A German political cool-down and progress on tax-reform makes for a stable trading week for Thanksgiving.


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A German political cool-down and progress on tax-reform makes for a stable trading week for Thanksgiving.

November 20, 2017
By Vlad Karpel

After German political tensions turned down over the weekends, investors are looking toward tax reform plans and switching to a risk-on attitude. Although major U.S. indices are recovering from previous slides, we’ll see a drop in volume as we approach the Thanksgiving weekend. The Euro (EURUSD) had dropped but since recovered after a breakdown in coalition talks in the German government. This situation had brought uncertainty to Chancellor Angela Merkel’s leadership position.

At the time of publication, the DJIA is up 0.40%, or 92.82 points, at 23,450. The S&P 500 is trading at 2,582- up 0.13% from the open. The Nasdaq-100 is up 0.07% at 6,787.

Using the ^GSPC symbol to analyze the S&P 500, our 10-day prediction window shows  consistent negative signals. Today’s negative vector figure of -0.26% moves to -0.34% within three trading sessions.  Today’s predicted support and resistance is 2,568.97 (± 2.79) and 2,578.85 (± 2.80), respectively. The predicted close today is 2,569.66. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.  

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