Outlook 02/09: U.S. stock futures are still in an upbeat mood after U.S. benchmarks set fresh records yesterday. Investors have renewed confidence that a new round of stimulus spending will bolster the U.S. economy, while upbeat earnings from large U.S. multinationals have calmed some of the anxiety over the manic GameStop-Reddit trading. More than 80% of companies that have reported results so far have beaten consensus expectations.
/ESH21 Value: YVAH 3901 YPOC 3898 YVAL 3892 GAP 3909
/ES Plan: Last session market closed bullish, and overnight printed a new record high, moving above previous value, so these are the initial balance options for today:
A) If market moves above LIS YVAH 3901 with bullish internals, buy towards GAP 3909 and ATH 3913.25 and PBT 3907.
B) If market moves below LIS 3901 with bearish internals, sell towards YVAL 3892 and GAP 3884.
Note: Market is moving above value and if it drops below YVAH, then it has great chance to fill whole yesterday value area. 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
10:00 Job Openings and Labor Turnover Survey
12:00 PM Fed's Bullard Speech
1:00 PM 3-Year Note Auction
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