Might be a quiet day, but still have some interesting set ups
It shaped up to be a pretty good day for the bulls, all things considered. Last Friday session started on a decidedly downbeat note, though, after market participants digested a generally positive November employment report. The employment report featured stronger-than-expected nonfarm payrolls growth (263,000), higher-than-expected average hourly earnings growth (0.6%), and an in-line unemployment rate of 3.7% that held steady near a 50-year low.
Economic reports in the week ahead: The energy market will be in focus this week in the wake of an OPEC+ meeting that begins over the weekend. Investors will react to the group's update on production plans, as well factor in the impact of European Union's sanctions on the purchases of Russia's seaborne crude exports and a potential G-7 price cap on Russian oil. Global central banks will also be in the spotlight with the Reserve Bank of Australia and the Bank of Canada both anticipated to raise interest rates, although FOMC members in the U.S. will be quiet as a part of a blackout period ahead of the December 14-15 meeting. In one of the last Fed speak updates, New York President John Williams said he thinks the FOMC has a way to go on raising rates. Meanwhile, economists think last Friday's strong jobs report is likely to generate more calls for a 75 -point hike from some Fed officials at the December meeting. Fed watchers will also key on the upcoming producer price index report next week as an inflation gauge.
Earnings week ahead: The first full week of December will see a relatively light earnings schedule. Still, a number of high-profile reports are due out, including financial figures from players in the software, semiconductor, e-commerce and retail sectors. Toll Brothers (
TOL
), Campbell Soup (
CPB
), AutoZone (
AZO
), Costco (
COST
), Lululemon (
LULU
), Broadcom (
AVGO
) and Chewy (
CHWY
) are among the names set to report.
From the tech side,
SPX
is at a pretty award point where there's not enough good news to let the market break its resistance, and optimistic buyers also do not want give up its gain, and FOMO emotions are spreading around the market.
Therefore, I don't wanna trade much today, but I do have some interesting set ups.
Chart 1.1
Chart 1.1 shows daily for
CRM
, CRM gave a insideday pattern on daily chart, extended from its 8&21 Emas, and close to its weekly basis support; its a very attractive place to try some insideday break on day-trade. Will likely to enter somewhere around 143.8ish,give stop out to 142.30, target 148.8ish.
Please feel free to express your ideas and thoughts in the comment section.
Economic reports in the week ahead: The energy market will be in focus this week in the wake of an OPEC+ meeting that begins over the weekend. Investors will react to the group's update on production plans, as well factor in the impact of European Union's sanctions on the purchases of Russia's seaborne crude exports and a potential G-7 price cap on Russian oil. Global central banks will also be in the spotlight with the Reserve Bank of Australia and the Bank of Canada both anticipated to raise interest rates, although FOMC members in the U.S. will be quiet as a part of a blackout period ahead of the December 14-15 meeting. In one of the last Fed speak updates, New York President John Williams said he thinks the FOMC has a way to go on raising rates. Meanwhile, economists think last Friday's strong jobs report is likely to generate more calls for a 75 -point hike from some Fed officials at the December meeting. Fed watchers will also key on the upcoming producer price index report next week as an inflation gauge.
Earnings week ahead: The first full week of December will see a relatively light earnings schedule. Still, a number of high-profile reports are due out, including financial figures from players in the software, semiconductor, e-commerce and retail sectors. Toll Brothers (
TOL
), Campbell Soup (
CPB
), AutoZone (
AZO
), Costco (
COST
), Lululemon (
LULU
), Broadcom (
AVGO
) and Chewy (
CHWY
) are among the names set to report. From the tech side,
SPX
is at a pretty award point where there's not enough good news to let the market break its resistance, and optimistic buyers also do not want give up its gain, and FOMO emotions are spreading around the market. Therefore, I don't wanna trade much today, but I do have some interesting set ups.
Chart 1.1 shows daily for
CRM
, CRM gave a insideday pattern on daily chart, extended from its 8&21 Emas, and close to its weekly basis support; its a very attractive place to try some insideday break on day-trade. Will likely to enter somewhere around 143.8ish,give stop out to 142.30, target 148.8ish. Please feel free to express your ideas and thoughts in the comment section.