Natural gas futures was the best performing asset class, reporting its best week of the year on signs that summer-like temperatures will help reduce supply. The futures were up 13 percent for the week; up the most since the seven days, ended January 1st. Short sellers covering their short positions seem to be driving the recent run-up. An above-normal temperature across most of the lower states is expected to rise at the start of May, pushing demand for the power-plant fuel to run air conditioners.
In the currency market, the Japanese yen was the worst performing currency, as reports surfaced that the Bank of Japan is considering more aggressive easing in the form of additional stimulus measures. This could mean the implementation of negative lending rates to financial institutions in Japan. In the week ahead the Bank of Japan’s highly anticipated monetary policy meeting and statement will likely attract more volatility and trading opportunities.
In the commodity market gold futures finished the week practically unchanged, however, prices did manage to bounce from the short-term uptrend support to the resistance and then back to the support line. Crude oilfutures also provided trading opportunities based on short-term technical forecasting techniques.
In the week ahead, I will focus on the technicals for trading opportunities. I will continue to display charts of trending markets as well as rangebox set-ups to enhance our trading experience during The Trading Room® and IQ Room sessions.
Join us this week and experience the power of market intelligence. We will be show casing the new Einstein SmartBox automated trading system with cross-market relationships and correlations analytics.
Joe Rios – Founder, Rios Quantitative LLC
The Trading Room TradeLAB – Global Trading with Quantitative Technologies
Monday through Friday
Join our trading community with RiosQuant founder and trade coach Joe Rios as well as the RQ members. Live demonstration of our pre-market quantitative analysis, real-time trading signals with RQ algorithmic technology, strategy performance review and Q&A session.
ATTENTION MEMBERS – To access The Trading Room® TradeLAB please log-in on the riosquant.com site and click on the link under The Trading Room. If you are already logged in, then click on the “My Account” found on the upper right hand corner of the first page.
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Click on the following link and register as a guest.
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The Insider’s Quant (I.Q.) Room
Monday – 12:30 pm
The Week Ahead
Wednesday – 12:30 pm
Back to Basics
Thursday – 12:30 pm
Insider’s Round Table Meetup
THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING COMMODITY FUTURES, OPTIONS, AND FOREIGN EXCHANGE PRODUCTS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS