Outlook 03/06: Stocks started the week with a rally. On Tuesday, investors will continue to closely watch the situation with tariffs as EU fights back with proposed tariffs on US goods. The European Union intends to target €2.8B of U.S. goods ranging from jeans and bourbon to motorcycles and boats should President Trump go ahead with his plan to impose a 25% tariff on foreign steel.
/ES Value: YVAH 2727 YPOC 2718 YVAL 2701
/ES Plan: Yesterday market closed leaving a bimodal profile (LIS 2705). Overnight inventory is bullish (GBT 2742) moving a few ticks above yesterday's value, so we've these options:
A) If market remains above YVAH 2727 with bullish internals, try to be a buyer leaning on 2728 towards ONH 2734.50 and GBT 2742. 'Look above and fail' is a signal of weakness.
B) If market starts to move below YVAH 2727 with bearish internals, try to be a seller leaning on 2727 towards GAP-ONL 2718-16 and LVN 2705. 'Look below and fail' is a signal of strength.
Today's Economic Calendar
10:00 Factory Orders
07:00 PM Fed's Brainard speech
08:30 PM Fed's Kaplan speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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