Daily Game Plan from Cabrera Capital

Charts, Commentary, News, Technical Analysis

Tuesday, December 3, 2019

TODAY’S GAME PLAN:  

DATA/HEADLINES:  

The main event today is the NATO meeting in London, where President Trump is already making headlines with comments on trade.  U.S. auto sales data for November is published throughout the day.  Fed speakers have entered media blackout ahead of Dec. 11 FOMC meeting.

TODAY’S HIGHLIGHTS:   

Trump told reporters in London Tuesday he has no deadline for a trade accord with China and signaled he would be willing to wait another year before striking an agreement. The U.S. also threat to hit about $2.4 billion of French products with tariffs. The duties would be in response to a tax on digital revenue that hits large American tech companies. France said the European Union would retaliate.  Chinese state media said the government would soon publish a list of “unreliable entities” which could lead to sanctions against U.S. companies. 

EQUITIES:   pre market movers at bottom of this page

U.S. index futures reversed earlier gains and turned negative after President Trump signaled a trade deal with China may come after the 2020 elections.  Risk-off sentiment has S&P E-mini futures down 0.4% to its lowest level since Nov. 22.   

E-mini S&P is down 0.68%, Nasdaq -0.87%, RTY -0.63%. SPX hit the Fibonacci extension target of 3155 last week as we look for this area to hold for now, with a target of the 50dma area.  3090 area is initial key to start today.


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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