At-a-Glance
Key Takeaways with Craig
Since the turn of the New Year, equity markets have seen a lot of volatility. The ES and NQ markets have both seen consolidation from the highs back in December, and now after testing the November lows are moving back higher toward all time highs. Today traders saw initial jobless claims come out higher than expected, the second report in a row with a higher than expected print. There is still a lot of uncertainty in the markets with a shift in global economics and politics on the front of many traders minds, but looking at the ES contract there is still a lot of recovery needed to retest the recent all time high levels.
Looking more at the economic data, this week has been lighter in terms of data being released, and traders are starting to look ahead to the Fed policy decision next week. The CME Fed Watch Tool is indicating that the Fed will leave rates unchanged at the January 29th meeting. Both the ES and NQ offer micro contracts that provide traders a unique level of scalability and a smaller barrier to entry, click here to learn more!
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