Outlook 06/18: Markets across the globe are flashing red, with oil and the dollar under pressure, following Beijing's rapid retaliation after the U.S. pushed ahead with $50B in tariffs. "China does not want the trade war, but facing a capricious Washington, China has no choice but to fight back vigorously in defense of its national interests, the trend of globalization and the world's multilateral trading system," according to commentary in the state media Xinhua.
/ESU8 Value: YVAH 2782 YPOC 2776 YVAL 2770
/ES Plan: On Friday market closed balanced. Overnight profile is bearish (GBT 2757), moving below Friday's value, so we've these options:
A) If market remains below YVAL 2770 with bearish internals, become a seller leaning on 2769 towards ONL 2763.50 and GBT 2757. 'Look above and fail' is a bearish signal.
B) If market starts to move above YVAL 2770 with bullish internals, become a buyer around 2769 towards LVN 2780 and ONH 2786.75 'Look below and fail' is a bullish signal.
Today's Economic Calendar
10:00 NAHB Housing Market Index
01:00 PM Fed's Bostic Speech
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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