2/9 Friday Trading Plan
📊 Market Sentiment: Neutral
📝 Today's Recap:
🌍 Global Financial and Economic News:
📉 Support Levels to Watch:
📈 Resistance Levels to Watch:
📅 Trading Plan for Friday:
🛑 Disclaimer: This analysis is for educational purposes only and is not financial advice. Always consult with a professional financial advisor before making trading decisions.
- Global Market Update: Steady European and U.S. stock-index futures amidst anticipation for U.S. inflation data signal cautious market sentiment.
- Canada-EU Trade Talks: Potential impact on trade dynamics and market sentiment could emerge from discussions at the CETA Joint Committee in Brussels.
📝 Today's Recap:
- Canadian Economic Data: Upcoming jobs numbers and senior loan officer survey results are likely to influence market perspectives on Canada's economic health.
- Earnings Reports: Earnings from Enbridge Inc., Telus Corp., Magna International Inc., and PepsiCo Inc. offer insights into sector-specific performances.
🌍 Global Financial and Economic News:
- Sports Betting Legislation: The slow legalization process in states like California and Missouri impacts the betting market and related sectors.
- Tesla's Elon Musk Compensation: Court ruling on Musk's compensation package raises discussions on executive remuneration and company performance correlation.
📉 Support Levels to Watch:
- 5009, 5000-4999, 4990: Key supports, with a focus on maintaining above 4990 for bullish market continuation.
📈 Resistance Levels to Watch:
- 5018, 5035, 5050: Critical resistances, indicating potential targets for upward movement if bullish momentum persists.
📅 Trading Plan for Friday:
- Approach: Capital preservation with minimal trading, acknowledging the current chop range and potential for volatile movements.
- Bull Case: Maintaining above 5000 signals continued bullish sentiment, targeting upward movements towards 5028 and beyond.
- Bear Case: Breach below 5000 may indicate a shift towards bearish sentiment, with potential for a pullback to lower support levels.
- Tactics: Emphasize disciplined trading within identified support and resistance levels, with cautious engagement in new positions given the expected market chop.
🛑 Disclaimer: This analysis is for educational purposes only and is not financial advice. Always consult with a professional financial advisor before making trading decisions.
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