Outlook 12/14: Walt Disney's deal to buy assets from Twenty-First Century Fox will value the latter at over $40 per share, or $75B. The all-stock transaction expected to come today will include Twentieth Century Fox movie and TV studio, cable networks and international operations, as well as assets focused on news and sports. None of the Murdochs are expected to be given board seats at Disney.
/ES Value: YVAH 2675 YPOC 2673.50 YVAL 2669
/ES Plan: Yesterday market closed bullish (PBT 2679) leaving a new record high (ATH 2675.50). Overnight inventory is balanced, moving within yesterday's value so as usual we've these options:
A) If market remains above YVAL 2669 with bullish internals, try to be a buyer leaning on 2669-2670 towards ATH 2675.50 and PBT 2679. Failure to breakdown YVAL early is a signal of a strength.
B) If market starts to move below YVAL 2670 with bearish internals, try to be a seller leaning on 2669-2668 towards LVNs 2662 and 2658. Failure to take out ONH early is a signal of weakness.
Tips: Remember these levels are not absolute because trading is not a game of perfect. Perfection never wins. Maybe in engineering a bridge or heart surgery or something. But in life, as in trading, perfection is 'vague and diffuse'. Enjoy your trades. Enjoy the fight. Don’t seek perfection, find gratitude that you get to be a part of a process that you hopefully enjoy participating in.
Today's Economic Calendar
09:45 AM Bloomberg Consumer Index
09:45 AM PMI Composite Flash
10:00 AM Business Inventories
10:30 EIA Natural Gas Inventory
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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.
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