Final Month

Outlook 12/02: Stock futures are flat on Monday morning as investors looked toward the final month of trading this year. November marked the best month of 2024 for SP500 gaining 5.7%, also notched new all-time intraday and closing highs in Friday’s shortened trading session. Investors will watch on Monday for economic data on manufacturing and construction spending. That comes ahead of a series of closely watched labor data due later in the week. They’ll also monitor speeches expected from Federal Reserve Governor Christopher Waller and New York Fed President John Williams.

ESZ24 (DEC2024): YVAH 6060 YPOC 6053 YVAL 6035 GAP 6051.50

/ES Plan: Last session market closed bullish (PBT 6092), but reopening looks balanced, moving within previous value, so these're the opening and initial balance options for current session:

A) If market moves above HVE-YPOC 6053 with bullish internals, buy towards YHOD-YVAH 6060 and PBTs 6072-6092 magnets.

B) If market moves below HVE-YPOC 6053 with bearish internals, sell towards YVAL 6035 YLOD 6018 and GAP 6015 magnet.

Note: Market opens in balance. Don't be 'too anxious'. Bad trades occur when you try to force things to happen. It's Monday, usually the quietest days of the week. Many traders want to take their time analyzing the market, and usually, there are few economic releases. 

Market Movers

09:45 AM PMI Manufacturing Index

10:00 AM ISM Manufacturing Index

10:00 AM Construction Spending

03:15 PM Fed’s Waller Speech

04:30 PM Fed’s Williams Speech 

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