Short Term Trading Week Starting: 10 Dec, page-83

US500 - Daily Chart

Bulls seem to be struggling here with 3 small red candles, bears seem to be just waiting for a reason to send it lower.

All the the best' Trump/Trade War' agreement tweets seem to be having zero impact on the market now...
Maybe the economic data doesn't care or support what Trump tweets..?




Big economic data out in the US tonight, also Manufacturing PMI's for EU & Germany as well.

The data can be taken both ways.

- Strong/stable numbers could give the Fed reason to think they've hit equilibrium and may not be as 'dovish' as traders would like.
- Declining numbers is obviously bearish for the economy and would give good reason for the Fed to continue it's strong dovish tone, this is if you 'think'/hope a pause in rate hikes would automatically stimulate growth and take the stock market to new highs...



ECB's Draghi lowers growth and inflation forecasts again...

The economic data is/has been supportive of this for quite some time, having peaked way back in December last year.




Short - European markets on any weakness in data.