Fed Minutes Before T-Day | Morning Express | 11/23/2022

Posted: Nov. 23, 2022, 7:31 a.m.

  • Building Permits at 7:00 am CT, Durable Goods, and Initial Jobless Claims at 7:30 am CT, Flash PMIs at 8:45 am CT, Final Michigan Consumer data for November at 9:00 am CT.
  • Fed Minutes from the November 2nd meeting released at 1:00 pm CT.
  • Flash PMIs from the Eurozone and U.K. contracted less than expected.

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E-mini S&P (December) / NQ (December)

S&P, yesterday’s close: Settled at 4010.25, up 52.25

NQ, yesterday’s close: Settled at 11,754.50, up 166.50

  • Bull-flag like breakout is potentially unfolding, noted here yesterday.
  • Continued price action above 4000 and 11,710-11,768 stokes higher. More Bullish Bias while above here.
  • Still, strong resistance overhead with volatility due to data and Fed Minutes.

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NQ (December)

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Crude Oil (January)

Yesterday’s close: Settled at 80.95, up 0.91

  • Angry protests at Foxconn iPhone plant in China embody larger impact of lockdowns as cases surge, dent near-term demand picture.
  • EIA due at 9:30 am CT, expectations for -1.055 mb Crude, +0.383 mb Gasoline, and -0.550 mb Distillates. Distortions persist with SPR release.
  • Price action surrendered 80.04-80.49 mark, neutralizing near-term momentum.

 

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Gold (December) / Silver (December)

Gold, yesterday’s close:  Settled at 1739.9, up 0.3

Silver, yesterday’s closeSettled at 21.049, up 0.177

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Silver (December)

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