The ES is up overnight after yesterday’s big selloff on prospects increase for a trade meeting between Trump and China’s President Xi Jinging at the G-20 Summit in Argentina starting Nov 30.  A China newspaper reported that Liu He, China’s chief trade negotiator will fly to D.C. to setup face to face meetings between the US and China in Argentina.  Oil prices are down for the 12^th session after Trump tweeted that oil prices “should be much lower based on supply” after Saudi Arabia announced a 500K barrel per day cut.  Home Depot stock is up pre-market after beating expectations and raising forecasts.  Earnings today include TSN, TLRY, AAP, and BZH.  A very light economic calendar with the Federal Budget Balance @ 2:00pm EST.  The Fed’s Brainard speaks @ 10:00am EST.  Volatility remains high and there’s plenty of room for both the bulls and the bears to work.  No Size bias this morning as Globex volume was mixed.  Size bought into yesterday’s selloff.

US and global stock markets are a little rattled by Trump comments concerning a scheduled June 12 Singapore meeting with North Korea and US trade war progress with China.  The US and South Korea held a joint military exercise last week and now Trump is saying there’s a good chance the North Korean meeting will not take place on June 12, but still a good chance it will at some point in the future.  About the trade negotiations with China, Trump said it’s “a start” but he was “not pleased” with the progress.  US retailers Target and Lowes missed earnings estimates while jeweler Tiffany & Co. crushed their expectations.  The economic calendar focus is Oil @ 10:30am and Fed minutes @ 2:00pm EST.  Before the main events, we have PMI Composite Flash @ 9:45am EST and New Home Sales @ 10:00am EST.  The ES has pulled back enough where upside volatility should not be hindered as we’ve experienced over the last week.  Volatility continues to contract, but there’s more room to expand now.  Size bias is short on increased Globex volume into the US session open.

The ES is up slightly overnight as trading volume continues to dry up into the long Christmas weekend and as many traders take the rest of the year off.  Congress narrowly avoided a government shut down by passing yet another temporary spending bill.  Bitcoin’s wild ride continues as the cyprotocurrency has dropped nearly 40% this week, from a high near $20,000 to a low of $12,560.  The new CBOE and CME bitcoin instruments have finally provided traders a way to short…  The economic calendar focus is Durable Goods @ 8:30am EST and New Home Sales and UoM Consumer Sentiment @ 10:00 am EST.  It’s possible price whippiness could continue today; it’s expected that price movement will start dying down as the day wears on.  Size bias is short into the Durable Goods numbers; however volume was so light overnight that the Size bias should not be given much weight…