Consumer Sentiment

Outlook 06/29: The final trading day of the week, month, quarter, and half-year is here. Today, markets will say goodbye to what’s been a rocky quarter and a much more interesting start to 2018 than the relatively placid market conditions that prevailed throughout 2017. Consumer sentiment data from the University of Michigan will also be released at 10:00 a.m. ET, with this report potentially giving investors insight into how the current trade war is impacting U.S. consumers.

/ESU8 Value: YVAH 2713 YPOC 2703 YVAL 2696

/ES Plan: Yesterday market closed balanced and overnight shows a bullish profile (GBT 2742), moving above yesterday's range, so we've these options:

A) If market remains above YHOD 2726 with bullish internals, become a buyer above 2725-2726 towards ONH 2737.25 GBT 2742 and LVN 2745. 'Look below and fail' is a bullish signal.

B) If market starts to move below YHOD 2726 with bearish internals, try to sell leaning on 2726-2725 towards GAP 2719.25 and YVAH 2713. 'Look above and fail' is a bearish signal.

Tips: Be cautious on days like today; final trading day of the week, month, quarter, and half-year. There are often adjustments that are unrelated to short-term trading. Additionally, options expirations can add to volatility.

Today's Economic Calendar

09:45 Chicago PMI
10:00 Consumer Sentiment
01:00 PM Baker-Hughes Rig Count

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.