After Worst Week

Outlook 02/01: U.S. stock futures pointed to a higher open, after uncertainty over the transactions led to the market's worst week since October. Stimulus is reentering the discussion, giving another boost to equities, as President Biden meets with the Republican lawmakers today to discuss proposals. Another week of earnings is meanwhile on tap, with Thursday set to be the busiest day of the season. 99 companies are set to report, including Alphabet, Amazon, Alibaba, Ford, Snap, Exxon, Pfizer and UPS, ending with the January jobs report that will be published Friday.

/ESH21 Value: YVAH 3749 YPOC 3712 YVAL 3700 GAP 3701

/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 remains above LIS HVE 3725 with bullish internals, buy towards YVAH 3749 ONH 3751.25 and GAP 3781.

B) If market moves below LIS 3725 with bearish internals, sell towards HVE 3715 GAP 3701 HVEs 3684-3669 and ONL 3656.50

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

9:45 PMI Manufacturing Index

10:00 ISM Manufacturing Index

10:00 Construction Spending

2:00 PM Fed's Bostic Speech

3:15 PM Fed's Rosengren Speech

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