Member Login

Morning Thoughts October 20

  • It was another consolidation day yesterday…right at the top of the trading range and below 1230.
  • news out of Europe remains very inconsistent, not helping uncertainty
  • BLK above $160, ZUMZ above $22.50 are nice Bucket 2 long ideas
  • its options expiration week, this usually leads to more volatility into Friday
  • as a reminder for the bigger picture look at the weekly chart of copper below…in August it broke a multi-year uptrend and now sits right at its 200 week moving average for support. 
  • also keep the eur/usd fx cross in mind.  it is finding resistance at the 1.38 – 1.40 level, which also coincides with the 50% and 61.8% Fibonacci retracement level.  if and when the eur/usd should start turning lower again stocks should follow suit.

Get latest updates on

SET THE MARKET Live at 9am ET Daily

Watch More:

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Serge’s Daily Trading Tips

Want my tips and tricks to the markets? Subscribe and learn more about trading and investing, get an upper hand on the markets and on the path to a steadier trading and investing process. By subscribing you can expect to get anywhere from 2-4 new videos each week with clear, actionable, and relevant market commentary directly in your inbox. Not to mention you’ll be the first to know when we have upcoming Live Training Sessions. Enter your name and email and welcome to The Steady Trader family.

 

Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one’s financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Read our Full Disclaimers HERE.

Facebook Twitter
Member Login

Get Serge’s Daily Trading Tips

Subscribe now and get clear, actionable, and relevant trade ideas!

By giving your contact info you agree to receive future emails from The Steady Trader including educational and promotional content. By providing your mobile phone number and clicking on the above “Subscribe” button, you agree to receive automated promotional messages from us via SMS. By opting into our SMS Program, you agree to our Terms and Conditions and Privacy Policy.