Outlook 04/09: U.S. stock index futures are starting the week on the right foot after President Trump predicted China will be the first to buckle in the run-up to a trade war that's rattled financial markets. "President Xi and I will always be friends. China will take down its Trade Barriers because it is the right thing to do. Taxes will become Reciprocal and a deal will be made on Intellectual Property".
/ESM8 Value: YVAH 2656 YPOC 2633 YVAL 2607
/ES Plan: On Friday market closed bimodal (LIS 2620) and Overnight shows same bimodal profile (LIS 2620), moving within Friday's value, so as usual we've these options:
A) If market remains below LIS 2620 with bearish internals, become a seller leaning on 2620 towards ONL-YVAL 2607 and GAP 2604. 'Look above and fail' is a signal of weakness.
B) If market starts to move above LIS 2620 with bullish internals, be a buyer leaning on 2620 towards ONH 2628.25 and LVN 2639. 'Look below and fail' is a signal of strength.
Tips: When I mention 'bullish or bearish' internals, I refer to these internals to be positive/negative and/or at least the channel slope rising/falling. These internals can help you to confirm your decision.
Today's Economic Calendar
12:30 PM TD Ameritrade IMX
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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