Outlook 05/14: U.S. stock index futures are starting the week in the green amid hopes of a potential breakthrough in trade tensions between the world's two largest economies. A top-level Chinese delegation is set to arrive in Washington for a second round of trade talks that begins tomorrow. Lobbying groups seeking to take part include the National Retail Federation and National Association of Manufacturers.
/ESM8 Value: YVAH 2729 YPOC 2728 YVAL 2722
/ES Plan: On Friday market closed bullish (PBT 2737) and overnight filled that PBT. Right now ON profile is still bullish (GBT 2744), moving above Friday's value, so as usual, we've these options:
A) If market remains above YVAH 2729 with bullish internals, be a buyer leaning on 2729-2733 towards ONH 2741 GBT 2744 and PBT 2747. 'Look below and fail' is a signal of strength.
B) If market starts to move below YVAH 2729 with bearish internals, become a seller leaning on 2729 towards ONL 2727.25 and YVAL 2722. 'Look above and fail' is a signal of weakness.
Tips: We should always be patient and humble in the face of the market. The biggest lesson we should learned is to be humble. When we’re winning, we think we’re genius, not so much when losing, so you have to recognize that the market does what the market wants to do not what we want it to do. There is no place for ego in the markets.
Today's Economic Calendar
9:40 Fed's Bullard Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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