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Futures

Blue Line Futures - Midday Market Minute (11.13.18)


Where's the bottom for crude? 

 

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Bill Baruch is President and founder of Blue Line Futures. Bill has more than a decade of trading experience. Working with clients he focuses on developing trading strategies that present a clear objective for both long and short-term trading approaches. He believes that in order to properly execute a trading strategy, there must be a well-balanced approach to risk and reward.

Prior to Blue Line, Bill was the Chief Market Strategist at iiTRADER which followed running a trade desk at Lind Waldock and MF Global.

Bill is a featured expert on CNBC, Bloomberg and the Wall Street Journal as well as other top tier publications. 

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. 

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures’ permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in this material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


21480




Futures

Blue Line Futures - Morning Express


E-mini S&P (December)

Yesterday’s close: Settled at 2727.75, down, down 51.25

Fundamentals: U.S. benchmarks are paring the worst of yesterday’s selloff. U.S. Dollar strength, emerging markets pain, deadlock in Europe and trade headwinds have all weighed on the tape to start the week; the S&P lost 1.8% and the NQ 2.8%. There are reports that Treasury Secretary Mnuchin and China’s Vice Premier Liu spoke Friday for the first time and months and the latter is preparing to visit Washington in the coming days. This has lifted global sentiment and while encouraging a consolidation ahead of the EU’s deadline for Italy to resubmit their budget plan. Also, the British Pound has regained a penny on Brexit optimism, despite an underwhelming employment report this morning. Traders must keep an ear to the ground for news on both, the negotiations in Europe and those on U.S. and China trade.

Retail Earnings hit the tape this week and Home Depot started things off on a positive note topping analysts’ estimates, the stock is up 1.5% premarket. Walmart, the world’s largest retailer, reports tomorrow before the bell. The economic calendar doesn’t pick up until a crucial read on CPI tomorrow. However, we have a deluge of Fed speak starting today. Fed Governor Brainard (permanent voter) and Minneapolis Fed President Kashkari both speak at 9:00 am CT. Philadelphia Fed President Harker speaks at 1:20 pm CT and San Francisco Fed President Daly, a voting member in December, speaks at 4:00 pm. Tonight, we look to the trio of Industrial Production, Fixed Asset Investment and Retail Sales data from China at 8:00 pm CT. Tomorrow, Fed Chair Powell and Fed Governor Quarles both speak.

Technicals: Yesterday, we introduced a minor Bearish Bias citing that we will hold such until the market moves out above and holds above 2783.50, today this level now comes in at ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Crude Oil (December)

Yesterday’s close: Settled at 59.93, down 0.26

Fundamentals: Crude Oil had struggled to hold overnight gains through yesterday’s session before President Trump directed a tweet at OPEC saying, “Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!” His comments snowballed the market to new lows and the tape reached 58.24 overnight, the lowest since February. OPEC released their monthly report this morning, however, it was overshadowed by their potential supply cut discussed over the weekend and the IEA’s annual World Energy Outlook which focused on a longer-term shortage. First, OPEC highlighted widening supply versus demand, an already known factor. The IEA is singing a different tune and firmly stated that U.S. shale must continue to increase production and match that of Russia in order to avoid a severe supply shortage within seven years. However, commenting on the near-term, IEA’s Executive Director Birol confirmed that it is necessary to cut production now to stabilize the market. The IEA’s Monthly Report is due out tomorrow. If you are looking a bottoming signal, a major component must be a weekly draw in Crude Oil; the streak of seven straight weeks of builds must end. This week’s EIA data will be on Thursday, but inventory expectations will begin trickling out today.

