6 – 10 Jan 2020 Trading week preparation

The content is now separated between markets/folders I track. It´s easier for me and I hope it´s easier clear for you too.
https://www.dropbox.com/sh/42emkdzpvw867i0/AAAHA9ljhEBgHkX63xNnWtesa?dl=0

What I am looking at:
Well, what a crazy start for 2020 right?
I am exercising one of the most difficult skills I had to require to trade. Patience, patience to see the market move without doing nothing.
I learned by playing with fire I should only trade in an environment I know.
It´s not news that I think the SP500 is toppy and some stocks are on hyperbolic mode. A retrace is needed. I am not saying the “R” word (recession) but a pullback is due. That being said, with the war song playing, PMIs contracting again I don’t feel I have a clear read on the market so I am just observing.
That being said I am still long GOLD and OIL/Energy.

GOLD
Repeating last few weeks warning:
I can’t say this enough enough times. Buy gold, physical, ETFs,Gold Miners Stocks you name it. Gold looks bullish across all charts Technicals and Macro.
I am long $GOLD with full size and looking into some other miners and gold futures. This is breaking out hard, a pullback might happen which I will use to buy gold sovereigns.

Energy / Oil
Same recommendations from the previous weeks. WTI will chase the SP500.
WTI is breaking up hard and the fear of war might pump it to the moon.
To be honest I don’t know when will be the right time to dive in if you are not already in because this ship as sailed and is going fast.

SP500
Well this is a though one.
Last friday to war fears the SP500 dropped more than 1% on the European session, but when the cash session started on the US the dip buyers came with a vengeance.
To be honest I dont know how this is going to play out. a bear divergence is forming and a MACD bear cross triggered. If a close below the trendline happens it might trigger some major shorts.
It´s going to be a week to exercise patience.
IG Weekend trading prices the Dow 66.5 points lower.

EURAUD
The setup looks pretty self explanatory and It´s negative correlated with the SP500

Events:
Monday
JPY – Manufacturing PMI
CNY – Caixin Services PMI
EUR – Services PMI
EUR – Sentix consumer confidence
USD – Services PMI

Tuesday
EUR- CPIs
USD – ISM Non Manufacturing PMI
USD – Factory Orders

Wednesday
JPY – Consumer Confidence
EUR – Germany factory orders
USD – ADP Non farm employment

Thursday
EUR – German Industrial Production
EUR – Unemployment rate
USD – Unemployment rate


Friday
EUR – French Industrial production
EUR – Italy Industrial production
CAD – Employment change
CAD – Unemployment rate
USD – Average Hourly Earnings
USD – Non farm employment change
USD – Unemployment rate

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