The Weekly Call – Trade Setups for the Week of July 19th

The Weekly Call provides perspective on high-quality setups and trading strategies focused in the Commodity world.. My current performance shows a 416% return since October 2016. The purpose of this blog is to demonstrate how to swing trade futures using our methodology to select high-quality setups and manage the trade with our risk management approach.

Two major market forces that are driving prices: 1. Corona Virus and the impact on the economy. Last week we saw an increase in jobless claims and also an increase in continuing claims. Hospitalization rates are near all time highs for Corona in the US and the top 5 state (AZ, FL, TX, CA ad GA) have an increasing death rate. If we see these stats continue to climb, local shutdowns will continue to weight heavily on the markets. 2. The Fed’s unlimited printing press is propping up asset prices. This works until interest rates start to climb then we see a Stagflation environment and the Fed will change its stance. The V shaped recovery is not playing out, more than likely we will see a W type recovery and sideways price action. The S&P 500 is about to retrace this week and I am looking for a print at the 3100 area. Commodities to watch are Wheat and Corn as drought conditions continue and will impact yields. We hit target on Gold and am looking for a pull back and another buying opportunity. Oil should follow the S&P lower into $35 as the next step down. I am still in the butterfly on NG which is doing well. Cocoa is about to rally and we should see continuation higher for about two months.  I am hunting long entries in Gold, and short entries in Oil and Copper. My track record is posted below under Completed Trades. See some of my completed trade videos below.

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