Pre-Bell Futures Day Trading Strategy – 10 Dec 2024
Market Overview
Global markets open under the influence of high-impact economic events and geopolitical uncertainties. Overnight trading showed mixed sentiment, with equity futures consolidating after pre-market CPI data. The focus today will be on labor productivity data and Fed commentary, which could introduce volatility.
Economic Calendar Highlights:
11:00 AM EST: NFIB Business Optimism Index – Low Impact
1:30 PM EST: Nonfarm Productivity and Unit Labor Costs – Medium Impact
1:55 PM EST: Redbook Index (YoY) – Low Impact
Technical Analysis
1. S&P 500 Futures (ES=F)
Current Price: 6070.00
Resistance Levels: 6075, 6085
Support Levels: 6060, 6050
Indicators:
RSI: 68 (Near Overbought)
VWAP: 6062.75
ATR: 0.46
Analysis: Bullish momentum persists above VWAP. RSI indicates potential for consolidation before further upward moves.
Trend Identification
Bullish: ES=F, NQ=F, YM=F, RTY=F, CL=F
Neutral: GC=F, ZN=F, ZB=F
Bullish and Bearish Scenarios
S&P 500 Futures (ES=F)
Bullish: Long above 6075; Target 6085; Stop 6065.
Bearish: Short below 6060; Target 6050; Stop 6070.
Volatility Insights
Highest Volatility: Nasdaq (NQ=F), Crude Oil (CL=F).
Moderate Volatility: S&P 500 (ES=F), Dow (YM=F), Russell (RTY=F).
Lower Volatility: Gold (GC=F), Treasuries (ZN=F, ZB=F).
This strategy offers comprehensive insights for informed trading decisions. Let me know if you need further clarification or adjustments.
Day Trading Strategy Disclaimer
The content provided in this blog, including day trading strategies, technical analysis, and market insights, is for informational and educational purposes only. The information should not be construed as financial advice, investment recommendations, or an endorsement of any trading strategy. Trading futures, options, and other financial instruments carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results.
You should thoroughly evaluate your financial situation and risk tolerance before engaging in any trading activities. It is advised that you consult with a licensed financial advisor or professional who can provide personalized investment advice tailored to your individual needs.
The author and publisher of this blog do not guarantee the accuracy, completeness, or timeliness of the information and will not be liable for any losses or damages, including, but not limited to, any loss of profit or investment, which may arise directly or indirectly from the use of or reliance on such information. By using this blog, you acknowledge and accept these terms and any inherent risks associated with trading.
Risk Warning: Leveraged trading can result in losses that exceed your initial investment. Please trade responsibly.
