EQUITY TECHS: E-MINI S&P: (H5) Trading Below Resistance

Pete Hegseth, President-elect Donald Trump's nomination to serve as Secretary of Defense is shortly due to appear before the Senate Armed Services Committee for a confirmation hearing. The proceedings are likely to be the most followed of the week, with considerable partisan rancour over Hegseth's nomination. Livestream here and preview of the hearing in today's MNI US Daily Brief.  

• In approximately 30 minutes, the House Ways and Means Committee will gavel in for a first hearing of the 119th Congress. The tax panel will examine the extension of Trump’s first-term tax cuts. LIVESTREAM
• According to prepared remarks, Ways and Means Chair Jason Smith (R-MO) will say: “If we want to continue President Trump’s legacy of a strong economy, Congress must act swiftly to make the tax cuts permanent.”
• Smith may choose to use the hearing to argue that a single reconciliation bill is the optimum legislative strategy for the GOP to ensure adequate time to address Trump’s tax agenda before the 2017 tax cuts expire in December.
• Of elevated importance considering recent positive developments regarding a ceasefire in Gaza, at 10:00 ET 15:00 GMT, Secretary of State Antony Blinken will deliver remarks on the Middle East at the Atlantic Council. LIVESTREAM
• Later today, at 16:30 ET 21:30 GMT: Ways and Means Chair Smith, House Majority Leader Steve Scalise (R-LA), and Senate Finance Committee Chair Mike Crapo (R-TX) will hold a press conference on the National Association of Manufacturers study.

SPX: 5,870.7 (+0.6%); DJIA: 42,491 (+0.5%/+194pts); NDX: 20,941.0 (+0.8%).

0NM5 96.00/96.20/96.30/96.40c condor, bought for 4.25 in 10k.