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Looking at the calendar, we should be good for trading volume till Friday. Christmas eve is on Monday, so it appears to have fallen nicely from a trading perspective. Still -eyes on volume. Over to the March contract too.
I am hoping that maybe we'll see a more liquid March contract but I'm not holding my breath... We still have the same news events hanging over our heads and Mrs May has decided to leave us with Brexit uncertainty until January.
Anyway - we are at the bottom of the range still with an eye on last weeks low and 2564.75 below.
No weekly profile today - because of the roll. We can see that overnight, Fridays range has been tested and held, all but a little push through.
Not much in the news today.
Plan
- Early trade on if we open near a volume step from overnight
- Shorts below Fridays low but long anywhere above that
- Expecting volatility, so waiting for volume to set the direction and then for a price to lean on
- Expecting all hell to break loose if we break 2564
- Still not at all in love with these market conditions. If I liked this, I'd be trading DAX
Weekly levels
Not interested because of the range
Daily Numbers
Range - 2597.25 -> 2639.75 / 2652.75
Value - 2595.50 -> 2628.25
Globex - 2610.25 -> 2616.75
Settlement - 2602
Today only - 2603->2626
Long Term Levels - 2564.75, 2700.25, 2800.75, 2872, 2896. 2925.75, 2951.25
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Bund (FGBL), Euro (6E) & Eurostoxx seem to be a good combination. In the US session too. In fact, with the new open hours, it's not that bad in the Asian session.
What looks good at the moment is the way they all pick up pace at the same time if a real move is under way. It's not dissimilar to using NQ/YM to help trade ES - but in this case all 3 instruments are quite tradable.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread