Outlook 06/20: Markets will again remain attuned to any news on the trade front out of the White House as the relatively slow week of scheduled economic and corporate news continues. President Trump has threatened a further $200B in tariffs on Chinese products should Beijing hit back again, bringing to $450B the potential amount that could be targeted. That sum approaches the roughly $500B in total annual Chinese exports to the U.S. As trade war unfolds, Trump administration is also working on measures that protect agriculture and other critical industries from retaliatory tariffs being threatened by China.
/ESU8 Value: YVAH 2763 YPOC 2758 YVAL 2747
/ES Plan: Yesterday market closed balanced but overnight profile is bullish (GBT 2788), moving above yesterday's range, so we've these options:
A) If market remains above YHOD 2769 with bullish internals, become a buyer around 2769-70 towards Tariffs SoC 2778 LVN 2780 and GBT 2788. 'Look below and fail' is a bullish signal.
B) If market starts to move below YHOD 2769 with bearish internals, become a seller leaning on 2769 towards GAP 2766 and LVNs 2761-2754. 'Look above and fail' is a bearish signal.
Today's Economic Calendar
09:30 Jerome Powell speech
10:00 Existing Home Sales
10:30 EIA Petroleum Inventories
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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