Outlook 04/06: U.S. stock futures point to a lower open, while the SP500 continues to notch new records, the Nasdaq is still about 3% below its February high, as the recent spike in bond yields made growth stocks less attractive. However, yields haven't budged much in recent days and lock downs in countries like France have recently helped give the sector a boost. It looks like the U.S. economy has just hit the accelerator, but the main risk is still a reversal in Fed language.
/ESM21: YVAH 4072 YPOC 4068 YVAL 4055 GAP 4068
/ES Plan: Last session market closed bullish, but overnight looks more balanced, printing a new record high, so these are the initial balance options for today:
A) If market remains above LIS YVAL 4055 with bullish internals, buy towards ATH-ON 4074.50 and PBT 4097.
B) If market moves below LIS YVAL 4055 with bearish internals, sell towards HVE 4039 and GAP 4014.
Note: Market looks balanced. Trading from responsive versus initiative would be preferred, so don't be 'too anxious'. If we're within value we want to have some patience until market shows a clear bias. Remember that new record high has been printed overnight, so it's still pending to be revisited at regular trading hours.
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