|Day's Range||6,811.68 - 6,938.75|
|52 Week Range||6,164.43 - 7,700.56|
Based on the early trade and the current price at 6842.50, the direction of the December E-mini NASDAQ-100 Index into the close is likely to be determined by trader reaction to the major 50% level at 6822.75.
US equities markets rebound in the early pre-market session, The European market was able to move higher in early Tuesday trading although markets were mixed.
Based on the Euro’s recent weakness, it looks as if investors are betting that Italy’s budget will fall short of the European Union’s expectations. If this occurs then the EU can send the budget back to Rome with the request for further revisions. However, it also has the option to work with the Italian government to overcome its obstacles.
The US dollar rose to new near 16-month high on last week’s bullish news. European markets moved lower as selling in the tech-sector intensifies. Traders wary of global oil supply.
There are too many variables to accurately predict whether a crash will happen. The world has been slow to recover since 2008, but progress is being made, and the modern world has woken up to the dangers of complacency.
Based on last week’s price action and the close at 7031.25, the direction of the December E-mini NASDAQ-100 Index futures contract this week is likely to be determined by trader reaction to the short-term 50% level at 7154.75.
After a strong rally at mid-week, following the mid-term elections that resulted in a split Congress, the markets sputtered into Friday’s close. The catalysts behind the selling pressure were weaker crude oil, disappointing data out of China and a hawkish U.S. Federal Reserve.
NEW YORK, Nov. 09, 2018 -- Nasdaq (Nasdaq: NDAQ) today announced that Xcel Energy Inc. (Nasdaq: XEL), will become a component of the NASDAQ-100 Index® (Nasdaq: NDX), the.
According to the Labor Department, the producer price index which measures price increases before they reach the consumer, jumped 0.6 percent in October after posting a smaller 0.2 percent rise in September. The increase exceeded the 0.2 percent forecast.
Based on the early trade, the direction of the December E-mini NASDAQ-100 Index is likely to be determined by trader reaction to the main 50% level at 7154.75.
The main trend is up according to the daily swing chart. It turned up earlier in the week when buyers took out 25845. A trade through 26268 will indicate a resumption of the uptrend. The next major target is the swing top at 26966. There is no strong set-up in either direction today.
Investing.com - Activision Blizzard (NASDAQ:ATVI) reported third quarter earnings that beat analyst's expectations on Thursday and revenue that was inline with forecasts.
On the positive side, the committee also noted that the unemployment rate “has declined” since the September meeting. On the negative side, the monetary policy statement noted that the “growth of business fixed investment has moderated from its rapid pace earlier in the year.”
Based on the early price action, the direction of the December E-mini NASDAQ-100 Index futures contract is likely to be determined by the main 50% level at 7154.50. More aggressive traders can use yesterday’s close at 7218.50 as the key price to watch today. Holding above it will indicate the buying is getting stronger. A break below it will put the index in a position to form a potentially bearish closing price reversal top.
The major U.S. equity indexes finished sharply higher on Wednesday after the mid-term elections presented no surprises and President Trump offered an olive branch to the Democrats. After the results of the U.S. mid-term elections showed a split Congress as predicted, Treasury yields began to rise as an early stock market rally started to pick up traction. Traders may have also been selling T-notes and T-bonds in anticipation of a hawkish monetary policy statement from the U.S. Federal Reserve on Thursday.
Investing.com - Monster Beverage (NASDAQ:MNST) reported third quarter earnings that beat analyst's expectations on Wednesday and revenue that topped forecasts.
Investing.com - Qualcomm (NASDAQ:QCOM) reported fourth quarter earnings that beat analyst's expectations on Wednesday and revenue that topped forecasts.
Investing.com - Fox Inc (NASDAQ:FOX) reported first quarter earnings that missed analyst's expectations on Wednesday and revenue that fell short of forecasts.
“Hopefully we can all work together next year to continue delivering for the American people, including on economic growth, infrastructure, trade, lowering the cost of prescription drugs,” Trump said in a news conference. “The Democrats will come to us with a plan for infrastructure, a plan for healthcare, a plan for whatever they’re looking at and we’ll negotiate.”
Global stocks mostly rise after the Democrats got control over the House of Representatives, but the Senate remained under control of the Republicans.
The U.S. Dollar settled slightly higher on Tuesday after posting a primarily directionless trade. The small upside bias suggests that traders could be favoring a Democratic House victory.
My take on reading numerous reports is that few are expecting a sweep by either political party and few are expecting the market to crash. Volatility is expected, but that’s just what markets do after elections. Expect headline risk if the results are split. Look for extended volatility if either party sweeps. Generally speaking, the volatility will be to the downside if the Democrats sweep, and to the upside if the Republicans sweep.
Based on the early trade, the direction of the December E-mini NASDAQ-100 Index on Tuesday is likely to be determined by trader reaction to the 50% level at 6974.50.
US markets are focused on two things; the mid-term elections and the FOMC meeting. Most Asia-Pacific based equity indices closed in the green on Tuesday. European Markets Down On Retail, A No-Deal Brexit Is Still On The Table
Investing.com - Regeneron Pharma (NASDAQ:REGN) reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.