Outlook 12/11: U.S. stock-index futures cut early gains on Monday, with the main after reports of an explosion at the Port Authority bus terminal on 42nd Street in New York, near Times Square. Police and firefighters have responded to the scene, with reports that a man is in custody and reports of possible injuries.
/ES Value: YVAH 2653 YPOC 2650 YVAL 2648
/ES Plan: Last Friday market closed leaving bullish imbalance (PBT 2661) and, after NYC attack, overnight inventory was bullish, moving above Friday's value, so we've these options:
A) If market remains above LVN 2652 with bullish internals, try to be a buyer leaning on 2652-2653 towards ONH 2658.50 and ATH 2665.25. Failure to breakdown ONL 2652.25 early is a signal of a strength.
B) If market starts to move below LVN 2652 with bearish internals, try to be a seller leaning on 2652-2653 towards YVAL 2648 and LVN 2645. Failure to take out ONH 2658.50 early is a signal of weakness.
Tips: NYC explosion has moved market lower and that was a news driven event so 'SoC setup' comes into play around 2657. The 'Scene of Crime' refers to the price level from which a news-based impulsive move was initiated and it's susceptible to a retest.
Today's Economic Calendar
10:00 AM JOLTS
01:00 PM 10-Year Note Auction
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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