The key to successful trading is to map out a plan every morning and know what landmines are out there. today (and the rest of the week) we have a slew of them:
ADP’s private-sector payrolls data for November is coming at 8:15 a.m. Eastern, followed by third-quarter productivity and unit labor costs at 8:30 a.m. The Fed’s Beige Book is due for release at 2 p.m.
Several Fed speakers are going to be yapping today, including Atlanta Fed President Dennis Lockhart at 8:10 a.m., we will be jellin with Yellen giving a speech at the Economic Club of Washington at 12:25 p.m. ET today and before the Joint Economic Committee, U.S. Senate at 10:00 a.m. ET tomorrow.
OPEC meets Friday (my favorite this week) and non farm payrolls report. I just ignore jobless claims now. No one gives a rats ass anymore.
As I clued yesterday, $SPY went asymptotic to the close and I fully expect it to continue this moonshot as the “chase the market” players realize its December and they are fucked if client statements aren’t filled with FANG, never mind everything else is below its 200 day moving average.
Yellen is going to raise rates come hell or high water, even with the economy at the abyss and we are all doomed come winter and 2016.
But WTF, who cares about tomorrow, you can only trade what’s on your screen.
Have a great day!
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