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Technical Analysis

Netflix Inc (NFLX) | Technical Breakdown


NFLX Chart.JPG

 

Following Netflix’s record breaking Q2 subscriber growth report back on July 17th, shares have been on a rip with over 16% in just a few days. This was a big moment for NFLX to prove that they are still a major growth company.

Prices reached all time highs of $191.50 before cooling off and pulling back in the the mid $180s. Volume has remained strong on the buy-side but we will eventually have to see some profit taking over the next few weeks.

Look for a pullback to come but ideally we won’t want to see it break below the lows from the big gap day which was at $174.24. That will be an important level to watch because if it break below we could see prices gain further downside momentum to the $167 level. Look for the next major level of resistance to come in at $200 if buyers can push it that high.

NFLX 30.JPG

 

Taking a closer look at the 30 minute chart you can see that shares have been in a nice up trend with major support levels coming in at $181.90, $186 and resistance at the all time highs of $191.50.

The longer we hold at these higher prices the better the chances are they we make a push for $200. Buyers are currently in firm control of the tape and this momentum should remain strong throughout the rest of this quarter. Keep this one on your radar!

Ross Cameron is an active trader and owner of Warrior Trading which he founded in 2012 as a live trading chat room emphasizing education and idea generation. In 2014, he began teaching trading classes, taking a break in 2015 to write a best-selling book How to Day Trade, which can be found at Amazon, Barnes & Noble, and other booksellers. Trading allows Ross to travel and bring his work with him. Today he continues to trade in his chat room and teach trading courses, and lives with his family in Vermont.

This article is from Warrior Trading and is being posted with Warrior Trading’s permission. The views expressed in this article are solely those of the author and/or Warrior Trading and IB is not endorsing or recommending any investment or trading discussed in the article. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


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Technical Analysis

Key Charts (Gold, Dollar, Oil and more) heading into Wednesday's open with Dan Gramza


Dan Gramza takes a look at some key charts heading into Wednesday's open, including gold, oil and the dollar.

 

This Daily Market Studies are presented by an unaffiliated third party and Interactive Brokers LLC does not create the content of these presentations. You should review the contents of each presentation and make your own judgment as to whether the content is appropriate for you. Interactive Brokers LLC does not provide recommendations or advice. This presentation is not an advertisement or solicitation for new customers. It is intended only as an educational presentation.

This video is from Dan Gramza and is being posted with Dan Gramza’s permission. The views expressed in this video are solely those of the author and/or Dan Gramza and IB is not endorsing or recommending any investment or trading discussed in the video. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IB to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


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Macro

GUOSEN Closing Bell (July.26)


MARKET

Chinese stocks closed mixed today, with the benchmark Shanghai Composite Index ended at 3247.67 points. The Shanghai Composite Index touched a 3-month high after market open but retreated afterwards. Most blue chips lost ground, dragged down by household appliance, food & beverage, automobile and medical shares, as investors locked profits from earlier rises in these sectors. Nonferrous metal and chemical sectors led the gains; while household appliance and food & beverage sectors led the falls. Combined turnover for both markets was 460.69bn yuan, up 5.99% dod.

 

Close

% Change

Vol (bn yuan)

%YTD

Shanghai

3,247.67

0.12

228.46

4.64

Shenzhen

10,297.34

-0.54

232.23

1.18

CSI300

3,705.39

-0.38

146.52

11.94

ChiNext

1,681.31

-0.40

65.55

-14.31

 

Sector

Top 1

Led by

Top 2

Led by

Upward-leading

Nonferrous metal

300428

Chemical

002068

Downward-leading

Household appliance

000921

Food & beverage

600300

 

NEWS

*China railway investment up 1.9 pct in H1. China's railway investment increased in the first half year and national railway investment is expected to hit a new high in 2017, authorities said Wednesday. In H1, fixed asset investment on railways hit 312.5 billion yuan (about 45 billion U.S. dollars), up 1.9 percent year on year, according to the China Railway Corporation (CRC). (Xinhua)

*Rumors that China has forbidden the import of scrap copper has been confirmed by China Nonferrous Metals industry Association. (CNstock)

 

FUND FLOW

Click here for more information about Guosen.

This article is from Guosen Securities Co., Ltd. and is being posted with Guosen Securities Co., Ltd.’s permission. The views expressed in this article are solely those of the author and/or Guosen Securities Co., Ltd. and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 


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Macro

European Market Outlook: Aussie CPI Misses, AUD Slumps; All Eyes on FOMC


Morning Briefing July 26th 2017


While there is a fairly busy docket on Wednesday, all focus will be on the FOMC announcement later in the session.

