“The tragedy in life doesn’t lie in not reaching your goal. The tragedy lies in having no goal to reach.” –Benjamin Mays

Today’s Newsletter:

Markets Today: Bullish across the board, sluggish start to the session

News Today: Crude Oil Inventories & FOMC Meeting Minutes

This Day in History: NASA, Tornado, First Securities Analysts

News for Tomorrow: More Red-Star News on the way!

Chart Prep for tomorrow: Buying opportunities on Gold, Mini-Russell, and

Crude Oil

Reflections from Today:

Today’s Trades:

o Crude Oil:

Never pulled back into our buy-zone

Buying Pullbacks, target reached @ price channel highs

o Gold:

Buy @ 1303.0, profit-target @ 1316.6

Waiting on profit-target

o Mini-Russell:

Broke out of the trading-range (long)

Breakout target reached @ 1156.5

Markets Today:

o Crude Oil:

Sluggish at the opening-bell

Pushed higher after Inventories @ 10:30am

174 ticks of range (typical)

Closing-print @ 103.30 (+0.92%)

o Gold:

Another sleepy session

125 ticks of range (typical)

Closing-print @ 1310.8 (+0.19%)

o Mini-Russell:

Sluggish at the opening-bell

Pushed higher after Lunch

186 ticks of range (typical)

Closing-print @ 1155.0 (+1.31%)

News Today:

o 10:30am: Crude Oil Inventories; Sharp rise in Oil Imports, combined

with increased Production in the US lead to the highest inventory

levels in over a year.

o 2:00pm: FOMC Meeting Minutes; Monetary Policy is likely to be

very ‘lose’ over the next few years, but plans for tapering have

remained the same. Expecting a jump up in GDP after bad weather is

shrugged-off this spring. Very optimistic report.

This Day In History:

o April 9, 1720: The earliest known publication of Securities analysis

in the London Flying-Post shows several authors discussing their

views of how to calculate the value of shares of the South Sea Co.

o April 9, 1947: Tornado rips through Texas and Oklahoma, growing to

be more than two miles wide, traveling over 100 miles in its path and

killing more than 130 people in the process

o April 9, 1959: NASA introduces America’s first astronauts to the

public. Seven men, all test-pilots for the Military, scheduled for their

first mission called ‘Project Mercury’ which was our first manned

space exploration.

o April 9, 1970: Investment Firm, Donaldson, Lufkin & Jenrette

launches the first IPO of an investment fund, thus allowing people to

not only profit from their ideas, but to profit from their company’s

success.

News Tomorrow

o More Red-Star News starts TONIGHT!

o 9:30pm: (AU) Labour Force Survey

o 12:00am: (CH) Merchandise Trade Balance

o 7:00am: (GB) BOE Announcement

o 8:30am: (US) Jobless Claims

o 6:30pm: (US) OPEC Releases March Oil Report

Economic News for Tomorrow:

Thursday brings a lot MORE Red-Star News events our way, which will keep the

volatility going strong as we push into the end of the week.

We begin this evening in Australia with the Labour Force Report, which is very

similar to our Non-Farm Payroll report in the US. This is Red-Star News, so be

ready for some action in the overnight session.

Tomorrow morning we hear from China’s Merchandise Trade Balance bright and

early (they say 12am, but it may be as late at 2:00am EST). This is also Red-Star

News, which will get the European Session moving well tomorrow.

We hear from the Bank of England tomorrow morning right before we begin the

US morning session. Look for the announcement from the BOE shortly after

7:00am EST tomorrow morning.

We have 8:30am EST Jobless Claims tomorrow morning to start the US morning

session, so we will be excited to trade that reaction to the news in our Live Trade

Room!

Later in the day on Thursday we will see the March 2014 Oil Report released from

OPEC, which will be used on Friday.

Trading opportunities for Tomorrow:

Crude Oil:

Yesterday on Crude Oil we discussed buying on the way up to

the 103.50 area, which is exactly what happened today.

