Outlook 05/10: U.S. stock futures point to a lower open after President Trump's tariff increase on $200B worth of Chinese goods. While trade negotiators from the two sides today are scheduled to meet for a second day in Washington, President Trump is already taking steps to impose a fresh round of tariffs on $325B in Chinese goods that aren’t currently taxed. If that happens, virtually all Chinese exports to the U.S. would face 25% tariffs, further ratcheting up tensions.
/ESM19 Value: YVAH 2876 YPOC 2869 YVAL 2849 GAP 2872.75
/ES Plan: Yesterday market closed bimodal but overnight looks more bearish, moving within yesterday's value, so we've these options:
A) If market remains below LIS HVE 2857 with bearish internals, sell towards ONL 2849 and HVEs 2846-2842-2837-2826.
B) If market starts to move above 2857 with bullish internals, buy towards LVN 2864-2867 and HVEs 2873-2878-2883.
Today's Economic Calendar
10:00 Fed's Williams Speech
01:00 PM Baker-Hughes Rig Count
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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