Bank Earnings

Outlook 04/16: In the week ahead, earnings season will begin to ramp up with Goldman Sachs, United Airlines, Johnson & Johnson, IBM, Bank of America, Morgan Stanley, American Express, Procter & Gamble, and General Electric among the SP500 members set to report results.

/ESM8 Value: YVAH 2667 YPOC 2656.25 YVAL 2654

/ES Plan: On Friday market closed balanced and overnight inventory is bullish on bimodal profile (LIS 2670), moving above Friday's value, so we've these options:

A) If market remains above LIS 2670 with bullish internals, be a buyer leaning on 2667-2671 towards ONH 2677.50 and PBTs 2683.50-2688. 'Look below and fail' is a signal of strength.

B) If market moves below LIS 2670 with bearish internals, become a seller leaning on 2670-2667 towards GAP-YPOC 2657-56 and YVAL 2654. 'Look above and fail' is a signal of weakness.

Tips: When the market opens above the value area and remains above the value area high on subsequent tests, it is a clearly bullish signal. Buy leaning on any edge above value area. Internals slope should be rising. If the market begins to trade within the value area and volume increases at lows, it would be recommended to exit long positions.

Today's Economic Calendar

10:00 NAHB Housing Market Index
10:00 Business Inventories
01:15 PM Fed's Bostic Speech

Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.

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