Outlook 02/16: U.S. stock futures point to fresh record highs in their first trading session after Presidents Day. The end of Trump's Senate impeachment trial is set to make room for President Biden's economic priorities, and in turn some catalysts for market momentum. Biden is eager to pass a $1.9T coronavirus relief bill, which would include $1,400 checks for many Americans, extra funding for unemployment benefits, child tax credit increases and aid to state and local governments.
/ESH21 Value: YVAH 3918 YPOC 3916 YVAL 3902 GAP 3934.50
/ES Plan: Last session market closed balanced, but overnight has printed new record high, moving above Friday's range, so these are the initial balance options for today:
A) If market moves above LIS 3947 with bullish internals, buy towards ONH-ATH 3959.25 and PBT 3965.
B) If market moves below LIS 3947 with bearish internals, sell towards GAP 3934.50 YVAH 3918 and YVAL 3902.
Note: Keep in mind that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
2:00 PM Fed's Daly Speech
4:00 PM Treasury International Capital
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