Outlook 12/18: U.S. stock futures were little changed early Friday after the major averages closed at new all-time highs. The leg higher came amid optimism around Covid vaccines, as well as the hope that Washington will soon come to a consensus on additional stimulus measures. Leaders on Capitol Hill said they are close to an agreement that would provide $900 billion in additional aid. The talks, which have stretched on for months, are up against the wire, with federal funding lapsing at 12:01am ET on Saturday.
/ESH21 Value: YVAH 3714 YPOC 3711 YVAL 3707 GAP 3712
/ES Plan: Yesterday market closed bullish (PBT 3730), and overnight continues on that way (PBT 3731), moving above Yesterday's range, so these are the initial balance options for today's opening:
A) If market remains above HVE 3715 with bullish internals, buy towards ATH-ON 3723 and PBTs 3730-3738.
B) If market moves below HVE 3715 with bearish internals, sell towards GAP 3712 YVAL 3707 and ONL 3699.
Note: Today is Quadruple Witching, which refers to the day that options and futures on both indexes and stocks expire simultaneously, and generally produces heavy volumes that can boost liquidity. Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
10:00 Leading Indicators
11:10 Fed's Evans Speech
11:10 Fed's Brainard Speech
01:00 PM Baker-Hughes Rig Count
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.
