More Earnings

Outlook 04/17: Today, corporate earnings will be a major focus for investors with Goldman Sachs, United Airlines, Johnson and Johnson, United Healthcare, and IBM all set to report results. Goldman's results will garner particular scrutiny as financials have been a key cog in the market's post-election rally.

/ESM8 Value: YVAH 2684 YPOC 2680.25 YVAL 2672

/ES Plan: Yesterday market closed balanced and overnight inventory is strong bullish (GBT 2708), moving above Yesterday's range, so as usual we've these options:

A) If market remains above YHOD 2687 with bullish internals, be a buyer leaning on 2690-2696 towards ONH and PBTs 2700-2708. 'Look below and fail' is a signal of strength.

B) If market moves below YHOD 2687 with bearish internals, become a seller leaning on 2690-2687 towards YVAH 2684 GAP 2681 and YVAL 2672. '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 Randal Quarles Speech
11:00 Fed's Harker Speech
01:40 PM Fed's Evans Speech

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

Questions? Just ask via email or twitter @verniman direct message.