Outlook 04/14: U.S. stock futures edged up in early morning trading on Wednesday as investors digested the first batch of corporate earnings. Analysts are expecting strong investment banking result. Plus, loan reserve releases could spark high earnings numbers. Federal Reserve Chair Jerome Powell will discuss the economic recovery from the pandemic at noon at The Economic Club of Washington.
/ESM21: YVAH 4132 YPOC 4123 YVAL 4115 GAP 4134.25
/ES Plan: Yesterday market closed bullish (PBT 4145), but overnight looks more balanced, still moving above yesterday's value, so these are the initial balance options for today:
A) If market remains above LIS YVAH 4132 with bullish internals, buy towards ONH 4139.25 and PBT 4145.
B) If market moves below LIS YVAH 4132 with bearish internals, sell towards YVAL 4115 and HVE-ONL 4130.
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.
Market Movers
10:00 Atlanta Fed's Inflation Expectations
10:30 EIA Petroleum Inventories
12:00 PM Jerome Powell Speech
2:00 PM Fed's Beige Book
2:30 PM Fed's Williams Speech
3:45 PM Fed's Clarida Speech
4:00 PM Fed’s Bostic Speech
6:05 PM Fed’s Kaplan Speech
Follow updates using TweetDeck. Primary twitter language is English.
Follow the market news and listen to the order flow via FinancialJuice.
Questions via twitter direct message (RTH) or email (After Close).
