Gold Sells Off, Crude Steady Ahead of EIA: Wednesday's Market Forecast

Posted by TopstepTrader on November 29, 2017

February Gold ($GCG8) is selling off this morning, dropping $9 despite holding firm through much of the S&P 500's ($ESZ7) rally yesterday. Prices are now back below $1,290 after touching above $1,300 overnight. 

In Crude Oil ($CLF8), prices are hovering right below that $58 level for the third day in a row. They could perhaps be waiting for the EIA Inventory numbers to be released at 9:30 AM CT before pushing the price in one direction or another. 

The Nasdaq ($NQZ7) is down 0.4% in early trading, while the S&P 500 is continuing yesterday's gains - up 4 points to above 2630. And you guessed it - that's another all-time high. 

Senior Performance Coach John Hoagland discusses these moves - and more - in today's market forecast. 

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Topics: Market Updates

New Equity Highs, Gold & Interest Rates Roll: Tuesday's Market Forecast

Posted by TopstepTrader on November 28, 2017

As traders walk in this morning, the recent trend is holding. Equity futures - specifically the Emini S&P 500 ($ESZ7) has hit a new contract high. That has pressure on Gold futures ($GCG8), which just rolled to the February contract. Gold is trading down $3 to $1296.

Elsewhere in markets, Crude Oil ($CLF8) is trading slightly lower, but keeps finding support in the $57.40 to $57.50 level. Now, the price is right at the $58 handle. The Euro ($6EZ7) is also trading lower - to below 1.19. 

In today's market forecast, Senior Performance Coach John Hoagland runs through all these markets and the levels that matter. 

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Topics: Market Updates

Back from the Holidays: Monday's Market Forecast

Posted by TopstepTrader on November 27, 2017

Hope that everyone is well rested from the U.S. holiday that caused futures markets to close early on Friday. When the dust did settle on the U.S. Thanksgiving week, the Emini S&P 500 ($ESZ7) set a new contract closing high. This morning, prices are again firm - perhaps on expectations that the U.S. Congress will pass tax reform this week. 

After last week's Federal Reserve Minutes, the U.S. Dollar is under pressure again. The Euro ($6EZ7) has added 24 pips and looks set to test prices at 1.20 - currently trading 1.1965. The Dollar is also lower against the Yen ($6JZ7), British Pound ($6BZ7) and Canadian Dollar ($6CZ7). 

After rising last week on concerns over Canadian production, Crude Oil ($CLF8) is down 1 percent this morning, trading at $58.42. 

For discussion of these and other trading levels, check out what Senior Performance Coach John Hoagland has to say. 

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Topics: Market Updates

Equity Highs on Light Trading Volume: Wednesday's Market Forecast

Posted by TopstepTrader on November 22, 2017

Equity futures continue their years-long trend of moving higher. The Emini S&P 500 ($ESZ7) added another 2 points this morning and is facing resistance at 2600. At the same time, the rally in equities doesn't seem to impact Bond prices - as that yield curve continues to flatten (with the spread between shorter- and longer-dated maturities narrowing). 

Crude Oil ($CLF8) gained 1.5% overnight after a major Canadian pipeline cut Crude supply to the United States. 

With the holiday tomorrow, be wary of taking too much risk. Here's Coach Dan Hodgman with the levels and markets to watch today. 

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Topics: Market Updates

New Highs in Equity Futures: Tuesday's Market Forecast

Posted by TopstepTrader on November 21, 2017

The story this morning is all about equity futures as the Emini S&P 500 ($ESZ7) and Nasdaq ($NQZ7) hit fresh highs, while the Dow Jones Industrial Average ($YMZ7) and Russell 2000 ($RTYZ7) trade just shy of their highs. The latest push comes after the S&P 500 has risen more than 40 points in the last four trading days.

Despite this strength in equities, Gold futures ($GCZ7) are bid this morning and back above $1,280 per ounce. The Euro ($6EZ7) is trading in the middle of its range - right around 1.1750. 

