Pre-Bell Futures Day Trading Strategy – 5 Dec 2024
1. Market Overview
Global Sentiment: News data reveals strong positive sentiment, driven by robust tech stock performance and anticipation of Powell’s speech.
Economic Calendar Impact: While specific data releases are light this morning, overnight markets reacted positively to surprise jobs data and tech earnings.
2. Technical Analysis
S&P 500 Futures (ES):
Close Price: 6096.5
Pivot Point: 6096.25
Support Levels: 6095.75, 6095.0
Resistance Levels: 6097.0, 6097.5
Indicators:
RSI: 57.69 (Neutral zone)
MACD: -0.216 (Bearish momentum weakening)
ATR: 0.82 (Moderate volatility)
VWAP: 6095.63
3. Market Sentiment Analysis
Positive Sentiment Drivers:
Anticipation of Powell's speech.
Tech earnings boost optimism.
Strong rally in major indices overnight.
Key News:
"Dow Jones Futures Rise 200 Points After Surprise Jobs Report"
"Tech Stocks Lead Gains in US Futures Before Powell: Markets Wrap"
4. Volatility Insights
Contracts with Higher Volatility: NQ, YM
Contracts with Lower Volatility: ZN, ZB, GC
5. Recommendations
Risk Management: Use ATR values for precise stop-loss adjustments.
Strategy Focus: Favor bullish trades on NQ and GC; bearish trades on CL and ZB for retracement.
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.
