Important Economic Speakers

11-22-2013 5-07-48 PMThe opening price on the E-mini S&P market today was (1784.25). At 3:20 p.m. US/Eastern time, the day’s high of (1795.50) was reached. The day’s low point of (1783.50) was hit about 5 minutes after market opening . According to the Bloomberg Economic Calendar, there were two important speakers today. Esther George, the Kansas City Federal Reserve Bank President, gave a speech on bank supervision at Bank of France conference in Paris. Daniel Tarullo, a member of the Board of Governors of the United States Federal Reserve Board since January 28th, 2009, gave a speech on shadow banking to Economic Policy Institute in Washington. There was no indication that the speakers had any significant impact on the market.

Eric Rosengren on Basill III

11-18-2013 4-41-48 PMThe opening price on the E-mini S&P today was (1798). The day’s high price was (1798.75) at 11:15 a.m. US/Eastern time. At 3:35 p.m. US/Eastern time, the low price of the day was (1784.75). Eric Rosengren, president of the Boston Federal Reserve Bank, came out in support for the narrower definition of capital under the global Basel III framework. In July, the Fed adopted the global Basel III rules in a commitment to draft tougher capital requirements for the largest banks. Basel III will force most banks to hold about three times as much top-quality capital as is required under existing rules, to reduce their risk and protect taxpayers from costly bailouts. The Federal Reserve Board will be required to undergo annual stress tests using three economic and financial market scenarios. Only a summary of the three official Fed scenarios would be made public. The rules would apply not only to banks but, also to all institutions with more than US$50 billion in assets. The Fed will begin implementing the Basel III framework in early 2014 and is expected to be fully implemented by 2019.

Important Speeches on the Econony

11-1-2013 5-07-03 PMThe opening price on the E-mini S&P today was (1755). At 10:10 a.m. US/Eastern, the day’s high was (1761.25). The markets low price point, (1747) was hit today at 12:20 p.m. US/Eastern. There were three important speakers today reported on the Bloomberg Economic Calendar. James Bullard, the St Louis Federal Reserve Bank President gave a speech on the economy and monetary policy in St Louis. Narayana Kocherlakota, the Minneapolis Federal Reserve Bank President gave opening remarks at healt conference in St. Paul. Jeffrey Lacker, the Richmond Federal Reserve Bank President gave a speech on interdependence in central banking in Philadelphia. There was no indication that the speakers had any significant impact on the market.

Trading Charts and Candles

1017chart2When day trading using a charting platform, the price is determined by candles on your chart. The candles are a visual representation of the fluctuation of the price during a given time frame. When using the NinjaTrader platform, a green candle indicates a price that closed higher than when it opened. Red, being the opposite, represents a price that closed lower than when it opened. A doji occurs when the opening and closing price are the same. On the E-mini, today’s opening price was (1669.25). Today’s low was (1167.25) at 9:35 a.m US/Eastern time and the high for the day (1679.50) was reached at around 2:05 p.m. US/Eastern.

Nonfarm payroll employment

Oct4ChartAThe opening price of  the E-mini  today was (1672). Today’s high price point was (1684) at about 12:45 p.m. US/Eastern, and (1670.25) was the lowest point at about 9:35 a.m. The Employment Situation report to be released today was not due to the government shutdown. Market Consensus data from the previous month was provided.  Nonfarm worker employment gained 169,000 in the month of August, following a revised increase of 104,000 for July (originally up 162,000) and after a revised advance of 172,000 for June (previous estimate was 188,000). Nonfarm payroll employment is a compiled name for goods, construction and manufacturing companies in the US. It does not include farm workers, private household employees, non-profit organization employees, or government employees.