
before IT’S OVER.” But after speaking with Bill Poulos himself,
he assured me that he reserved a few copies specifically for my
members. So I decided to send you this e-mail after all.

What the heck am I talking about and who is Bill Poulos?! I
don’t have a lot of time to explain due to the time-sensitive
nature of this e-mail, but I’ll do my best.

Bill rushed me a copy of his complete, step-by-step trading
course recently. To be honest, I wasn’t expecting much. After
all, because my name’s out there on the Internet, I get a LOT of
trading courses sent to me, and I feel like I’ve SEEN IT ALL.
Well, there was something in the way that Bill presented himself
to me that made me pay attention to his course, and I’m glad I
did.

When his course arrived, I actually felt a little like I kid
again waiting for a package to arrive in the mail. I canceled
all my meetings for the day, shut off my cell phone (well, OK, I
put it on silent), and settled in for a thoroughly enjoyable
afternoon session with Bill’s course.

http://www.profitsrun.com/cmd.php?Clk=3264943

There’s not enough room in this e-mail for me to cover all the
details, but Bill’s trading course is PROFOUND, ENLIGHTENING,
and most important, it’s USABLE. He doesn’t make crazy promises
and set expectations so high that they’re impossible to achieve.
He doesn’t require that you have an advanced degree in
mathematics to understand his method.

The true beauty of Bill’s course is that he’s just like you and
me. He’s been burned. He’s learned a lot. And he explains his
course in clear and easy-to-understand language with TONS of
practical examples.

When I was done going through his 150 page manual, DVD, and CD-
ROM, the moon was in the sky and it was well past midnight. I
was very satisfied in knowing that I had learned some NEW and
USEFUL trading methods that are now a part of my trading
toolkit.

So when Bill contacted me a day ago and let me in on a special
offer for my members exclusively, I had to let you know about it
ASAP.

Here’s the deal… Bill printed 1,000 copies of his trading
course and he only has 77 left. He needs to move these
IMMEDIATELY because his printer is raising his duplication costs
next month and Bill wants to get another batch printed before
the prices go up. This means that Bill will in all likelihood
raise the price of his course after these remaining 77 copies
sell out.

He agreed to knock $100 off his list price, but just for these
last 77 copies. So it’s first come, first served.

Frankly, these 77 packages may be gone by the time you read this
e-mail. The only way to know for sure is click on the link below
for more information.

http://www.profitsrun.com/cmd.php?Clk=3264943

Rob Trader – Forex Expert
http://tradingtoollist.co.cc/

Article Source:http://www.articlesbase.com/day-trading-articles/if-youre-a-serious-trader-you-cant-afford-to-not-read-this-1484354.html

The Secret to Stock Market Riches

Looking for the “secret”? That one thing that will click and suddenly you are rich? Looking for that one killer trade?

Vist Best Courses of Teaches secrets of successful trading

Yeah, it can happen.

But the secret to stock market riches is to grind it out. Yeah, grind it out.

When you can trade and invest profitably consistently, you can do something that most people who call themselves investors/traders can not do.

So the secret to the stock market is learning to pull cash out of it every month. Now I suppose you want me to tell you the secret to pulling cash out of the market every month?

Is there even such a secret?

The answer is yes, but like the best secrets always are, it’s hidden right under your nose. It’s right there, you just can’t see it because you are looking for something flashy and new. Well, let me tell you the “secret” to making the market pay you monthly. It’s trading covered calls. Yeah, just that. Just trading covered calls.

To make it even better, trade only calls that are in-the-money. They give you the most downside protection. Then, when you can make the market pay you monthly and in a safe and boring way, it is then that you know how to get rich. Compound, compound, compound.

Compounding only works with consistent returns. If you try to compound without consistence in you returns, your equity will be all over the place. Most likely, you will blow your account up.

However, covered calls give you that much needed consistency. You do the math.

Vist Best Courses of Teaches secrets of successful trading

 

 

More Stock Market Trading System Tips:

Trading Pro System is a complete video training course and teaches the traders to trade with confidence. The comprehensive 24 hours video training provides a bunch of strategies and tactics and a lot of content about trading in the stocks and options market. The system uses simple language and is created by businessmen which imply that the secrets of winning are at your fingertips.

Stock Market Index Secret is by Karl Dittman, a 30 year veteran of stock market trading. Karl maps out a really simple ’secret’ formula that can point you at a method of targeting a stock or an index on any day and make a profit. If you follow his patterns, you can can see opportunities to take good profits.

The Secrets of Sucessful Traders Guide was preferred amongst our team of researchers. It offers the most practical stock trading advice for beginners looking to find success in the stock market without losing their house. It is a step by step instructional guide which clearly explains everything you need to know about the industry and is patiently explained in detail to ensure that you are fully aware of how the stock market works before making your first investment.

Article Source:http://www.articlesbase.com/day-trading-articles/the-secret-to-stock-market-riches-1352030.html