Today, the opening price on the E-mini S&P was (1804.75). Today’s high price was (1809) at 12:55 a.m. US/Eastern time. At 4:00 p.m. US/Eastern time, the low price of the day was (1797). The Construction Spending data represents the dollar value of new construction activity on residential, non-residential, and public projects. The data is available in nominal and real (inflation-adjusted) dollars. For the month of October construction outlays made a comeback. Construction outlays rebounded 0.8 percent after a decline of 0.3 percent in September. Public construction spending is up a monthly 3.9 percent, followed by a 1.9 percent decrease the month before. Private residential outlays went down 0.6 percent in October, following a 1.7 percent boost the month before. New 1-family spending declined 0.6 percent after rising 1.7 percent. Multi-family outlays went up 2.2 percent after jumping 4.3 percent in September. Residential outlays excluding new homes dropped 1.2 percent, following a gain of 3.6 percent the month before. Nonresidential private outlays dropped 0.5 percent in October, following a 1.0 percent decrease in September.
The E-mini S&P opening price today was (1801.75). Today, the price (1798.75) was hit at 10:10 a.m. US/Eastern time. The high price (1807) was reached at 3:30 p.m. Eastern time. Each week, the International Council of Shopping Centers publishes a report of the weekly measure of comparable store sales at major retail chains. Investors want to know about this report because accounts for roughly 10 percent of total retail sales. There is not much explanation as to why this weeks growth surged 2.6 percent while the year-on-year rate fell a sizable 7 tenths to only plus 2.1 percent. The trend in this report is that the Black Friday sales are going to be flat, which will not make or break November.
This morning, the E-mini S&P opened at (1788). The day’s high price of (1794.25) was hit at 10:25 a.m. US/Eastern Time. The day’s low (1774.50) was hit at 3:10 p.m. US/Eastern. William Dudley the New York Fed President talked about the labor market at the press conference on regional and national economy in New York this morning. He mentioned that the Fed wants to bring the unemployment rate down as part of its dual mandate. The NY Fed president expects that economic growth will improve to a range of 2.5 percent to 3 percent in 2014. He expected inflation to remain below the Fed’s goal of 2 percent in 2014.
Today’s opening price on the E-mini S&P was (1753.50). The lowest price point today was (1754) at 11 a.m. Eastern time. The high today was (1760) at 2:45 p.m. Eastern. The economy is usually strengthened by sales on the housing market, but for four months in a row it has been hard to tell since pending sales have been down. The index level of pending home sales has fallen to 101.6 vs 107.6 in August, for a 5.6 percent decline. In nearly 2-1/2 years this has been the first negative reading of the year-on-year index, which is down 1.2 percent. According to the National Association of Realtors (NAR), the recent government shutdown has pushed government workers and contractors to the sidelines of the housing market. Sales of existing homes had been slightly stronger, but not my much. The NAR says that today’s report points to a no better than a flat trend for final sales through the 4th quarter. This report had little effect on the the market following today’s results.
This video shows how the Atlas Line did today on the E-Min S&P, as a follow up from last week’s very informative webinar.
See how John Paul demonstrates how the Atlas Line Pullback accomplishes getting us more trades as the price continues to be above the Atlas Line.
We always trade with confirmation of the price using the Atlas Line before entering any trade, and so should you.
Objective, consistent and confident is what each trader should have when trading, and having the right tools can make the difference.
Atlas Line Pullback trades are taught during the free private live training that is included as part of the purchase. The training with John Paul will teach you to trade the Atlas Line method with clearly simple and objective rules.