Outlook 09/25: U.S. equity futures dropped nearly 1% overnight, with the SP500 on course for a fourth consecutive week of losses. Most of the market focus appears to be on breakthroughs in stimulus talks after Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi confirmed discussions. COVID-19 cases are meanwhile growing across the U.S., with infections rising in 22 states over the past week.
/ESZ20 Value: YVAH 3245 YPOC 3233 YVAL 3211 GAP 3238
/ES Plan: Yesterday market closed balanced, and overnight continues on that way, moving within yesterday's value, so these are the initial balance options for today's opening:
A) If market moves above LIS HVE-YPOC 3233 with bullish internals, buy towards YVAH 3245 ONH 3258.75 and HVE 3279.
B) If market moves below LIS HVE-YPOC 3233 with bearish internals, sell towards YVAL 3212 ONL 3206.50 and GAP 3183.
Note: Market opens within previous value area, a signal of balanced market. Trading from responsive versus initiative would be preferred, so don't be 'too anxious' to trade early. If we're within value we want to have some patience until market breaks.
Market Movers
1:00 PM Baker-Hughes Rig Count
3:10 PM Fed's Williams Speech
Questions via @verniman direct message (RTH) or email (After Close).
Follow alerts using TweetDeck. Primary twitter language is English.
No unauthorized reproduction of this service without permission.
