Tag Archives: ADP

EUR USD Chart

Good Morning, After

EUR USD ChartGood Morning NY.

The indicators look ‘good’, the markets look ugly. After all the expectations, now it’s a sell the news day. Here’s the EURUSD chart… I’m expecting the broader markets to follow.

Here’s the rundown:

  • BOE, 50 billion in new money
  • ADP numbers beat 179k vs 105k
  • Initial Claims beat 374k vs 385k
  • Continuing Claims misses 3306k vs 3283k
  • ECB lowers rates to 0.75%
  • Gold Futures down -1.25%
  • Oil Futures down -0.56%
  • S&P Futures down -0.38%

Good Trading.

Doesn’t it Feel Like Friday?

Yesterday’s terribly long debate between Francoise Holland and Nicolas Sarkozy helped me reduce the differences between a never-ending American electoral campaign and the well regulated French contest:¬†Americans strive to create a 5 word 5th grade soundbite for Fox or CNN, the French try to loose you in 500 word incomprehensible discourse.¬†Obvious but in the context of a busy week, chock full of earnings, announcements, and a battered VIX, it saps my energy. It feels to me like a Friday but it sadly isn’t; tomorrow brings the payroll and unemployment numbers. The SPY is consolidating at the 200 DMA in anticipation.

I’m observing:

  • Gold (and Silver) are staying in strong correlation with SPY.
  • If you are trading a flat channel in the $SPY we’re just breaking out under the lower boundry at $139.50
  • Natural Gas continues to contradict the pundits. See this post. I’m long and buying the dips, and intelligently setting my stops, I hope.

As for sentiment which is always hard to pinpoint, few traders want to be long before tomorrow’s payroll number especially after the ADP miss earlier this week. The irony is that the ADP number is effectively useless, so I work to ignore it…