New week comes. How are you? How is your seven business days? Always, I wish you have been doing well. Today, I’m glad to be back to do my regular job: sharing information on financials, metals, energies and other related news to help you guys who have the same interest in futures trading.

Since energy resouces keep an important role in daily life, this market alwsays get much concern from all of us. Now just have a quick view on energy market. Last week, Natural Gas had a tough time as this market got pummeled below $4 on the NYMEX.  Inventories are very weak and this is the time of year when natural starts to sell off so look for this market to try and consolidate around the $3.60 level before heading any higher. While around metal market, Copper had a huge rally on the Sunday night session as December broke above $3.40 to trade at $3.46. There are evidence for a prediction of the fact that copper going back down to $3.35 before heading higher ahead of the non-farm payroll action Friday. Just take care of those markets to decide your business!

As normal, we cannot neglect the financial market. Our expert – PitGuru Frank LaMantia – will not let you alone by doing analysis and sharing the information with you guys. And there is not any exception this week. He is back and brings you valuable review. Now we will take some time to check out his reseach: “The market is down because of a lack of confidence. The market is hoping that manufacturing picks up while consumers head for the bunker. The S&P may need to stay above 1066.00 in order to show it can take a few hits from the bear claw. The monthly job report will be announced Friday. It will be a holiday weekend and many will be on vacation or leave early for a half day. This does not mean the market will not swing in one direction or another. So, be ready on Friday!

This morning economic data was announced showing an increase in consumer spending which rose 0.4% in July after 3 months of bad announcements. This could be back to school spending accounting for this rise. Now, if Aug. and Sept. numbers show a rise this will get Wall Street’s attention. This trader is unsure because the consumer is struggling and these numbers may be inflated for a short period. Durable goods rose 1% in which half was auto sales. Doesn’t this sound like parents buying vehicles for their children going to college?The economy may not be growing fast enough to support job growth which can lead to economic disaster if action is not taken. Job creation and stability of the consumer is needed to get this country back on track. The people built this nation and the government needs to let them build it again!”

Are you tired? I think you may be exciting with such the information worth to your trading. Did you note down key points? As always, since you are earning from trading in futures, you are recommended to checkout other weekly futures reviews or to pay attention to daily futures price reports or to regularly check out  currency exchange rates. Remember markets are changeable and have interaction to the others! Changes in energy or currency market can cause changes in others. So, don’t miss any news valuable to your trading!!

- About the Author: I’m a trader in futures trading floor. I’m always eager to learn and share. Reading and searching are my hobbies. Article Source

The Dow pushed up through the 618% at 10,165/72 therefore that took out the Elliott wave structure downwards for the time being, but it has not taken out the terminal high of 10,408, indeed technically the Elliott count down is still in play, this is major to realize ahead jumping the gun and exiting or going long, the news that pushed the market overnight will be disregarded tomorrow.

Firstly, we need to see if resistance becomes support at 10,300, there are markets on their supports in Australia mainly, the Materials sector, as it is above the MediumLevel 11,500, in line with US BHP above 65 and local BHP above 38, the banks on the other hand are not supported they are facing resistance, the Dow is on 10,000 which is support, we have been anticipating a break there, the same with the XJO on 4300 support (Group1)

Gold is not on sustained, sure it has rallied and might shatter from 1200 or push to 1230 if the Dow pushes to 10600, however for now it is under 1200.

Forex, the AUD will push higher leading stock, whenever the DXY breaks done 82, it places it into a bigger bearish picture toward 80 and the Euro above 1.30 this would change the wave counts there, it hasn’t occurred as yet and we require seeing this played out

It would be tempting to chase the resource today, if so keep it tight and understand Copper is creating the first high above the level TL3 and will retest it, so expect a likely pull back and crude touching on 80 will meet with a reaction, I saying don’t get trapped, play a shorter time frame.

The ASX200 XJO is finding support at 4400 however it starts running into supply and resistance at 4500, the 618% retrenchment is around 4700 and the 50% retrenchment at 4600, so there is resistance all above 4500, so whatever happens at 4500 will set the scene for the next trend. There are a variety of things that can happen, firstly, it is likely to react to some degree, either failing at this level or gathering itself after the reaction and climbing above creating the first high above the level then retesting the level for support, but normally the first high above the level is the top of the last trend, so from here a larger pattern would unfold across 4500, eventually finding support if this is the case we would be trading long from here, the other point on the local markets is that stocks are current oversold and without the fear of the US to hold then down they will move up quickly, so we also need a trading plan for that.

In a nutshell the resistances for the Dow at 10,500 and the ASX200 at 4500 are the key points for the week ahead. Whenever these levels become support then we can await higher moves, these events when they come will take time to evolve we will be discussing the finer details of this possible ness if it unfolds.

- About the Author: TradingLounge™.com.au and the TradingLevels™ Analysis Service have been developed by Peter Mathers to meet a growing demand for accessible, sensible education and his TradingLevels™-based analysis. Delivering high quality analysis and trades recommendations for shares, CFDs, cfd technical chart analysis, indices, commodity, the TradingLounge™ has been in strong demand growing from strength to strength. Peter is author of “Trading CFDs in Today’s Markets“. If you want to know more about trading analysis, click here. Article Source