Treasury Budget Report

11-13-2013 4-40-34 PMThe E-mini S&P opened today at (1756.50). The day’s low price was hit within the first five minutes of opening at (1755.25). At 4:40 p.m. US/Eastern time the day’s high was reached at (1781.50). Each month, the U.S. Treasury releases a monthly report of the surplus or deficit of the federal government. Investors pay attention to changes in the budget balance of the annual fiscal year, as an indicator of budgetary trends. The deficit reduction continues into the first month of the government’s new fiscal year, with a $91.6 billion vs a deficit of $120.0 billion in October last year. That is a a 24 percent improvement. About $8 billion of the improvement is tied to calendar timing, meaning the actual year-on-year improvement is 17 percent. A gain in corporate income taxes are led by an 8 percent increase in receipts. The temporary government shutdown is perhaps to blame for outlays being down five percent. The year-on-year spending on defence is down 8 percent, with net interest expense down 18 percent.

Petroleum Status

Oct-23-2013-2The opening price on the E-mini S&P was (1742.25) today. There was a high of (1744) that was reached within the first ten minutes of the market opening. The lowest price was (1734.50) at 10:55 p.m. Eastern time today. For the 5th week in a row there has been a increase of domestic production together with falling demand in petroleum, resulting in a 5.2 million barrel increase in oil inventories to 379.8 million barrels. For the second time in weekly records domestic production is at 7.9 million barrels per day while imports are at 7.7 million. These recent increases are due to the surge in domestic production and also seasonal slowing at refineries which are operating at 85.9 percent of capacity. Inventories of gasoline fell 1.8 million barrels in the week while distillate inventories rose 1.5 million.

The LIFFE Exchange

1017chart2The E-mini S&P opened at (1708), which was the lowest price today. The days high of (1728.75) was reached at 4:35 p.m Eastern time. The LIFFE (London International Financial Futures Exchange), is a futures exchange based in London. It’s pronounced like the word “Life”. Since 2007, LIFFE has been a part of NYSE Euronext. Traders place trades from open outcry trading pits, using a variety of hand signals to communicate desired contract prices and quantities just like the CME. The FTSE markets are among it’s most popular derivatives. The operational times of the LIFFE Exchange are equivalent to 3:00 a.m. to 11:30 a.m. US/Eastern. The LIFFE is worthy of attention because it influences markets related to the Euro.

Using Price Action with the Euro Currency (6E)

On March 7, Day Trade to win’s John Paul took some time to answer questions about one of his favorite markets, the Euro Currency (6E). The Atlas Line produced around four long order signals in the morning between 9:30 a.m. and 11:00 a.m. These order signals were excellent for confirming scalp trades.

As soon as price dropped below the Atlas Line, a short order was produced. Again, this was an excellent trade – price fell allowing for massive points. Not to be outdone, the Atlas Line recognized a pullback trade as price started to climb again. Pullback trades are taught in the live webinar directly by John Paul. Using the Atlas Line, there is no need to second guess yourself – take charge of your trading!

euro currency trading

Using the Atlas Line to Trade Price Action

Demonstration of Price Action Trading on Multiple Markets Combined with Atlas Line Indicator Use

Very few indicators are compatible with price action trading, as they are based on volume, momentum or an abstract mathematical formula that has no real relevance to the tick-by-tick day trading world.

The Atlas Line is much different from those indicators. In fact, the Atlas Line is not very much like an indicator – it’s more of a tool to assist price action trading decisions. For example, look at this chart from yesterday’s e-mini and ask yourself what you would have traded if the Atlas Line was not present:

Right now, you can buy the Atlas Line day trading indicator with a six-month or a lifetime license for $599 or $1800.