Outlook 03/15: U.S. stock futures starting the week neutral as the debate over whether a $1.9T stimulus bill will prompt a serious pickup in inflation continues to play out in the markets. Bond yields are turning lower for now, with the 10-year Treasury yield down 2 bps to 1.61%, suggesting a positive start to the week for equities, especially the hard-hit tech sector. A wide rollout of COVID-19 vaccinations in the U.S. is also helping stoke a bullish sentiment.
/ESM21 (June Contract): YVAH 3924 YPOC 3913 YVAL 3907 GAP 3934.25
/ES Plan: Last session market closed balanced, and overnight continues on that way, moving above Friday's value, so these are the initial balance options for today:
A) If market moves above LIS HVE 3936 with bullish internals, buy towards ONH 3947.75 ATH 3959.25 and PBT 3970.
B) If market moves below LIS 3936 with bearish internals, sell towards ONL-YVAH 3924.25 HVE 3913 and YVAL 3907.
Note: Market opens above previous value area and if it remains above value, it is a clearly bullish signal. But, if market begins to trade within value with volume increasing, 'Value Area Rule (VAR)' comes into play. Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
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