Outlook 04/25: U.S. stock index futures are stumbling again this morning as the benchmark 10-year Treasury yield rose above 3% for the first time in four years, sparking concerns over higher borrowing costs for companies already facing rising commodity prices.
Today, all eyes will be on Facebook earnings, as investors will be closely tracking the social network for any signs that its recent problems with handling user data are impacting behavior on the website.
/ESM8 Value: YVAH 2665 YPOC 2633 YVAL 2616
/ES Plan: Yesterday market closed bearish (PBTs 2682-2662) but overnight inventory is temporary balanced, moving within Yesterday's value, so as usual we've these options:
A) If market remains above HVE 2620 with bullish internals, be a buyer leaning on 2620-2624 towards GAP 2635 ONH 2639.75 and YVAH 2665. 'Look below and fail' is a signal of strength.
B) If market starts to move below HVE 2620 with bearish internals, become a seller leaning on 2620 towards ONL 2618.25 LVN 2600 and HVE 2586. 'Look above and fail' is a signal of weakness.
Tips: Trade entries and exits always depend on each trader account size, financial situation, risk tolerance and time frame style (swing or scalp). You can combine both (Scalp/Swing) in a scale-out trade strategy, where one set of contracts is scalped and a second set is left open for a possible winning runner towards key levels. If the trade moves to the first profit-target, then final stop is moved to the entry price.
Today's Economic Calendar
10:30 EIA Petroleum Inventories
11:30 2-Year FRN Auction
01:00 PM 5-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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