Outlook 04/26: Today, Amazon results due out after the market close will be the main event as a busy week for earnings rolls along, while over 40 other members of the SP500 are also set to report results during the week's second-to-last trading day.
/ESM8 Value: YVAH 2636 YPOC 2631 YVAL 2619
/ES Plan: Yesterday market closed balanced and overnight inventory is bimodal (LIS YHOD 2648), moving above Yesterday's value, so as usual we've these options:
A) If market remains above LIS 2648 with bullish internals, be a buyer leaning on 2648-2647 towards ONH 2654.75 LVN 2660 and HVE 2674. 'Look below and fail' is a signal of strength.
B) If market starts to move below LIS 2648 with bearish internals, become a seller leaning on 2648 towards GAP 2644 ONL 2639.50 and HVE 2636. '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). You can combine both (Scalp/Swing) in a scale-out trade strategy, where one set of contracts is scalped and a second set is left open for a possible winning runner towards key levels. If the trade moves to the first profit-target, then final stop is moved to the entry price.
Today's Economic Calendar
09:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
01:00 PM 7-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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