Given that today may be the last day of good trading before the shortened holiday, here's Senior Performance Coach John Hoagland with today's market forecast.

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Topics: Market Updates

Be Cautious, Be  Deliberate: Monday's Market Forecast

Posted by TopstepTrader on November 20, 2017

Trade kicked off this morning for Thanksgiving week - with markets in directionless move. It's likely that volume will continue to be low this week, which may impact how much markets move. All this week, we'd recommend being extra cautious and deliberate with trading. 

For today, the Euro ($6EZ7) is under pressure, down 0.3%. Along with that general U.S. Dollar strength, Gold ($GCZ7) is down more than $8 to $1,288. Crude Oil ($CLF8) has also experienced some declines, falling $0.50 to $56.22 this morning.  

On the equity front, the Emini S&P 500 ($ESZ7) is 3 points higher to 2580. The Nasdaq ($NQZ7), which has been leading prices in equities all year, is higher by 15 points, recovering some of Friday's losses. 

Here's Senior Performance Coach John Hoagland's outlook for the day and levels he'll be watching. 

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Topics: Market Updates

5 Key Lessons From Our Successful Funded Traders - Coach's Playbook

Posted by TopstepTrader on November 16, 2017

At TopstepTrader, we've funded more than 1,000 traders over five plus years. They tend to have the five traits in common:

  1. They don't trade every day.
  2. They don't go to max leverage on every trade.
  3. They realize that it's real money - and there's no rush to make it.
  4. They stick with the strategy that brought them there - and always go with what the market is telling them. 
  5. They think about their daily P&L as a percentage of their overall cushion.

In this episode of Coach's Playbook, Mick and Hoag break down what those five traits are and how you can incorporate them into your trading. 

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Topics: Market Updates, Performance Coaching, Coach's Playbook

Crude Rolls, Equities Bid: Thursday's Market Forecast

Posted by TopstepTrader on November 16, 2017

The December Crude Oil ($CLZ7) contract has rolled to January ($CLF8), with the price falling $0.25 in the process. Equities are bid this morning, rising sharply from yesterday's early-morning selloff. The S&P 500 is 20 points below its all-time high, but up 11 points on today's trading session. 

To get your trading started this Thursday, Senior Performance Coach John Hoagland gives you the rundown of all the markets you need to know. 

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Topics: Market Updates

Equities Falling Out of Bed, Will There Be Buyers: Wednesday's Market Forecast

Posted by TopstepTrader on November 15, 2017

Equity markets are falling out bed this morning, with the Emini S&P 500 ($ESZ7) dropping 0.8% at the open. The Nasdaq ($NQZ7) is down nearly 1% and the Russell 2000 ($RTYZ7) is down more than 1%. Has the correction finally come? Or will this dip be met with as strong of buying as previously?

Your guess is as good as ours.

But that pullback has Gold ($GCZ7) bid, up $5 to $1,287.70 at present. The Euro ($6EZ7) has given back some of its early morning gains that saw prices up $0.02 in two days. Now, prices are hovering in the mid-$1.18s.

Senior Performance Coach John Hoagland goes through all these levels and what to watch for as you trade the markets through the day.

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Topics: Market Updates

Opportunities to Trade Emerge: Tuesday's Market Forecast

Posted by TopstepTrader on November 14, 2017

Markets are moving in early U.S. trading, giving lots of opportunities to establish trades. In the first half hour of the session, Crude Oil ($CLZ7) has fallen to lows of $56.10, while the equity markets are also coming under pressure. The S&P 500 ($ESZ7) is down 0.7% - falling 17 points to 2565. 

Simultaneously, the U.S. Dollar lost overnight - particularly against the Euro ($6EZ7), which gained 0.7% or 82 pips. The U.S. Dollar is also down against the Yen ($6JZ7) and British Pound ($6BZ7). 

In today's market forecast video, Senior Performance Coach John Hoagland will go through the moves to know to get you all set up for Tuesday trading. 

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Topics: Market Updates

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