2/9 Friday Trading Plan

٩ فبراير

📊 Market Sentiment: Neutral

• 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.