Outlook 07/13: After an across-the-board decline on Wednesday, U.S. markets bounced back on Thursday, with tech stocks leading the way as Amazon, Microsoft and Facebook shares all hitting record highs. On the economic data side, reports due out in the morning include preliminary gauge on consumer sentiment from the University of Michigan.
/ESU8 Value: YVAH 2801 YPOC 2798 YVAL 2790
/ES Plan: Yesterday closed bullish (PBT 2813-18) Overnight shows bimodal profile (LIS 2801), moving within yesterday's range, so we've these options:
A) If market remains below YHOD-LIS 2801 with bearish internals, try to sell leaning on 2801 towards ONL 2795.50 YVAL 2790 and HVE 2781. 'Look above and fail' is a bearish signal.
B) If market starts to move above YHOD-LIS 2801 with bullish internals, become a buyer above 2801 towards ONH 2807.25 and PBTs 2813-2818. 'Look below and fail' is a bullish signal.
Today's Economic Calendar
10:00 Consumer Sentiment
11:00 FED Monetary Policy Report
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.
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