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Meaty Rally in Lean Hogs as China Buys More Pork

Posted by TopstepTrader on March 28, 2019

US Hog Futures prices are surging. While a swine flu outbreak tightens supplies, rising Chinese purchases of US stock are driving up demand. The trend is worth watching because, even if you’re not hogwild about trading meat futures, prices might be driven even higher by the latest developments on the US-China trade front.

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Topics: Market Updates, Futures, China

A Magic Number for the S&P 500… 2800?

Posted by TopstepTrader on March 21, 2019

Market predictions are all over the map after the jaw-dropping fall and rebound in the S&P 500 over the past six months. Some believe the market’s 14% swoon in the fourth quarter 2018 was unjustified given that the U.S. economy remains strong.

Others worry that, after a 13.3% year-to-date rebound, the market has rallied too fast given recent signs that the economy and earnings growth are slowing. The net result is an environment where price action remains headline-driven, with several key levels to watch heading into Q2.

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Topics: Market Updates, volatility, economic data, economic data reports

Market Alert: Euro Breaks Through Major Resistance

Posted by TopstepTrader on January 12, 2018

Euro.jpgIn European trading, the Euro (EUR/USD) broke through major resistance from the September 2017 high at 1.2090 on a spot basis. The move marks the second consecutive jump higher that has seen the price gain from the mid 1.19s.

In the front-month futures contract ($6EH8), the price has rallied from 1.1981 to 1.2180. (Futures contracts trade at a premium because interest-rate differentials are factored into the delivery date.)

Does this move present an opportunity? Or is it in its waning days? 

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Topics: Market Updates, Forex, Futures

The 10 Books Guaranteed to Improve Your Trading - Coach's Playbook

Posted by TopstepTrader on December 13, 2017

It's a slower time in markets - but that doesn't mean that you can't be progressing and working towards your goals. Being a professional trader is about more than placing trades. It's about learning and studying the markets - and then implementing what you've learned to gain an edge.

These books are more than trading manuals. Some are stories, some are non-fiction and others are more educational. So whatever you are feeling this holiday season, we have you covered. 

Please give it a watch and let us know any feedback in the comments. 

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

Gold Tumbles, Dollar Gains: Tuesday's Market Forecast

Posted by TopstepTrader on December 12, 2017

Is it Groundhog's Day? Wake up, check prices, Gold ($GCG8) losses. Repeat. This is one of the most prevailing trends in markets right now. Prices have come down more than $120 since the September yearly highs were reached. Now, the next level of support on the charts is $1,210 - the March lows for the February 2018 contract. If Gold can't find any support in the near term, additional declines of $30 seem inevitable.

With that pressure on Gold, the Euro ($6EZ7) is also seeing 0.4% declines - pushing below 1.1750. There seems to be a lot of support on the chart between this level and 1.1700. It would be surprising to see a strong move lower ahead of tomorrow's FOMC meeting. The central bank is expected to raise interest rates 0.25%. While that may seem bullish for the USD, the FOMC has raised interest rates numerous times this year - all the while the USD has lost 15 cents against the Euro. 

Running down these markets, as well as Crude Oil ($CLF8) and the Emini S&P 500 ($ESH8), is our Senior Performance Coach John Hoagland. 

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Topics: Market Updates

Big Week for the US Dollar: Monday's Market Forecast

Posted by TopstepTrader on December 11, 2017

This is going to be a busy week for currencies - with a whole slate of data and central bank meetings. On Wednesday, the Federal Reserve will announce its policy decision, with expectations that it will hike interest rates another 0.25%. Given the fact that a new FOMC Chair will soon take the helm, the market is likely to pay closer attention to the statement's language and Fed Chair Yellen's press conference at 1:30 PM CT. 

Then, as the market digests those fireworks, the Bank of England and European Central Bank will come out with their own interest rate decisions on Thursday morning. Neither bank is expected to raise rates, though the market will closely monitor ECB President Draghi's comments at his press conference (7:30 AM CT Thursday) to see what he has in store for the pace of asset purchases. 