Technicals: Friday and yesterday, we were steadfast in saying that a bottoming process was now underway. Although this did not necessarily mean a low was in, yesterday’s price action was not what we would have imagined seeing in order to confirm that such a process was underway. However, our rare major four-star support does come in at ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Gold (December)

Yesterday’s close: Settled at 1203.5, down 5.1

Fundamentals: Gold is hugging the psychological $1200 mark but is seeing a light at the end of the tunnel through technicals and a reprieve in the Dollar’s strength. Still, today’s budget showdown between the EU and Italy will play a critical role in the tape. Furthermore, the next three days will bring a deluge of Fed speak. Fed Governor Brainard (permanent voter) and Minneapolis Fed President Kashkari both speak at 9:00 am CT. Philadelphia Fed President Harker speaks at 1:20 pm CT and San Francisco Fed President Daly, a voting member in December, speaks at 4:00 pm. Tomorrow and Thursday, both Fed Chair Powell and Fed Governor Quarles speak each day. Coming on the heels of PPI’s hot read and inflation around the world trying to poke its head, all eyes must be on CPI tomorrow morning. These next three days will be a fundamental battleground for Gold.

Technicals: Gold traded to a low of 1196.6 and this is crucial because ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Natural Gas (December)

Yesterday’s close: Settled at 3.788, up 0.069

Fundamentals: Natural Gas crossed the elusive $4 level for the first time since the week of December 2014. This accelerated rip higher has been months in the making and temperatures hitting freezing levels in the first week of November was the straw that broke the camels back. While storage levels have been below the 5-year average for the entire year, they also moved below the 5-year range this summer. In other words, the table has been set for months. Remember, at the start of the year, the U.S. became a net exporter of Natural Gas and this coincides with the trend in storage. At these levels, traders do not want to chase this move, but ultimately, this could be the start of a new longer-term bullish trend in prices and pullbacks should bring buying opportunities.

Technicals: After ripping higher last Monday, Natural Gas quickly formed a bull-flag pattern before breaking out on Friday. Last night’s high of 4.067 was a test to long-term ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

--

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Bill Baruch is President and founder of Blue Line Futures. Bill has more than a decade of trading experience. Working with clients he focuses on developing trading strategies that present a clear objective for both long and short-term trading approaches. He believes that in order to properly execute a trading strategy, there must be a well-balanced approach to risk and reward.

Prior to Blue Line, Bill was the Chief Market Strategist at iiTRADER which followed running a trade desk at Lind Waldock and MF Global.

Bill is a featured expert on CNBC, Bloomberg and the Wall Street Journal as well as other top tier publications. 

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. 

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures’ permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in this material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


21468




Futures

Blue Line Futures - FX Rundown


Euro (December)

Session close: Settled at 1.1271, down 96 ticks

Fundamentals: Today, the bottom fell out of the Euro. With a showdown between Italy and Brussels looming tomorrow topped with a Brexit debacle, buyers were few and far as the Euro trekked to the lowest level since last June. Last month, the EU rejected Italy’s budget plans and gave them a deadline of Tuesday to resubmit. The EU sees Italy’s growth as slower than the nation anticipates which means their budget deficit would be worse. However, Italy’s Finance Minister is expected to revise the growth numbers in hopes of bringing the two sides closer together. Although the Euro cannot find its own footing, it has seen additional pressure due to the Dollar’s reinvigorated strength since last week’s FOMC Meeting. This week will prove crucial as we await Fed Chair Powell and CPI Wednesday. Today, San Francisco Fed President Daly stayed within the lines and supported gradual rate hikes, however, she reiterated that quarterly hikes are not locked in. Tomorrow, Fed officials Brainard, Kashkari, Harker and Daly all speak. Early in the morning, CPI is due from Germany at 1:00 am CT, French Nonfarm Payrolls are out at 1:45 am and ECB officials speak at 2:00 and 2:45 am. The most important number is German ZEW Sentiment due at 4:00 am CT along with the Eurozone read.

