Daily Game Plan from Cabrera Capital

Charts, Commentary, News, Technical Analysis

Tuesday, December 10, 2019

TODAY’S GAME PLAN:  

DATA/HEADLINES:  

House Democrats plan to unveil two articles of impeachment against President Trump today, one on abuse of power and the other involving obstruction of Congress.  Trump administration plans to sign off on adjustments to a free-trade deal with Mexico and Canada. US Commerce Secretary Ross: We Are Within Inches Of A USMCA Deal.

German ZEW expectations for December come in at 10.7 vs 0.3 estimate, French factory data also beats estimates. The U.K. economy unexpectedly stagnated in October, marking three straight months without growth for the first time since 2009.

TODAY’S HIGHLIGHTS:   

U.S. equity-index futures retreated alongside stocks in Europe on Tuesday as investors turned cautious in the countdown to major central bank meetings and a deadline for fresh American tariffs on Chinese goods.

EQUITIES:   pre market movers at bottom of this page

E-mini S&P is -0.3%, Nasdaq -0.38%, RTY -0.42%, Dow future -0.36%. SPX is holding the 3155 area (Fibonacci extension target) and will have 3120 as initial key to start today (.382 retrace of December). A break of this level would likely see the .618 s/t retrace at 3101*


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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