FOMC Minutes | Trading Game Plan July 8

I would hate to be swing trading the index ETF’s right now…

China, Greece, oil and the FOMC minutes are all causing havoc to try and get a handle on order flow. Ironically, day trading the equity market has been the place to be.

The last couple of months you needed to be on top of your stock picking skills, if you were, we have found 5-10 great ideas every day to trade.

July 8 Stock Market Today: Map of the S&P 500

(click the map for a full view)

FOMC Minutes

Day Trading Game Plan: The SPY ETF Chart

The SPY price action gave us two solid trends yesterday, one up, one down.  AGAIN…

Almost $7 worth of trading range yesterday. We haven’t see that in a long time. The terrific part is that it was clean trends in both directions intra day. Very strong, bullish close on solid volume. You would expect follow-through but it’s not happening. The roller coaster continues…

(click the chart for a full view)

FOMC Minutes

Stocks to Trade |Wednesday July 8, 2015

Pete’s Notes:

  • Yesterday was the day to make money ahead of the FOMC today. Tremendous price action for day trading.

Interesting Chart Lessons:


AAPL continues to hover at a critical point for the bullish trader. There is a $20 downside target if it can’t hold this level.

(click the chart for a full view)

FOMC Minutes

Earnings in play today > 1M avg shares: aam wdfc

Bullish Ideas ATR/Volume/Price: MBLY, ALXN>190, HCA, LLY, TSO, NKE, FB, PSX, ACN, TWC

Bearish Ideas ATR/Volume/Price: yelp, sndk, isis, gmcr, wdc, rrc<45, baba, gpro, uri<83, bidu, slb, utx, mon, mmm

Weak Stock Weak Close: cnx, lbtya, nem, pot, qihu, yelp

Strong Stock Weak Close: tsla

Weak Stock Strong Close: csiq, cree, atw, swn, exc,

Strong Stock Strong Close: LLY, LEN, DHI, RAI, GIS, KR,

20 day Breakdown: cnx, sina, wdc, rrc, cybr, nem, nxpi, bx, etfc, swks, zion, c, lyb, jpm, yum



Watch List Longs: VLO, DIS, TGT, SBUX, ABT, TWC, LEN, T

Watch List Short: swn, hal, slb, cvx, bhi, cop, axp, all, dd, orcl, klac

Inside days: orcl, myl, jci, tol, amgn

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FOMC Minutes | Top Stock Market News

FOMC Minutes Guide: From Greece Fallout to Rate-Liftoff Outlook

Here’s what to look for when the Federal Reserve releases minutes from the Federal Open Market Committee’s June 16-17 meeting at 2 p.m. Wednesday in Washington.

Dot Plot Dovish Signal

“The minutes were far more balanced and walked back the market,” Rosner said, adding that this time, the tone will probably be “kind of pushing against the dovish signal.”

— A more upbeat view of inflation returning to the Fed’s goal of 2 percent might figure in the minutes following a leveling in oil prices and stabilization of the dollar, said Stephen Stanley, chief economist at Amherst Pierpont Securities.

 “The temporary factors that were pushing inflation down, oil prices and the dollar, seem to be fading,” Stanley said. “There will be increased confidence that inflation will push back to 2 percent over time. They are starting to see a little movement on the wage side as well,” adding to confidence.

— The tone of the economic discussion could be more upbeat. Second-quarter data have improved and indicators have picked up further since the meeting, said Omair Sharif, a rates sales strategist at Societe Generale in New York.

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U.S. stocks set for day in the red ahead of FOMC minutes, Alcoa earnings

FOMC minutes: The Federal Open Market Committee releases minutes from its June meeting, which could help shed light on the central bank’s thoughts on the timing of its first rate increase.

“The FOMC minutes have … potential to move the dollar, where investors will want to see how improved inflation prospects and wage growth might translate into greater potential for a September rate hike,” said Angus Campbell, senior analyst at FxPro.

“But given the dovish bias to growth forecasts, and external threats to the U.S. economy that remain, we feel September is too early for the Fed to make its first move,” he said.

The ICE dollar index DXY, -0.09%  was down 0.5% at 96.42 ahead of the market open.

The minutes are due at 2 p.m. Eastern Time. At the same time, San Francisco Fed President John Williams will give a speech on the economic outlook, in Los Angeles.

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Wall Street eyed sharply lower amid China fears, Fed minutes eyed

U.S. stock index futures pointed to a dramatically lower open on Wednesday as worries over China’s relentless sell-off and Greece’s debt crisis weighed on investor sentiment.

Dow Futures were as much as 200 points lower, before recovering some losses in the early hours before trading, following another painful trading session in China which saw stocks close down 6 percent, following an 8 percent slide earlier in the session.

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