Outlook 08/09: After a turbulent week for stocks, the markets are facing another potentially volatile week as the trade war and key economic data take centerstage. First and foremost, investors will be monitoring any additional escalations or developments regarding the U.S.-China trade war and currency war. In addition, market watchers will also be paying attention to key economic data being released this week that could provide some insight into the current state of the economy. CPI inflation data for July is scheduled to be released Tuesday, and July retail sales data will be released Thursday. Meanwhile stock index futures fell 0.5% after tensions rise In Hong Kong, flights were canceled at the Hong Kong International Airport for the remainder of Monday as thousands of protesters disrupted operations.
/ESU19 Value: YVAH 2931 YPOC 2923 YVAL 2913 GAP 2919
/ES Plan: On last session market closed bullish but after a Sunday's balanced open, overnight looks more bearish, moving below Friday's value, so today's options are:
A) If market remains below LIS HVE 2907 with bearish internals, sell towards ONL 2893 HVE 2889 GAP 2880 and HVE 2867.
B) If market moves above LIS 2907 with bullish internals, buy towards GAP 2919 ONH 2931 HVE 2936 and GAPs 2940.50-2951.
Quotes: “I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have” Paul Tudor Jones.
Today's Economic Calendar
2:00 PM Treasury Budget
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