12/4 Trading Plan - Last Week Recap and Day Ahead
📊 Market Sentiment: Neutral to Bearish
As December unfolds, the market sentiment leans towards a neutral to slightly bearish outlook. This cautious stance reflects the global financial landscape's current dynamics and the anticipation of key economic events.
🔄 Recap
November stood out as the most bullish month of the year, showcasing a significant rally of +470 points. This aligns with its historical trend as one of the strongest months over the past five decades. However, December starts with a mixed sentiment, indicating a potential shift in market dynamics.
📈 The Markets Overnight
🌏 Asia: Down
🌍 Europe: Down a bit
🌎 US Index Futures: Large caps down, small caps up
🛢 Crude Oil: Down
💵 Dollar: Up a bit
🧐 Yields: Up
🔮 Crypto: Up strongly
🌏 Major Global Catalysts
The Supreme Court's engagement with the tax code marks a notable event. This, combined with the seasonal strength of November and early December trends, sets a complex backdrop for current market movements.
🔍 Key Structures
The key structures to watch out for are 4755, 4658-60, 4630-35, 4618, 4573-75, 4550-52, 4542, 4520, 4494-96, 4445-47, and 4424.
📉 Support Levels
Support levels to watch out for are 4597, 4587-90, 4580, 4575, 4568, 4561, 4556, 4551, 4542, 4532, 4525, 4520, 4514, 4510, 4502, 4494-96, 4484, 4473, 4457, 4445-48, 4436, 4430, 4424, 4418, 4409, 4399, 4388, 4375-80..
📈 Resistance Levels
Resistance levels to watch out for are 4609, 4618, 4625, 4630-35, 4642, 4647, 4658-60, 4666, 4676, 4680, 4698, 4703-06, 4715, 4721, 4733, 4742, and 4753.
📝 Trading Plan
Bullish Scenario: Continuation of the uptrend if the 4575-80 support holds. Key targets include 4590, 4607-09, and 4620.
Bearish Scenario: Watch for a breakdown below 4575, which could indicate a shift to a bearish trend. Focus on short positions below major resistance levels.
💡 Wrap Up
The market is currently in a bullish trend, with the price breaking out of the consolidation range. The key to profiting from this trend is to not chase moves and instead trade alongside the institutions after the traps. This requires careful management of trades and a focus on failed breakdowns and breakouts. Today's key is to observe the market and wait for price discovery.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
As December unfolds, the market sentiment leans towards a neutral to slightly bearish outlook. This cautious stance reflects the global financial landscape's current dynamics and the anticipation of key economic events.
🔄 Recap
November stood out as the most bullish month of the year, showcasing a significant rally of +470 points. This aligns with its historical trend as one of the strongest months over the past five decades. However, December starts with a mixed sentiment, indicating a potential shift in market dynamics.
📈 The Markets Overnight
🌏 Asia: Down
🌍 Europe: Down a bit
🌎 US Index Futures: Large caps down, small caps up
🛢 Crude Oil: Down
💵 Dollar: Up a bit
🧐 Yields: Up
🔮 Crypto: Up strongly
🌏 Major Global Catalysts
The Supreme Court's engagement with the tax code marks a notable event. This, combined with the seasonal strength of November and early December trends, sets a complex backdrop for current market movements.
🔍 Key Structures
The key structures to watch out for are 4755, 4658-60, 4630-35, 4618, 4573-75, 4550-52, 4542, 4520, 4494-96, 4445-47, and 4424.
📉 Support Levels
Support levels to watch out for are 4597, 4587-90, 4580, 4575, 4568, 4561, 4556, 4551, 4542, 4532, 4525, 4520, 4514, 4510, 4502, 4494-96, 4484, 4473, 4457, 4445-48, 4436, 4430, 4424, 4418, 4409, 4399, 4388, 4375-80..
📈 Resistance Levels
Resistance levels to watch out for are 4609, 4618, 4625, 4630-35, 4642, 4647, 4658-60, 4666, 4676, 4680, 4698, 4703-06, 4715, 4721, 4733, 4742, and 4753.
📝 Trading Plan
Bullish Scenario: Continuation of the uptrend if the 4575-80 support holds. Key targets include 4590, 4607-09, and 4620.
Bearish Scenario: Watch for a breakdown below 4575, which could indicate a shift to a bearish trend. Focus on short positions below major resistance levels.
💡 Wrap Up
The market is currently in a bullish trend, with the price breaking out of the consolidation range. The key to profiting from this trend is to not chase moves and instead trade alongside the institutions after the traps. This requires careful management of trades and a focus on failed breakdowns and breakouts. Today's key is to observe the market and wait for price discovery.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
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