Stimulus plan

Outlook 01/14: U.S. stock futures are pointing to a mixed session at the open after the second impeachment of President Trump or even a possible conviction in the Senate. The events aren't generally market moving, unless it impacts the ability of Congress to focus on its main legislative agenda, in this case to help the economy emerge from the worst pandemic in over a century. All eyes are on the price tag of President-elect Joe Biden's stimulus plan, which will be announced today and is expected to range in the trillions of dollars.

/ESH21 Value: YVAH 3809 YPOC 3806 YVAL 3794 GAP 3805.75

/ES Plan: Yesterday market closed bullish (PBT 3835), but overnight looks balanced, moving a few ticks above previous value, so these are the initial balance options for today:

A) If market remains above LIS YVAH 3809 with bullish internals, buy towards ONH 3817.75 GAP 3823 and PBTs 3835-38-46.

B) If market moves below LIS YVAH 3809 with bearish internals, sell towards GAP 3805.75 ONL 3804.25 and YVAL 3794.

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. 

Market Movers

10:30 EIA Natural Gas Inventory

11:00 Fed's Bostic Speech

12:30 PM Jerome Powell Speech

4:30 PM Money Supply

4:30 PM Fed Balance Sheet

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