{"id":112638,"date":"2021-11-24T10:45:00","date_gmt":"2021-11-24T15:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=112638"},"modified":"2023-03-14T11:38:55","modified_gmt":"2023-03-14T15:38:55","slug":"data-to-impact-thanksgiving-markets","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/data-to-impact-thanksgiving-markets\/","title":{"rendered":"Data to Impact Thanksgiving Markets"},"content":{"rendered":"\n

Market Activity<\/h2>\n\n\n\n

– Q3 GDP, second look, Durable Goods, Jobless Claims due at 7:30 am CT<\/p>\n\n\n\n

– Fed\u2019s preferred inflation indicator released early ahead of holiday, appears to be 9:00 am CT instead of usual time at 7:30 am CT.<\/p>\n\n\n\n

– Final Michigan Consumer data and New Home Sales due at 9:00 am CT<\/p>\n\n\n\n

– Release of FOMC Minutes from meeting earlier this month at 1:00 pm CT.<\/p>\n\n\n\n

– ECB released Minutes tomorrow morning at 6:30 am CT.<\/p>\n\n\n\n

E-mini S&P (December) \/ NQ (December)<\/strong><\/h2>\n\n\n\n

S&P, yesterday\u2019s close: Settled at 4688.50, up 8.75<\/p>\n\n\n\n

NQ, yesterday\u2019s close: Settled at 16,312, down 70.00<\/p>\n\n\n\n

– Major three-star resistance at 4690-4694.50 has held perfectly; close above here is needed to neutralize this wave of weakness.<\/p>\n\n\n\n

– We will hold Neutral\/Bullish until close back above this major three-star resistance<\/p>\n\n\n\n

– Major three-star support at 4642-4643, aligning with the November 12th opening bell surge has staved off selling. New floor? Break below would be negative and begin a battle at rare major four-star support at 4620-4627 through the end of week.<\/p>\n\n\n\n

– Inverse head and shoulders off first key support at … Click here to get our (FULL) daily reports emailed to you!<\/strong><\/a><\/p>\n\n\n\n

Crude Oil (January)<\/strong><\/h2>\n\n\n\n

Yesterday\u2019s close: Settled at 78.50, up 1.75<\/p>\n\n\n\n

– Crude had its best day in two weeks after the White House announced a plan to release 50 mb from the SPR. Who would have thought? Policy this poor will almost certainly bring $100 in 1H, barring a serious fourth wave of Covid. They are hindering\/discouraging U.S. production, have given unlimited power to OPEC+ (Saudi Arabia and Russia) and China to control the price of Crude Oil, and now used dry powder to no effect.<\/p>\n\n\n\n

– EIA due at 9:30 am CT, expectations for -0.481 mb Crude, -0.461 mb Gasoline, -1.002 mb Distillates.<\/p>\n\n\n\n

– Continued action at and above our Pivot, aligns with our momentum indicator, is very bullish. Comes in at … Click here to get our (FULL) daily reports emailed to you!<\/strong><\/a><\/p>\n\n\n\n

Gold (December) \/ Silver (December)<\/strong><\/h2>\n\n\n\n

Gold, yesterday\u2019s close: Settled at 1783.8, down 22.5<\/p>\n\n\n\n

Silver, yesterday\u2019s close: Settled at 23.435, down 0.862<\/p>\n\n\n\n

– For new long-term positions, begin using February Gold and March Silver. We will send updated levels on Monday. Currently $2.5 premium in Gold and $0.05 premium in Silver.<\/p>\n\n\n\n

– U.S. Dollar extending gains ahead of economic data slate at 7:30 am CT.<\/p>\n\n\n\n

– After bloodbath, major three-star supports are holding so far at 1781.6-1785.3 and 23.45-23.49; could lead to dead cat bounce if more favorable fundamental shift today with data miss or FOMC Minutes and Dollar lower.<\/p>\n\n\n\n

– From yesterday: Tremendous overhead damage, unless there is a major fundamental shift, Gold and Silver are likely toast until bullish seasonal second half of December; fade the rip market.<\/p>\n\n\n\n

– Continued action below momentum indicators, denoted as our Pivots is negative…. Click here to get our (FULL) daily reports emailed to you!<\/strong><\/a><\/p>\n\n\n\n

—<\/p>\n\n\n\n

Originally Posted on November 24, 2021 – Data to Impact Thanksgiving Markets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Major three-star resistance at 4690-4694.50 has held perfectly; close above here is needed to neutralize this wave of weakness. <\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,17,18,6,8,9,22,26,3],"tags":[1056,3446,255,678],"contributors-categories":[13588],"class_list":{"0":"post-112638","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-commodities","7":"category-futures","8":"category-macro","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-stocks","13":"category-text-articles","14":"category-traders-insight","15":"tag-crude-oil","16":"tag-e-mini-sp","17":"tag-gold","18":"tag-silver","19":"contributors-categories-blue-line-futures"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nData to Impact Thanksgiving Markets | Traders' Insight<\/title>\n<meta name=\"description\" content=\"Major three-star resistance at 4690-4694.50 has held perfectly; 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