Outlook 12/21: U.S. stock futures traded deep in the red early Monday as enthusiasm over a coronavirus stimulus deal was overwhelmed by worries over a viral new Covid strain in the U.K. The losses came even as lawmakers have reached an agreement on a $900 billion relief package, which would provide direct payments and jobless aid to struggling Americans. The announcement came after negotiators resolved a key sticking point by rolling back the FED’s emergency lending powers.
/ESH21 Value: YVAH 3706 YPOC 3693 YVAL 3683 GAP 3711.50
/ES Plan: Last session market closed balanced, but overnight looks more bearish and bimodal (LIS 3656), moving below Friday's range, so these are the initial balance options for today's opening:
A) If market remains below HVE 3656 with bearish internals, sell towards HVEs 3635-3619 ONL 3596 and HVE 3592.
B) If market moves above HVE 3656 with bullish internals, buy towards YVAL 3683 GAP 3711.50 and ATH 3724.
Note: Overnight inventory is 100% bearish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of a potential trend day. Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
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