From the desk of Joe Rios
The stock market recovery continued all the way to the close on Friday led by the Nasdaq rising 6.2% and S&P 500 4.2%. Correlations continued to work with the US Dollar gaining 0.7% while the US 10 Yr Note dropped -0.3%. In the commodity markets Crude Oil consolidated in a trading range after breaking the key psychological level of 80. Grains provided bullish trading opportunities led by Soybeans rising 2.5% and Corn 1.4%. Natural Gas continued to weaken closing the week down -3.6%. In the currency markets the Australian and Canadian dollars were the only major foreign currencies that held on to some of their recent gains. The Japanese yen was the weakest as the stock indices traded higher and carry trades were initiated. The other major currencies consolidated along with the US Dollar. In the week ahead my focus will shift from corporate earnings to the upcoming FOMC statement. I will pay special attention to economic data releases pre and post Wednesday’s FOMC statement.
Join our team of performance coaches and members during this week’s live trading room and educational workshops. Learn essential market dynamics that may provide you with the key to successful trading. Find out what’s hot and what’s not in the current trading environment.
Joe Rios
Chief Market Strategist – Rios Quantitative LLC
Global Trading with Quantitative Technologies
https://www3.gotomeeting.com/
Monday through Friday
RQ trade coaches include Edward Preston, Steve Schwartz and Joe Rios. Live demonstration of our pre-market quantitative analysis, real-time trading signals with RQ algorithmic technology, strategy performance review and Q&A session.
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Insider’s Quant (IQ) Room
Advanced Concepts with Joe Rios
Monday, Tuesday, and Thursday beginning at 1:30 PM ET
SUBSCRIPTION ONLY
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The Trading Room EDU – Educational Workshop
Covering the RiosQuant Trading Indicators:
Wednesday beginning at 7:30 PM ET
https://www3.gotomeeting.com/
RiosQuant Trading Program
Topic: Identifying Swing Trades
RiosQuant Performance Coach Steve Schwartz
Saturday beginning at 11:00 AM ET
https://www3.gotomeeting.com/
Topic: Uncovering the mystery of GnosTICK
RiosQuant Performance Coach Steve Schwartz
Scheduled economic data that may have an impact on the markets:
Monday
5:00 Am EUR German Ifo Business Climate
10:00 Am USD Pending Home Sales
Tuesday
8:30 Am USD Core Durable Goods Orders
10:00 Am USD CB Consumer Confidence
8:00 Pm NZD ANZ Business Confidence
Wednesday
10:30 Am Crude Oil Inventories
2:00 Pm USD FOMC Statement
4:00 Pm NZD RBNZ Rate Statement
4:15 Pm CAD BOC Gov. Poloz Speaks
Thursday
8:30 Am USD Advance GDP And Unemployment Claims
9:00 Am USD Fed Chair Yellen Speaks
10:30 Am Natural Gas Storage
8:30 Pm AUD PPI
Tentative JPY Monetary Policy Statement
Friday
Tentative JPY BOJ Press Conference
6:00 Am EUR CPI Flash Estimate
8:30 Am CAD GDP
9:45 Am USD Chicago PMI
9:55 Am USD Revised UoM Consumer Sentiment
THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING COMMODITY FUTURES, OPTIONS, AND FOREIGN EXCHANGE PRODUCTS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
