Please enable javascript in your browser to view this site!

Markets look well prepared for Dec rate hike

Ahead of this am's Housing Starts, CPI, Jobless Claims, fractional gains in US Futures this am while most of the world remains mixed.   US Dollar was mildly lower while most of US TY YIELDS have turned higher in the last couple hours as Yellen's comments warning of consequences of delaying rate hikes make a FF hike all but certain in Dec, unless Equities were to turn down sharply.  For now, FF futures have risen to 96% of a Dec rate hike, and UK and Swiss Bond yields higher by 1.5%+-  Commodities meanwhile have stabilized, despite the rise in USD, TNX, and fractional gains this am in both WTI Crude and Gold-   Overall, near-term trend remains choppy for US Equities over last week but still positive and a push back to the highs looks likely into end of week, as breadth continues to improve, and signs of a Tech rebound are slowly materializing after a poor October- Key areas for traders to focus on remain 2182-5 for S&P Dec futures then 2193-6, the latter being an area to consider lightening up into end of week/early next for trading.. On the downside- PIVOT at 2175 and first real support 2164-6 with 2146 being a more important area on a close, directionally speaking-   Early gainers this am out of ANW, HAIN, GURE, NTAP, PLUG, BBY, JASO higher while on the downside- FSLR, SPP, TTMI, NVTA, CSCO, WMT-   Let me know if I can answer any questions