Before all this takes hold though, Senior Performance Coach John Hoagland runs down the U.S. Dollar, as well as equities ($ESH8), Crude Oil ($CLF8)  and Gold ($GCG8) in today's market forecast.  

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Topics: Market Updates

Equity Futures Prepare to Roll: Thursday's Market Forecast

Posted by TopstepTrader on December 07, 2017

Yesterday's question of the day was whether the sell off in equities would have legs. The answer - at least for now - appears to be no. However, that would come with a big caveat: prices need to show the ability to bounce again. After all - that has been the story of 2017. Every pullback has been met with even more aggressive buying. 

Early in Thursday's trading the Emini S&P 500 ($ESZ7) is trading down a point - but towards the lower end of its range. Crude Oil ($CLF8) is on the opposite end - trading at the top of its daily range and up 0.7% on the session. 

Gold ($GCG8) is experiencing some pressure, falling $10 and back towards levels not seen since July. The entire metals complex is down, with Silver ($SIH8) falling within $0.50 of its yearly low. 

Question of the day: Will the Euro move more than 10 pips today?

Here's Senior Performance Coach John Hoagland running through today's markets and important levels to watch. 

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Topics: Market Updates

Crude Oil Falls Below Support: Wednesday's Market Forecast

Posted by TopstepTrader on December 06, 2017

The question of the day yesterday - was Crude Oil's ($CLF8) recent rally going to resume ... or would it fizzle? The early answer seems to be that the rally is fizzling - with the caveat that the EIA's Crude Oil Inventories are coming at 9:30 AM CT this morning. Crude Oil seems to have accepted trading below a key level $57.08 - and is currently trading at $56.95 just after the open. 

In other markets, the S&P 500 ($ESZ7) is trading slightly lower - down 2.5 points - after prices sold off 30 points yesterday. That sell off did not help Gold ($GCG8), which remains under pressure. Gold is down roughly $10 this week. Finally, the Euro ($6EZ7) is under a bit of pressure as well, trading towards the lower end of it's most recent range. 

Question of the day: Is the S&P's sell off going to turn into a legit pullback - or is this just a momentary pause before prices resume their uptrend?

Here's Senior Performance Coach John Hoagland talking about the markets and what to watch as you trade today. 

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Topics: Market Updates

This is the Big One! Tuesday's Market Forecast

Posted by TopstepTrader on December 05, 2017

The velocity with which markets sell off nowadays is incredible. As soon as things start to move, they really move. Then, prices start to steady and the longer-term buyers enter the market. It's something that has happened the past few trading sessions in equity markets. 

Whether this is the bull market's last gasp or just a brief respite is really what is left to be seen. For now, markets have steadied with the Emini S&P 500 ($ESZ7) trading up 2 points and the Nasdaq ($NQZ7) up 20. 

Gold ($GCG8) is experiencing some pressure and trading towards the lower end of the recent range and near support at $1,270. Crude Oil ($CLF8) is flat for the day - at $57.50. It seems that the recent rally is at least taking a breather for the moment. Is it going to reignite or fizzle?

Senior Performance Coach John Hoagland goes through all of these markets and the important levels that matter.  

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Topics: Market Updates

Risk On: Monday's Market Forecast

Posted by TopstepTrader on December 04, 2017

At the moment, every stock futures sell off becomes more and more limited. On Friday, following headlines that suggested that turbulence may be ahead for President Trump as it relates to the Russia investigation, markets took a tumble. Then, news broke that ABC News got its sources and headlines wrong and the markets came back. 

Now, with markets excited about tax reform passing the Senate on Friday night, the S&P 500 ($ESZ7) has once again hit a fresh all-time high. 

Meanwhile, Crude Oil ($CLF8) is 1.2% on the trading session to back below $58 per barrel and Gold ($GCG8) has lost $4. 

To get you up to speed on all these movements, Senior Performance Coach John Hoagland runs down markets in today's market forecast.  

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Topics: Market Updates

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