Things in Europe get underway with French Consumer Sentiment at 0645GMT, followed by Spanish Retail Sales at 0700GMT.

France then release ISTAT Business/Consumer Confidence at 0800GMT.

The first estimate of UK Q2 GDP will be released at 0830GMT along with the Index of Services. Analysts see second quarter q/q growth ranging anywhere from as low as 0.2%, equal to showing in the first quarter, to as high as 0.4% q/q, in line with the MPC's May Inflation Report forecast.

At the same time UK BBA Mortgage Lending data is released.

Across the Atlantic proceedings kick off with MBA weekly applications index at 1100GMT.

A quiet start to US trade sees a quiet spell in data terms, then US New Home Sales are released at 1400GMT.

At 1430GMT DoE Weekly Crude Inventories are released, the figures will be closely watched after good gains made in oil yesterday, and large draw in API inventory figures.

At 1530GMT ECB Executive Board member Sabine Lautenschlaeger gives a speech at book presentation "100 Years of Women's Vote", in Berlin.

Rounding off the day with the main event, at 1800GMT the FOMC will deliver their rate announcement. No change is expected from the FOMC but the release will be closely scrutinised for clues as to the committees plans for balance sheet reduction.

 

Global Economic Trading Calendar


 

Markets


SNAPSHOT: Below gives key levels of markets in the second half of the Asia-Pac session: - Nikkei 225 up 100.31 points at 20056.24 - ASX 200 up 57.005 points at 5783.6 - Shanghai Comp. down 8.392 points at 3235.791 - JGB 10-Yr future down 13 ticks at 150.13, JGB 10-Yr yield up 0.5bp at 0.081% - Aussie 3-Yr future down 1 ticks at 97.99, Aussie 3-Yr yield up 1bp at 2.027% - Aussie 10-Yr future down 5 ticks at 97.26, Aussie 10-Yr yield up 4.4bp at 2.734% - US 10-Yr future up 1 tick at 125.19+, US 10-Yr yield down 1.79bp at 2.3175%.

US TSY/RECAP: Treasuries end Tue weaker but off session low, after selloff led by German Bunds, but then a solid $26B US 2Y auction. Tsys began NY weaker after overnight 2-way flow, and 5:03am ET large 10Y Tsy futures block sale of 12,728 TYU at 126-00. T-Notes open Asia at 125.16, 10-Year yield last 2.335%.

BOJ: BoJ offers to buy total Y400bln of JGB's from the market, all sizes unchanged from the previous operations: - Y100bln <1-Year JGB's - Y200bln 10-25 Year JGB's - Y100bln 25+ Year JGB's.

US TSYS: Sources noting volumes in US tsys are already decent on screen, with 1.1bln 10's trading (one clip of 150mln just got sold with no impact at all). - Sources add only seen buying so far, with one exception of a single seller in the long-end. Another 3.5k contract lift in TY is helping support the Treasury market.

US EURODLR FUTURES: Still maintaining move lower from yesterday, just off lows from yesterday. Curve flattens slightly after bear steepening in previous session, decent volume for Asia. Markets looking ahead to FOMC decision tomorrow.

JAPAN STOCKS: Japanese stocks went into the lunch break higher, the Nikkei 225 up 93.42 points at 20,048.62. The index opened sharply higher, buoyed by strength in US stocks and positive earnings data. A weaker yen also helped support Japanese stocks, with USD/JPY last at 111.90 from the open around 111.20 yesterday. Other stocks in the region are mixed, in Australia the ASX200 is up 60 points supported by mining stocks with decent  performance from base metals in the session. The Hang Seng has dropped into negative territory along with mainland China stocks after initially seeing gains.

OIL: Oil is up slightly in Asia, moving in a narrow range but holding on to strong gains made yesterday. WTI last trades at $48.36, up $0.48. - Oil hit the highest closing level in over a month yesterday, supported by several factors. First the OPEC/Non-OPEC meeting seemed to reaffirm commitment to the output cuts, with Saudi Arabia saying they would reduce exports, UAE promised similar moves and there was talk of conditional output caps for Nigeria. US producers added to positive sentiment in the oil market, The move higher was accelerated after a large draw down in the API inventory figures. Headline crude saw a 10.2mln bbl draw, while cushing stocks fell 2.57mln bbls and distillate stocks fell 111k bbls.

