GAFNN.com Blog

I recommended a buy on Natural Gas it failed to make a bearish breakout on the yearly profile and i now expect it to trade back to the zonetrader pivot at 2.877. Hold onto the long position, if flat look to buy selloffs.

THE NON FARM PAYROLLS CAME OUT WORSE THEN EXPECTED THIS AM. THE CONSENSUS WAS 170K THE ACTUAL WAS 115K. WE LOOK FOR A DEVIATION OF 35K ABOVE OR BELOW THE CONSENSUS. IN THIS CASE THE NUMBER CAME OUT MORE THEN 35K BELOW THE CONSENSUS AND WE THEN EXPECT HEAVY SELLING IN THIS MARKET. LOOK FOR CONTINUE SELLING NEXT WEEK WITH DOWNSIDE TARGETS AT 1340.75, 1315.25 AND 1296.00.

The eurusd is attempting to make a bearish breakout on the year and the quarter. Look for sells on short to medium term charts. April jobs report came out this a.m. it was worse then expected. The expected was 170k and the number was 115k. We look for a deviation of 35k above or below the expected number. This suggest the u.s. economy is slowing. Be careful in this market this may be manipulation by large speculators, commercials, or banks to create buy opportunities for themselves.

ISM non manufacturing came out today worse then expected. The ESM12 has now broken below the Zone-Trader pivot on the weekly profile at 1396.00. Look for sells in this price area with a target at the 1387.00 price area.

THE ES REMAINS STUCK INSIDE THE PERSISTENCE ZONE ON THE WEEKLY PROFILE TOP AT 1408.25 AND BOTTOM IS AT 1387.50. BULLS AND BEARS ARE FIGHTING FOR CONTROL OF THE MARKET ON THE WEEK AND IT SHOULD REMAIN EXTREMELY VOLATILE. A NEW MONTHLY PROFILE IS FORMING CURRENTLY UNTIL IT COMPLETES AND PLOTS THE NEW LEVELS WE HAVE TO FOCUS 0N THE CURRENT ZT PIVOT ON THE MONTHLY AT 1393.00 TO LEARN MORE ABOUT THE METHOD TUNE INTO TODAY'S WEBINAR AT 1:30 PM PST OFFERED THROUGH TRADERS KINGDOM.
http://traderkingdom.com/

The U.S. released the current GDP numbers which came out worse then consensus at 2.2% and down from the 3% of the prior release. During the overnight session the ESM12 up-trended taking out the high of the prior day and finally found resistance at 1401.75. Be careful today if you are day trading this instrument, technically it appears that a bull trap is currently being set. Stay patient don't chase the market to the upside, and keep an eye out for the ESM12 futures contract to slam down off the highs and continue lower taking out the low of the prior candle on medium term charts, which would be 30 to 60 minutes in time interval. If this occurs look for price to sell off heavily to the downside as the trapped bulls stops get run, which convert to market orders and will drive the market further to the downside.

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