Outlook 03/14: Today, retail sales data for February was the economic highlight as economists expect a 0.3% increase in sales over the prior month after January’s data disappointed. Finally Retail sales stay soft. For February 2018, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $492.0 billion, a decrease of -0.1% from the previous month, but +4% above February 2017.
/ESM8 Value: YVAH 2792 YPOC 2786 YVAL 2765
/ES Plan: Yesterday market closed in balance. Overnight inventory is bimodal (LIS 2774) moving within yesterday's value. As usual we've these options:
A) If market remains above LIS 2774 with bullish internals, try to be a buyer leaning on 2774-77 towards ONH 2803 YVAH 2792 and LVN 2810. 'Look above and fail' is a signal of weakness.
B) If market starts to move below LIS 2774 with bearish internals, become a seller leaning on 2774-72 towards YVAL 2765 and NFP SoC 2748. 'Look below and fail' is a signal of strength.
Tips: Market's still under the quadruple expiration effect. Be cautious and reduce your risk/size.
Today's Economic Calendar
1:00 PM 30-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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