Rendimento real das famílias portuguesas com maior queda da OCDE no início do ano

[alex01]

No Call today. A good portion of the current underlying bias is based on the Presidential winner. Prices are making radical swings in both directions based on this speculation. Stand aside today.
ESZ04 S&P500 E-mini Futures
Wednesday, November 3, 2004
Prev Day - SP
Range: 12.80 Value Area
Range: 7.70 TCF Key Numbers for ES
High 1,140.80
1,140.70
1,138.25-1,137.25 Sell Pivot
1,133.00
Open 1,132.20
Close 1,130.60
Low 1,128.00
1,125.50-1,126.50 Buy Pivot
1,115.60 Pit Bull MA



Trade Setup Summary for Tuesday, November 2, 2004:
No trading Tuesday due to U.S. Presidential election

Recap of Tuesday's Action:
Good Morning.

On Tuesday we did not offer a Headline Call or any trade recommendations.

As it turned out prices rallied to our EXACT upside projected call number on Thursday's Headline Call (last week) of 1141.00.

Prices took off from the open, ran up to the 1139-41.00 area and sat most of the day. Later in the session there was a strong pullback all the way back to 1129.00 area.

Overnight on Globex we are now seeing a return to this 1139-41.00 area.

As I type this briefing there is still not a clearly defined President and with late tallies coming in on key states we may not know for even a few days.

Based on this I would like to consider standing aside again today and letting the dust setttle on this election.

Today's Call & Briefing:
For today we want to continue to stand aside until there is a more clear indication of the next U.S. President.

Stock market bias will follow but our projection for a bullish back end loaded last 2004 quarter still stands.

If prices clear 1143.00 and hold above that then we could sail up to the next level projected at 1169-1172.00

Look to stand aside today until the market settles after the election drama subsides.

Value Area: 1,133.00 - 1,140.70
Watch for 1141-43 to be key resistance with trade above that starting to build a base for a run to 1170 area.

Buy Pivot Target: 1,125.50 - 1,126.50
Good support is here unless we see Senator Kerry win the Presidency in which there could be a temporary drop in the markets.

Sell Pivot Target: 1,138.25 - 1,137.25
We are above this in overnight Globex trading but it is still too early to predict a Presidential winner and much of the bias is based on this right now. This is evidenced by the wild 10 point swings in both directions.

10 Day "Pit Bull" Moving Average: 1,115.60
The spread between the current price and Pit Bull is widening and usually a 25-30 point spread starts to mark a period when the gap begins closing.

As mentioned above prices trading above 1143 and HOLDING above this price could create a base for a launch to the next level near 1170.00

Pro Trader's Action
Continue to stand aside today until we see the market move back into normal intraday trading swings.

We should see this later today if the vote tally and announcement of next U.S. President is not delayed. If delayed then we could be on pins and needles for a few days but should get regular intraday swings that are tradeable.

Right now it is risky. Sometimes it appears easy to project a bullish or bearish outlook as many did on Tuesday as both sides of the market got cleaned out.

In my experience markets like these are better left alone until things settle. As intraday traders we look to make our trades based on projected intra day movement and bias. The large emotional moves based on huge events like Presidential elections should not be considered that important to intra day traders.

Let's watch the reactions and see how things go.

LIVE UPDATES TRADERS: I will be commenting on the action but plan on standing aside for today.

All the best, Mohan