Morning Notes – Tuesday December 5, 2017

Directional Bias For The Day: S&P Futures are higher Drifting up since the low of 2633.75 at 4:30 PM on Monday; the 38.2% Fibonacci retracement is near 2645.75 and 50% near 2649.25 Odds are for a sideways to down day – watch for break above 2645.50 and 2649.25 Key economic data due: Trade Balance (-48.7B vs. -46.2B est.) at 8:30 AM ISM Non-Manufacturing…