My Top 4 News Websites You Should Be Reading

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My Top 4 News Websites You Should Be Reading

Whether you trade stocks, Forex, futures, or options, you need to be up-to-date on financial news. I can’t emphasize how important it is to be aware of pending economic news announcements, or earnings reports if you are currently in an open trade. Not only will it protect you from possible financial ruin, but it can help you to capture a potentially huge windfall. News is important to both fundamental and technical traders alike.

So, here is an overview of my top online sites for news about stocks, forex, futures, and the economy. I do look for different types of information from each one, but I wanted to share my favorite ones with you:

Forexfactory (www.forexfactory.com)
This is my go-to site for economic news releases. The daily calendar gives all the major news that can affect any of the international markets, including GDP, Crude Oil inventories, Unemployment and NFP, FOMC and other world releases and reports… to name a few. Economic releases are important to keep track of, as they can dramatically affect how the market moves. Each scheduled release also has an “Impact” key that shows the expected effect the report can have on the specific region noted.

MarketWatch (www.marketwatch.com)
This is a good site for market news, especially related to stocks. The information is good to know, but remember that they are writers and not traders… so keep that in mind.

finviz – Financial Visualizations (www.finviz.com)
Great overview site for stock traders. This site gives “top 10” lists of specific pattern stocks and signals that have potential trading opportunities. It also gives a great “heatmap” which is a color-coded chart showing sector strength/weakness based on specific companies. It is also a good source for a newsfeed of headlines related to specific names. Lower on the page you can find info on Insider Trading and key Futures stats, including Forex and Bonds.

TradingView (www.tradingview.com)
TradingView is awesome. If you setup a free account, the charting is really good for a web-based application. It is so good that Hawkeye will be developing our suite of indicators specifically to run on TradingView in the near future, and we will host it on our own website, thus freeing you from the attachment to any specific platform. More about this as we get closer to the finish line. Anyway, I like this site because I can filter news based on my interests (specific stock for example). On a single screen, I can review the technical chart and beside it are all the headlines related to the stock on the chart. What a great time-saver.

Of course, there are many others, like Yahoo! Finance, Google Finance, Reuters, Bloomberg, CNBC, etc… I just highlighted my favorites. What is important is the overall sentiment you get from the major headlines and articles, not necessarily what is specifically written in the articles… remember, they are writers, not traders.

Thanks for following my blog.

Trade safe!

 


 

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Randy Lindsey
Hawkeye Traders, LLC

Hawkeye Live Training Room Video Updates

The Free Hawkeye Live Training Room is held every Thursday from 8am – 11am US EST. We have an archive of past Training Room recordings available in case you wish to view them offline with some fresh popcorn and your iPad. Please use the following link to view the video. All future presentations will be posted in this same location. 

View the Recorded Video Now!

Please let me know if you have any questions, and I hope you enjoy the presentation. 

Good trading, 

Randy Lindsey 
Hawkeye Traders

Hawkeye Live Training Room Videos

The Hawkeye Live Training Room is held every Thursday from 8am – 11am EST. We have an archive of past Training Room recordings available in case you wish to view them offline with some fresh popcorn and your iPad. Please use the following link to view the video. All future presentations will be posted in this same location. 

View the Recorded Video Now!

Please let me know if you have any questions, and I hope you enjoy the presentation. 

Good trading, 

Randy Lindsey 
Hawkeye Traders

Forecast for the GBP/JPY

gbp/jpy daily chart
GBP/JPY – Daily Chart

With the US markets closed today for the annual Thanksgiving holiday, focus in the currency markets has centered around the Japanese Yen once again, as money flows continue to move into other currencies ahead of the Japanese elections in December. Both the USD/JPY and several of the cross currency pairs have seen sharp moves higher, with the GBP/JPY one of these, and climbing on the daily chart once again today, following yesterday’s wide spread up bar, which added further impetus to the move.

Following the breakout above the 130.00 price level, the bullish trend is now firmly established, with both the daily and three day trends firmly established. The Hawkeye Heatmap has also returned to bullish, following a period of transition, and with sustained and rising buying volumes on the daily chart, supported by buyers on the three day chart, the outlook for the GBP/JPY remains very positive. Finally of course, Hawkeye has delivered a conservative entry signal this week giving a solid entry for longer term trend traders in this currency pair.

Oil continues to trade in congestion

oil futures chart
January WTI Oil Futures – Daily Chart

January oil futures closed marginally higher yesterday, closing the oil trading session at $87.38 per barrel, having touched an intraday high of $87.89 per barrel, before ending the oil trading session just 10 cents per barrel higher. The current lack of direction for crude oil has been a feature of many markets over the last few weeks, as commodities in general trade in a consolidation phase as we move towards the year end, with the price congestion for oil clearly defined by the pivots above and below this current range.

To the upside, we have two isolated pivot highs, just below the $90 per barrel level, and below, two isolated pivot lows in the $85 per barrel price area, which define the limits of the current congestion phase. The most recent of these was on Tuesday, which is pushing the market lower as a result.

The Hawkeye widebar of early November was never validated, suggesting a lack of downside momentum, with the market pulling back to trade within the spread of the bar and failing to continue the bearish trend, with the daily trend now in transition to white. The three day trend however remains firmly bearish, with no transition as yet, and supported by heavy selling volumes in this time frame.

On the daily chart buyers have returned, but counterbalanced by yesterday’s rising selling volume in a narrow spread day. The Hawkeye Heatmap is in transition from bearish to bullish, but has yet to complete the full cycle, and the key now for the oil market, is whether we see a break above or below the current congestion. For a move higher, the $90 per barrel level is now key, and if this holds then we can expect to see a retest of the deep price congestion in the $92 per barrel area and beyond. A break below the $85 region, could see the market sell of sharply again, and test the $78 per barrel level in due course. As always, Hawkeye will reveal the future direction of the market, using volume as the only leading indicator.

Apple stock fails to rise following victory over Samsung

Apple on the daily chart
Apple ($APPL) – daily chart using Hawkeye

Apple’s recent patent victory over Samsung appears to have little impact on its share price, which hit a high of $680 on Monday before ending the week lower at $665.24.

This temporary pullback was signaled on the daily chart with two Hawkeye isolated pivot highs, the first on Monday and the second on Wednesday with the share price moving lower as a result. Despite this, however, the overall picture for Apple remains bullish with the chart displaying a bright green Heatmap and a green Trend on the daily and three day chart.

However, it is important to note that over the last two weeks we have seen volume on the daily chart declining and, in addition, this has also appeared as no demand volume, i.e. white, perhaps giving us an early warning signal of a potential reversal for the stock. Indeed on Friday, on the daily chart, we also saw selling volume appearing for the first time since early August adding further weight to this view. This pullback may be only temporary in the longer term bullish trend, but once again Hawkeye is giving an early warning signal of a possible reversal for the stock in due course.

If you would like to see Hawkeye in action, simply click the link below to join one of our Free Live Training Rooms where we trade using the full suite of tools and indicators across all the markets.