Outlook 04/22: U.S. stock futures rise ahead of a potentially big week for earnings, with the focus on magnificent seven tech companies, including Tesla, Meta, Microsoft and Alphabet. Tesla reports after the bell Tuesday, Facebook is on deck Wednesday, while Apple, Intel and Microsoft all report Thursday. There is some potentially bigger news in the back part of this this week, with GDP due out on Thursday and a key inflation reading on Friday. The Fed meets again April 30-May 1, with officials now in the quiet period ahead of the meeting.
/ESM24 (JUN 2024): YVAH 5036 YPOC 5004 YVAL 4991 GAP 5003.75
/ES Plan: Last session market closed balanced, but overnight looks slight bullish (PBT 5096), still moving within Friday's value, so these're the opening and initial balance options for today:
A) If market moves above YVAH 5036 with bullish internals, buy towards YHOD-HVE 5060 and HVEs 5125-5155.
B) If market moves below YVAH 5036 with bearish internals, sell towards GAP 5003 YVAL 4991 and YLOD-HVE 4963.
Note: Market regime has changed. On these volatility days, your first trading rule is 'manage your risk'. Regardless of how much money you could made, you do realize that you just cannot manage risk on this regime, so think about trading small size or micros.
It's Monday and Mondays are usually the quietest days of the week. Many traders want to take their time analyzing the market, and usually, there are few economic releases.
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