ETF Trading Research 12/17/2018

 

Economic Data For Tomorrow

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

Stock Market 
Once /ES broke 2595 we had to lean lower and we fell all day long with the DOW ending down -500 points once again. We may still fall till /ES 2500 break, but early morning on Tuesday we are up 7.50 to 2563.50. I do expect us to continue lower putting extreme pressure on the Fed come Wednesday. I also expect light trading tomorrow.
Foreign Markets
YANG and BZQ led the way today as foreign ETFs get hit with U.S. ETFs.
Interest Rates
Little bit of rush to safety today.
Energy
Wicked day for nat gas as it fell hard. Overdue for a bounce with UGAZ 4 days in the Cold Corner.
Oil chose to take out the 50 support today. Well overdue for a bounce but if the market falls, which it has, oil declines with it.
Precious Metals and Mining
Gold didn’t move up too much early on but miners led the way higher. Spot gold though right at resistance at 1249 with limited upside to 1260 the 200 day moving average. In that range it should top out. Dollar broke 97 so if it breaks above 97 it would be safe to go long DUST and JDST and vice versa, but for limited upside move.

 

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