Whilst as traders and people, we all tend to make New Year resolutions. The market however seems set to continue in the same vein as in 2013, with the primary focus remaining the constant debate of tapering, and as I have said before, what I call ‘tweaking’.
Well the Fed minutes have come and gone and the worry and hesitance ahead of the release was unwarranted.
For gold bugs, 2013 was certainly a year to forget with the precious metal continuing its remorseless journey lower, a journey punctuated with minor rallies which promised much, but delivered little. To say it was a gloomy end to the year would an understatement.
As we begin the U.S. Pre-Market equity session the S&P 500 futures are clawing their way higher indicating a stronger open this morning.
With the first two trading days in the bag markets look to be setting up for a lower open as traders focus on Friday’s delayed non-Farm Payroll results for October.
Early morning stocks that are trending in the U.S. pre-market this morning are:
As we begin another the first full trading week of November traders are likely to maintain their focus on U.S. economic data reports.
U.S. futures are riding yesterday’s momentum of positive U.S. economic data refueling speculation the Federal Reserve may opt to taper its $85 billion stimulus program sooner rather than later.
For intraday emini index traders, last nights FED meeting delivered a classic lesson in volume price analysis (VPA).
With the two day Federal Reserve meeting in the rearview mirror this morning markets are remain flat in the pre-market albeit the DOW and S&P 500 are tilted to the down side.
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