Outlook 03/19: U.S. stock futures point to neutral open after another yield battle. The bond market went on a wild ride over the last 24 hours, with the 10-year Treasury yield shooting up 11 bps to a 14-month high of 1.75%. The Federal Reserve declined to extend a pandemic-era rule that relaxed the amount of capital banks had to maintain against Treasuries, in a move that could upset the bond market.
/ESM21 (June Contract): YVAH 3960 YPOC 3942 YVAL 3924 GAP 3911
/ES Plan: Yesterday market closed bearish, but overnight looks more balanced, moving belown yesterday's value, so these are the initial balance options for today:
A) If market moves above LIS HVE 3913 with bullish internals, buy towards ONH 3923.50 and HVEs 3936-3960.
B) If market moves below LIS HVE 3913 with bearish internals, sell towards ONL 3896 HVE 3878 and GAP 3870.
Note: Market opens below previous value area and if it remains below value, it is a clearly bearish signal. But, if market begins to trade within value with volume increasing, 'Value Area Rule (VAR)' comes into play.
Market Movers
1:00 PM Baker-Hughes Rig Count
Follow updates using TweetDeck. Primary twitter language is English.
Follow the market news or listen to the order flow via FinancialJuice.
Questions via twitter direct message (RTH) or email (After Close).
