{"id":20734,"date":"2024-12-17T13:32:26","date_gmt":"2024-12-17T21:32:26","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20734"},"modified":"2024-12-17T13:33:29","modified_gmt":"2024-12-17T21:33:29","slug":"movers-and-shakers-markets-await-fed-decision-amid-retail-sales-strength","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/movers-and-shakers-markets-await-fed-decision-amid-retail-sales-strength\/","title":{"rendered":"Movers and Shakers: Markets Await Fed Decision Amid Retail Sales Strength"},"content":{"rendered":"\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend!<\/p>\n

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Movers and shakers!<\/p>\n

By John Thorpe, Senior Broker<\/p>\n

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The Equity markets got a little less frothy today ahead of the Final rate decision; prices down marginally. Some SMA crossovers are showing a downside break is in store for the DOW Index. Not so for the S & P or Nasdaq Indices. Although the S&P does not appear to be poised for a breakdown like the Dow, (range bound for the past 3 weeks) NQ\u2019s story is a little different and the Magnificent 7 have continue to fuel the endless rally with only a minor 6\/10th\u2019s of a percentage correction. My personal view is this is simply a retail selling opportunity in advance of the FOMC results tomorrow,\u00a0I call it a little \u201crisk off\u201d.<\/p>\n

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Energies, Grains, Metals, softs are all closing on the negative for the day with very few exceptions within the complexes.<\/p>\n

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US Advance Retail Sales Headline Recap<\/p>\n

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**US November Advance Retail Sales: +0.7%; expected +0.6%<\/p>\n

**US November Advance Retail Sales ex Autos: +0.2%; expected +0.4%<\/p>\n

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**US revised October Retail Sales: +0.5% from +0.4%<\/p>\n

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Redbook Weekly US Retail Sales Headline Recap<\/p>\n

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**Redbook Weekly US Retail Sales were +4.5% in the first two weeks of December 2024 vs December 2023<\/p>\n

**Redbook Weekly US Retail Sales were +4.8% in the week ending December 14th vs yr ago week<\/p>\n

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Redbook Weekly US Retail Sales Headline Recap<\/p>\n

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**Redbook Weekly US Retail Sales were +6.5% in the first week of September 2024 vs September 2023<\/p>\n

**Redbook Weekly US Retail Sales were +6.5% in the week ending September 7 vs yr ago week<\/p>\n

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Updated: December 17, 2024 8:15 am<\/p>\n

Federal Reserve US Industrial Production & Capacity Utilization Headline Recap<\/p>\n

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**Federal Reserve November US Industrial Production: -0.1%; expected +0.2%<\/p>\n

**Federal Reserve November US Capacity Utilization: 76.8%; expected 77.2%<\/p>\n

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**Federal Reserve October US Industrial Production revised: -0.4%; prior -0.3%<\/p>\n

**Federal Reserve October US Capacity Utilization revised: 77.0%; prior 77.1%<\/p>\n

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Updated: December 17, 2024 9:38 am<\/p>\n

**US House Speaker Johnson Tuesday morning said the stopgap funding bill will have $10 billion for US farmers<\/p>\n

Updated: September 10, 2024 12:49 pm<\/p>\n

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Watch Tomorrow\u2019s Movers and Shakers:<\/p>\n

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Fed Funds FOMC Rate decision @ 1P.M. Central with 1:30 PM Presser with J. Powell to follow.<\/p>\n

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Consensus Outlook:<\/p>\n

The US Federal Reserve will announce their FOMC policy statement Wednesday afternoon around 1:00 pm CT. Many economists expect the FOMC to lower the key Fed Funds rate by 25 basis points, to a range between 4.25% to 4.50%. However, after Tuesday’s strong November US retail sales data showed underlying economic momentum, pundits are wondering if the Fed may signal a cautious, slowing pace of interest rate cuts in 2025.<\/p>\n

Soybeans Daily Chart Below:<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Daily Levels for December 18, 2024<\/strong><\/h3>\n

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Economic Reports<\/strong><\/h3>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/em><\/div>\n
All times are Eastern Time ( New York)<\/em><\/div>\n
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Good Trading!<\/div>\n
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About:\u00a0Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities trading.<\/div>\n
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Pass the Knowledge – Feel Free to Forward to a Friend! Join our\u00a0Private Facebook group Subscribe to our\u00a0YouTube Channel Listen to our podcast: Subscribe on\u00a0Apple,\u00a0Spotify,\u00a0Amazon,\u00a0or wherever you listen to podcasts!   Movers and shakers! By John Thorpe, Senior Broker   The Equity markets got a little less frothy today ahead of the Final rate decision; […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1434,231,76,230,782,67,30,61],"tags":[],"class_list":["post-20734","post","type-post","status-publish","format-standard","hentry","category-charts-indicators","category-commodity-brokers-2","category-commodity-trading-2","category-day-trading-2","category-economic-trading","category-future-trading-news","category-futures-broker-2","category-futures-trading-2"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=20734"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20734\/revisions"}],"predecessor-version":[{"id":20738,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20734\/revisions\/20738"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}