Wake Up Call – The Day Ahead Dec 7 2021

A live recap of what happened while we slept overnight and what lies ahead. We go through charts on the S&P 500, WTO Oil and Natural gas. Big moves overnight with ES up over 50 handles and oil back over $71. Moves from the RBA and PBoC. A look at the data, technical levels and geopolitical and macro moves and potential surprises.

  • Enjoy live commentary from Our Trading Room at youtube as the day wraps up – feel free to like and share

Yesterday the Dow had the largest daily point gain since Nov. 9, 2020, and biggest percentage gain since March 1, 2021. We saw more of that overnight S&P Futures vs Fair Value are up +58 handles with FOMO flow through. Has EOW Omicron fatigue already set in.

The markets:

  • WTI futures continue to rise up over $1 over $71
  • Natural gas +.06 as market trys to rebalance down here and milder weather modelling remains
  • AAPL almost back at 170, up 1.9% on Morgan Stanley raising price target
  • AZO higher after better than expected earnings
  • INTC up on news of planned IPO for Mobileye unit
  • Spot gold up $4.30 or 0.25% at $1782.60
  • Spot silver up six cents or 0.25% at $22.43
  • Bitcoin back over $50,000 at $50967. The high $51,606 overnight
  • Shorter-dated US Treasury securities see continued selling pressure
  • In forex AUD is the strongest and the EUR weakest as NY wakes up. The USD is mixed to lower as the commodity currencies (risk on) attract the majority of the flows . The RBA kept rates and QE unchanged and fed risk on sentiment.

Visit Traders Market Weekly: When The Rubber Meets The Road – TRADERS COMMUNITY for the daily calendar

Earnings Calendar For Today

Symbol Stock Date Time Actual CC Prev Exp Today Opt vol Mkt Cap

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Have a great trading day!