Daily Game Plan from Cabrera Capital

Charts, Commentary, News, Technical Analysis

Monday, December 2, 2019

TODAY’S GAME PLAN:  

DATA/HEADLINES:  Markit November manufacturing PMI is at 9:45ET, with ISM manufacturing and October construction spending at 10:00ET.

Chinese PMI was stronger than expected coming in at 50.2 vs 49.5 the Caixin manufacturing index rose to 51.8.  Euro-Zone, German and French PMI data beat. TRUMP TO RESTORE TARIFF ON STEEL SHIPPED FROM BRAZIL, ARGENTINA. 

TODAY’S HIGHLIGHTS:   

The positive manufacturing data from China, coupled with better-than-forecast European numbers, is giving stocks a lift. Indices back off overnight highs after South China Morning Post says China economic recovery to be short lived as Novembers’ expansion has not led to any upgrade in growth forecasts for 2020.

EQUITIES:   pre market movers at bottom of this page

E-mini S&P is up 0.12%, Nasdaq +0.07%, RTY +0.28%. SPX hit the Fibonacci extension target of 3155 last week. Look for this area to hold for now. 


David Wienke

Cabrera Capital Markets, LLC

10 South LaSalle, Suite 1050

Chicago, IL 60603

Direct: (312) 931-6670

Trading: (312) 236-8907

Main: (312) 236-8888

Fax: (312) 236-8936


As always, please use protective buy and sell stops when trading futures and options.

Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

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Dave Wienke (96 Posts)


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