Short Term Trading Week Starting: 26 November 2018, page-16

Happy Tuesday everyone, I hope your markets do well today -if you're long...Please note the news below, though.

US indices on Monday's close: SPX: (+1.55%), IXIC: (+2.06%), Dow: (+1.38%) and RUT: (+1.16%).

Sectors: Consumer Discretionary (+2.51%) led a rather uniform sector profile to the upside. NYSE A/D lines: +860 NYSE breadth: +2.81:1 NASD breadth: +4.14:1 NYSE TICK: shallow but positive. NYSE MOC showed moderate selling into the close and finished on an even buy/sell ratio at -35M to sell. VIX closed about 18.90 and is down around -12.17% in today's session. Some of those values may change slightly as things settle out.

E-mini ESZ18 futures and the SPY closed over the YTD flat line, while SPX cash finished just on it.
Light Crude (CLF19 - 51.70 or +2.54%) has been waffling at +2 to +3% during the live session, benefiting from a reflexive bounce as well as more reports that the Saudis will not kowtow to the US administration. Note, that while prices below CL 50.00 might influence consumer spending, they are not particularly helpful to US energy producers - at the moment. If constant news of the Russia/Ukraine skirmish was on trader's minds, it did not seem to color their closing bias. Just after the close, WSJ reported the President said - among other things - he will move ahead with 25% tariffs on 200B imports on China due to come into effect in January. Futures pulled back slightly on that news. This is obviously a bargaining posture ahead of this weekend’s meeting but it's having an affect on futures.

As you can see by the SPY and SPX 30 minute, the YTD flat line was kind of pivotal in today’s trade An SPX close (2673.45) above 2665 gave the bulls something cheer about. Unfortunately, the after-market news about the tariffs on China came just at the close of derivatives trading...and interrupted my report. As of the cash close, bulls were thinking about SPX 2690/2700. Keep an eye on the futures to see if that post market stuff has an effect. He is babbling on about other things too. SPY after hours and shares of AAPL are sinking a bit in the aftermarket on comments by Trump about them being able to withstand tariffs. Goodness, what next.