Day Note for Nov 07, 2018
7th November
Looks like Dems have the house. The overnight market is up but it remains to be seen how the mass of US Traders will react to the news.
We have increased news risk today and the next few days as the market absorbes the news and politicians put their feet in their mouths. Ears and eyes on the news.
Eyes on the pullback we had in the move down - 2820.
I'm not using the weekly profile still as it's still very volatile.
We are up overnight, so be wary of any snap back down off the open - might just be rebalancing.
Not a lot of scheduled news today....
Plan
- This is primarily a new-driven market, so technical levels are not so important
- Any move down off the open will be treated with suspicion
- I'm going to see how things play out, skip the opening trade and see if we have directional trade - if it's wild and illiquid, I'll stand aside
Daily Numbers
Range - 2729.75 . 2735.75 -> 2761
Value - 27042 -> 2751.50
Globex - 2744.75 -> 2786.25
Settlement - 2759
Today only -2820
Long Term Levels - 2797.50, 2868.75, 2892.75, 2922.50, 2697