Shortened week this week due to the US Thanksgiving holiday
NYSE: Closed 24 November
Early market close at 1;00 PM ET on 25 November
CME Group Holiday Schedule:
Weekly Market Stats-week ending 18 November
Important data this week all times Eastern Standard
Tuesday:
| 11:00 | FOMC Member Mester Speaks | ||||||
| 14:15 | FOMC Member George Speaks | ||||||
| 14:45 | FOMC Member Bullard Speaks | ||||||
| 16:30 | API Weekly Crude Oil Stock |
Wednesday:
| 08:00 | USD | Building Permits | 1.526M | ||||
| 08:00 | USD | Building Permits (MoM) | -2.4% | ||||
| 08:30 | USD | Core Durable Goods Orders (MoM) (Oct) | 0.1% | -0.5% | |||
| 08:30 | USD | Durable Goods Orders (MoM) (Oct) | 0.4% | 0.4% | |||
| 08:30 | USD | Initial Jobless Claims | 225K | 222K | |||
| 09:45 | USD | Manufacturing PMI (Nov) | 50.0 | 50.4 | |||
| 09:45 | USD | S&P Global Composite PMI (Nov) | 48.2 | ||||
| 09:45 | USD | Services PMI (Nov) | 47.8 | 47.8 | |||
| 10:00 | USD | Michigan Consumer Expectations (Nov) | 52.7 | ||||
| 10:00 | USD | Michigan Consumer Sentiment (Nov) | 55.0 | 54.7 | |||
| 10:00 | USD | New Home Sales (MoM) (Oct) | -10.9% | ||||
| 10:00 | USD | New Home Sales (Oct) | 570K | 603K | |||
| 10:30 | USD | Crude Oil Inventories | |||||
| 10:30 | USD | Cushing Crude Inventories | |||||
| 14:00 | FOMC minutes |
Trading this week:
I expect rather low volumes this week, so indices could get pushed around pretty easily or go nowhere. (most people tend to take the entire week off) Play the ranges. Strangles and /or straddles are the best options.
Keep an eye on USD particularly when it comes to gold and silver
Crude oil is oversold, but that does not mean it can not get more oversold. OPEC meeting is December 4th, at these levels I suspect we start hearing rumors about them cutting production, just something to keep on your radar. The market should act favorably should this happen.
Good Luck and Have a Great Week!
