Outlook 04/16: U.S. stock futures printed new record high after the last of the six largest U.S. banks Morgan Stanley reported stronger-than-expected earnings, bolstered by strong trading and investment banking results. Investor sentiment was boosted by economic data on Thursday that pointed to a rebound in consumer spending and the jobs market.
/ESM21: YVAH 4166 YPOC 4161 YVAL 4147 GAP 4161.50
/ES Plan: Yesterday market closed bullish (PBT 4200), and overnight continues on that way printing a new record high, so these are the initial balance options for today:
A) If market remains above LIS YHOD 4166 with bullish internals, buy towards ATH-ON 4173.50 and PBT 4200.
B) If market moves below LIS 4166 with bearish internals, sell towards GAP 4161.50 and YVAL 4147 (VAR).
Note: If market opens above previous value area and if it remains below 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.
Market Movers
10:00 Consumer Sentiment
10:45 Fed's Kaplan Speech
12:30 PM Fed's Kaplan Speech
1:00 PM Baker-Hughes Rig Count
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