GOLD: Gold is down in Asia-Pac trade, extending the decline from trade on Tuesday. The yellow metal last trades at $1,247.47, down $2.59. - Gold is falling at the US dollar index (DXY) bounces back from a 13-month low ahead of the FOMC, also suffering due to the recent rise in US tsy yields. Trade has been broadly risk on during Tuesday's session and so far on Wednesday in Asia, which has taken some of the shine off gold. - All focus will be on the FOMC meeting later today, though no change is expected markets will scrutinise the statement for hints as to how the Fed will proceed with balance sheet normalisation.

FOREX: Ahead of today's FOMC statement trading in Asia was a dull affair, the dollar was in consolidation mode and held mostly to tight ranges. Dollar-yen carved out an uneventful Y111.84 to Y112.09 range, last at Y111.89 and precisely where it closed in New York yesterday. Aussie came under pressure following weaker local inflation data, the pair dropped from $0.7936 to $0.7893 before recovering ahead of a speech from RBA's Lowe. Meanwhile, Euro-dollar currently trades at $1.1650 and Cable at $1.3029, after trading in respective ranges of $1.1638 to $1.1654 and $1.3021 and $1.3031.

 

Technical Analysis


BUND: (U17) Overall Focus Now On 160.31

*RES 4: 163.04 100-DMA
*RES 3: 162.67 High July 24
*RES 2: 162.29 Hourly resistance July 25a
*RES 1: 161.87 Hourly resistance July 25

*PREVIOUS CLOSE: 161.60

*SUP 1: 161.56 Low July 25
*SUP 2: 161.02 Low July 13
*SUP 3: 160.83 Low July 12
*SUP 4: 160.31 Low July 7    

*COMMENTARY: Bears capitalised on the lack of follow through on Monday’s break of 162.60 with a sell-off and bearish close that sees bears now focused on tests of 160.31. Daily studies looking to correct from O/B add weight to the bearish case. Layers of resistance are accumulating with bulls needing a close above 161.87 to gain breathing room and above 161.29 to shift focus back to 162.67.

 

EUROSTOXX50: 3463.74 Support Key Today

*RES 4: 3529.99 High July 20
*RES 3: 3515.84 100-DMA
*RES 2: 3508.90 Hourly support July 20 now resistance
*RES 1: 3494.66 High July 25

*PREVIOUS CLOSE: 3473.54

*SUP 1: 3463.74 Hourly resistance July 24 now support
*SUP 2: 3431.19 Low July 24, Bollinger band base
*SUP 3: 3407.33 Monthly Low Apr 19
*SUP 4: 3390.04 Low Mar 13

*COMMENTARY: Fresh 3mth lows lacked follow through Monday with support again emerging on dips around 3430-35. The recovery Tuesday resulted in a pop above the 21-DMA (3487.98) but follow through has been lacking. The 3463.74 support is key today, while this level holds bulls focus on a test of 3508.90-3555.37 where the channel top and 55-DMA are situated. Bears need a close below 3463.74 to retain immediate focus on retests of 3431.19.

 

Eurex Futures Market Close


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This article is from Eurex Exchange and is being posted with Eurex Exchange’s permission. The views expressed in this article are solely those of the author and/or Eurex Exchange and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


13959




Technical Analysis

Arabica Coffee (KC) Testing Daily Chart Upchannel Support


Arabica Coffee (KC) saw a 2nd day of profittaking yesterday, breaking below ascending wedge or uptrend support (on the 4hr chart), and closing at upchannel support (on the daily chart).  KC will likely see further selling today as it has yet to reach the 38.2% Fib retrace of the rally from late June.  Additionally, the daily RSI, Stochastics and MACD are all fairly bearishly sloping down.  Nevertheless, once the selling over the next day or so completes, KC will begin basing likely near its 50% Fib retrace of the rally from late June and will attract fresh longs.  I am flat after profitably closing a short yesterday and will look to enter long as early as Thursday, in the green zone (of the daily chart), targeting the red zone for early next week.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).

 

Arabica Coffee (ICE KC Sep17) Weekly/Daily/4hr/Hourly

 

Click here for today's technical analysis on Bitcoin, Ethereum

 

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures and spot FX markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

 

This article is from Tradable Patterns and is being posted with Tradable Patterns’ permission. The views expressed in this article are solely those of the author and/or Tradable Patterns and IB is not endorsing or recommending any investment or trading discussed in the article. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

 

 


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