Outlook: Global stocks mostly fell on Monday and the price of oil hit a two-year high after a spate of high-profile arrests in Saudi Arabia unnerved some investors and suggested the kingdom could be more bullish in pursuing output cuts. Game of thrones? The purge also led to the arrest of business billionaire Prince Al-Waleed, whose investment firm Kingdom Holding has big stakes in Citigroup and Twitter.
/ES Value: YVAH 2585 YPOC 2584 YVAL 2577
/ES Plan: Friday market closed leaving bullish imbalance (PBT 2593). Overnight inventory is balanced, moving within yesterday's value, so as usual we've 2 options:
A) If market remains above YVAL 2577 with volume rising, try to be a buyer leaning on 2579-2580 towards YVAH 2585 and PBT 2593. Failure to take out ONH early is signal of weakness.
B) If market moves below YVAL 2577 with volume falling, try to be a seller leaning on 2577-2576 towards LVN 2571 and LVN 2567. Failure to breakdown ONL early is signal of a strength.
Today's Economic Calendar
12:30 PM TD Ameritrade IMX
Link for Updates (Check it during RTH session)
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
Questions? Just ask via email or twitter direct message.
