Focus-Points this morning:
· Traders across the globe reacting to positive news from the US
· Traders buzzing about a possible Fed Taper earlier-than-expected
· Equities trading in the Red across the board over fears of Fed Taper
· Gold lost 2% on Monday, traders looking for short-covering rally today
· Cyber Monday Sales exceed expectations with Amazon and Ebay winning big
·Hang Seng is lower -.50%
· FDAX is lower -1.25%
· E-Mini Nasdaq is lower -.20%
· E-Mini S&P is lower -.25%
· EUR/USD is higher +.30%
· Gold is higher .06%
· Crude Oil is higher +.25%
Economic News on the schedule today:
Today’s economic news calendar is very light, but don’t let that get us off our game this morning because Monday’s news was very important and the global markets are reacting to that news overnight and most likely will continue today.
We begin the session with Motor Vehicle Sales, which will throw more fuel on the fire for an argument for Fed Tapering, so we will be listening closely to the reaction in the price-action shortly after the start of the session today.
Looking forward to tomorrow we have three (3) Red-Star news events on the schedule which MAY have traders sitting on the sidelines later in today’s session. Keep an eye on the pace-of-tape indicator and the market personality after lunchtime today for clues to when the market is done trading for today.
Are any of these Red-Star news events today?
No, there are no Red-Star news events on today’s calendar, which means we will be watching for a range-bound market without any major news to push price-action to new higher-highs or lower-lows. Take your profit-targets conservatively today as traders look for reasons to participate, and if you see a good trend develop hold onto that runner.
Which markets will be affected by this news the most today?
Gold moved over 2% on Monday so we will certainly be keeping an eye on that price-action this morning. E-mini’s and Crude Oil are reacting to the speculation over Fed Tapering after Monday’s very bullish US news, so we will also be looking for trading opportunities there as well.
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