Outlook 02/19: U.S. stock futures were higher early Friday after Treasury Secretary Janet Yellen said a large Covid relief package is needed for a full recovery in the U.S. Yellen told CNBC Thursday after the bell that more stimulus is necessary even as some economic data suggested a rebound is already underway. She added a $1.9 trillion stimulus deal could help the U.S. get back to full employment in a year.
/ESH21 Value: YVAH 3911 YPOC 3893 YVAL 3885 GAP 3910
/ES Plan: Last session market closed bimodal balanced, but overnight looks more bullish, moving above yesterday's value, so these are the initial balance options for today:
A) If market remains above LIS YHOD 3918 with bullish internals, buy towards ONH 3931 HVE 3937 PBT 3854 and ATH 3959.25
B) If market moves below LIS YHOD 3918 with bearish internals, sell towards GAP 3910 HVE 3877 GAP 3867 and HVE 3860.
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
9:45 PMI Composite Flash
10:00 Existing Home Sales
10:00 E-Commerce Retail Sales
10:00 Quarterly Services Report
11:00 Fed's Rosengren Speech
1:00 PM Baker-Hughes Rig Count
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