Outlook 04/23: U.S. stock futures pointing to a flat open after President Biden announced tax increases on the wealthy as soon as next week to pay for an increase in funding for childcare and education. The news knocked sentiment on Wall Street yesterday, which turned south towards the end of what had been a positive session (unemployment claims hit a pandemic low). All of the major stock indexes ended the day down.
/ESM21: YVAH 4170 YPOC 4163 YVAL 4133 GAP 4129
/ES Plan: Yesterday market closed bimodal (LIS 4133), but overnight looks more balanced, moving within yesterday's value, so these are the initial balance options for today:
A) If market moves above LIS 4133 with bullish internals, buy towards YPOC 4163 YVAH 4170 (SoC) and GAP 4172.
B) If market remains below LIS 4133 with bearish internals, sell towards HVEs 4123-4110-4101.
SOC: Scene of Crime, zone where a news-based impulse move was initiated and is therefore susceptible to be visited again.
Market Movers
9:45 PMI Composite Flash
10:00 New Home Sales
1:00 PM Baker-Hughes Rig Count
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