Crude Oil VIP Chart:

Crude Oil was a bit slow at the opening-bell this morning, but after we heard from

the Inventory report at 10:30am EST we saw the buyers enter the market and we

began buying pullbacks on the way to the 103.50 area.

We see a lot of bullish clues on the VIP chart, but the volume down at the lows

tells us this afternoon push higher MAY not last. We will be watching the

opening-bell tomorrow to see if that is the case.

Crude Oil 64 Anchor Chart:

We have tested the sell-zone at 103.85 to 103.07 this evening, which tells us that

sellers are going to be entering the market this evening and tomorrow.

Remember, we have the Oil Report tomorrow night from OPEC, so a price-

reversal may take another 24-hour.

Crude Oil 16 Anchor Chart:

Crude Oil pushed right into the highs of our bullish price channel this evening,

which tells us that buyers will be taking profit, and the sellers will likely try to push

this off the highs.

Our plan for Crude Oil is to look for short term selling

opportunities off these highs, using the buy-zones below us as

profit-targets.

We will then be looking for buying opportunities at 102.90, 102.40, 101.85 and

100.74 with profit-targets above us at 104.21, the 105.00 big-round-number, and

105.65.

Gold:

Yesterday on Gold we called a trade to buy @ 1303.0, and we

are ¾ of the way to our profit-target @ 1316.6.

Gold VIP Chart:

Gold continues to ‘wait’ for something this week with narrow trading-ranges and

very slippery price-action in the US Session. The biggest issue facing Gold traders

in the US right now is that most of the bigger moves in price are happening

overnight in the Asian and London trading sessions because there is so much

going on in the ECB that applies to Gold.

Gold 64 Anchor Chart:

Not much has changed on our 64-anchor chart of Gold futures this evening.

We’ve had very narrow ranges this week, which tells us this market is waiting on

SOMETHING. As professional traders, we don’t care what they are waiting on, but

we must stay patient to wait for better price-action as the week develops.

Gold 16 Anchor Chart:

Gold has been sluggish this week, but when you open our 16-anchor chart you

can clearly see the bullish price channel that was hard to define on the other

anchor charts, giving us buying opportunities on Gold at 1308.3 and 1304.2 with

profit-targets above us at the highs of the price channel, as well as 1320.0 and

1325.1.

Our plan on Gold is to keep buying pullbacks on the way

higher to the top of this bullish price channel.

Mini-Russell :

Yesterday on Mini-Russell we called a breakout trade above

1147.0, and we have reached the profit-target @ 1156.5

Mini-Russell VIP Chart:

The Mini-Russell finally broke out of the range from the last 48-hours, and pushed

into the range from last Friday’s Non-Farm Payroll report that pushed the prices

lower.

Keep an eye on the previous week’s highs up at 1190.4

because if the Mini-Russell continues to be strong that is

where we will be targeting for the buying opportunities.

Mini-Russell 64 Anchor Chart:

The buyers are going to have a challenge to re-test last week’s highs because we

can easily see a resistance zone overhead at 1158.2 up to 1165.9 which may keep

the price from moving drastically higher in tomorrow’s session. We will be

looking for clues at 1158.2 to see if the sellers enter the market for a price-

reversal and selling opportunities to following tomorrow’s trading session.

Mini-Russell 16 Anchor Chart:

If you’re looking for buying opportunities you don’t need to look any further than

the 16-anchor chart of Mini-Russell this evening. We can see higher-highs,

higher-lows, and a bullish price channel telling us to look for opportunities to buy

Mini-Russell on a pullback so we can get into the trade on a discounted price off

the highs.

Our goal on the Mini-Russell is to look for buying

opportunities this evening and tomorrow using the levels at

1153.6, 1151.5, 1148.3 and 1143.2 with profit-targets above

us at 1159.7 and 1162.4.

Remember, we have that major resistance on the 64-anchor chart at 1158.2, so

keep an eye out for a price-reversal and some selling opportunities tomorrow

later in the session.

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