A Day of Waiting

2024-01-10 / Joe Rokop

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Description: Tomorrow key inflation data and major earnings reports will be released, which are both expected to move markets. But as for today, the market stayed neutral as it waits for tomorrow’s signal.

Technical Analysis: Indices were slightly rising near the market close, but no more than 0.50%. Tomorrow’s inflation data could either cause a major pullback or a rally – only time will tell.

Economy: Analysts are expecting inflation to be at 3.2% during tomorrow’s reading. The Fed’s ultimate goal is to get inflation down to 2%, which they believe will take two more years of work.

Commodities: Following a rise in U.S. oil stockpiles, U.S. West Texas Intermediate crude futures dropped 1.2%, 87 cents, to $71.37 per barrel.

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Joe Rokop

Joe Rokop is a Commodities and Equities Trader, and Futures Specialist. Joe started on the NYMEX trading floor in Manhattan and has experience in both the commercial and proprietary sectors. In the past fifteen years, he has been focused on trading commodities, indexes, and equities through futures, options, and OTC derivatives. Joe has established a comprehensive understanding of the crude and crude product fundamental suite. Since crude oil is a high-demand global commodity, all economic news and events in various market sectors must be analyzed and applied to these trades. His experience as an active trader, as well as his prior experience in a corporate setting, means he’s developed an in-depth knowledge of the ever-changing global marketplace. Joe holds dual degrees in Industrial Enterprise System Engineering and Business Systems Integration and Consulting from the University of Illinois Urbana-Champaign. Outside of this, Joe enjoys soccer and practicing yoga. He believes the physical and mental benefits of yoga have helped his psychology within the trading space and recommends this for all retail traders. His specialties? Trading, mentoring, and coaching; OTC trade negotiation, risk management, networking, market analysis, engineering, and business consulting — just to name a few. His main goal at Simpler Trading is to help others become better traders and realize better results. He genuinely enjoys sharing his experiences, passing on his extensive knowledge, and coaching his clients towards the achievement of their goals.

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