From the desk of Joe Rios
The Bank of Japan’s unexpected announcement to expand monetary stimulus pushed global stocks higher, helping the S&P 500 close the week near record highs and drove the Japanese Yen to the lowest level since December 2007. The stock market correction that started in mid October reached a full recovery by Friday, the final trading session for October. The Nikkei led the way gaining 10.1% followed by the Russell 4.8%, DJIA 3.3%, Nasdaq 2.5% and S&P 500 2.5%. The US Dollar also responded by rallying higher to break out of the early October highs, pushing most foreign currencies down to key support levels.
The commodity market also provided trading opportunities with Natural Gas, Soybeans and Corn all rising 6.7%. The metals provided shorting opportunities led by Silver dropping
-5.9% and Gold -4.7%. In the week ahead we have a busy calendar with corporate earnings news, key economic data, and the mid-term elections. My focus will continue to be on the correlations between the US 10 Yr Treasury Notes, S&P 500 and the US Dollar. All of the major markets finished the week at key levels, therefore I expect plenty of trading opportunities in the week ahead.
Rios Quantitative LLC – Chief Market Strategist
Live Trading Rooms and Events: The Trading Room TradeLAB
Global Trading with Quantitative Technologies
Monday through Friday beginning at 7:30 AM ET
RQ trade coaches include Edward Preston, Steve Schwartz and Joe Rios. Live demonstration of our pre-market quantitative analysis, real-time trading signals with RQ algorithmic technology, strategy performance review and Q&A session.
Insider’s Quant (IQ) Room
Advanced Concepts with Joe Rios
Monday at 10:30 AM ET (part of the TradeLAB)
Tuesday and Thursday beginning at 1:30 PM ET
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Covering the RiosQuant Trading Indicators:
Wednesday beginning at 7:30 PM ET
Topic: Next Big Swing Using Pattern ID
RiosQuant Performance Coach Steve Schwartz
Saturday beginning at 11:00 AM ET
Topic: Think Smarter Trade Better
Presenter: Steve Schwartz