Outlook 04/29: U.S. stock futures are set to open higher after strong earnings from Apple and Facebook sent those stocks sharply higher. The government on Thursday reported the U.S. economy advanced at a strong 6.4% annual rate in the initial look at the first quarter, though slightly below estimates. Initial jobless claims totaled 553,000, higher than expected, but a new low all the way back to the week ending March 14, 2020.
/ESM21: YVAH 4185 YPOC 4182 YVAL 4178 GAP 4179.25
/ES Plan: Yesterday market closed 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 4202 with bullish internals, buy towards ATH-ONH 4208.50 and PBT 4222.
B) If market moves below 4202 with bearish internals, sell towards YHOD 4194 YVAH 4185 and GAP 4179.
Note: Overnight inventory is 100% bullish. The expected action is a counter-auction relative to overnight inventory; failure to see the counter-auction would be an indication of potential trend day.
Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
Market Movers
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 Fed’s Quarles Speech
2:00 PM Fed’s Williams Speech
4:30 PM Fed Balance Sheet
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).
