07/07/2020 ES Trade Plan Worksheet

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Jul 072020

The Nasdaq closed at record highs and Apple, Microsoft, Amazon, and Google all hit market caps of $1 trillion, again.

Overnight, US stock futures are down as the European Commission cut their 2020 and 2021 GDP forecasts because of rising coronavirus infections and German May production numbers declined.

US confirmed cases are near 3M and the death count surpasses 130K.  The CDC said the death count could reach 160K by the end of July.

Meanwhile the US dollar is up 0.3% which often precedes a bearish day for US stocks.

The economic calendar is light with IBD/TIPP Economic Optimism and JOLTS Job Openings @ 10:00am ET.  The Fed’s Quarles speaks @ 1:00am ET.

Volatility remains steady and elevated.

Size bias is short into the US session open on much lighter Globex volume than recent


 Posted by at 5:47 am

07/06/2020 ES Trade Plan Worksheet

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Jul 062020

China’s Shanghai Composite Index surged 5.7%, the largest move in 5 years, after Chinese state media said that fostering a healthy bull market is now important after the coronavirus.

In the US, there’s been a surge in coronavirus cases in Florida, Texas, and California where governors are weighing the possibility of increasing lockdowns.  Meanwhile Goldman Sachs released a report that they expect the US economy to contract 4.6% in 2020, a jump from 4.2% in their last outlook.  US coronavirus cases are approaching 2.9M and nearly 130K deaths.

The Uber deal to purchase Postmates looks official.  Uber is expected to acquire the food delivery service for $2.65B which will expand their Uber Eats service.  Postmates currently controls about 10% of the food delivery market.

Berkshire Hathaway (BRK.A) is to purchase Dominion Energy (D), a natural gas transmission and storage company for $4B plus about $6B in debt.  It is the largest deal made by Warren Buffett’s firm in over 4 years.

No Earnings of note for today.

The economic calendar is light with Final Services PMI @ 9:45am ET and ISM Non-Manufacturing PMI @ 10:00am ET.

Volatility ticked up last week and remains elevated.

No Size bias as Globex volume was mixed.




 Posted by at 6:35 am

Fourth of July Holiday

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Jul 032020

US stock markets are closed today, July 3, 2020 for the Fourth of July Holiday.  DTG will resume posting on Monday, July 6.  Have a great 3-day weekend!

 Posted by at 5:12 am