Outlook 07/12: Stocks markets regained some poise on Thursday, having suffered wild tailspins in the previous session as the United States ratcheted up trade war threats on China. There was also relief for markets as U.S. President Donald Trump came out of a meeting of the NATO military alliance in Belgium with a positive assessment, after a string of earlier barbs. "We had a fantastic meeting at the end," Trump told reporters. "Very unified, very strong, no problem."
/ESU8 Value: YVAH 2782 YPOC 2780 YVAL 2775
/ES Plan: Yesterday closed balanced and overnight shows bimodal profile (LIS 2788), moving above yesterday's range, so we've these options:
A) If market remains above YHOD-LIS 2788 with bullish internals, become a buyer above 2788 towards ONH 2791.50 GAP 2796.50 and PBT 2801. 'Look below and fail' is a bullish signal.
B) If market starts to move below YHOD-LIS 2788 with bearish internals, try to sell leaning on 2788 towards YPOC 2780 and GAP-ONL 2773.75 'Look above and fail' is a bearish signal.
Today's Economic Calendar
09:45 Bloomberg Consumer Index
10:30 EIA Natural Gas Inventory
12:15 PM Fed's Harker Speech
01:00 PM 30-Year Note Auction
02:00 PM Treasury Budget
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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