Technicals: We went outright Neutral the Euro last week after price action failed to hold its post-election tailwind. The chart has been damaged for months but this certainly takes it up a notch. A meager close back above... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Yen (December)

Session close: Settled at .88055, down 5 ticks

Fundamentals: Overnight, the Yen traded to the lowest level in a year despite stronger than expected PPI data. Early strength in equity markets pressured the Yen but that quickly changed upon the European open. Broad, global equity market weakness was the saving grace for the Yen that finished about half a point from its session low. There is no true light at the end of the tunnel for the Yen’s downtrend unless the Dollar stops rallying and equity markets remain volatile. There is a 30-year JGB auction at 9:35 pm CT.

Technicals: Last Thursday, we introduced a minor Bearish Bias in the Yen as it was primed to ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Aussie (December)

Session close: Settled at .7191, down 39 ticks

Fundamentals: The Aussie fell out today along with commodity prices and every other currency against the U.S Dollar. The currency traded lower post-settlement and closed the electronic session on the lows. One would imagine that nothing will stop this trend ahead of tomorrow night’s Chinese Industrial Production and Fixed Asset Investment data. Tonight, we look to NAB Business Confidence at 6:30 pm CT.

Technicals: The only reason we are not turning Bearish the Aussie is that ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

 

Canadian (December)

Session close: Settled at .7563, down 11 ticks

Fundamentals: The flight to quality is elevating the Dollar but for the Canadian, trade and Crude Oil are also weighing on sentiment. Crude notched its 11th straight losing session after President Trump called out OPEC for discussing a supply cut. The same sentiment in Crude’s case has held the Canadian back even when trade news was positive. There now must be bearish U.S Dollar news in order to lift the Canadian.

Technicals: On Friday, the Canadian never traded above ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Bill Baruch is President and founder of Blue Line Futures. Bill has more than a decade of trading experience. Working with clients he focuses on developing trading strategies that present a clear objective for both long and short-term trading approaches. He believes that in order to properly execute a trading strategy, there must be a well-balanced approach to risk and reward.

Prior to Blue Line, Bill was the Chief Market Strategist at iiTRADER which followed running a trade desk at Lind Waldock and MF Global.

Bill is a featured expert on CNBC, Bloomberg and the Wall Street Journal as well as other top tier publications. 

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. 

This article is from Blue Line Futures and is being posted with iBlue Line Futures’ permission. The views expressed in this article are solely those of the author and/or Blue Line Futures and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 


21453




Futures

Blue Line Futures - Grain Express


Corn (December)

Last Week’s Close: December corn futures finished Friday’s session down 4 ¼ cents, putting prices in negative territory by 1 ¾ cents for the week. Futures traded in a 13-cent range through the week. Friday’s Commitment of Traders report showed funds bought 2,992 contracts through November 6th, extending their net long position to 14,562 futures.

Fundamentals: With the USDA report behind us, our attention will turn towards money flow and crop developments in South America. Market participants will also want to keep a close eye on the U.S. dollar as it surges to new highs on the year, a possible headwind for exported commodities. Crop Progress this afternoon is all but meaningless, but for those still keeping tally, expectations are for corn to be 88% harvested, 2% ahead of the 5-year average pace.

Technicals: The market is working higher this morning, but bulls should take it with a grain of salt and temper expectations. Overnight trade happens on light volume which can be misleading at times. The market is hovering near the 100-day moving average this morning, which happens to be right in the middle of our significant support and resistance pockets. Significant technical support comes in from 360 ¼-363, this pocket represents the low end of the range through the middle and back half of October, as well as a key Fibonacci retracement. On the resistance side of things, our pocket comes in from 375 ½-379. This pocket represents the top end of the recent range and also contains various previously important price points.

Bias: Neutral

Resistance: 375 ½-379****, 386-387 ¾***

Pivot: 367 ½

Support: 360 ¼-363***, 354 ½-356 ½****

 

Soybeans (January)

Last Week’s Close: January soybean futures finished Friday’s session up 7 cents, trimming losses for the week to just ¾ of a cent. Futures traded in a 29-cent range through the week. Friday’s Commitment of Traders report showed funds bought 31,049 contracts through November 6th, cutting their net short position nearly in half, to 38,866 futures.

