Outlook 05/04: U.S. stock futures ticked lower overnight, falling 0.6%. Meanwhile, the latest data on the economy is set to arrive this morning, with U.S. factory orders expected to rise 1.3% in March, as consumers demand more goods and services and investors continue to pile into shares that would benefit most from a reopening. Buying activity picked up within value stocks as investors may be taking advantage of depressed pricing and banking on reopening,
/ESM21: YVAH 4197 YPOC 4190 YVAL 4187 GAP 4182.75
/ES Plan: Yesterday market closed balanced, but overnight looks more bearish, moving below yesterday's value, so these are the initial balance options for today:
A) If market moves above HVE 4164 with bullish internals, buy towards GAP 4182.75 and YVAL-HVE 4188.
B) If market moves below HVE 4164 with bearish internals, sell towards ONL 4157.25 PBT 4155 and GAP 4129.
Note: Overnight inventory is 100% bearish. 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.
Market Movers
10:00 Factory Orders
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