Dec 03, 2018 — MONDAY PM: In the December edition of our monthly outlook, we discuss short and long term outlook for various futures markets, including the ES, NQ, Crude Oil, and Bitcoin. We also take a look at various stocks that could have strong finishes to the year, including the Homebuilders industry group, $CLX, $AMD, and others. Here are the levels and candidates we focused on during the Monthly Outlook for December 2018.
The ES, NQ, YM, and CL are all green this morning, but will the gains last, or will we see a pop and drop? These markets are right at key resistance levels, which many participants will see as a profit-taking opportunity, which may lead to near-term weakness. However, if these markets can push through these resistance levels, we could see some year-end strength. Here are the levels we’ll focus on during the morning session of the PivotBoss Trading Room.
The ES and NQ are both holding after the recent move higher. Keep an eye on the previous session’s lows for equity futures, as a failure to hold these levels could open up another drop ahead. Bulls need to keep these levels bid. Crude Oil has developed a narrow 5-day range, which suggests a major breakout may be ahead, likely to the downside. Bitcoin remains extremely weak, and appears poised for lower lows…unless it can reestablish acceptance back above 4400 soon. Here are the levels we’ll focus on during the morning session of the PivotBoss Trading Room.
The ES, NQ, and RTY each rallied tremendously Wednesday as Fed Chair Powell gave the market a boost. But will the Fed bump last? After yesterday’s expansion, look for today to be more about price digestion and compression, with a shot to push higher in the days and weeks ahead if key levels can hold below. Crude Oil remains below the 52.50 key level, which could open up major upside if crossed at some point down the road, and 30-year Bonds are holding at key resistance. Here are the levels we’ll focus on during the morning session of the PivotBoss Trading Room.
The ES and NQ are showing strength after the failed new high failed in the previous session…essentially a bear trap was created, which opens the door to near-term strength ahead. Crude Oil is coiling within a very narrow compression that could trigger another major move soon…but which way? Also, Gold continues to develop a large compression pattern, which could release major energy down the road. Here are the levels we’ll focus on during the morning session of the PivotBoss Trading Room.
