Outlook 01/11: U.S. stock futures set to drop after Friday record high. House Democratic leadership will seek a vote on a resolution calling on Vice President Mike Pence and Cabinet officials to invoke the 25th Amendment and remove President Donald Trump from office, with a full House vote expected Tuesday. After that, Pence and the Cabinet would have 24 hours to act before the House would move toward impeachment.
/ESH21 Value: YVAH 3816 YPOC 3807 YVAL 3798 GAP 3823
/ES Plan: Last session market closed bullish (PBT 3838), but overnight looks bearish, moving below previous value, so these are the initial balance options for today:
A) If market moves above LIS YVAL 3798 with bullish internals, buy towards YVAH 3816 ONH 3820.75 and GAP 3823.
B) If market moves below LIS 3798 with bearish internals, sell towards HVE 3754 GAP 3745 and 3724.
Note: Market opens below previous value area and if it remains below value, it is a clearly bearish signal. But, if market begins to trade within value with volume increasing, 'value area rule' comes into play.
Market Movers
12:00 PM Fed's Bostic: Economic Outlook
1:00 PM 3-Year Note Auction
6:00 PM Fed's Kaplan Speech
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