What To Watch For Today!

Discussion in 'Trading' started by BlueStreek, Dec 18, 2006.

  1. We will open higher based upon some high profile mergers in the Oil & Retail Pharmacy sectors.

    1) Watch to see if we hold any of the gains towards the end of the day.

    2) Compare this Merger Monday to Merger Monday`s in November which typically would push the dow up 125.00, to judge relative strength of the market at these elevated levels.

    3)Market Focus ... Monday - Dec 18, 2006

    Another gain in the NAHB-WFC housing market index would boost rising expectations that the worst of the housing slowdown is over.

    4) key economic data released Tuesday.

    ICSC-UBS Store Sales
    7:45 ET
    Housing Starts
    8:30 ET
    Producer Price Index
    8:30 ET

    5) How does the dollar hold up this week? Does it give back some of its recent gains this week?
  2. Tums


    this is what I would watch out for today:

    march07 ES pivot point of 1440
    -- if the market trade below this point, the bulls are at bay. A correction is possible.
    -- If the market breaks this point, the bulls are still in control. The market will contest R1 at 1442.50.
  3. I will also watch the QQQQ`s to see if they break through the Nov. 24 high of 44.86, which I doubt will happen.
  4. Thursday GDP report will have the most impact on this week trading.

  5. Tums


    looks like you have already MADE the decision on the market, the same way you did with your "sky is falling" prediction.
  6. dhpar


    doubt it - these numbers are just final corrections to what everybody already knows (this is their 3rd release)
  7. I look for the QQQQ`s to be under 43 in 4 weeks, if they were going to bust through the previous resistance it would have happened last Friday.

    Good point about the GDP report, that could really move the market if its a negative number.
  8. If you mean lower, don't bet on it....we're still in "Goldie Locks" mode here.....bad news is good news, good news is great news.
    A low GDP would indicate a likely Fed rate cut.
  9. the markets look pretty tired right here!

    60 billion in MA activity, and this is all you got?

    sell-off coming:)
  10. goog just broke down:)
    #10     Dec 18, 2006