Game Plan from Cabrera Capital

Charts, Commentary, News, Stocks, Technical Analysis

Wednesday, November 27, 2019


DATA/HEADLINES:  At 8:30ET the second reading of third-quarter GDP will be accompanied by personal consumption, core PCE, and durable goods orders. Weekly initial jobless claims data is at the same time. At 10:00 a.m. personal income and spending numbers are published, with the PCE deflator update expected to show the core reading held at 1.7%. Pending home sales for October are also released at that time. We also have a $32B 7yr note auction at 11:30am and the latest Fed beige book is due at 2:00 p.m.

The House impeachment inquiry moves on to a new phase next week, with a public hearing scheduled for Dec. 4 where Trump will be invited to present his defense. German Oct imports -0.1%m/m; U.K Nov BRC shop prices -0.5%y/y, China Oct industrial profits -9.9%y/y.


U.S. index futures rose slightly to a record high, mirroring gains in Europe after President Trump said that talks on the first phase of a deal were nearly done, adding he is holding up the agreement to ensure the U.S. gets a better deal.  Equities climbed across Asia except in China, where data showed the economy slowing further. Deere & Co. fell in pre-market trading after income guidance missed estimates.

EQUITIES:   pre market movers at bottom of this page

E-mini S&P is up 0.11%, Nasdaq +0.2%, RTY +0.04%. SPX has Fibonacci extension target of 3155.

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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