Fundamentals: The market finished last week’s trade near where it started as the market wrestled the USDA report and headlines regarding trade. We do not believe there is a trade deal in sight but are aware that the Chinese stock market (Shanghai Composite) is down roughly 25% this year, something that could give the U.S. some leverage going forward. With little new news expected, money flow is being monitored closely, and last week we have been suggesting that the funds seem much more interested in covering while sentiment is bearish than adding to their drawn-out short position. Weekly Crop Progress this afternoon is expected to show soybean harvest at 90% complete, just 3% behind the 5-year average.

Technicals: This should really be labeled the “technical & psychological” section. We have heard countless prospective clients over the past week tell us that they are short beans because of the big carryout number; news flash: this isn’t new news. The market is as efficient as it has every been and is constantly digesting information that hasn’t even hit the wires yet, a big reason why we put a big emphasis on technicals (end rant). First technical resistance today comes in from 892-893, perhaps the more significant pocket comes in from 900-906 ¼. This pocket represents the recent highs, the 50-day moving average, the October 15th highs, and the psychologically significant $9.00 handle.

Bias: Neutral

Resistance: 892-893**, 900-906 ¼****, 932-935 ¼***

Support: 874-876 ¼**, 864-865 ¾****, 839 ¼-844 ½**

 

Wheat (December)

Last Week’s Close: December wheat futures finished Friday’s session down 5 ½ cents, putting prices in negative territory by ½ of a cent for the week. Futures traded in a 16 ¼ cent range through the week. Friday’s Commitment of Traders report showed funds bought 5,963 contracts through November 6th, trimming their net short position to 41,965 futures.

Fundamentals: Wheat has been chopping around as it searches for a new fundamental catalyst to give the market its next directional move. Crop Progress is something that could start to trend and be that catalyst. Expectations for the weekly Crop Progress report this afternoon is for winter wheat planting to be 90% complete with a crop rating of 52% good/excellent, this would be up 1% from last week. As with other commodities, we are watching the U.S. dollar extremely closely. This morning we are seeing new highs on the year, a big headwind for the wheat market.

Technicals: In our weekly weekend wrap up, we mentioned the bulls having a risk/reward advantage near $5.00. With that said, the bulls must defend that support. A break and close below could take us back towards the October 25th lows of 485 ½. On the resistance side of things, our pocket remains intact from 515 ½-519. A breakout above here will likely spark short covering and provide a big boost to this market.

Bias: Neutral

Resistance: 515 ½-519***, 528-531 ¼***

Support: 500***, 485 ½***, 468 ¼-473 ¾****

--

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Oliver Sloup is Vice President of Blue Line Futures. Oliver has been a guest on CNBC and Bloomberg, among others. Oliver has over a decade of trading experience. Prior to Blue Line Futures, Oliver worked as the Director of Managed Futures at iiTRADER.

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology.

You can email us at info@BlueLineFutures.com or call 312-278-0500

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures' permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


21441




Futures

FX Rundown


The Fed, Inflation and the Consumer

Markets find themselves at an inflection point and this path collides with a busy economic calendar. U.S benchmarks gave back the bulk of their post-election relief rally but most notably, the S&P did finish the week above the 200-day moving average since the October fallout. The Dollar gained broadly against currencies around the world; the Dollar Index finished 1.3% from its election night low and the Dollar strengthened by 0.95% on the week against the Chinese Yuan. This ties together two predominant themes through Friday; a blowout PPI number and a bloodbath in emerging markets. Friday’s Producer Price Index came in very hot and the international trade conflict is officially poking its head into the inflation data. The headline MoM read rose 0.6% and the YoY was +2.9%. However, the core number that excludes food, energy and trade was at a modest +0.2% and it is important to note there have been bursts of strength in PPI due to trade all year. This added a further tailwind to the Dollar which has pressured commodities and emerging markets all year. From Wednesday’s close, the MSCI Emerging Markets Index lost 4.5%. Copper shed 5% on the week and Friday marked the tenth losing session in a row for Crude Oil.

