Stocks are still weak before the market opens as headlines today are mostly about geopolitical tensions
Thanksgiving weekend sales showed that traffic increased but spending fell due to heavy discounting while online sales set records even before Cyber Monday
Today is Cyber Monday, which is the biggest sales day of the year for online shopping, so online sales should increase even more
The most visited online shopping sites are Amazon & Walmart etc
Shop Amazon - Cyber Monday Deals Week
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Amazon CEO also unveiled Amazon PrimeAir, Amazon's new drone delivery service, which is expected to go live in 4-5 years
Amazon's stock jumped from 393.62 to 398 pre-market & targeting 400 but might be too high, safest would be to buy @ 390 if it drops & rebound @ 390, buying higher will be at a higher risk as no supports found yet
Look to buy Amazon @ 390 or higher if it stays above & go higher
However, Walmart's stock dropped from 81.01 to 80.80 pre-market, support @ 81.0 is broken & not safe to trade
But it might change when market opens because of Cyber Monday
Look to buy Walmart @ 81.0 if it stays above & go higher
Final Manufacturing PMI jumped to highest since January, which might help stocks go higher, but S&P 500 will face resistance @ 1808, 1810 & 1813
Look to buy S&P 500/S&P Futures @ 1804 or higher if it stays above & go higher
Look to sell S&P 500/S&P Futures @ 1813 if it stays below & drop,
Sell at smaller resistances 1808, 1810 at a higher risk
All for 30 minutes expiration
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Monday, 2 December 2013
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