Outlook 04/24: U.S. stock futures are higher after six Dow 30 companies report earnings in the premarket session. Strong reports out of Verizon, Coca-Cola, United Technologies, Caterpillar are offsetting weakness with Travelers and 3M. There was also a strong Wells Fargo note out on Dow component Home Depot in the mix.
/ESM8 Value: YVAH 2680 YPOC 2674 YVAL 2668
/ES Plan: Yesterday market closed balanced but overnight inventory is bullish (GBT 2700), moving above Yesterday's range, so as usual we've these A/B options:
A) If market remains above YVAH 2680 with bullish internals, be a buyer leaning on 2680-2682 towards ONH 2688.50 LVN 2690 and LVN 2703. 'Look below and fail' is a signal of strength.
B) If market starts to move below YVAH 2680 with bearish internals, become a seller leaning on 2680 towards ONL 2671.25 GAP 2670.75 and YVAL 2668. 'Look above and fail' is a signal of weakness.
Tips: Trade entries and exits always depend on each trader account size, financial situation, risk tolerance and time frame style (swing or scalp).
Today's Economic Calendar
10:00 New Home Sales
10:00 Richmond Fed Manufacturing Index
01:00 PM 2-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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