Sign up for a Free Trial to get 1 or all 4 of our daily Blue Line Express commodity reports. Covering fundamentals, technicals and our actionable bias and levels. 

The collision course boasts a deluge of Fed speak, the more closely watched CPI inflation read, retail data and economic indicators from around the world. Fed Chair Powell headlines the list with speeches on Wednesday and Thursday. Fed Governor Quarles gives his two-day semi-annual Congressional testimony on banking also Wednesday and Thursday. Newly appointed San Francisco Fed President Daly who votes in December but not next year speaks Monday at 1:30 pm CT. On Tuesday, Fed Governor Brainard speaks and Daly takes the podium again.

The data heats up Tuesday with employment from the U.K and the closely watched ZEW Sentiment from Germany and the Eurozone. Also, on the heels of a Joint Ministerial Monitoring Committee meeting over the weekend where Saudi Arabia said it will reduce exports by 500,000 bpd in December, OPEC releases their Monthly Report. In the evening, we look to GDP data from Japan and our favorite trio of Industrial Production, Fixed-Asset Investment and Retail Sales from China.

On Wednesday, the expectations for Core CPI are nothing out of the ordinary; +0.2% MoM and +2.2% YoY. If this number is anywhere in the ballpark of what PPI was, the Dollar will rip higher along with Treasury yields (prices lower) and we are sure to hear Fed Char Powell address such in the afternoon.

Retail Sales is due on Thursday, but retail earnings will trickle out all week. Home Depot headlines Tuesday, Walmart Wednesday and Macy’s Thursday. Earnings are the lifeblood of stocks but a hawkish Federal Reserve and a murky picture around much of the world will certainly weigh on sentiment. What does this week’s calendar confirm or deny?

 

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Bill Baruch is President and founder of Blue Line Futures. Bill has more than a decade of trading experience. Working with clients he focuses on developing trading strategies that present a clear objective for both long and short-term trading approaches. He believes that in order to properly execute a trading strategy, there must be a well-balanced approach to risk and reward.

Prior to Blue Line, Bill was the Chief Market Strategist at iiTRADER which followed running a trade desk at Lind Waldock and MF Global.

Bill is a featured expert on CNBC, Bloomberg and the Wall Street Journal as well as other top tier publications. 

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. 

This article is from Blue Line Futures and is being posted with iBlue Line Futures’ permission. The views expressed in this article are solely those of the author and/or Blue Line Futures and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


21431




Disclosures

We appreciate your feedback. If you have any questions or comments about IB Traders' Insight please contact ibti@ibkr.com.

The material (including articles and commentary) provided on IB Traders' Insight is offered for informational purposes only. The posted material is NOT a recommendation by Interactive Brokers (IB) that you or your clients should contract for the services of or invest with any of the independent advisors or hedge funds or others who may post on IB Traders' Insight or invest with any advisors or hedge funds. The advisors, hedge funds and other analysts who may post on IB Traders' Insight are independent of IB and IB does not make any representations or warranties concerning the past or future performance of these advisors, hedge funds and others or the accuracy of the information they provide. Interactive Brokers does not conduct a "suitability review" to make sure the trading of any advisor or hedge fund or other party is suitable for you.

Securities or other financial instruments mentioned in the material posted are not suitable for all investors. The material posted does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before making any investment or trade, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice. Past performance is no guarantee of future results.

Any information provided by third parties has been obtained from sources believed to be reliable and accurate; however, IB does not warrant its accuracy and assumes no responsibility for any errors or omissions.

Any information posted by employees of IB or an affiliated company is based upon information that is believed to be reliable. However, neither IB nor its affiliates warrant its completeness, accuracy or adequacy. IB does not make any representations or warranties concerning the past or future performance of any financial instrument. By posting material on IB Traders' Insight, IB is not representing that any particular financial instrument or trading strategy is appropriate for you.