Outlook 12/07: President Trump would sign a stop-gap spending measure funding the government through Dec. 22, according to a statement from the White House. Trump and Congress are facing a deadline of Friday at midnight to pass fresh spending legislation. If they cannot agree on the terms, parts of the federal government could shut down.
/ES Value: YVAH 2633 YPOC 2630 YVAL 2627
/ES Plan: Yesterday market closed balanced and overnight inventory is bullish (GBT 2641), moving within yesterday's value, so we've these options:
A) If market remains above YVAL 2627 with bullish internals, try to be a buyer leaning on 2627 towards LVN 2634 and GBT 2641. Failure to breakdown ONL early is a signal of a strength.
B) If market starts to move below YVAL 2627 with bearish internals, try to be a seller leaning on 2627 towards LVN 2619. Failure to take out ONH early is a signal of weakness.
Tips: We're into the rollover week, I still quoting /ESZ7. I'll start to quote /ESH8 when volume from March contract will be greater than December contract.
Today's Economic Calendar
09:45 AM Bloomberg Consumer Comfort Index
10:00 AM Quarterly Services Report
10:30 AM EIA Natural Gas Inventory
03:00 PM Consumer Credit
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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