Outlook 12/14: U.S. stock futures pointed to a gain at Monday's open as the Covid-19 vaccine from Pfizer (PFE) and BioNTech (BNTX) begins to roll out on emergency use basis. In a fresh effort to reach a deal on new Covid-19 economic stimulus, a $908 billion bipartisan proposal is expected to be split, according to a Reuters report, putting some of the key sticking points such as liability protections for businesses and funding state and local governments in a second package.
/ESH21 Value: YVAH 3656 YPOC 3650 YVAL 3638 GAP 3654
/ES Plan: Last session market closed balanced, but overnight looks bimodal (LIS 3677), moving above Friday's value, so these are the initial balance options for today's opening:
A) If market remains above LIS 3677 with bullish internals, buy towards ONH 3685 PBT 3696 HVE 3701 and ATH-ON 3714.75
B) If market moves below LIS 3677 with bearish internals, sell towards ONL 3667.25 YVAH 3656 GAP 3654 YVAL 3638 and HVE 3619.
Note: Market opens above previous value area and if it remains above value, it is a clearly bullish signal. But, if market begins to trade within value with volume increasing, 'value area rule' comes into play. 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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