ETF Trading Research 11/26/2018

Markets once again stymied in the 2670/2675 area but end of day got just above 2675 however Trump had to open his mouth to talk about slapping 10% tariffs on iPhones and laptops out of China. AAPL stock fell 2% after hours and futures fell 12 to 1263.

The choice to go flat or stay in the positions for the bigger move was made. I notice 2 of our longs went back to our buy price on the news and one a hair lower. Most likely this will blow away by Morning.

Oil should take off higher after today’s move. UWT wasn’t priced correctly but that should be made up for tomorrow. If we do get that nice boost up, then my guess is oil has bottomed for now and the next move up should be to 56 and if we break that most likely 60.

Nat gas needs to break 4.00 for a potential bigger meltdown.

Metals and miners started the say well with the dollar fall but the dollar ended up going back over 97 after Draghi’s comments that hit the Euro.

 

Economic Data For Tomorrow

http://www.investing.com/economic-calendar/

Stock Market 
Still need oil to cooperate to give it the extra boost. We got it today but UWT did not benefit. Kind of sucks to be honest. I mentioned it early on and some of you aggressive traders may have got in early. Trumps comments about 10% tariffs on new stuff won’t help. The fall after hours got /ES right to the trendline. Needs to hold 2660 if it can.
Foreign Markets
We didn’t get the move up with U.S. markets today as Russia kind of roiled foreign markets with their seizure of Ukrainian ships. Any sign of life here I would jump on BRZU and YINN but am leaving off Russia with RUSL because of the situation with Ukraine.
Interest Rates
No real move here at present but TMV up a hair with 10 year going to 3.06%.
Energy
Long DGAZ again after the pop up today and looking for that move under 4 still for nat gas.
Oil got the boost we wanted today but UWT lagging a bit. December 6th OPEC meeting coming and tomorrow there is a meeting as well. Could see some volatility here still but if market can move up then we should see oil move up with it. What signs are there that the market is going to move up? More red weeklies below. The Russia/Ukraine situation is bullish oil as well.
Precious Metals and Mining
Yesterday I said “don’t fight the dollar” and today we did. I expected more out of gold today but Draghi said he was worried about the economy as data was weaker than expected and the Euro fell while the dollar rose.

 

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