Outlook 01/28: U.S. stock futures are set to rebound from worst drop in 3 months. On the data front, dross domestic product increased at a 4.0% pace in the fourth quarter, slightly below the 4.3% expectation. Gains in consumer spending and private investment led the growth, while across-the-board cutbacks in government spending held back the economy. Jobless claims totaled 847,000 for the week ended Jan. 23. Economists had expected first-time claims to total 875,000.
/ESH21 Value: YVAH 3807 YPOC 3783 YVAL 3749 GAP 3716
/ES Plan: Last session market closed bearish, but overnight looks more bullish, moving within previous value, so these are the initial balance options for today:
A) If market moves above LIS HVE 3754 with bullish internals, buy towards YPOC 3783 YVAH 3807 HVE 3821 and GAP 3851.
B) If market moves below LIS HVE 3754 with bearish internals, sell towards HVEs 3740-3724 GAP 3716 and ONL 3703.50
Note: On these high volatility days (VIX>30), your first trading rule is 'manage your risk'. Regardless of how much money you could made, you do realize that you just can not manage risk on this enviroment.
Market Movers
10:00 New Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1:00 PM 7-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
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