Outlook 05/21: U.S. stocks index futures are in rebound mode following a move by the U.S. Commerce Department to ease restrictions on Huawei Technologies. Secretary Wilbur Ross said the Chinese telecom equipment supplier will be able to access U.S. technology for up to 90 days in order to maintain existing networks and handset updates, while American firms should use the time to source alternative suppliers.
/ESM19 Value: YVAH 2850 YPOC 2843 YVAL 2837 GAP 2844
/ES Plan: Yesterday market closed bearish but overnight looks more bullish (GBT 2873), moving above yesterday's range, so options are:
A) If market remains above LIS HVE 2857 with bullish internals, buy towards ONH 2863 LVN 2867 HVE-GBT 2873 and YHOD.
B) If market starts to move below 2857 with bearish internals, sell towards ONL 2846.25 LVN 2843 HVE 2837 and YLOD.
Basics: Tape shows current order flow (Executions). I set the 'tape' to follow more than 30 contracts. I look for imbalanced waves of orders (bullish green/bearish red) at buy/sell key zones.
Today's Economic Calendar
10:00 Existing Home Sales
10:45 Fed's Evans Speech
12:00 PM Fed's Rosengren Speech
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Glossary of terms
